Corruption affecting good governance: PM

Prime minister Manmohan Singh said that introduction of competition, greater choice and modern technology could cut down the opportunities for corruption in a very meaningful manner

New Delhi: With his government under attack over various scams, prime minister Manmohan Singh today spoke out against corruption, saying that it strikes at the roots of good governance, dents the country's international image and "demeans us before our own people", reports PTI.

"This is a challenge which has to be faced frontally, boldly and quickly," he said addressing the annual conference of chief secretaries of states here.

He said, "Corruption strikes at the roots of good governance. It is an impediment to faster growth. It dilutes, if not negates, our efforts at social inclusion.

"It dents our international image and it demeans us before our own people," Mr Singh said.

Referring to the Group of Ministers (GoM) headed by finance minister Pranab Mukherjee and set up recently to look into all measures, legal or administrative, to tackle the menace, he said two bills have already been introduced in Parliament relating to judicial accountability and the protection of whistle blowers.

"Along with legislation, the necessary revamp of administrative practises and procedures needs to be fast-tracked. A systemic response that reduces opportunities for corruption needs to be put in place," Mr Singh said.

Serious concern has been expressed in many responsible circles about the lack of ethical conduct and probity in public life, he added.

The prime minister said that the introduction of competition, greater choice and modern technology could cut down the opportunities for corruption in a very meaningful manner.

Delays, another major cause, could be addressed to a large extent by effective decentralisation and delegation of power and responsibility, he said while seeking the support of top bureaucrats in bringing about vast improvements in governance.

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COMMENTS

Melvin Joseph

6 years ago

The delay in judicial processes and a very complex legal system will help to create more criminals and more Corruption cases in India.
We are still ''maintaining'' Kasab! This will motivate more people to think that we can do anything for making quick money. Moral standards have come down like anything. We are hearing reports of 4 year old girl is being raped!
We should have Quick decisions in each of the reported crimes and a decent punisment in all these, so that people will refrain from these.

Stempeutics receives DCGI approval to carry out phase II trials for 4 debilitating diseases

Stempeutics Research is working towards hitting the first stem cell “off-the-shelf” product in the Indian market by the end of 2013

Stempeutics Research, a group company of Manipal Education & Medical Group said that it has received the Drug Controller General of India (DCGI) clearance for its Investigational Medicinal Product "Stempeucel" to conduct phase II clinical trials. The human studies are for patients suffering from osteoarthritis, diabetes mellitus - type2, liver cirrhosis and chronic obstructive pulmonary disease.

Stempeucel is an allogeneic product developed from mesenchymal stem cells derived from donated bone marrow using the company's proprietary technology.

Earlier the company received approval from DCGI for phase I/II clinical trial for acute myocardial infarction and critical limb ischemia in March 2009. Stempeutics is funded by its shareholders - Manipal Group and Cipla.

Being the first of its kind stem cell product developed in India, it took almost 15 months to get DCGI clearance. DCGI referred Stempeutics proposal to Indian Council for Medical Research for review and recommendation. ICMR constituted an expert stem cell committee to examine the proposal and the committee accepted the study as phase II clinical trials. The DCGI's clearance of Stempeucel product for the four debilitating diseases is one of Stempeutics's significant accomplishments towards its goal of bringing safe, effective and affordable stem cell based product in India in the near future.
India becomes one of the leading countries after USA to enter this phase of stem cell research, stated BN Manohar, CEO, Stempeutics Research.

The clinical trial will be a multi-centric, placebo controlled, double blind, study. Based on the successful outcome of clinical studies plans to introduce the first stem cell based drug - available off the shelf in India by end of 2013, he added.

"We are the only company in India which has achieved this significant mile stones. Our team is working towards hitting the first stem cell "off-the-shelf" product in the Indian market by the end of 2013. Stempeucel product has been developed using international standards with stringent quality control. We have pioneered large scale upscaling of mesenchymal stem cells and we expect that it will be the most cost effective product globally, stated the Stempeutics chief.

Stempeutics has completed pre clinical studies demonstrating the appropriate safety profile of Stempeucel product. In Malaysia, Stempeutics is in the final stage of getting Malaysian FDA which is a National Pharmaceutical Control Bureau (NPCB) approval for CS and OA clinical trials. Stempeutics' plans are to market its products in the Asian, European and North American markets.

The company is also investing on its R&D programs to bring out some innovative products in the near future based on MSCs derived from Wharton's Jelly, Adipose Tissues and Dental Pulp.

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NSE, BSE caution against trade in over 1,900 securities

The number of illiquid securities has gone higher at both BSE and NSE from the month-ago level. BSE had listed out a total of 1,814 illiquid stocks, while there were total 204 such securities at NSE last month

Mumbai: India's top two stock exchanges the National Stock Exchange (NSE) and Bombay Stock Exchange (BSE) on Thursday asked marketmen to be extra careful about trade in over 1,900 securities, sensing a high-level of risk in executing trade on these counters, reports PTI.

While most of these securities are little known, there are also stocks of some well-known companies such as Asian Hotels, IRCON International, Arrow Textiles, AstraZeneca Pharma India, Celebrity Fashions, Cyber Media, EIH Associated Hotels, Mukta Arts and Zodiac Clothing Company.

In separate circulars issued yesterday, the BSE and NSE released lists of securities found to be "illiquid" on their platforms and asked the marketmen "to exercise additional due diligence while trading in these securities either on own account or on behalf of their clients".

While BSE listed out as many as 1,907 securities in its list of 'illiquid securities', the NSE found 237 such securities being traded on its platform. There are many stocks that are common on both the lists.

While more than 7,500 securities are listed on the BSE, the total number of listed securities at NSE is much lower at about 2,300.

The Securities and Exchange Board of India (SEBI) has directed the two exchanges to draw up a list of illiquid securities every month based on criteria jointly decided by SEBI, NSE and BSE.

The number of illiquid securities has gone higher at both BSE and NSE from the month-ago level. BSE had listed out a total of 1,814 illiquid stocks, while there were total 204 such securities at NSE last month.

Such stocks are identified on the basis of their liquidity being very low, thus enhancing the risks for the investors in finding buyers or sellers. The illiquid stocks are traded infrequently and any large deals in these stocks can cause huge fluctuations in their prices.

Those termed as illiquid stocks this month include Advani Hotels & Resorts, Alfa Laval India, Batliboi, Chemfab Alkalis, Chettinad Cement, Cinevistaas, Creative Eye, Cambridge Technology and Deccan Cements.

There are also names like Emkay Global Financial Services, Gokaldas Exports, Gujarat State Financial Corp, Heritage Foods Kalyani Forge, Uniply Industries, Kinetic Engineering, Kirloskar Industries, Oriental Hotels, Salora International and Mysore Petrochemicals.

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COMMENTS

Sanjay mehrotra

6 years ago

Please inform me, From where I can get full list of these 1900 companies ?

Neeraj Sharmaa

6 years ago

From where we can get full list of these companies ??

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