The use of RBI capital to strengthen public sector banks will have many positive implications for the economy -- and a few manageable downsides, points out R Jagannathan.
The government has suffered a loss of Rs 12,488.93 crore (Rs 124.88 billion) due to under-invoicing of gross revenue by six telecom companies including Reliance Communications, Vodafone and Bharti Airtel, the CAG said in a damning report on Friday.
Rediff.com's Syed Firdaus Ashraf traces the journey of PM-CARES from its founding to finally admitting it is not a government fund.
It was an extraordinary turnaround for an Olympics that was expected to be held without major issues by a country known for public safety and economic stability. It also revealed a fatal miscalculation by Japanese and IOC officials of public sentiment at a time of heightened fears over the coronavirus.
The parliamentary committee on IT has recently been in the news for asking global representatives of Twitter, Facebook, WhatsApp and Instagram to present their views on misuse of social media platforms and its impact on citizens.
Experts say, auditors must not allow themselves to be intimidated by the client management into conducting audits by conversation. It is important for auditors to conduct proper interviews and ask probing and searching questions.
Das said that global economic activity has remained fragile and the surge in COVID-19 cases has subdued early signs of revival.
'A one-party State is not possible in a diverse country like India.'
The Committee, which has been set up in pursuance of the announcement made by the Minister in his Budget speech, will also suggest whether the unclaimed deposit should come to government or be kept in a separate account.
The current process for selecting auditors could compromise their "independence".
Asaduddin Owaisi's AIMIM, which is going to contest next year's Uttar Pradesh Assembly polls on the promise of creating leadership among Muslims, has created unease in the political parties that so far considered the members of the minority community as their core "vote bank".
The government has no plan to print currency notes to tide over the current economic crisis triggered by the outbreak of COVID-19 pandemic, Finance Minister Nirmala Sitharaman informed Parliament on Monday. To a question on whether there is any plan to print currency to tide over the crisis, the finance minister said, "No Sir". Many economists and experts have suggested to the government to print more currency notes to tide over the difficult economic situation with a view to support the economy ravaged by the spread of COVID-19, and protect jobs.
In a drastic measure to stem any major disruption to the US economy as a result of the coronavirus outbreak, the Federal Reserve has cut its benchmark interest rate to almost zero and said it would buy USD700 billion in bonds. The covid-19 pandemic has sickened more than 156,000 people worldwide and left more than 5,800 dead. The death toll in the US stands at 68, while infections neared 3,700.
In the first two months of the current fiscal, Indian exports of finished steel reportedly grew by almost 76 per cent on a YoY basis and China alone accounted for close to 60 per cent of the increase.
The Seventh Pay Commission had decided to choose the CPI-IW as the index for adjusting inflation for central government employees.
India-born US district judge Amit Mehta, an Obama appointee, has been assigned the justice department's crucial lawsuit against internet search giant Google.
Members of Parliament, state legislatures, and local governments not eligible to be members of PSB boards
The Delhi high court Wednesday expressed its displeasure over the use of the term jumla by former Jawaharlal Nehru University student Umar Khalid in his criticism of the prime minister while delivering the speech.
In a statement, Rosen Law Firm said it is investigating potential securities claims on behalf of shareholders of Infosys resulting from allegations that the company may have issued materially misleading business information to the investing public.
The Election Commission has done its homework pretty well on political hashtags, observes ad guru Sandeep Goyal.
'Under Section 79 of the IT Act, Facebook is mandated to exercise care. Once you have a duty, you do not have the right to silence; you need to show compliance.'
Citing overlapping of functions, a parliamentary committee on Monday recommended integrating Central Vigilance Commission and anti-corruption wing of the Central Bureau of Investigation to work directly under the command and control of Lokpal to deal with corruption cases.
The RBI had on August 7 announced a five-member expert panel under former ICICI Bank chairman Kamath to make recommendations on the required financial parameters for recasting corporate loans.
The I-T officer can go back up to six years to scrutinise the books of accounts of the assessees.
'The downslide has been rapid leading up to the number one and number two of the organisation flinging against each other horrendous accusations of bribery and tampering with investigations for personal gain, and the latest petition to the Supreme Court by the joint director of the CBI, M K Sinha, opening a veritable Pandora's Box of repulsive skeletons,' notes B S Raghavan, the distinguished civil servant who witnessed the CBI's birth.
'Somewhere along the way, elected office-bearers appeared to have lost sight of the interest of cricket and begun to pursue their own interpretation of what the game should be.' 'Families made it a tradition to have their representatives occupy, if not usurp, positions in state associations,' points out Vinod Rai, who will step down as head of the BCCI's Committee of Administrators on Wednesday, October 23.
The panel will submit its recommendations to a ministerial committee, headed by Union Home Minister Rajnath Singh.
Some important simple truths about the issue may be more helpful than high sounding debates, asserts Mohammad Sajjad.
In all this, the political establishment -- and especially the finance ministry -- appears the weakest link, and worse still, the possible reason for the political backing to Narain and Ramkrishna that emboldened them to defy all the sentinels -- the independent board, the auditors, top management persons like the chief compliance officer, the company secretary, and unbelievably the super-regulator Sebi, observes V Ranganathan.
The current battle within the party is seen as setting the stage for August 10 when Sonia completes one year of interim presidentship, and questions are being raised about a leadership vacuum. For the first time, responsible quarters are suggesting that as Sonia cannot function as interim president indefinitely and Rahul seems to want power but not the responsibility, one way out is collective leadership, reports Aditi Phadnis.
The allegations by an unnamed person, who claimed to be an ex-colleague of Johri at the Discovery Channel, were posted on Twitter by an author, Harnidh Kaur, who later stated that she did not want the charges published nor her name used in the context.
To ensure effective distribution and supply of foodgrains through rations shops, the food ministry has called for creating advisory committees of experts in places where godowns of Food Corporation of India (FCI) and other state agencies are located.
Lenders say settlements will cross over 100 accounts in the March quarter.
The government also said it will hold consultations with the airlines to explore the possibility of curbing the menace of charging exorbitant airfares during emergency situations.
The United States has demanded the immediate and full restoration of the democratically elected government in Myanmar and said that America stands with the elected representatives of the Asian nation.
'The Himmatsinghji Report is still 'missing'.' 'It is a great loss for the knowledge of India's borders.' 'It would have an immense value at a time China is bound to shift its attention to other border fronts in the Himalayas,' notes Claude Arpi.
The intention of the government is to cap prices of drugs that are essential and which the public widely uses.
Of the three major Budget announcements related to the banking sector, privatisation of PSBs is the most audacious, says Tamal Bandyopadhyay.
The Congress may get chairmanship of the prestigious Public Accounts of Committee but still there is no guarantee whether it will get the post of Leader of the Opposition in the Lok Sabha.
Chinese manufacturers are re-routing their products through the markets of other countries that India has Free Trade Agreements with.
