PUBLIC INTEREST


Sucheta Dalal Sucheta Dalal 27 October 2010
The apex bank enjoys a hallowed status, is not subject to any external audits, and its officials enjoy a slew of special privileges Even while the Reserve Bank of India (RBI) protests increased interference and supervision by the Financial Stability & Development Council (FSDC), there may be...

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Sucheta Dalal Sucheta Dalal 26 October 2010
HUFs cannot open a PPF or even a post-office account since May 2005; but people continue to be taken for a ride and the accounts continue to be opened out of ignorance This is an issue that is several years old, but we revisit it because too many people are still unaware of how the government...

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Moneylife Digital Team 21 October 2010
MLM company MAXFOREX has changed its name and website to ‘Dream Worldwide’, leaving many of its 'investors' high and dry In May, Moneylife had reported on how a multi-level marketing (MLM) company was offering 'trading' in foreign exchange through a high-risk investment module. (See:

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Sharad Matade 18 October 2010
More than 7,000 management course seats are lying vacant for the current academic year, across Maharashtra. The state has decided to scrap the CET to fill up these seats. The biggest beneficiaries will be those institutes which prefer donations over talent for admission This year, more than...

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Moneylife Digital Team 15 October 2010
Says the campaigns are objectionable and misleading; also asks J&J and Scorpio Enterprises to modify advertisements for making unsubstantiated claims The Advertising Standards Council of India (ASCI) has found objectionable three advertising campaigns by Reliance Communications for its internet...

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Moneylife Digital Team 14 October 2010
RBS Multicare Pvt Ltd runs a multi-level marketing scheme through its website, under the pretext of an associate or group company of the Reliance group. It even uses Dhirubhai Ambani’s photograph on its site If you don't have a brand name, misuse someone else's. This is an easy strategy to con...

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Ashok Shaw 13 October 2010
John Pinto, 26/11 hero, works relentlessly with an aim that the deceased are buried, cremated or repatriated with dignity. This is the first part of a three-part series On the night of 26/11, when most Indians were busy switching from one news channel to another, when concerned relatives were...

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Moneylife Digital Team 08 October 2010
An MLM company that claims to be Asia’s largest online survey company, does not even have an office address or a telephone number but is offering to ‘pay’ $10 just for filling out online surveys Speak Asia Online, which claims to be based in Singapore, is spreading its multi-level marketing...

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Moneylife Digital Team 08 October 2010
The Indian Railways is testing the anti-collision system with only two of the original four devices planned for each train, ostensibly to save money. But this could compromise its performance, preparing the ground for the purchase of expensive foreign technology The Indian Railways is...

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Samir Kelekar Samir Kelekar 05 October 2010
What is needed today to solve the problems of the poor is not so much esoteric technology but first and foremost clear logic as to where the problems lie. Most poor get deprived of what they should get because of corruption, and not lack of identity The UID programme has been launched without...

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Raj Pradhan Raj Pradhan 05 October 2010
The authorities are trying to iron out the chinks in the current electronic tax payment mechanism; a dedicated toll-free number has also been provided for resolving problems The Central Board of Excise and Customs (CBEC) is setting up a new helpdesk for addressing the issues faced by assessees...

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Moneylife Digital Team 04 October 2010
About a century ago, Gandhiji started the world famous 'Satyagraha' in order to oppose the identification scheme of the government in South Africa. Hundred years later, India is repeating a similar programme under the pretext of unique ID numbers As the old saying goes, 'Those who forget...

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Moneylife Digital Team 01 October 2010
UIDAI is trying to create a ‘unique’ database through its ambitious UID number project. But state governments planning to tag numerous details to the UID number and allowing other entities access to the system could leave the database vulnerable to misuse The Unique Identification Authority of...

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Devarajan Mahadevan 30 September 2010
The ‘unique’ ID card may also be issued to foreigners or illegal immigrants resident in India, say some reports. Why not issue the card to the whole world? Today's news report (no kidding): If unique identity (UID) officers are to be believed then foreigners or illegal immigrants staying in...

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Moneylife Digital Team 28 September 2010
MSBEF has demanded an enquiry into alleged corruption and financial irregularities by a senior official at the Agricultural Finance Corporation The Maharashtra State Bank Employees Federation (MSBEF), an umbrella organisation of bank unions, has demanded an enquiry into alleged corruption and...

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Moneylife Digital Team 27 September 2010
The nodal bank, a stronghold of the Congress-NCP combine, is in deep financial trouble due to its suspicious loan distribution to some of its favoured co-operative banks as well as some loss-making sugar co-operative factories Maharashtra State Co-operative Bank Ltd (MSCB), the nodal bank for...

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Moneylife Digital Team 24 September 2010
A proposal approved by the cabinet will constitute a statutory authority to be called the National Identification Authority of India. It’s the new name for UIDAI. The Union Cabinet on Friday approved a proposal to introduce the National Identification Authority of India (NIAI) Bill 2010 in...

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Moneylife Digital Team 22 September 2010
The know-your-distributor norms introduced by SEBI are making distributors see red; some feel that the mandatory biometric verification is stretching things a bit too far At a time when the assets under management (AUM) of mutual fund companies are dwindling rapidly, market regulator Securities...

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Moneylife Digital Team 20 September 2010
Senior Supreme Court lawyer provides details of cases and instances of “corruption” in the higher judiciary After former law minister Shanti Bhushan has sought to implead himself in the contemption petition filed against his son, Prashant Bhushan for his comments in a magazine interview, the...

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Moneylife Digital Team 17 September 2010
Order states that Adani Power Ltd cannot terminate the PPA with Gujarat Urja Vikas Nigam Ltd for non-execution of the fuel supply agreement with the Gujarat Mineral Development Corporation The Gujarat Electricity Regulatory Commission, in its order on 31st August, has directed a power company...

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