Members of the Christian Medical College Alumni Association, who have helped to support social activist Binayak Sen's family and his legal battles through private contributions, now propose to open up the fund to donations from the public. The Binayak Sen Support Fund was set up in May 2007 through initial contributions by 10 alumni “to provide assistance, as necessary, for the safety and liberty of Dr. Binayak Sen, and for the...

Farmer Dharamshyam Kujur put the hitherto nondescript village of Doba in Kudu block of Lohardaga district on the banking map of India today as he withdrew Rs 100 from his newly opened account. Watching him create history was Reserve Bank of India (RBI) governor D. Subbarao, who, as part of RBI’s ambitious outreach programme aimed at financial inclusion, inaugurated a smart card-based satellite banking system in the village earlier in the...

MasterCard Worldwide, a leading global payments company, today said it has developed a payment solution for ‘Aadhaar’. ‘Aadhaar’ is a 12-digit Unique Identification Number (UID) that captures basic demographic and biometric information of Indian residents. The UID will make it possible for residents to establish their identity with financial institutions thereby providing them a gateway into the formal banking system. This payment solution will enable Aadhaar holders to perform payment...

NIIRA RADIA, the lobbyist at the heart of India’s audacious multi-billion telecom swindle, inaugurated a Krishna temple she funded in south Delhi on her birthday — that, interestingly, coincides with Indira Gandhi’s. Those present on the occasion said Radia prayed for long, presumably seeking divine intervention to wriggle out of the country’s biggest scandal. Before the temple visit, notices from the country’s Enforcement Directorate (ED), Income Tax (IT) Department and the...

We are a cash-rich company run by professionals,” says a smarmy 30-something Mumbai-based head of a leading real estate company. His company’s exponential growth in the span of just five years has raised eyebrows in industry and banking circles. The reasons are clear. The company is known to have tremendous clout in the corridors of power and with the builders’ lobby. It is backed by several important politicians in Mumbai and...