-NetworkIdeas.org With its gross debt as of March 31, 2021 placed at Rs. 1.8 lakh crore and losses in the preceding quarter totalling more than Rs. 7,000 crore, Vi (former Vodafone Idea), once India’s largest telecom company in terms of subscriber base, is staring at bankruptcy. In a last-ditch effort to win state support to survive, Kumar Mangalam Birla, the Chairman of Vi, wrote to the government in June, offering to...
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Industry tops anti-graft rankings
-The Telegraph Mumbai: Just when India Inc is battling a welter of accusations about crony capitalism, Transparency International has put out a report that will buttress its argument that the CBI-inspired witch hunt to name and shame some of the best-known business barons in the country is "preposterous and unwarranted". The report says Indian companies have the greatest commitment to fight corruption and the best internal systems in place to do so...
More »India Inc plays safe; prefers lawful funding of political parties by Naren Karunakaran
The Aditya Birla Group increased its contribution to political parties about fourfold to Rs 30.5 crore in 2009-10 while the Bharti Group cut it from Rs 17 crore to zero. The two main national parties, Congress and BJP, received Rs 84 crore and Rs 82 crore, respectively, as contribution from all sources while a regional party like Sharad Pawar's NCP obtained only Rs 3 crore. The 2009-10 numbers of companies making legal...
More »Microfinance: misunderstood, Malegamed by MS Sriram
A generally beleaguered microfinance industry was eagerly waiting for Yezdi Malegam for deliverance. Any conversation about the microfinance business would end with the expectation that the Malegam committee would deliver a healthy dose of oxygen to the choking microfinance industry. The report was expected to be the panacea for all that ails microfinance in India. The report, which came out on Monday, disappoints not only in its inability to meet these...
More »Swaminathan conferred CNN-IBN Lifetime Achievement Award
Bihar Chief Minister Nitish Kumar was chosen CNN-IBN Indian of the Year Veteran agricultural scientist M. S. Swaminathan has been conferred the CNN-IBN Indian of the Year 2010 Lifetime Achievement Award for his “outstanding leadership in the field of agriculture that has contributed to ensuring food security for millions of Indians.” Union Finance Minister Pranab Mukherjee presented the award to Dr. Swaminathan at a function here. Dr. Swaminathan, a statement from...
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