Agriculture minister Sharad Pawar today said the government should take note of Ratan Tata’s statement that India risked turning into a “banana republic” and cautioned against the excessive use of the CBI. Pawar’s statement came in the middle of a CBI crackdown on an alleged bribes-for-Loans scandal involving several top financial officials and real estate players in Maharashtra. Another real estate project, which was once associated with Pawar’s relatives, has been...
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Rs. 254-crore loan waiver for fishermen
The Cabinet has decided to write off Loans amounting to around Rs.254 crore taken by fishermen from various cooperative institutions in the State, Fisheries Minister S. Sarma told a press conference here on Tuesday. Of this amount, a sum of Rs.221.15 crore is towards the principal of the loan and Rs.20 crore towards interest on the loan disbursed through cooperative societies. A sum of Rs.12.44 crore disbursed as Loans through the...
More »Agreement on new emission cut regime unlikely at Cancun by Meena Menon
The sights are set on smaller, though just as important, issues With the first commitment to emission reductions under the Kyoto Protocol expiring in December 2012, the world is looking to a new regime of cuts, which is unlikely to be successfully negotiated here. In 2009, the U.N. Climate Change Conference in Copenhagen set a target of achieving a binding treaty and it did not happen. Now the sights are set on...
More »India widens bank loan investigation
Indian federal investigators have announced an inquiry into 21 companies in connection with a banking Loans scandal. Eight bankers have already been arrested this week, including senior executives of top state banks, accused of taking bribes to sign off Loans. The Bombay Stock Exchange fell by 1% as a result of the inquiry, analysts said. The investigation is the latest in a series of corruption scandals to hit the country. Those arrested on Wednesday...
More »Battle lines drawn for Cancun climate conference by Richard Ingham
Familiar battle lines emerged on Sunday on the eve of a conference to restore the credibility of the UN's talks on climate change after last year's near-disaster in Copenhagen. Campaigners said the interests of the environment and poor countries would not be sacrificed to help boost the faltering process, while the European Union (EU) called on China, the United States and India to agree to "fair" curbs on their carbon emissions. Nearly...
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