Citibank manager Shivraj Puri’s alleged fraud on wealthy clients has swivelled the spotlight on the growing number of high net-worth individuals whose money banks rush to manage for a fee. The wealth of high net-worth individuals (HNIs) — defined as those who have “investable assets of at least $1 million (around Rs 4.5 crore) — in India is estimated at a staggering $477 billion and is rising each day. According to the...
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The loyal, seditious Dr Sen by Samar Halarnkar
“Take again Section 124-A of the Indian Penal Code. Now so far as I am concerned that particular section is highly objectionable and obnoxious and it should have no place both for practical and historical reasons, if you like, in anv body of laws that we might pass. The sooner we get rid of it the better.” —Prime Minister Jawaharlal Nehru in Parliament during debates on the first amendment to...
More »Community-led social audit by Amita Sharma
Between the technical rigour and finality of CAG audit and people's airing of grievances, a new audit system that subscribes to, and strengthens, open government may be waiting to be born. The new system is envisaged as one where the CAG’s formal audit includes the relatively new concept of community-led social audit . The Mahatma Gandhi National Rural Guarantee Act, 2005 (MGNREGA) presents an opportunity to do this. Traditionally, auditing is a...
More »No clear proof of how Sanyal's letters changed hands by Aman Sethi
They're part of a conspiracy to aid CPI (Maoist)'s goal to overthrow Indian state: police Expert testified that the letters were probably written by Sanyal Sanyal says police coerced him into writing them “Dear Friend, I hope you are well. Have not had any news from you for many days. No letter either. I hope everything is well. Do send a letter sometimes.” On May 6, 2007, this letter (written in Bengali) and...
More »Jaitapur project promoters can't buy off villagers: study by Meena Menon
Majority believe environment, livelihood are at stake Region falls in seismic zone III, which is not suitable for nuclear plants Villagers contest NPCIL claim that 626.527 out of 938 hectares acquired is barren It will be a mistake to construe the people's struggle against the proposed Jaitapur Nuclear Power Project as an agitation for higher compensation, says a social impact assessment report prepared by the Tata Institute of Social Sciences. A majority strongly believe...
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