-IBN Fresh controversy is set to erupt over Comptroller and Auditor General (CAG) Vinod Rai's loss estimates on the 2G spectrum sale. CAG documents accessed through Right to Information Act (RTI) by accused show that CAG overruled its own auditor on 2G loss calculation. According to Director General Audit (Post & Telecommunications) RP Singh the issue of Unified Access Service (UAS) licences and allotment of 2G spectrum caused a loss of Rs...
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Maruti to start recruiting new workers at Manesar
-PTI Encouraged by support from Haryana labour authority and its parent Suzuki Motor Corp in the ongoing tussle with workers at the Manser plant, Maruti Suzuki India is understood to be planning to recruit new permanent employees to replace the existing ones. With no signs of an end to the standoff that started on August 29, the company has decided to give the current workers time till Monday to sign the "good...
More »Banks told to integrate operations with Regional Rural Banks for rural lending by Dheeraj Tiwari
In an attempt to extend the reach of banks in rural and semi-urban areas, the finance ministry has asked public sector banks to integrate their operations with regional rural banks (RRBs). "Charges for various banking services used by customers of RRBs are to be aligned with the sponsoring banks," a finance ministry official said on condition of anonymity. "Further, cheques or drafts issued by RRBs should be treated at par...
More »Chances of corrupt public servants being caught and punished very less by Bibek Debroy
The Lokpal legislation, in whatever form, will not be the only law we have on corruption. Apart from statutes on prohibition of benami transactions and prevention of money laundering, there is the IPC (Indian Penal Code). Under Sections 169 and 409 of IPC, depending on the offence, public servants can face imprisonment (from two years to life) and fines. This wasn't enough of a deterrent and after Bofors, we had...
More »Maruti Suzuki's Manesar plant again hit by labour unrest by Chanchal Pal Chauhan
Country's top carmaker, Maruti Suzuki, plunged into another crisis as production at its Manesar plant was abruptly stopped for the second time in past two months after its sacked around twodozen workers. The assembly lines for Maruti's top selling cars such as the new Swift, AStar hatchbacks and Sx4 sedan came to a grinding halt after it terminated services of 11 workers and also suspended another 10, on charges of indiscipline...
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