The affidavit says Choksi is a "most intelligent and powerful influential identity and has hired a whole legal team for the purpose of doing systematic fraud".
India’s nearly $1.7 trillion formal banking sector is coping with $210 billion of problem loans, and some regional banks have been ensnared in fraud scandals.
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.
Ship of Theseus director Anand Gandhi moved to Goa to synthesise big ideas and build an Indian sci-fi mythiverse with MAYA. ‘In a way, the job title in the East for this enterprise is the Buddha.’
The industry forecasts exports are set to grow 16% in 2025-26, boosted by surplus domestic production and a drive to push into 26 underserved global markets with strong potential.
Indigenisation level will progressively increase up to 60 percent with key sub-assemblies, electronics and mechanical parts being manufactured locally.
It is a brilliant, reasonably priced, and mostly homemade aircraft with a stellar safety record; only two crashes in 24 years since its first flight. But its crash is a moment of introspection.
The progressively larger MoUs signed in 2007, 2009 and 2013 sound like nothing so much as a Ponzi scheme. Senior mandarins would have known how little was happening on the ground. Beyond generating hype and headlines, all these glitzy investor summits do not translate into genuine, employment creating economic activity. Something like the delegations CMs lead, generally in late summer, to cooler climes. 2. The banking system has been hollowed out by so many industrious folk, it is just a matter of time before the government is faced with a 1991 like situation and lets go of the PSBs. Gyan Sangam in Poona, a promise there would be no more phone calls from Delhi, Indradhanush, Bank Boards Bureau, recapitalisation, nothing has clicked.
The progressively larger MoUs signed in 2007, 2009 and 2013 sound like nothing so much as a Ponzi scheme. Senior mandarins would have known how little was happening on the ground. Beyond generating hype and headlines, all these glitzy investor summits do not translate into genuine, employment creating economic activity. Something like the delegations CMs lead, generally in late summer, to cooler climes. 2. The banking system has been hollowed out by so many industrious folk, it is just a matter of time before the government is faced with a 1991 like situation and lets go of the PSBs. Gyan Sangam in Poona, a promise there would be no more phone calls from Delhi, Indradhanush, Bank Boards Bureau, recapitalisation, nothing has clicked.
Another Modi’s crony taking India to the cleaners. As usual various govt agencies suitably facilitated the family’s escape.
What do we do now except wish them luck?