-The Economic Times In what could hobble the government's plans to give Aadhar a key role in banking and a central pin of the direct cash transfer scheme, several state-run banks have refused to bear any liability for transactions done with customers that were authenticated through the unique identity (UID) mechanism. Banks and the Reserve Bank of India (RBI) had been convinced by the finance ministry to use Aadhar to fulfill the...
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Prof. Reetika Khera, Development economist IIT Delhi interviewed by Sreelatha Menon
-The Business Standard Indian Institute of Technology-Delhi professor and development economist Reetika Khera tells Sreelatha Menon that the food Bill may not be a leap ahead, but it is certainly a step forward * The food Bill is a guarantee for lifelong dependence on government doles. As an economist, can one defend such a policy? The food Bill should be seen as an investment. "Labour" is India's most important asset. In that sense,...
More »RBI dismisses money-laundering charges
-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...
More »In 4 yrs, only 700 suspected money laundering cases/yr-Subhomoy Bhattacharjee & Anil Sasi
-The Indian Express Contrary to the perception that money laundering is widespread across the country's banking sector, the Financial Intelligence Unit (FIU) has found an average of only about 700 cases annually over the last four years on which investigations could be initiated. The FIU is the national agency responsible for tracking information related to suspect financial transactions. Finance ministry data shows that during the last four years, banks and other entities have...
More »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
-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...
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