The government has set the ball rolling for estimating black money by signing agreements with three leading think-tanks NCAER, NIFM and NIPFP to conduct study on unaccounted income generated inside and outside the country. They have been given 18 months to complete the study and also suggest administrative and legal measures to prevent generation of black money, according to sources. The first study on unaccounted money was conducted by NIPFP way back...

The earlier draft covered only non-NBFC MFIs incorporated as trusts and non-governmental organizations that constitute a very small part of the total industry The proposed microFinance Bill for governing India’s Rs. 22,000 crore microlending industry is set to give more teeth to the Reserve Bank of India (RBI) to regulate larger microFinance institutions (MFIs). This will be done by removing such entities from the purview of laws enacted by state governments...

In letters to Prime Minister, he pitches for the project to continue and vouches for rehabilitation Digvijay urged Manmohan to get Environment Ministry to withdraw order suspending work He also said the State had made substantial progress in rehabilitation While he seldom misses an opportunity to attack the ruling Bharatiya Janata Party government in Madhya Pradesh, documents recently accessed through the Right to Information Act show that the former Chief Minister and AICC...

Wants limit to be raised to 49% Keen to enter the growing insurance sector, U.S. billionaire Warren Buffett on Friday wondered if India would raise the FDI limit in the sector to 49 per cent. The U.S.-based company is keenly watching the developments regarding further opening of the sector to foreign investment. Mr. Buffett, whose group Berkshire Hathaway recently entered the Indian insurance market, called on IRDA Chairman J. Harinarayan here and...

Eighty labourers, both men and women, are at work at Thiruvanduthurai village in Tiruvarur district of Tamil Nadu, about 325 km south of Chennai. They are digging a pond - about an acre wide and six feet deep - funded under the Mahatma Gandhi National Rural Employment Guarantee Scheme, or MGNREGS. Outside the work perimeter, two middle aged men look on, worried. P. Murugan and K. Govindaraj are farmers from the...