-The Times of India NEW DELHI: Investigations by the income tax department have found that a large number of cooperative banks have been manipulating and laundering unaccounted money post demonetisation of high denomination currency notes of Rs 1000 and Rs 500 on November 8. As the department's findings suggest a general absence of requisite regulatory oversight over cooperative banks across the country, the government feels the need for a strong regulatory framework. An...

-The Indian Express Urjit Patel to appear before PAC on January 28, list of 10 questions sent New Delhi: THE PUBLIC Accounts Committee (PAC) headed by senior Congress leader K V Thomas, which has asked Reserve Bank of India (RBI) Governor Urjit Patel to appear before it on January 28, has asked him 10 probing questions on the demonetisation issue — from the decision-making process to the level of RBI’s involvement, impact...

-The Telegraph Nagpur: A special investigation team will probe the alleged harassment of poor women borrowers in Maharashtra by loan recovery agents of micro-finance institutions, the state government announced today after month-long street protests and an Assembly debate. Junior home minister Deepak Kesarkar assured an agitated Assembly that the state was considering a law similar to one Andhra Pradesh had enacted in 2011 to regulate the MFIs' lending and loan recovery practices. About...

-The Telegraph New Delhi: The Union home ministry today barred a non-government organisation run by a Narendra Modi-critic from receiving foreign funds, revoking its FCRA licence and that of three others for alleged "undesirable activities against public interest". The action, which drew accusations that the government was trying to stifle voices of dissent, means Anhad, run by Shabnam Hashmi, the Marwar Muslim Educational and Welfare Society, and the Gujarat-based Navsarjan Trust and...

-The Times of India HARIDWAR: A fine of Rs 11 lakh has been imposed on Yoga guru Ramdev's company, Patanjali Ayurved Ltd, by a city court on charges of misbranding and misrepresentation of its products. In its order, the court of Lalit Narain Mishra, Haridwar's additional district magistrate, found the company, which is currently eyeing at doubling its revenues from the current Rs 5,000 crore to almost Rs 10,000 crore by the...