The Reserve Bank of India (RBI) has started investigating the Rs 300-crore fraud by Citibank manager Shivraj Puri after receiving a report from the bank. Officials at Citibank said the RBI had been regularly updated on its internal investigations since the fraud came to light. “We have shared all the details with the RBI. The RBI will now investigate the matter further,” the Citibank official said. An RBI spokesperson confirmed that the probe...
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Are we moving from merely being subjects to absolute citizens? by M Rajshekhar
Mai-baap. That is how poor Indians referred to the state ever since independence. The benign provider looking after its subjects like the rajas of yore. But, today, the people have started demanding accountability from the mai-baap. Why? Because a clutch of new laws, like the Right To Information Act (RTI) and the National Rural Employment Guarantee Act (NREGA), are moving the government's developmental promises beyond "the realm of a privilege that...
More »Academies maintain Bt brinjal is safe by Jacob P Koshy
Following allegations of plagiarism, top Indian science academies have come out with a new report on Bt brinjal, reiterating their earlier claim that the genetically modified (GM) crop is safe and fit for commercial release. A coalition of environmental groups had alleged that key parts of an earlier report prepared by the science academies were plagiarized from a pro-GM newsletter of the department of biotechnology, Mint reported on 27 September. Last week,...
More »Row over GM rice
Close on the heels of the protests over the commercial introduction of Bt brinjal in the country, Reports of field trials for a genetically modified (GM) variety of rice in West Bengal has sparked another controversy. A group of scientists held a press conference here on Thursday strongly protesting the development after media Reports emerged about the decision of the Genetic Engineering Approval Committee (GEAC) to grant permission to the Calcutta...
More »Speculators at work by Alok Ray
If the price rise is due to production shortfall, how does one explain the near doubling of the price within a few days? The sharply rising onion prices have raised the suspicion that speculators are manipulating a shortage situation. First, a few facts. In retail markets, onion prices have soared from Rs 10-11 per kg in June to as high as Rs 70-80 on Dec 21. Even more significantly, prices zoomed by...
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