Citibank manager Shivraj Puri’s alleged fraud on wealthy clients has swivelled the spotlight on the growing number of high net-worth individuals whose money banks rush to manage for a fee. The wealth of high net-worth individuals (HNIs) — defined as those who have “investable Assets of at least $1 million (around Rs 4.5 crore) — in India is estimated at a staggering $477 billion and is rising each day. According to the...

It is time for India's government to put its money where its mouth is. New Delhi has raised some $30 billion since March by selling state Assets and telecom airwaves. That is about as much as the country will attract in foreign direct investment this fiscal year. There is one area above all else where this money should be directed: food security. New Delhi talks a lot about guaranteeing food for India's...

Barely weeks after firefighting the controversy over a central minister trying to influence an HC judge, former chief justice of India K G Balakrishnan has come under the spotlight again. Demands have emerged from several quarters for a probe into the Assets of Balakrishnan's son-in-law, P V Sreenijan, an advocate and a leader of the Youth Congress in Kerala. The move comes in the wake of reports claiming a "baffling increase"...

Says the bank has also stopped refinancing farm loans Says no NABARD official has visited his office in a year Criticises Milma for deposits in a private bank Cooperation Minister G. Sudhakaran said here on Monday that the National Bank for Agriculture and Rural Development (NABARD) had not been taking the initiative to hold discussions on implementing the Vaidyanathan committee report on cooperative sector reforms and had stopped refinancing farm loans in the...

The South Asian Media Commission's (SAMC) India Chapter on Monday viewed with “shock and anguish” the recent disclosures of high-profile lobbyists seeking to manipulate media coverage to serve the interests of sections of the corporate sector. Particularly disturbing were the moves to use mediapersons for help to influence decisions by the government and leadership of the ruling dispensation on crucial issues such as the composition of the Union Cabinet, the SAMC...