-The Times of India The Enforcement Directorate has issued notices to two former executives of the UBS Switzerland to appear for evidence recording at Mumbai in the Hassan Ali Money laundering case. The former executives are believed to have helped the Pune-based businessman Ali in his Money laundering allegedly estimated at more than $8 billion. The income Tax had also served Ali with notices in the same case for recovery of Rs...
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Small loans add up to lethal debts by Erika Kinetz
-AP The microfinance industry pursued a path of rapid business growth in recent years; two investigations now link it to debtor suicides First they were stripped of their utensils, furniture, mobile phones, television sets, ration cards and heirloom gold jewellery. Then, some of them drank pesticide. One woman threw herself into a pond. Another jumped into a well with her children. Sometimes, the debt collectors watched nearby. More than 200 poor, debt-ridden residents of...
More »India shuts aid groups involved in nuke protests
-AP India has shut down three aid organizations it says were diverting foreign funds toward rallying protests against a Russian-built nuclear plant in the south, but one group on Saturday denied any involvement in the protests while another said its efforts were entirely homegrown. Activists opposed to an expansion of India's atomic energy portfolio argue that Japan's Fukushima nuclear disaster caused by a massive earthquake and tsunami last March showed that such...
More »Don't blame the implementers by Shubhasis Gangopadhyay
Corruption and government apathy may not be hurting MNREGS as much as well-intentioned tinkering There is growing concern that the Centre’s allocation for the Mahatma Gandhi National Rural Employment Guarantee Scheme (MNREGS) is dropping off. Correspondingly, the average number of days of work created in some of the states is dropping sharply. This decline in the spending of MNREGS Money is not a one-off event but has been happening over the...
More »Dispur claims better economy
-The Telegraph Dispur today said the state’s economy was “performing well” when the country’s overall growth rate was projected to be affected by the economic meltdown in Europe. The principal secretary of the state finance department, Himangshu Sekhar Das, said Assam had not borrowed any Money from the market in the current fiscal (2011-12) and its tax collection had recorded an increase of 33 per cent, most of which had come from...
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