Saturday, 17 March, 2018

Econ & Biz


It’s time to review priority sector lending and pull commercial banks out of risks

With 40% of banks assets, or 32.4% of GDP, riding on this instrument alone, the debate about priority sector lending is not new. There is a new-found urgency to make it fit-for-purpose.
Chinese President Xi Jinping

China’s Belt and Road Initiative may bankrupt 8 nations while financing infrastructure

China’s track record managing debt distress has been problematic. It has not signed on to a binding set of rules of the road to avoid unsustainable lending and addressing debt problems.
Justin Trudeau

More agony for Canada as India raises chickpeas import duty again to 60%

The move is being seen as another snub to Canada after Justin Trudeau’s recent controversial visit to India.
A factory in India

India’s economy beats estimates to grow at 7.2% in third quarter of 2018

The growth in the overall economy was thanks to an uptick in agriculture, construction activity and manufacturing.
Punjab National Bank (PNB) branch in Mumbai

Punjab National Bank discussed fraud prevention in 2016, but didn’t introduce safeguards

A report to the central government says Punjab National Bank had debated putting in place safeguards to prevent fraud in 2016, but put no systems in place. 

Coming soon: National policy to set up charging stations for electric vehicles

In 15 days, the government will come up with a plan to increase the number of charging stations for electric cars across the country.
A protest against Nirav Modi in the Punjab National Bank fraud case in New Delhi.

How blockchain could have prevented a PNB-Nirav Modi scam

There were plenty of systems in place to prevent the Punjab National Bank-Nirav Modi case, but they failed. A blockchain-based system might have been more effective at preventing it. 
CBI team seals Punjab National Bank's South Mumbai branch at Brady House | PTI

30 public sector and co-op banks are susceptible to PNB-like fraud

Despite RBI warnings about the risks of the SWIFT messaging system, these banks have not linked it to their core banking systems.
Vikram Kothari

Rotomac bank fraud loan wasn’t for Vikram Kothari’s pen business but for ‘importing’ wheat

CBI has arrested and registered a case against Kothari and his family; the total amount of the fraud is alleged to be Rs 3,695 crore.
Indian currency

Who owns India’s banks? Definitely not Indians

Just before the Nirav Modi case, ex-RBI Governor Y.V. Reddy said Indian banking system is mainly owned by govt, followed by foreigners and least by Indians.
Se La Pass, Arunachal Pradesh

Se La tunnel to Make in India: Key projects that will be hit by Army’s rupee crunch

Se La tunnel, security for Army bases, war reserves, Make in India, vehicles and surface-to-air missiles are just some important projects that’ll suffer.
File photo of Anna Hazare with Anupam Kher, Manish Sisodia and Kumar Vishwas|

We, the thieving people

AAP chief Arvind Kejriwal waves to supporters while campaigning in 2014 in New Delhi.

Arvind Chitra Katha

Graphic showing Aam Aadmi Party and Arvind Kejriwal

An Apology of a Party: AAP, which set out to save India, is struggling to save itself...

The foundation on which AAP was built has all but crumbled. And its promise of changing the system and saving India is now a fading memory.

Gujarat Elections 2017