-PTI The Reserve Bank on Thursday sought to downplay the money-laundering allegations against three Private Sector banks, saying the country has a "perfect" system to prevent such offences and that not a single such transaction took place in the sting operation. The country's three largest private banks -- ICICI bank, HDFC Bank and Axis Bank -- were last week accused of indulging in money laundering both within and outside with an online...
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Ram Teri Ganga Moily! -J Gopikrishnan
-The Pioneer Minister misused Corporate slot to raise funds for family Trust Union Petroleum Minister M Veerappa Moily could be in the dock for raising funds for his family controlled trust from a corporate giant when he was Corporate Affairs Minister. Moily faces another serious case of conflict of interest as a top official of Reliance Industries is advisor to a company controlled by Moily’s son Harsha Moily. Even earlier, the Minister...
More »FM P Chidambaram warns rich promoters on loan defaults
-The Economic Times Finance Minister P Chidambaram has warned corporate bigwigs against wilful defaults, reminding promoters that it was their duty to bring in additional capital if their companies got into trouble. "We cannot have an affluent promoter and a sick company," he said, in an apparent reference to the collapse of Kingfisher Airlines, owned by the flamboyant Vijay Mallya. Banks are stuck with nearly Rs 7,000 crore worth of loans they...
More »Private banks reluctant about rural lending -Dinesh Unnikrishnan
-Live Mint Experts say private banks achieve lending obligations by buying out loans from non-banking entities Most private banks in India have not been able to meet the needs of farmers although they are expanding their rural and semi-urban branch network. This is why the Reserve Bank of India (RBI) is insisting that at least one-fourth of the branches of the new banks that will be given a licence must be located...
More »Only 8% of Delhi’s women work -Rukmini Shrinivasan
-The Times of India What do Delhi's working women do? While the image of a working Delhi woman that comes to mind for many is usually that of a BPO or IT worker, the real employment growth story for Delhi's women could be a far less glamorous one — paid domestic work. For one, not a lot of Delhi's women do any paid work, at least of the sort that current surveys...
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