-PTI/ Financial Express As per the directions, the bank shall not, without the prior approval of the RBI, grant or renew any loans and advances, make any investment, incur any liability, and disburse or agree to disburse any payment. The Reserve Bank of India (RBI) on Friday imposed several restrictions on Laxmi Cooperative Bank Ltd, Solapur, including a Rs 1,000 cap on withdrawals for customers, due to deterioration in its financial position. The...
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Demonetisation one of independent India’s most devastating measure that left a permanent scar on the economy -Prabhat Patnaik
-National Herald The combination of ignorance, arrogance and the desire for “shock and awe” on the part of Modi government can be quite lethal, as the Indian people have learned to their great cost In the entire history of post-independence India, no single economic measure has been as devastating for the people and as utterly futile in achieving its stated objectives, as the demonetisation of currency notes of Rs 500 and Rs...
More »India's retail inflation rate rises marginally to 4.48% in October
-MoneyControl.com The CPI-based inflation in September 2021 was at 4.35 percent and in October 2020 it was 7.61 percent. India’s retail inflation rate, which is measured by the Consumer Price Index (CPI), rose to 4.48 percent in the month of October 2021, data released by the Ministry of Statistics and Programme Implementation (MoSPI) revealed on November 12. There was a marginal increase in retail inflation in October due to an uptick in food...
More »Deep Rot Within Facebook/Meta: What can be Done? -Paranjoy Guha Thakurta
-Newsclick.in Can legal and regulatory action be taken against Facebook for actively abetting the spread of communal hatred? While a precedent exists in the US, carrying out the same in India will prove a challenge. So, what’s new about whistleblower Frances Haugen’s revelations about how the top brass of the now-renamed Facebook turned a blind eye to the proliferation of incendiary, hateful and false information on its social media platform, how the...
More »UNHCR: Conflict, violence, climate change drove displacement higher in first half of 2021
-UNHCR India The trend in rising forced displacement continued into 2021 – with global numbers now exceeding 84 million – as more people fled violence, insecurity and the effects of climate change, according to the Mid-Year Trends report released today by UNHCR, the UN Refugee Agency. The report, for January-June 2021, showed an increase from 82.4 million at the end of 2020. This resulted largely from internal displacement, with more people fleeing...
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