-The Hindu Business Line The IMD should be conferred autonomous status so that it functions along professional lines, without worrying about political correctness. Given how awry its forecasts in the last couple of years had gone, one can be forgiven for being cynical about the India Meteorological Department's (IMD) prognosis of a ‘normal' South-West monsoon this time. The country's official weather agency has predicted nationwide rainfall during the four-month monsoon season...

-The Business Standard Says licence terms extended to 15 years on advice of erstwhile Industrial Credit and Investment Corporation of India, a lender to many telcos Giving a clean chit to Prime Minister Manmohan Singh on the 2G spectrum allocation case in 2008, the Joint Parliamentary Committee (JPC) that looked into telecom spectrum allocations has turned the heat on the numerous decisions taken in the sector between 1998 and 2004, during...

-Bloomberg The corpse of Indian farmer Bengali Singh burned to ash atop a blazing funeral pyre on the banks of the river Ganges in 2006. Five years later, the dead man was recorded as being paid by India's $33 billion rural jobs program to dig an irrigation canal in Jharkhand state. Officials in his village and the surrounding region used at least 500 identities, including those of Singh, a disabled child of...

-Live Mint Subsidized loans given to farmers through KCCs could very well be the next big source of NPAs for banks Mumbai: A surge in exposure to farm debt through Kisan Credit Cards (KCCs) could emerge as a risk for India's state-run banks, according to experts. Subsidized loans are given to farmers through KCCs by state-owned banks. Until March 2012, the outstanding amount on such loans was`1.6 trillion through 20.3 million cards, as...

-The Economic Times Finance Minister P Chidambaram has warned corporate bigwigs against wilful defaults, reminding promoters that it was their duty to bring in additional capital if their companies got into trouble. "We cannot have an affluent promoter and a sick company," he said, in an apparent reference to the collapse of Kingfisher Airlines, owned by the flamboyant Vijay Mallya. Banks are stuck with nearly Rs 7,000 crore worth of loans they...