-The Economic Times CHENNAI: The Madurai bench of the Madras High Court has granted an interim stay on the implementation of rules Banning the sale and purchase of cattle for slaughter at animal fairs — notified by the central government in May — marking the first judicial pronouncement on an issue that has sparked off heated debate countrywide. The court on Tuesday, in response to a public interest litigation filed by Madurai-based...
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Social impact of demonetisation may have been greater: World Bank
-The Hindu Greater data availability, especially on labour markets, needed to better gauge social impact of such policies The World Bank has said the social impact of demonetisation may have been greater as the informal economy was likely to have been hit especially hard. However, the Bank said the impact of demonetisation on the informal economy was difficult to measure and greater data availability, especially on labour markets, is needed to...
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 »Government to step up mergers in PSU Banks: Arun Jaitley
-The Times of India NEW DELHI: The Centre will pursue more mergers in the state-run Banking space as the aim is to have a handful of strong and bigger Banks of international level, finance minister Arun Jaitley has said. "Today Banking is not what it used to be 10-20 years ago... Is it necessary to have 30-32 public sector Banks, some of them weak? Obviously not. What will you do with...
More »Beyond bull: Why new restriction on cow slaughter will hurt India -Kunal Pradhan
-Hindustan Times When the Government of India issued an ‘extraordinary’ notification on Tuesday, restricting the sale of cattle for slaughter in animal markets and imposing rules that put a majority of the country’s animal markets in danger, it willy-nilly hit much more than the meat industry. New Delhi: It is easy to frame rules Banning the slaughter of the cow, its progeny, its distant cousin the water buffalo, and its passing acquaintance...
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