The original report on ‘paid news' of the Press Council of India sub-committee is relegated to the archive. Then too, it does not even appear on the PCI's website. Presented with a chance to make history, the Press Council of India has made a mess instead. The PCI has simply buckled at the knees before the challenge of “Paid News.” Its decision of July 30 to sideline its own sub-committee's report...

It explicitly names newspapers and channels — including some of the biggest groups in the country — seen as having indulged in the “paid news” practice. The report traces the emergence of the paid news phenomenon over years and phases Seeks a pro-active role from the Election Commission in initiating action against offenders “The phenomenon of ‘paid news' goes beyond the corruption of individual journalists and media companies. It has become pervasive,...

One year on from the aborted Satyam-Maytas deal that eventually paved the way for Ramalinga Raju’s sensational confession of fraud some weeks later, the government finally seems to be getting serious about corporate governance reform. The revelation of accounting fraud at Satyam unfortunately distracted attention from more fundamental issues relating to good corporate governance, particularly the role of company boards. But now, the government is set to release a new...

Corporate governance codes work only where firms believe working in a legal, ethical and transparent fashion also means good business. It is not in dispute that good corporate governance is all about commitment of a company to run its businesses in a legal, ethical and transparent manner, and that the tone must be set at the top. But are companies in India convinced that good business is all about good corporate...

Indian policymakers are debating doing away with the mandatory rating of financial instruments in the long-term, among a set of measures aimed at strengthening the regulatory and disclosures regime for credit ratings. The expert group, set up by the High Level Coordination Committee on Financial Markets (HLCCFM), has made specific recommendations on improving and disclosing the way credit rating agencies rate financial instruments, and has sought debate on the very...