-The Hindu Even as the Reserve Bank of India (RBI) frets over the high rate of inflation and wards off pressures to cut interest rates, it is faced with another challenge. Balance of payments data for the second quarter of 2012-13 show that the current account deficit continues to rise, and has touched a record 5.4 per cent of GDP. Both of these developments that would be considered signs of “overheating”...

-The United Nations The rapid growth of developing countries is propelling millions out of poverty on an unprecedented scale and radically reshaping the global system, according to a flagship United Nations report launched today. “The rise of the South is unprecedented in its speed and scale,” says the Human Development Report 2013, which uses the term “South” to mean developing countries and “North” to mean developed nations. “Never in history have the...

-CobraPost.com Cobrapost's Shocking  Mega Expose: Major Indian Private Sector Banks, HDFC Bank, ICICI Bank and Axis Bank, Are Blatantly Running A Huge Nation-wide Money Laundering Racket New Delhi: A Cobrapost pan-India undercover investigation spanning several months, unearths a vast, nation-wide money laundering racket being run by HDFC Bank, ICICI Bank and Axis Bank.  The brazen criminal activity by these banks is channelizing vast amounts of black money into the regular banking...

-The Business Standard Forms high-level inquiry committee to submit report in two weeks ICICI Bank today said it has constituted a high-level inquiry committee to probe allegations that it is one of the indian banks that run a nationwide money laundering racket. The committee will submit its report within two weeks. "We are deeply concerned with the media reports. We want to assure our customers and all our other stakeholders that we are...

-The Indian Express The coal ministry is likely to tell the Supreme Court that allocations made through the screening committee route were "unimpeachable and unquestionable". A day after the Supreme Court rapped the government saying all coal blocks allocated during 2006-09 can be summarily de-allocated if breach of procedures in the defined allocation process is established, coal ministry officials are sure they can defend the policy. They aim to include the comments of...