What Really Happened at United Bank of India? Feb 26, 2014 Archana Bhargava, became the chairperson of UBI despite a patchy record but why did she suddenly leave UBI? Was she keen to report exaggerated bad loans and sanction dubious ones that alerted the RBI to act?
Why are healthcare costs shooting up? - II Feb 26, 2014 One of the reasons is the Bayh-Dole Act of the US, which allowed academic institutions supported by Federal grants to patent and license new products discovered by their faculty in return for royalties. This has created a nexus between academia and industry and doctors today have become puppets in the hands of the drug companies.
“Love what you do,” says Sharmila Bhide of Calsoft Feb 26, 2014 According to Sharmila Bhide of Calsoft, entrepreneurship gives one the opportunity to make her own mark. Her 16-year old technology venture, which employs 410 professionals, is a specialist in software product development services with niche expertise in storage, virtualization, cloud-computing, embedded, and networking
Why are healthcare costs shooting up? – Part I Feb 25, 2014 The pharmaceutical industry is spending lavishly on medical scientists and doctors for hospitality in expensive hotels, gifts, honorariums, conference and symposia expenses, consulting fees, and research grants. This money eventually is paid by the consumers in the form of soaring cost of medical treatment
RBI’s revised 20:80 gold import scheme and the confusion Feb 25, 2014 RBI came out with the 20:80 gold import scheme notification with an intent to curb volume of gold import in the country and create a more regulated domain for gold trading in India, but it ended up creating confusion among all due to lack of clarity on various issues
CSR activities: Can we expand it in some new areas? Feb 25, 2014 With corporates mandated to spend 2% of their net profit on CSR initiatives, can we expand use this into areas like foodgrain storage, adopting complete villages, helping railways in improving infrastructure etc., where it can make a huge impact?
Every Child Is Special Feb 24, 2014 How do you respond when you see a mentally retarded child? Feel sorry or get scared? Have you ever thought how they feel with such a reaction
Fixed maturity plans: Save Tax. Earn More Feb 24, 2014 March is the peak season for offers of FMPs. For the first time, backed by comprehensive analysis of data not in public domain, we present an FMP guide to invest, calculate returns and ways to ensure that tax is saved by double indexation
United Bank’s bulging NPAs: What went wrong? Feb 24, 2014 United Bank’s CMD opted for VRS as the lender reported 194% jump in its NPAs for the December quarter. This also brings forward the opaque procedures and appointments of statutory auditors and independent directors followed by India Inc
How banks create their own NPAs Feb 24, 2014 Handholding of a new borrower increases business possibility for future. Banks can be strict as a lender at right time but should be ready to act as friend and guide of the borrower, when required
Are policies of developed countries responsible for turmoil in EM? Feb 24, 2014 Are the US and other developed countries responsible for the emerging market issues? Or in the alternative, are the all the emerging market troubles home grown? It will be interesting to see who the developed countries blame when the problems they created for emerging markets return home
Moneylife Foundation launches Legal Helpline and Resource Centre Feb 24, 2014 Need help in legal matters? Moneylife Foundation has launched a new helpline and Legal Resource Centre that aims to provide help in 10 specific areas, like filing complaints, guidance on RTI, PILs, housing societies as well as wills and nominations
How Indian Overseas Bank is trying to mislead with an ad Feb 19, 2014 Indian Overseas Bank published an ad with a header “Performing Consistently, Growing Exponentially” while releasing its December quarter results. Only growth the Bank has shown in past five quarters is in bad loans
From KYC to know your customers’ business and its risk Feb 18, 2014 Banks need to go beyond the traditional approach of check box approach in KYC. The first step in risk mitigation in the banking system needs to start with know your customers’ business and the business risk
Why bank regulators fail? Feb 17, 2014 Killing off some zombie banks would be good for a system where banks are hoarding capital rather than lending it, but there is little political or economic incentive to do so
Do political patrons of the UID have their own Aadhaar number? –Part XXVIII Feb 17, 2014 Neither President Pranab Mukherjee, Congress chief Sonia Gandhi, Rahul Gandhi nor several ministers from UPA have enrolled for the Aadhaar scheme. Yet, the UPA government proposes to re-introduce the NIDAI Bill thus mocking parliamentary process at the fag end of the 5-year term after execution of the Aadhaar project
‘The same divinity dwells in the entire creation’ Feb 17, 2014 Swami Vivekananda spurred the old NRIs into engaging in any kind of business like that of selling Indian goods in the United States rather than cajole the white masters to provide them with menial jobs
Gold savings scheme from jewellers under SEBI scanner Feb 14, 2014 Finally, SEBI seems to have woken up to possible thousands of crores invested by consumers in gold savings schemes of jewellers. In these cases, there is no recourse, if the jeweller happens to shut shop. It is time these schemes are regulated to prevent any future scam
Who is \'pepper spray\' Rajagopal? Feb 14, 2014 L Rajagopal, the chairman of Lanco group and Congress MP sprayed pepper spray while the Telangana bill was being placed in Lok Sabha. Lanco, which is in the debt restructuring process, has also been frequently involved in a number of controversies
RTI Judgement Series: Publish details about pensioners on Delhi govt website Feb 13, 2014 The CIC directed secretary of Department of Women and Child Welfare at GNCTD to put out on its website, details of those who have been given pension and those who have been rejected. This is the 196th in a series of important RTI judgements given by former Central Information Commissioner Shailesh Gandhi
Should India keep off shale oil & gas? Feb 13, 2014 There is grim shale news from the US, due to water issues. India too needs to rethink on this new fuel source which requires large volume of water for hydraulic fracturing
Cheat sheet: The Tyson Gay file Feb 13, 2014 The web of dubious connections, suspect medicine and outsize risks behind America’s top sprinter’s failed drug test and ruined reputation
Is the blood you donate, going down the drain? Feb 13, 2014 In a recent RTI filed by an activist from Jammu, it has been revealed that blood donated by people was being discarded because of mismanagement by blood banks and hospitals. This, however is not the first time. Time for audit of blood banks?
