-Hindustan Times An examination of RBI data indicates that peasants turning to construction are increasingly at the same income levels as farming, in probably more challenging conditions. Shifting agricultural workers to remunerative non-farm jobs, is India’s central challenge on the employment front. The construction sector has been a mainstay of non-farm jobs over the last two decades. However, these jobs are increasingly losing their remunerative potential. The KLEM (Capital with a K, Labour,...
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RBI governor Urjit Patel lists all the (other) reasons for PNB fraud -Malvika Joshi
-Livemint.com RBI’s regulatory powers over PSU banks are weaker than those over the private sector banks, says Urjit Patel, putting the onus of tackling bank frauds such as the one at PNB on the finance ministry Mumbai: Reserve Bank of India (RBI) governor Urjit Patel broke his silence on Wednesday on the PNB fraud, putting up a blistering defence for the regulator and sought to put the onus on the finance ministry...
More »Public sector banks lost Rs 2,450 crore to frauds involving staff: RBI data -Chethan Kumar
-The Times of India BENGALURU: Among other things that emerged in the aftermath of the massive Punjab National Bank (PNB) scam is the active role of employees of the Public Sector Banks (PSBs) in multiple frauds over the years. TOI has accessed Reserve Bank of India data that reveals the number of cases involving staff across various states and the amount of loss reported. Overall, data from April 2013 to June 2016...
More »PMO Asked to Explain How Divulging Demonetisation Info Will 'Affect Economic Interests' of India -Gaurav Vivek Bhatnagar
-TheWire.in Three related pleas before the Central Information Commission throw up numerous facts on demonetisation, including how Ambedkar’s photo was proposed to be printed on new notes. New Delhi: With the Prime Minister’s Office (PMO) being reticent about the events around demonetisation that was announced late on November 8, 2016 and refusing to part with information about it in response to a query filed under the Right to Information Act, the Central...
More »Can banking recover? -Jayati Ghosh
-The Hindu We need stricter adherence to sound banking rules and more transparency from public and private players The bank frauds involving Punjab National Bank (PNB) and the companies associated with businessmen Nirav Modi and Mehul Choksi as well as the Rotomac case couldn’t have come at a worse time. The Indian banking system is already reeling under the pressure of growing NPAs, or non-performing assets (less politely known as loans that...
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