-The Hindu Business Line Lack of financial transparency and social inclusion is at the root of India’s lopsided growth story, finds the India Responsible Business Index ‘Sab kuchh dikhta hai (everything is visible)’, the tag line of the now controversial Rotomac pens seems to assume a sinister meaning in light of the recent financial fraud involving owners Vikram and Rahul Kothari. The recently unearthed Nirav Modi scam, with no LoU [Letter of Understanding]...

-The Hindu We need stricter adherence to sound banking rules and more transparency from public and private players The bank frauds involving Punjab National Bank (PNB) and the companies associated with businessmen Nirav Modi and Mehul Choksi as well as the Rotomac case couldn’t have come at a worse time. The Indian banking system is already reeling under the pressure of growing NPAs, or non-performing assets (less politely known as loans that...

-PTI Finance Minister Arun Jaitley today ruled out privatisation of public sector banks as a response to the Rs 11,400-crore fraud hitting Punjab National Bank, saying the move may not be politically acceptable. Speaking at an event, he said a lot of people have started talking of privatisation in the aftermath of the PNB fraud. “This (privatisation) involves a large political consensus. Also, that involves an amendment to the law (Banking Regulation...

-The Telegraph New Delhi: A Right to Information applicant has drawn a blank while trying to access studies carried out on black money by autonomous research institutions under the finance ministry, making him wonder whether these documents have been sucked into some black hole. Even the much-touted special investigation team on black money - set up by the Narendra Modi government soon after assuming office - has informed Venkatesh Nayak of the...

-Hindustan Times With the rising costs of campaigns, parties have increasing incentives to field richer candidates with criminal cases against them — precisely those who do a worse job of representing and working for the welfare of their constituents. Are Members of Parliament (MPs) genuinely interested in giving back to the voters who elected them? Since 1993, MPs have been allotted money under the Members of Parliament Local Area Development Scheme (MPLADS)...