Category Archives: Finance Ministry

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PNB Will Need to Own Responsibility for ‘Bonafide Transactions’: Finance Ministry

PNB Will Need to Own Responsibility for ‘Bonafide Transactions’: Finance MinistryMorgan Stanley estimated if PNB had to assume all the liability from the fraud, it would need to dilute 14% of its capital at the stock’s current valuation. A Central Bureau of Investigation (CBI) official looks out from a closed door of a Punjab National… Read More »

Data Set for Modi’s ‘7 Million Jobs’ Claim Badly Maintained, ’30-40% Unclean’

Data Set for Modi’s ‘7 Million Jobs’ Claim Badly Maintained, ’30-40% Unclean’The Employees’ Provident Fund Organisation data analysed by researchers showed that in some cases, members have received contributions even before their joining date. Prime Minister Narendra Modi. Credit: PMO India New Delhi: A presentation made by State Bank of India chief economist Soumya Kanti Ghosh and Indian… Read More »

‘Jan Gan Man Ki Baat’ Episode 196: Punjab National Bank Scam

‘Jan Gan Man Ki Baat’ Episode 196: Punjab National Bank ScamVinod 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. Also read: Explained: Punjab National Bank’s $1.8 Billion Fraud The post ‘Jan Gan Man Ki Baat’ Episode 196: Punjab National… Read More »

Why has the Reserve Bank of India Killed the Indian Economy?

Why has the Reserve Bank of India Killed the Indian Economy?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. Credit: PTI In an interview Kaushik Basu gave to The Hindu on January 24, the former chief… Read More »

Budget 2018: Bitcoin in India is Dead. Long Live Blockchain

Budget 2018: Bitcoin in India is Dead. Long Live BlockchainBy categorically reiterating that cryptocurrencies could not be part of the ‘payment process’, India buries the economic possibilities of crypto as a currency.  However, the positive focus on blockchain technology is redeeming. Those critical of India’s ponderous, cryptic crypto policy so far might have to eat their… Read More »