-TheWire.in PricewaterhouseCoopers, convicted in the Rs 7,000 crore Satyam scam, had also Audited accounts of Vijay Mallya’s firm and the Global Trust Bank, which collapsed. New Delhi: The Narendra Modi government’s appointment of PricewaterhouseCoopers (PwC) India to key projects like black money probes, Digital India, Make in India and Smart Cities project has been questioned by the Citizens Whistleblowers Forum. The group has also expressed concern over the RBI’s engagement of the...
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MGNREGA as Distribution of Dole -Govind Bhattacharjee
-Economic and Political Weekly Govind Bhattacharjee (govind100@hotmail.com) is a Director General at the office of the Comptroller and Auditor General of India. According to the evidence presented in the report of the Comptroller and Auditor General of India and studies elsewhere, 11 years of the Mahatma Gandhi National Rural Employment Guarantee Act have not been able to make much of a dent in rural poverty. This article also suggests some innovative ways...
More »CVC examines CBI probe in top bank frauds, including Vijay Mallya's
-PTI CVC Commissioner says bankers need have no fear if their decisions are bonafide New Delhi: The Central Vigilance Commission (CVC) is supervising CBI's probe in 10 top bank fraud cases, including one involving fugitive businessman Vijay Mallya, and says bankers need have no fear if their decisions are bonafide. Vigilance Commissioner T M Bhasin told PTI that bankers need to "muster courage" to recover their money individually or collectively from defaulters. His assertion...
More »Auditor Extraordinaire: The Curious Case of NPA Underreporting in India -Hemindra Hazari
-TheWire.in At Axis Bank and Yes Bank, it appears that a single Auditor of a member firm of Ernst and Young has overlooked gross NPAs of a staggering Rs 13,655 crore. Recently, Axis Bank and Yes Bank jolted the Indian banking community while releasing their annual results. Both banks disclosed a staggeringly large divergence between the banks’ Audited accounts and the Reserve Bank of India’s (RBI) findings regarding bad loans on the...
More »SC directs CAG to find how Rs 20,000 cr meant for workers' welfare has been spent
-PTI The court was hearing a PIL alleging that the statutory cess levied from real estate firms for the welfare of construction workers was not being utilised properly. Where has a whopping amount of Rs 20,000 crore, meant for workers’ welfare, gone? Spent on tea parties or vacation of officials? Even the Comptroller and Auditor General doesn’t know, wondered the Supreme Court. These posers were put to the Comptroller and Auditor General (CAG)...
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