-Cobra Post A sting operation conducted by online magazine Cobrapost across various branches of private financial institutions has revealed how bank employees are accepting black money from customers to convert them into white money. Cobrapost claims that the nationwide operation shows how private banking and insurance affiliates launder money as part of standard procedures. The sting also shows that money laundering services are openly being offered even to walk in customers who...

-Pragoti The magnificent victory of the CPI(M)-led Left Front in Tripura - winning 50 out of the 60 seats – and the success of the LF candidate in the Nalhati by-election in West Bengal has been interpreted as a “re-emergence” of the Left parties by a senior CPI(M) leader. This does not seem to be a rigorous assessment. While the fifth consecutive win by the LF in Tripura is a matter of...

-The Indian Express Setting up women-only banks overlooks the reasons for their exclusion The women-only bank mentioned in the finance minister's budget speech is like flowers and chocolates — a sweet thought but just as unsubstantial. Financial exclusion of women is a real problem. It deserves far greater effort than sops like a women-only bank. Such a bank also runs counter to the logic of mainstreaming, rather than ghettoising, gender issues. It is...

-The Economic Times  The finance ministry has told all state-run banks to disclose their 50 largest bad loans to help them make a recovery plan and establish a system for zero tolerance against wilful defaulters. In a recent meeting with heads of state-run banks, new financial services secretary Rajiv Takru told them to furnish details of their top 50 non-performing assets (NPAs), including loan sanctioning officer, terms of loan, the collateral furnished...

-Live Mint Concerns raised over the efficiency of banking networks and on-the-ground preparations for the scheme A section of the Sonia Gandhi -led National Advisory Council (NAC) is not happy with the government “rushing into” the direct benefit transfer (DBT) scheme, expected to be the flagship programme of the ruling Congress party in the national election scheduled for next year. At a meeting of the NAC on Tuesday, where Unique Identification Authority of...