Reserve Bank of India Governor Raghuram Rajan had said recently that there was "no need" to set up a separate bad bank to deal with stressed assets of public sector lenders.
Having cut off the "umbilical cord" that tied him to the Board, the former Comptroller and Auditor General (CAG) spoke to PTI on a range of issues from "giving a free hand" to the Virat Kohli-Ravi Shastri duo, Anil Kumble's exit as national coach, his frosty relationship with colleague Diana Edulji, sexual harassment allegations against BCCI CEO Rahul Johri and difficulties in implementing the Supreme Court-mandated Lodha recommendations.
Former Board of Control for Cricket in India president Anurag Thakur on Thursday tendered a fresh "unconditional" and "unequivocal" apology in the Supreme Court, saying it was never his intention to undermine the majesty of the apex court.
'In May 2014, India got its Donald Trump equivalent as prime minister in the form of Narendra Modi. Come 2016, we will know if America too gets its own version of Modi by electing Trump,' says Shehzad Poonawalla.
'While overall this is a face saving deal just before the BRICS meeting in Xiamen, any forward military movement at Doklam once again could bring the two Asian giants at loggerheads,' says China expert Srikanth Kondapalli.
Employees Provident Fund Organisation is likely to issue permanent account numbers to employees.
Centre objected to the review petition and said that the basic grounds for seeking review of the verdict are the same as they were in the main petition.
De-allocation could raise import bill by $3 billion, add to coal shortage.
The CAG audit and other data suggests it could be far from the efficient new alternative that was once conceptualised. A conclusive review remains elusive till the government begins to release more granular and comparable data on the complex backend of GST to a deeper scrutiny, by researchers, auditors and the public.
A special court on Thursday acquitted all accused in the 2G spectrum allocation scam cases. The scam relates to the granting of 2G spectrum licence allocations in 2007-08 which caused, according to a report by the Comptroller and Auditor General of India, a loss of Rs 1.76 lakh crore. Here is a detailed timeline of how the case came to light and how it has progressed over the years:
The new board will have to provide the NCLT a road map for turning around the company by October 31, which, Kotak said, is challenging, given that the company's issues represent a "moving target"
'The EC is a sacred institution.' 'In the last few years, more than once, we have found the EC bending over backwards to accommodate the government.'
Government auditor CAG has flagged "undue favour" to Wipro Ltd by UIDAI.
Veteran cricket administrator Inderjit Singh Bindra on Tuesday said that renowned banker Vikram Limaye should take the lead in representing BCCI in the upcoming International Cricket Council's meeting on February 4.
Typically these are high-beta stocks and earnings are volatile
The four officials were asked questions related to the UPA government's '20:80' gold import scheme, which was cleared by Chidambaram on May 13, 2014, barely three days before the counting of votes of the general election
'As someone who has had the opportunity of cross examining Vinod Rai, extensively over three days as part of the Joint Parliamentary Committee, many of us included I had concluded at that point of time that this report rests on the foundation of sand.'
Chidambaram said he feels that Dassault 'is laughing all the way to the bank', as the NDA government gave a 'gift'.
The Mumbai-based brokerage has constructed India Family Firm Index out of listed companies.
The PAC, headed by Congress lawmaker K V Thomas, is keen to find out the details of huge loans given by the banks to corporates including the basis on which such favours were extended.
Dr Manmohan Singh's role in the sordid saga of the Coal Allocation Scam was always Delhi's worst-kept secret; calls for his interrogation will mushroom after he was named by P C Parakh, says T V R Shenoy.
The Supreme Court had cancelled 204 such allotments.
A lot of the factors towards which the government has pointed to justify its moves on Jammu and Kashmir are in fact valid. Only, most of them have little to do with Article 370, says David Devadas.
Past experience shows loan waivers benefited only 30% of India's farmers; here again, the richer cultivator skimmed the cream, leaving very little for his poorer brethren.
Less than nine per cent of Chhattisgarh households got jobs for 100 days under Mahatma Gandhi National Rural Employment Guarantee Act during 2007-08 to 2011-12, a Comptroller and Auditor General report tabled in the assembly on Wednesday said.
The MoD panel had submitted its report in March 2015, weeks before Prime Minister Narendra Modi announced that India would procure 36 jets.
Instead of only government departments and state-owned undertakings, the CAG can now audit private companies, too.
'He (Modi) thinks as if he is a tiger, and the only one who is right,' Mamata said.
'Two days notice for the Janata Curfew.' 'Two-and-a-half days notice for lighting candles, but a mere four-hour notice for the lockdown without taking state governments into confidence.'
The Universal Service Obligation fund was set up in April 2002 and a statutory status was given to it.
Reports by CAG earlier on the 2008 telecom licence scam had resulted in the cancellation of 122 licences.
As industrialist Vijay Mallya fights his wilful defaulter tag, former CAG Vinod Rai has said Kingfisher Airlines' loan default is just a "trickle" and the overall problem of huge bad loans at public sector banks can be blamed on 'cronies' using connections to borrow money.
In their review plea, they alleged that the judgment "relied upon patently incorrect claims made by the government in an unsigned note given in a sealed cover" to the apex court.
The airports were refurbished at the cost of Rs 2,325 cr and Rs 2,015 cr respectively but there have been various complaints.
The Congress, which was not a petitioner before the apex court, wants the Rafale deal to be referred to a Joint Parliamentary Committee to go into the price arrived at by the BJP government versus the one negotiated by the previous UPA regime, as also how billionaire Anil Ambani's group with virtually no experience in manufacture of fighter jets was selected as an offset partner for the deal.
The CAG had taken a strong objection to the long delays by the BRO in constructing 61 strategically important roads.
He also said that Bharatiya Janata Party MP Subramanian Swamy has not lied about the deal but it seems he has been misled.
The Supreme Court on Tuesday dismissed the Board of Control for Cricket in India's petition seeking review of the court verdict validating Lodha Panel recommendations.
CBI officials, who questioned former RBI deputy governor H R Khan on Friday, wanted to understand from him why the gold scheme was rushed through without taking into the account the impact and potential misuse.
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