Karnataka's political classes might be striking deals and engaging in a war of words, but this has in no way affected the smooth progress of work for some of the multi-billion dollar industrial projects in the state. ArcelorMittal, the world's largest steel producer, which plans to set up a 6-million tonne per annum plant in Bellary district with an estimated investment of Rs 30,000 crore, is now seeing farmers come forward...

The Central Vigilance Commission has received complaints that put the cumulative value of alleged corruption in projects related to the Commonwealth Games between Rs 5,000 crore and Rs 8,000 crore. Sources said the complaints included payment to non-existent parties, wilful delay in execution of contracts, inflated prices and bungling in purchase of equipment through tendering. “The total misappropriation amount may touch a figure of Rs 5,000-8,000 crore. The commission is still awaiting reports...

In the long speeches made at the opening ceremony of the CW games, every important individual, department or institution that made a contribution, was acknowledged. Did anyone hear a word about the workers who made these world-class games possible? Maybe it was just a slip or maybe it was not considered necessary. Anyway, the workers were not there for the speeches, having been driven out of the capital just a...

State Bank of India, the country’s largest bank, plans to scale up its rural book in keeping with its objective to increase financial inclusion. The bank plans to increase its rural lending book by 25% and its deposit base by about 28%,’’ said Jayanta K Sinha chief general manager, rural business, SBI. The bank is also in the process of teaming up with corporates, who would be Business Correspondents(BC). “In keeping...

Soon, the National Food Security Act  will become law. The ruling United Progressive Alliance flagship social security programme of providing every Below the Poverty Line (BPL) family with 25 kg of rice or wheat at Rs 3 per kg per month is a welcome step to alleviate some of the human trauma that haunts the poor in our country. The government also hopes that the Act will secure freedom from...