Most reports and studies by official agencies, international think tanks and private entities indicate the cataclysmic impact of the coronavirus pandemic on the economy and society. They anticipate that lockdowns imposed by various countries across the globe to reduce the exponential diffusion of COVID-19 (i.e. for flattening the curve by social distancing and quarantines) would adversely affect economic growth and disrupt supply chains in most sectors, on top of causing...

-The Indian Express A few people are attempting novel ways of defrauding innocents using information and technology. Money is being siphoned off using fake accounts and exploiting vulnerabilities of various applications. The COVID-19 outbreak presents a global challenge not just for the medical fraternity and society, but for law enforcement agencies also. Cyber crime, like a pandemic, knows no state borders. A few people are attempting novel ways of defrauding innocents using...

-The Hindu Rue the use of unaccounted money in next month’s Assembly elections New Delhi: Activists working for electoral reforms said they were disappointed on Monday when the Supreme Court declined to stay the electoral bond scheme of the government, saying that the anonymous donations to political parties through these bonds could continue for the Delhi Assembly elections next month. A founder of the Association for Democratic Reforms (ADR), which had filed a...

-The Indian Express It is unclear why the government initially assured the RBI that RBI "alone" will issue electoral bonds as it could not do so under Section 31(3) of RBI Act. On Tuesday, replying to a question in Rajya Sabha raised by DMK’s Tiruchi Siva about what the Reserve Bank’s “indirect” approval to the issuance of electoral bonds meant, Finance Minister Nirmala Sitharaman said: “RBI, being a stakeholder, was involved in...

-The Hindu SBI reports Rs.11,932 crore NPA divergence in FY19 The Reserve Bank of India's (RBI’s) inspection report has found out that State Bank of India (SBI) under-reported Rs.11,932 crore of bad loans in FY19, which has pushed the bank to report net loss for the financial year 2018-19. The divergence in net non-performing asset (NPA) was also Rs.11,932 crore, the bank informed the exchanges. According to the RBI, provision requirement for SBI increased...