Following is the full text of Prime Minister Manmohan Singh's speech at the Central Party School in Beijing on Thursday:
The modus operandi highlighted by CBI says that while the corporate strikes a deal for imports with a company in one country, the billing is done at inflated prices in other country by the group's front company.
Insolvency professionals feel the bankruptcy code will deter defaulters, but NPAs will not cease unless banks are sensitised on credit appraisal and experts are hired by banks to inspect what is happening with their loans.
'Even though he knew full well that the manipulation went against the facts as he knew them, Pillai nonchalantly contented himself with stating that since the file came from the minister himself, he just passed it on as it was,' says B S Raghavan.
'It is best that an amicable solution to the dispute is found outside the precincts of the courts of law,' says former Union home secretary Dr Madhav Godbole.
The petitioners, however, challenged the government's contention, saying this was an attempt to "overawe" the court
'Last year, Rs 20,000 crore was ripped off from the banking system.' 'The situation has deteriorated under the Modi government.'
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At the retreat, PSBs had suggested the government cut its stake in these entities to less than 51 per cent over a period of time and empower the boards of individual banks.
'The wheel does not need to be reinvented.' 'The question is whether we are prepared to put our shoulder to it to make it turn.'
Based on this screening, the committee may weed out applications that do not meet the eligibility yardstick or the 'fit and proper' criteria for securing a licence.
Has the Modi government been more at odds with institutions than other governments? There is no doubt that there have been more run-ins. While the RBI and CBI cases have drawn attention, there have been others, less publicised, Subhomoy Bhattacharjee points out.
'Mr. Modi has now become 1st PM to have his illegal orders set aside by the SC'
'NSA Doval and the PM are known to admire Israel's tough response to cross-border terrorism.' 'However, New Delhi's situation is far more complex than Tel Aviv's, which enjoys military superiority over all its neighbours,' says Ajai Shukla.
investors will look to the new governor to continue the banking sector clean-up with the same urgency as Mr Rajan, who was targeting fully cleaned-up and provisioned balance sheets by March 2017
A Delhi court on Thursday extended till July 19 the judicial custody of suspended Railway Board Member Mahesh Kumar and Vijay Singla, nephew of former railway minister P K Bansal, besides five others in the Rs 10 crore cash-for-post railway bribery case.
The Central Bureau of Investigation has arrested an Reserve Bank of India official and a JDS leader K C Veerendra, who is also a casino owner, in connection with separate cases relating to alleged illegal conversion of currency post-demonetisation.
India's snooping programme is officially underway and multiple agencies will use internet surveillance system Netra and National Cyber Coordination Centre to keep a tab on suspicious activities on the internet, says Vicky Nanjappa.
The Bureau of Indian Standards has certified 33 hallmarking centres in the country to act as collection and purity testing centres for the gold monetisation scheme.
The apex court agreed to hear on October 26 the petition by Verma challenging the government's decision. He has said in the petition that the CBI should be kept independent of the Department of Personnel and Training, which has jurisdiction over the probe agency, since it seriously hinders the CBI's independent functioning.
Private banks are assumed to be more efficient at intermediating between depositors and investors.
CBI and Enforcement Directorate are probing the huge remittances to Hong Kong from the bank.
'Here, after all, was a fine specimen of intelligence in the field that Adam Smith gave formal structure. And successful RR surely was as RBI chief.'
A random check of the database for India displays about 22 offshore entities, 1,046 officers or individual links, 42 intermediaries and as many as 828 addresses within the country ranging from the tony and posh locations of metropolitan cities like Delhi, Mumbai, Kolkata and Chennai to mofussil locations like that in Haryana's Sirsa, Bihar's Muzaffarpur and Madhya Pradesh's Mandasaur and state capital Bhopal.
The central bank dashed hopes of any steep interest rate reduction.
The jewellers and companies linked to Nirav Modi and Mehul Choksi had allegedly colluded with PNB officers to obtain fake bank guarantees to get loan from overseas branches of Indian banks including Allahabad Bank, Axis Bank and UCO Bank.
'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.'
Activist Teesta Setalvad on Monday recorded her statement before the CBI in connection with a case against her firm for alleged violation of FCRA.
Pollution is not merely the price to be paid for growth; it is also a drag on the same growth.
The Indian economy was on an impressive growth path through the first decade of this century till it was brought to an abrupt halt by the policy inertia during UPA2 and the Modi government's inability to restore economic and financial momentum. Fascinating glimpses of what went wrong from Puja Mehra's must-read book The Lost Decade: How India's Growth Story Devolved Into Growth Without A Story.
T K S Elangovan has alleged senior bank officials forged documents and faked authorisation from the RBI, to transport huge sums of hawala money during recent elections in the state.
In 2010, ministry told its officers nominated on PSB boards to stay away from big-loan panels; central bank followed suit.
Kerala Home minister Ramesh Chennithala said an inquiry has been ordered.
The probe into selections for banks such as Bank of Baroda and Canara Bank followed the arrest of Syndicate Bank CMD S K Jain for alleged graft.
'It is the impression in Kashmir that if ever a realistic resolution of the problem/dispute is sought to be seriously attempted by New Delhi, the BJP is the best bet,' says Mohammed Sayeed Malik, the distinguished observer on Kashmir.
The Sensex closed down 308 points at 24,894 and the Nifty has lost 96 points at 7,559.
China seeks to cash in on Modi's vision of modernising a creaking train system that 25 million people use daily
Bank CFOs may meet next week to discuss minimum public shareholding and takeover rule issues.
Former environment minister Jairam Ramesh on Thursday virtually backed the non-governmental organisation Greenpeace in the backdrop of an Intelligence Bureau report warning that the NGO is a threat to the country's economic growth.
The Election Commission has a fight on its hand as candidates use ingenious methods to smuggle in money to Voters.
The apex court imposed a fine of Rs 1 lakh each on them for wilfully disobeying its order by transferring CBI joint Director A K Sharma who was probing the Bihar shelter home sexual assault cases.
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