The gaping holes in Nostro account monitoring and the SWIFT messaging system were well-known. It just needed Nirav Modi to come along and exploit them.
The billionaire jeweller to the world’s rich and famous has done well for himself. But along with his blinding success, his troubles grew side by side.
The EPFO data for the Ghosh and Ghosh study was given by the Niti Aayog, which in turn was tasked by the Prime Minister’s Office to give quick indicators for direct reflections on employment data.
Vinod Dua discusses the recent Punjab National Bank Scam and how two of the bank’s employees pulled off one of India’s biggest banking con jobs.
Anuj Srivas and Ajoy Ashirwad Mahaprashasta explain.
Tata’s office has dismissed the Israeli media report, that says his name figures, as “grossly incorrect” in its references to him.
A few board directors are likely to resign in protest in the coming weeks.
The combined market capitalisation of the companies promoted by the Singh brothers, Malvinder and Shivinder, is now down to Rs 83 billion from nearly Rs 206 billion on the eve of the Ranbaxy sale.
The RBI’s relentless high interest rates are killing the new entrepreneurial class and has forced India’s growth rate to fall below the average of the past 30 years.
The department has claimed that the DRI’s adjudication order in the power equipment import case is “illegal and improper”.
While the competition regulator wisely steered away from stifling innovation, its order remains a missed opportunity in what could’ve been a seminal antitrust guideline tailored for India’s digital economy.
Many weavers and artisans are finding it difficult to migrate to the new GST system, or don’t have an income that would justify the effort it would take to comply with it.
While government departments and CPSEs are supposed to procure 4% of their goods and services from SC/ST suppliers, it has struggled to breach the .5% mark.
The search engine giant will now have 60 days to deposit the fine of $21.17 million. New Delhi: India’s antitrust watchdog on Thursday imposed a 1.36 billion rupee ($21.17 million) fine on Google for “search bias”, in the latest regulatory setback for the world’s most popular internet search engine. […]
Text of questions sent to the promoter of Swan Energy and the written answers he provided.
While the media, and the political class, focuses on other players, it is Nikhil Merchant who is truly experiencing ‘Achche Din’ as public sector firms line up to do business with him.
The Modi government’s attempts to reshape the economy lie entirely in the financial realm; they come on the back of concerted efforts to strip workers of legal protection in not just the informal sector, but also the formal.
The RBI stated that the “inflation outlook is clouded by several uncertainties on the upside” and “fiscal slippage as indicated in the Budget could impinge on the inflation outlook”.
In quashing the mining leases, the apex court has bluntly stated that the BJP-ruled state government was willing to sacrifice the rule of the law for the benefit of the lease holders.
These differences in magnitude of inequality among countries are mainly due to dissimilarities in external and internal policies.
New analysis shows that India’s place on the World Bank’s ‘Doing Business’ index would have been much more modest when methodological changes are ironed out.
India’s jump in the ‘Doing Business’ rankings turns out to be mostly an “artefact of methodological changes”, according to a report by the Centre for Global Development.
Nirav Modi, who had figured in the Forbes’ list of richest Indians, has been named in the cheating case on a complaint from the Punjab National Bank
The government will need to take strides over the next few months to pass the auxiliary reforms necessary to actualise its renewed vision for a truly digital India
The Budget has been a far too secretive and hidden exercise. Social sector expenditure and allocations related to policy announcements should be matters of open ongoing debate.
With farm exports declining and domestic prices below costs of production, it is unclear how the Modi government’s promise of doubling farmers’ incomes will be fulfilled.
It was hard to believe that the e-way Bill portal had crashed on the day of its launch. For a nation that exports its tech brains to all parts of the globe, this was much more than just a technical glitch.
Even as schemes have received minimal allocations, this budget signals an important shift in the political narrative. Gone is the focus on jobs, skills, aspirations and empowerment.
Vinod Dua breaks down the Union Budget 2018.
There is a paucity of demand of India – which requires an expansionary fiscal policy to revive employment, growth and investment.
The parties will now get a free pass for violations of the law going back 40 years.
The revised fiscal deficit target of 3.3% does not stand the test of credibility as it is based on a rather optimistic assumption that GDP will grow by 11.5%.
While the Rs 55,000 crore earmarked for this year is technically the highest since the scheme’s inception, it’s the same when taking into account the supplementary allocations infused last year and the scheme’s pending liabilities.
The panel had suggested a fiscal deviation band of 0.5% to deal with unforeseen events and enacting a new Debt and Fiscal Responsibility Act.
Welcome to The Wire’s live blog on the Modi government’s last full budget before 2019 elections.
The PHD Chamber of Commerce has also batted for replacing all income tax with a banking transaction tax, an idea that has found favour within parts of the Sangh Parivar but has been rejected by most economists.
Subramanian said the markets are surging because of money being diverted from real estate to gold and that vigilance should be increased to ensure that a sharp correction does not happen.
As per the annual survey, real GDP growth will rise to 7-7.5% in the coming fiscal year.
The revival of the Indian economy in 2018-19 faces strong headwinds because the unorganised sector has been marginalised repeatedly in the last 14 months.
Dior’s creative director printed on a t-shirt: “Why have there been no great women artists?” Be careful what you ask, Maria.