Ratan Tata, chairman of the Tata group, plans to move the Supreme Court against publication of conversations he had with Niira Radia, the corporate lobbyist. The recent publication of transcripts of conversations intercepted by the security agencies between Radia and well-known businessmen like Tata, editors and politicians has blown the lid off tapping phones in India. Rediff.com's Vicky Nanjappa reveals how you can know if your phone is being tapped. Nearly 6,000 phones...

The Naveen Patnaik government is facing court strictures and opposition criticism for irregularities in grant of mining leases. WHEN Naveen Patnaik stepped into his father Biju Patnaik's shoes and donned the mantle of leadership of the Biju Janata Dal (BJD) to become the Chief Minister of Orissa for the first time in March 2000, he was seen as a crusader against corruption. In his initial years in power, he did...

The government is probing funds received by 77 NGOs from foreign shores , including tax havens, to find out their sources, suspected forex violation and alleged illegal investment. The probe has been launched after the Intelligence Bureau (IB) shared with the Financial Intelligence Unit (FIU) the activities of the non-government organisations and their suspected foreign sources of funds. The investigations by the enforcement agencies will try to find out from which countries...

The rural poor in Andhra Pradesh, a State showcased as a model for SHG-bank linkage, are caught in the vortex of microfinance. WITHIN a decade of their coming into operation, microfinance institutions (MFIs) have dealt a serious blow to the economy and the well-being of thousands of families in rural Andhra Pradesh. Harassment by their collection agents has allegedly driven at least 60 borrowers to death, and the number is...

India has lost nearly a half-trillion dollars in illegal financial flows out of the country, says a new study by Global Financial Integrity. India is losing nearly Rs.240 crore every 24 hours, on average, in illegal financial flows out of the country. The nation lost $213 billion (roughly Rs.9.7 lakh crore) in illegal capital flight between 1948 and 2008. However, over $125 billion (Rs.5.7 lakh crore) of that was lost in...