-The Times of India NEW DELHI: An investigation by the Reserve Bank of India (RBI) into allegations of money laundering by private banks has found large-scale violations ranging from huge cash deposits without PAN to dummy numbers. The probe report, a copy of which is available with TOI, shows that three private players - HDFC Bank, ICICI Bank and Axis Bank - had also hugely suppressed alerts generated by their system on...
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The Mamata Banerjee story is over...-Aditi Phadnis
-The Business Standard A trail of unfulfilled promises follow her in rural and urban Bengal The furious letter-writing since 2010 about the chit fund industry in West Bengal suggests that everyone knew the industry was going to implode. Bengal has one of the highest rates in small savings, Trinamool Congress (TMC) leader Somen Mitra wrote to the prime minister in 2011. The state buys the highest number of new life insurance policies, and...
More »Trinamool MPs assured business protection: Saradha CMD Sudipta Sen- Priyadarshi Siddhanta
-The Indian Express New Delhi/ Kolkata: Chit fund 'kingpin' names politicians from Bengal, Assam in letter to CBI. Sudipta Sen, promoter of Saradha Group, has claimed that Trinamool Congress's Rajya Sabha members Kunal Ghosh and Srinjay Bose assured him that his business interests will be protected "as they have a very close connection" with Chief Minister Mamata Banerjee. In an 18-page letter to the CBI, Sen has alleged that a number of politicians...
More »Panchayati raj: Key to good governance and inclusion-Anil Padmanabhan
-Live Mint It's obvious that Indian experience with local governance is not what it should have been, but a change is underway Later this week, the country will celebrate the 20th anniversary of the constitutional amendments that made it mandatory for the creation of panchayats-the village-level bodies that deliver self-governance. Most may not be aware that this could well have been the eve of its 25th anniversary, but for the three-vote defeat...
More »Saradha chit fund mess: Quick-rich dreams lie crushed -Krishnendu Bandyopadhyay
-The Times of India DAKSHIN BARASAT (South 24-Parganas): Every other house in this part of Bengal has a rags-to-riches-to-rags story. Saradha Group showed them a dream that was unbelievable when it lasted. But then reality struck a hard, bitter blow. Sixty-year-old Dulal Chandra Gharami walked back home tense on Monday afternoon. He was summoned to the Trinamool Congress office at Beliadanga, where he was asked to cough up protection money. For last four...
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