Even Delhi does not have a full-time registrar of chits.
Once these banks start showing losses, they will not be able to pay dividends to the government nor pay taxes, which will further aggravate the situation for the government as its return on investment as an investor would be very negligible for the next few years, says M V Subramanian.
The group needs to rustle up Rs 5,000 crore in cash and an equal amount in bank guarantees for bail.
While Visa and Mastercard slug it out for leadership, analysts say RuPay has the potential to cause disruption and eat into their market share.
Lifting the AFSPA can certainly be attempted but the provisions of the AFSPA, as an emergency law that empowers the army -- the nation's instrument of last resort -- must continue to remain on the statute books given the increasingly violent and uncertain times that the subcontinent is likely to face in coming years, says Nitin A Gokhale.
'India is no longer the India of the '70s and the '80s.' 'It's a large country with the fastest growing economy.' 'In working with India, you just can't go and humiliate the nation publicly.' USIBC President Mukesh Aghi tells Aziz Haniffa/Rediff.com about how he advises American companies to do business with India, what he thinks of Modi's government and the way forward for the India-US relationship.
Belgian-born Rich, whose trading group eventually became the global commodities powerhouse Glencore Xstrata, died in hospital from a stroke.
Finance Minister Arun Jaitley said the inflation index would determine the nominal growth figure, and it is better to set modest targets and outperform them.
There is no chance of the case against Devyani Khobaragade being dropped, but a plea deal is possible, which could avoid a jail term for the Indian diplomat, sources in the US government tell Rediff.com's George Joseph in New York.
Signal International, its network of recruiters and labour brokers are being sued for trafficking 500 Indian guest workers to the United States and forcing them to work under barbaric conditions. George Joseph reports for Rediff.com from New York
'Imagine how secure are our seaports and airports that 10,000 objects can leave every decade and our custodians are not even aware?' 'This kind of targeted looting when thieves pick and choose the best of Indian art and steal on an industrial basis will eventually impoverish our great land.'
The idea that every citizen in this country is to be numbered is the primary thing in the project.
'You have the home-cooked food. But on top of that you are having the sugary drinks, the junk food, the mithais and whatever else....' 'People should not be frying in this sunflower oil, corn oil or eating any foods fried in this stuff.' 'They should cook in butter or ghee or olive oil. That is much healthier.'
This is the joint statement issued by the ministry of external affairs on the visit of US President Barack Obama to India.
