Time magazine picked him as one of 100 people shaping our world. Today, he’s held responsible for bringing an exciting, inspirational business into disrepute. Oh, and his wife says he beat her and snatched their son. There could not be a more controversial torchbearer than Vikram Akula for an industry as quintessentially Indian as microfinance, the business of providing the poor with loans, as small as R5,000, secured not with...
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Black money became a reality in realty sector by Nauzer K Bharucha
We are a cash-rich company run by professionals,” says a smarmy 30-something Mumbai-based head of a leading real estate company. His company’s exponential growth in the span of just five years has raised eyebrows in industry and banking circles. The reasons are clear. The company is known to have tremendous clout in the corridors of power and with the builders’ lobby. It is backed by several important politicians in Mumbai and...
More »Official violated law for Adarsh project, RTI activist complains to ACB
Right to Information (RTI) activist Santosh Daundkar on Tuesday gave a written complaint to the Maharashtra Anti-Corruption Bureau (ACB) against State Information Commissioner Ramanand Tiwari in connection with the Adarsh Housing Society scam. Mr. Daundkar has requested the ACB to register an FIR against Mr. Tiwari, former Principal Secretary, Urban Development; MLC Kanhaiyalal Gidwani and R.C. Thakur, chief promoter of Adarsh, for violations for law. In his complaint, supported by annexures of...
More »RBI data show decline in credit flow to agriculture
There has been a significant pick up in credit flow to industry, services and personal loan segments during the current financial year. However, credit flow to agriculture has declined further, data released by the Reserve Bank of India as part of Macroeconomic and Monetary Developments Second Quarter Review 2010-11 shows. While credit flow to industry was highest at Rs 1,07,386 crore, credit flow to agriculture contracted by Rs 13,481 crore during...
More »Spirited fight by S Dorairaj
Striking workers at Foxconn India in Sriperumbudur near Chennai take on the corporate giant, demanding better wages. WORKERS at Foxconn-India in Sriperumbudur in Kancheepuram district, Tamil Nadu, have been on strike from September 24 demanding better wages. They also want the reinstatement of 24 suspended colleagues and the withdrawal of an eight-day wage cut slapped on some workers. That they have held out for so long is remarkable, not least...
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