-PTI The Reserve Bank on Thursday sought to downplay the money-laundering allegations against three private sector banks, saying the country has a "perfect" system to prevent such offences and that not a single such transaction took place in the sting operation. The country's three largest private banks -- ICICI bank, HDFC Bank and Axis Bank -- were last week accused of indulging in money laundering both within and outside with an online...

-The Hindu Those opposing Justice Katju’s suggestion of minimum qualifications for journalists are out of touch with reality Some years ago, the journalism entrance test at a career development institute in Mumbai had this objective-type question: Kofi Annan is (a) a Nigerian footballer (b) lead singer of a Sierra Leone pop group (c) a Sri Lankan delicacy (d) Secretary-General of the United Nations. The 100-odd candidates who appeared for the test were...

-Outlook The US is going ahead with its resolution against Sri Lanka at the UN Human Rights Council in Geneva as the Rajapaksha government has failed to fulfill its international obligations, which it promised after the fall of the LTTE, the Obama Administration said today. Without naming any one, State Department spokesperson Victoria Nuland told reporters at her daily news conference that the US is working with a lot of governments who...

-The Hindustan Times An all-party meeting convened by the government on Monday failed to reach a consensus on the anti-rape Bill with leaders expressing reservations on the age of consent for sex and demanding safeguards against misuse of the proposed law. "Largely there is consensus on the intent and the content of the Bill, except that there are concerns about misuse and abuse of some of the provisions of the Bill," Parliamentary...

-Outlook A sting operation carried out by online magazine Cobrapost across various branches of private banks has revealed that banks are involved in money laundering. The sting operation shows that HDFC Bank, ICICI, and Axis Bank are running a nationwide money laundering racket. Cobrapost Editor Anirudh Bahal said that even senior management is involved in the practice. "Our investigation shows HDFC Bank, ICICI bank and Axis Bank rolling out the red carpet for...