Under unrelenting pressure to act against corruption, the government on Monday swung into action. It said it would slap show-cause notices on 85 licence holders asking why their licences should not be cancelled for violating eligibility norms. It will also ask the ministry of corporate affairs to check if Swan Telecom acted as a front, as alleged by the Comptroller and Auditor General of India. The companies facing show-cause include Uninor,...

Indian federal investigators have announced an inquiry into 21 companies in connection with a banking loans scandal. Eight bankers have already been arrested this week, including senior executives of top state banks, accused of taking bribes to sign off loans. The Bombay Stock Exchange fell by 1% as a result of the inquiry, analysts said. The investigation is the latest in a series of corruption scandals to hit the country. Those arrested on Wednesday...

Prosen Sam is a beneficiary of land reforms. Once a landless labourer, his life changed after the Left Front government gave him a three-bigha plot in 1984. “I am still a farmer but my sons have their own businesses,” boasted the 65-year-old resident of Kurumba village in Birbhum, a proud participant in Friday’s rally by the Left Front’s farmer wings in Metro Channel. The meeting, attended by around 4,000 people from across...

The Central Vigilance Commission (CVC), probing alleged financial bungling in the Commonwealth Games-related projects, has referred certain cases to the Enforcement Directorate (ED) to check whether there was violation of foreign exchange laws. Official sources said that projects like construction of Commonwealth Games Village near Akshardham temple and flyovers, hiring and procurement of medical and fitness equipment and conduct of outdoor publicity campaign by the Organising Committee may come under the...

Sitting on a huge debt burden of close to Rs 2 lakh crore, West Bengal government's finances are the worst among five highly-indebted states in the country, a noted economist attached with the Indian Statistical Institute here has said. "Revenue deficit of the state is the highest among the five highly-indebted states of UP, Maharashtra, West Bengal, Andhra Pradesh and Gujarat," Abhirup Sarkar, the economist, told PTI. He said that for the...