Thursday, 27 January, 2022
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Economy

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. 

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.

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.

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.

The World Bank’s terrible response to controversy over India’s Ease of Doing Business jump

The World Bank's response to the criticism of its 'Ease of Doing Business' rankings comes with no substantive rebuttal.

The rising cost of capital will trigger a shakeout

As money gets dearer the world over, it makes sense to lock into the current cost of funding to as great an extent as you can.

10 future shocks our world is completely unprepared for

According to the World Economic Forum’s Global Risks Report 2018, shocks such as the 2008 financial crisis may become more likely.

It’s time for the Modi government to sell its family silver

If the government is to budget properly for under-funded sectors, it needs to look beyond tax revenues which have risen smartly over the years.

RBI leaves rates alone, says growth will depend on stable financial management

The central bank has said that the economic recovery is on a stable path, but said inflation risks persist.

RBI keeps rates unchanged, but raises its inflation forecast

The central bank has raised its inflation forecast for the fourth quarter of the fiscal to 5.1 per cent

On Camera

YourTurn

Covid isn’t behind us, but the world’s next big health emergency is already here

Covid has led to 5.6 million deaths, but antimicrobial resistance is likely to log 10 million deaths annually by 2050. Its treatment has led to antibiotics' overuse, which has spiked drug resistance.
An Assicurazioni Generali SpA logo sits above an entrance to their offices in Rome | Bloomberg

Italian Generali buys 25% stake worth Rs 1,250 cr in insurance JV from embattled Future Group

The stake sale, which will give Generali majority control over the JV, comes as the Future Group is locked in a prolonged legal battle with partner Amazon.

Defence

The Indian Army's Akash missiles on display during the 73rd Republic Day Parade, at Rajpath, in New Delhi | ANI

Not just 1st R-Day, 26 Jan 1950 also significant as Indian Army, Navy shed ‘Royal’ prefix

Both the ‘Royal’ prefix for the Navy and Air Force in India, as well as the absence of such a label for the Army, have their roots in British military and political history.

Modi vs non-BJP CMs: When most popular isn’t all-powerful & why Centre-state ties will worsen

Modi’s inability to win many states, and the huge popularity his rivals enjoy there, is pushing Indian politics in a more robustly federal direction.
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