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.
'Clearly, the warming of ties can be a 'win-win' for India and China,' says Ambassador M K Bhadrakumar.
'But an overthrow of the Afghan government would really embolden regional militant groups in a big way.' 'LeT and JeM could be emboldened, and prompted to replicate in Kashmir what the Taliban did in Afghanistan.'
This is suspected to be a Naxal ambush for security forces. Maoists fired multiple rounds while attacking the vehicle-mounted team, the official said.
A global group of government anti-money-laundering agencies said that financial institutions have not done enough to police suspicious financial activity by officials at soccer's global governing body FIFA.
'The Indian version is that the two top diplomats merely exchanged pleasantries, while the Pakistani side characterised the encounter as an 'informal dialogue'.' 'The truth, as always in such piquant situations, is somewhere in between.' 'It stands to reason that ice has been broken,' says Ambassador M K Bhadrakumar.
The Enforcement Directorate has managed to sniff out over Rs 9,000 crore as suspected haul from money laundering in a decade, but it has yet to link those against anyone successfully in a court.
The BRICS also called upon all nations to adopt a comprehensive approach in combating terrorism including countering radicalisation and blocking terror financing sources.
'If the US intention was to use the FATF platform to isolate Pakistan and impose sanctions against it, that is not going to work when influential countries such as Turkey, Iran, Saudi Arabia, China and Russia will not lend support to the US campaign,' says Ambassador M K Bhadrakumar.
'Pakistan's trump card is that it is the only credible guarantor on the horizon who can reasonably assure the Western world that Afghanistan will not again become the revolving door for international terrorism.' 'Trust Pakistan to play this card optimally,' explains Ambassador M K Bhadrakumar.
There is a sense of relief in Beijing that Modi will be at the helm of affairs in Delhi at a critical juncture in the geopolitics of the region, says Ambassador M K Bhadrakumar.
A realistic assessment will tell us that not much has changed between India and Pakistan; the relationship remains as fraught as before with little prospect of reconciliation, notes Ajai Shukla.
'The Pakistani move to ban militant outfits and placate international opinion and Islamabad's openness to a UN security council resolution on Azhar -- instead of beseeching China to cast yet another veto -- enables Islamabad to occupy the high ground,' notes Ambassador M K Bhadrakumar.
The Centre directed Uttar Pradesh and Bihar on Sunday to prevent dumping of dead bodies in the Ganga and its tributaries, and focus on their safe disposal and a dignified cremation after corpses were seen floating in these rivers following a spurt in the number of coronavirus cases.
Paris attacks took the centre stage at the G20 Summit on Sunday with Prime Minister Narendra Modi calling for a united global effort to combat terrorism as world leaders joined a clarion call to eliminate ISIS network.
Experts have started giving comments on provisions that the govt must make in Budget 2016-17.
A 13.2 MW small hydro project on the Rishiganga river was swept away in the glacier burst in Uttarakhand on Sunday, but there is no danger of floods in the downstream areas as the water level has been contained.
A summary of sports events and sports persons, who made news on Thursday.
The CM urged all Malayalis to donate one month salary to rebuild the state, where the death toll has now touched 302.
The India-Japan 2+2 dialogue added strategic heft to the special relationship in the wake of growing Chinese assertiveness on regional affairs, points out Dr Rajaram Panda.
The failure to restructure our armed forces in line with contemporary needs 14 years after the Kargil war will impose strategic costs beyond just delays and scandals, says Nitin Pai
'Modi had not discussed demonetization with me prior to his announcement on 8 November 2016. 'I learnt of it along with the rest of the country. 'I was not surprised when he did not discuss the issue with me prior to making the public announcement. 'It fitted in with his style of making dramatic announcements.' A fascinating excerpt from Pranab Mukherjee's The Presidential Years: 2012-2017.
P P Chaudhary the newly-appointed minister of state for corporate affairs, is monitoring and coordinating actions against shell companies.
India questioned the functioning of Pakistan's notorious military courts.
The PFI is alleged to have been continuously involved in anti-government propaganda and spreading the narrative that Muslims were being persecuted in India.
The agency said it searched a Mumbai-based operator who was running 700 shell companies with 20 dummy directors and had "converted Rs 46.7 crore for Chaggan Bhujbal", the jailed ex-Maharashtra deputy chief minister.
'He will be constrained if and when he tries to set the foreign policy agenda that is not to the liking of the army.'
'It has taken bombings in Beirut, bombing of a Russian airliner and now terror attacks in Paris for people to realise that we are not going to achieve our objectives of destroying ISIS if we drive in second gear. We need to get into top gear.'
It asked all nations to work together to expedite the adoption of the Comprehensive Convention on International Terrorism in the UN General Assembly without any further delay.
'The attack on the Pathankot base constituted an act of war. Yet Modi's only public comment up until now on that attack has been to blame it on "enemies of humanity".' 'Modi came to power talking tough about Pakistan. But in office, he has pursued a Pakistan policy that has lost both direction and purpose,' argues Brahma Chellaney.
A long crisis with a lack of sound short-term, long-term actions can result in sluggish growth in India, similar to that in Japan.
News of all that's transpired on and off the football field
'The quick fixes have failed; there is now no alternative to deeper reforms,' says Ajay Shah.
The West Indies Cricket Board will ask for a meeting with its Indian counterparts as it seeks to find a way out of the crisis caused by the abandonment of the recent tour.
Saeed, has been moved to an unknown location.
Finance Commission has got new team who are committed to growth initiatives.
Patel, who headed the RBI from September 2016 till his sudden resignation in December 2018, says in his book thta the government seemed to lose enthusiasm for the new bankruptcy law in the middle of the year he left the central bank. Though Patel does not name anybody in the book, the mid-2018 period he refers to is the time when Piyush Goyal held temporary charge of the finance ministry between May and August.
'The difference between black money in India and the black money out of India is, in India, it is tax evaded money and Indian money outside India is not only tax evaded money, but money which has been taken out of India's capital resources needed for India. So it is not only tax evasion, but treason too.'
'Param Bir's letter alleges that Waze was being used directly by the home minister.' 'I think an enquiry by a high court judge is the need of the hour.'
NITI Aayog vice chairperson Rajiv Kumar tells Indivjal Dhasmana that additional funds could be generated through divestment, and that the fiscal deficit should be widened while focusing on the revenue deficit.
