Ghost beneficiaries aren't the only kind of issue companies face during a period of unprecedented CSR spending, touching nearly Rs 12,000 crore in 2018-19. Frauds related to procurement, construction, and end-use of funds have had companies engaging forensic auditors to keep tabs on how money is spent, revealed conversations with those involved in such investigations. Firms are also increasingly strengthening their own capabilities to better implement their programmes.
In a complete defiance of the Supremer Court, the Board of Control for Cricket in India, on Saturday, rejected key recommendations of the Lodha Committee, like one-state one-vote, age limit of 70 years and cooling-off period of three years, setting the stage for another round of confrontation with the apex court.
'The Chennai floods in particular clearly show there is a nexus between corruption, disaster, destruction and death.' 'Urban development in India is the source of all corruption.'
'Event management can distract from, but not permanently mask, execution failures,' points out Rathin Roy, director, National Institute of Public Finance and Policy.
With the Union government clearing the way for foreign direct investment (FDI) in the railways, the Railway Board is devising a plan for operations, maintenance and construction projects.
The PNB fiasco falls into a family line that involves non-fund limits - read contingent liabilities which are off-books. Harshad Mehta did it with bankers' receipts in 1992. Ketan Parekh exploited the ignorance of bankers who did not know the difference between a cheque and a pay-order. And the RBI blinked when it failed to insist the SWIFT platform be linked to the core banking solution. Raghu Mohan & Abhijit Lele trace the banking mess that was just waiting to happen.
After three decades of glorious service, the Sea Harrier jets of the Indian Air Force will fly into the sunset on Wednesday.
He is known for his paperless style of working.
The year gone by saw the high and mighty of the corporate world face the music in the Delhi High Court which held that the telecom majors are amenable to CAG audit and Mukesh Ambani's RIL struggling hard to get rid of an FIR lodged on gas pricing by the 49-day-old AAP regime.
Experts say it's not only important to get due-diligence done by an independent firm but it needs to be cross-checked, too.
Three key babus will make room for a new set of officers to carry the baton of Budget programmes.
The persistence with Aadhaar, to the exclusion of all other identity systems, is a dangerous path and should be avoided if the risks of digital vulnerability are to be eliminated. Till such time that the ownership of the Aadhaar system is transferred to an independent body, concerns over Aadhaar's digital vulnerability will persist, says A K Bhattacharya.
While the likelihood of these states going the Lanka or Greece way may be an alarming assessment, the financial situation of some states such as Punjab and West Bengal is indeed quite weak.
A group of retired civil servants also called upon the PM to reach out to the families of the victims in Unnao and Kathua and "seek their forgiveness on behalf of all of us".
The new minister must commit himself to supporting long-term defence plans or else defence modernisation will continue to lag and the growing military capabilities gap with China will assume ominous proportions, warns Brigadier Gurmeet Kanwal (retd).
India will finish their home series against Sri Lanka on December 24 before leaving for South Africa on December 28. They are scheduled to play a two-day warm-up tie starting on December 30 before taking on South Africa in the first Test on January 5.
In New Delhi's corridors of power, debate continues on whether the navy even needs a third aircraft carrier.
In 2012, Diageo signed a deal to buy stake in USL.
GSTN CEO Prakash Kumar tells Sudipto Dey how IT can improve service delivery of government departments.
'Four weeks have passed after the scam was exposed, yet no big guy has been arrested.' 'This gives the impression that he wants to be soft on the biggies.'
'If the RBI had done the right things, these mistakes would not have happened in banks, public or private,' says Ajay Shah.
'Decisions on nuclear power have so far been taken by a small select group, primarily interested in profiteering from their actions, stating 'secrecy' as necessary from the national security point.' 'This argument is false, because we are dealing with the 'civilian' nuclear power sector, which is open even to the IAEA,' says Dr A Gopalakrishnan, former chairman of the Atomic Energy Regulatory Board.
In the aftermath of the PMC Bank mess which was in the RBI's highest rating of 'A' category, trustworthiness of these ratings may be up for a review.
According to a new subsidy sharing formula, the payout of upstream oil producers like ONGC is to be reduced to the extent of Rs 4,500 per tonne oil development cess they pay to the government, sources privy to the development said.
The Board of Control for Cricket in India will hold it's Annual General Meeting on September 21 as per its existing constitution and is expected to wait for the Review petition verdict before getting into the implementation phase of the Lodha Committee Reforms.
Will Arundhati Bhattacharya be the RBI's first woman governor? Or will Urjit Patel succeed Raghuram Rajanas RBI governor when his term ends on September 4?
As a follow-up to the views expressed by Shashank Manohar soon after being re-elected as BCCI president earlier this month, the Board of Control for Cricket in India is all set to appoint an Ombudsman at its Annual General Meeting which will be held at its headquarters in Mumbai on November 9.
Traders are waiting for the earnings season to kick off.
'Public sector banks are like an extended arm of the government.' 'They rush to rescue certain sectors or they rush to invest in certain sectors to prop up the economy which the private banks don't.'
'May it be the guardian which calls for breaking down narrow walls of the mind.' 'May it continue to invite everyone to celebrate the possibilities of humanity's one-ness.' Claude Arpi salutes 50 years of Auroville, a Grand Experiment in Living.
'(Upper caste) leaders talk against the Constitution, reservations and the nation and still get away.'
Whistle-blower officer Ashok Khemka has been shunted again, in breach of rules by BJP government in Haryana. All actions of the previous Congress govt against him still stand even as the Narendra Modi government has chosen to keep away.
The BCCI submitted a 60-page affidavit to the Supreme Court in which it stated it's opposition to certain points in the Lodha Committee report including one association and one vote for each state and also the inclusion of a representative of the Comptroller and auditor general (CAG) in the Board.
The Board of Control for Cricket in India, on Tuesday, moved the Supreme Court seeking disbursal of funds for conducting Rajkot Test that starts on Wednesday.
The Supreme Court today ordered that former Comptroller and Auditor General of India Vinod Rai will supervise special audit of property of Kerala's famous Sree Padmanabha Swamy temple, which is facing charges of financial irregularites, and constituted a new administrative committee headed by District Judge, Thiruvananthapuram.
If someone incompetent clears the system, it is probably intentional.
'RBI was focusing on public sector banks perhaps thinking that private sector banks are managed efficiently while PSU banks are not.' 'Now, RBI has to focus on private sector banks too.'
With the shadow of the Supreme Court-appointed Justice Lodha panel recommendations hanging over its head, the BCCI will be conducting its 87th Annual General Meeting in Mumbai on Wednesday, with election of its honorary secretary being one of the priorities on the agenda.
'Overlying his idealism was a hatred of war and of all things military. He gave no deep thought to politico-military matters and this prevented him from making sound security decisions.'
Shaken by Justice RM Lodha committee's recommended reforms of its governance structure, the Board of Control for Cricket in India has decided to call a Special General Meeting (SGM) within the next two weeks to discuss the implications of the report.
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