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.
SPG Act tweaked to ensure that commandoes accompany protectees overseas as well.
'The most intriguing thing (about COVID-19) is the range of the illness -- from asymptomatic or less symptoms to death and quite severe manifestations.' 'The vaccine will be at least another year away from having any effect.'
The time is nigh for India to ensure that investment by its former citizens is encouraged by protecting their rights, says C B Patel.
'When the national anthem of India was sung and joined by all present with the PM in front, it was the best moment of the whole night.'
Listening -- really listening -- to advisers in the government and outside would help. India has plenty of wise economists who have worked within the bureaucracy during previous crises, points out Rahul Jacob.
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The Mahatma's descendants differ over Modi and the BJP victory... US-based Coalition Against Genocide vows to oppose Modi... Only Hindu US Congresswoman congratulates Modi... George Joseph/Rediff.com reports from New York.
12 banks have been authorised to receive such donations to the Prime Minister's National Relief Fund.
Far from the metros and big cities, the coronavirus crisis in the country's districts, towns and villages is being led by district magistrates.
The responsibility of keeping the pandemic under control lies with the DM or collector.
Subrat Kumar Sen, the young district magistrate of Saran, north Bihar, tells Rediff.com's Archana Masih how he and his staff are combating a crisis that no one has confronted before.
An Indian national, believed to have been injured in a bomb blast in Yemen's Aden, has succumbed to his injuries, defence sources said on Friday.
India needs to come up with new ideas to make the Pravasi Bharatiya Divas more appealing to overseas Indians. The Diasporas talents should be used for the country's development, says Thomas Abraham, founder of the Global Organisation of People of Indian Origin
India's largest firm Reliance Industries has initiated work-from-home for its staff while keeping open consumer-facing businesses of hospital, retail stores and telecom with a minimum workforce amid increasing number of Covid-19 cases in the country. Chairman and Managing Director Mukesh Ambani will hold a meeting almost every third day to take stock of the impact of novel coronavirus (covid-19) outbreak on his employees and business, officials said.
Prime Minister Narendra Modi on Monday told a rapturous crowd of NRIs that Persons of Indian Origin cardholders will get a lifetime Indian visa and that American tourists will be given visa on arrival.
Describing non-resident Indians and Persons of Indian Origin as Citizens of India Overseas, Science and Technology Minister Kapil Sibal on Tuesday asked them to invest in the manufacturing sector to give a boost to employment generation in the countr
'Paying my taxes, diligently repaying my loans, following the rules, scrupulously doing things by the book, when there's this big, beautiful world of unregulated chicanery I could have indulged in for years before just flying off to greener pastures, like Lalit Modi, Vijay Mallya and Nirav Modi,' says Mitali Saran.
65,000 Sri Lankan Tamil refugees still live in Tamil Nadu. Rediff.com's A Ganesh Nadar discovers the challenges for the refugees to return home.
'The government has assured us support.' 'The civil aviation ministry have told us that whatever we need, we will get prime airport slots and bilateral rights.'
President Xi Jinping has appealed to Chinese tourists not to leave a bad reputation behind, and eat fewer cups of instant noodles while travelling abroad. "Do not litter water bottles everywhere. Do not damage coral reefs. Eat less instant noodles and more local seafood," the China News Service quoted Xi as saying in Maldives this week.
The PBD this year functions as a political stage for the BJP government at the Centre and in Uttar Pradesh. Both Prime Minister Narendra Modi and Congress president Rahul Gandhi have been wooing the Indian diaspora through widely publicised events across the country. At the PBD, the mood was either largely pro-Modi, and when not, apolitical.
Only when the international players come to India will this new investment avenue make sense of the retail investor.
The reported controversial remarks of President Pranab Mukherjee on Bofors issue to a Swedish daily have no bearing on his upcoming tour of Sweden, the first State visit, beginning on May 31, External Affairs Ministry said in New Delhi on Thursday.
The Enforcement Directorate, which continued its searches against Modi, Choksi and their companies for the fourth day on Sunday , is also moving to attach at least two dozen immovable properties under the Prevention of Money Laundering Act.
Prime Minister Narendra Modi on Monday dedicated the warm welcome, respect and enthusiasm he received at the Allphones Arena in Olympic Park in Sydney to the 1.25 billion people of India.
To prevent exploitation of women, especially those in rural and tribal areas, the government has prohibited foreigners from commissioning surrogacy in the country and has drafted this comprehensive legislation.
Swiss banks seek fresh undertakings from Indians.
Several hundred Indian firms that manufacture or assemble Rs 10,000 crore worth of aerospace components annually for manufacturers like Boeing, Airbus, Lockheed Martin and Bell Helicopters now face disruptions relating to covid-19.
These parties also asked the Centre to present a revised comprehensive economic package that will be a 'true stimulus' and sought reversal of all unilateral policy decisions, especially pertaining to labour laws, as they put forth a 11-point demand charter before the government during a virtual meeting, called by the Congress to discuss the situation arising out of the pandemic as well as the lockdown.
Latest data from the Swiss National Bank showed that money parked by Indians in Swiss banks rose over 50 per cent to CHF 1.01 billion
Haven't we all united behind Prime Minister Narendra Modi, our national saviour-cum-reform evangelist? How can we still be in thrall to regionalist impulses, asks Vikram Johri
The agency on Friday also carried out searches on the premises of the Gitanjali Group at 20 places in Mumbai, Pune, Surat, Jaipur, Hyderabad and Coimbatore.
'No analogy is perfect, but a better liquid to liken data to is water, with the global internet like a great borderless ocean of currents and tides,' Facebook's vice-president, global affairs and communications, Nick Clegg, said in New Delhi.
Switzerland has been facing international pressure as countries step up efforts to curb illicit fund flows.
Exuding confidence in Narendra Modi's leadership, IT industry veteran NR Narayana Murthy today said the new Prime Minister is "in a position to change the course of dialogue" on US visas for the over $118 billion industry.
The UK has warned its citizens travelling abroad that they could be targeted by terrorists seeking revenge for British air strikes against Islamic State militants in the Middle East.
Raghuram Rajan is correct -- the RBI's monetary response to inflation in the past has been too weak.
India will be informing Sri Lanka about an official working with the Pakistan High Commission in Colombo who was allegedly playing a key role in planning terror strikes at the behest of ISI on the US and Israeli consulates in the southern part of this country.
After hectic diplomatic efforts, India finally got permission to land in Sanaa and the first flight with a passenger capacity of 120 has landed, the spokesperson in the external affairs ministry said.