Tax issues: Our online survey results Feb 12, 2014 Moneylife’s online survey on tax compliance and issues shows that one out of ten respondents indulges in tax avoidance, which can land them in trouble. TDS credit mismatch is still an issue for 40% of respondents
Is our political class trapped by economic hit men from database empires? -Part XXVII Feb 12, 2014 Wittingly or unwittingly, most political parties and media houses appear to be guilty of propagating self-serving and contrived nonsense about \\\\\\\'inherently fallible\\\\\\\' biometric identification (Aadhaar) based initiatives of US Department of Defense, NATO, World Bank Group and other international financial institutions
How Chidambaram can walk the talk on bank issues Feb 11, 2014 If Chidambaram’s expectation comes from genuine concern for public sector units, then it should be demonstrated by not giving ‘informal’ directions to transfer surplus income or profit to government or declare dividends to meet budgeted ‘quota’ of receipts
Scam-tainted officers gunning for Dr Ashok Khemka? Feb 11, 2014 In a letter to the Principal Auditor General of Haryana, Dr Ashok Khemka, under attack for his pathbreaking effort to introduce better quality of roofing in food storage godowns, has openly identified two tainted senior officers as gunning for him because of personal reasons
Intelligent Capital Allocation Feb 11, 2014 Warren Buffett has become the world’s most successful investor by seeking out companies that make excellent capital allocation. How does this work?
Interest rate cap for NBFC-MFIs modified – will it benefit the borrowers? Feb 11, 2014 While the NBFC-MFIs may have to review interest rates and borrowing costs on a quarterly basis, practically it may not be possible for them to review interest rates charged and revise instalments. Also in the tug of war of maintaining interest rates, the repayment history, credit worthiness of the borrower will become secondary considerations
Rail Budget: Will FDI in railways become reality? Feb 10, 2014 Ensuing interim railway budget may be populist, as elections are around the corner. However, there is dire need for the Railways to raise its own resources. Will Mallikarjun Kharge deliver what is most needed for the railways?
Where four state health exchanges went wrong Feb 10, 2014 Oregon, Minnesota, Maryland and Massachusetts are still struggling to get back on track after a disastrous launch that makes HealthCare.gov look successful by comparison
India-Pakistan talks are a mirage in progress! Feb 6, 2014 Both the army and political establishment in Pakistan have pulled the rug under each other\'s feet often, and nobody knows what really is happening in that country. In this case, India needs to take a firm stand, both politically and for trade relations
Which Super Bowl advertisers have run afoul of ad laws? Feb 6, 2014 More than 70% of companies in the queue for Super Bowl XLVIII spots have been accused of false or deceptive marketing within the last five years by either regulators, competitors, consumers in class-action lawsuits, or the industry’s own self-regulatory board
Is SEBI’s Rs50 lakh penalty on HUL promoters justified? Feb 6, 2014 Timely disclosure of shareholding is an important aspect of takeover regulation and non-compliance. However, penalty levied by SEBI on HUL promoters is a bit harsh given that there was neither reportable change in promoter shareholding during the defaulting years nor the duration of such delay enormous
Pune’s SOS Balgram under threat from vested interest? Feb 6, 2014 The SOS Balgram in Pune shares its compound wall with a lush green golf course. Last week Maharashtra government issued an order for closure of the Balgram citing maladministration. Is somebody eying the 9-acres prime land of the Balgram?
Share trading not covered under Consumer Act Feb 5, 2014 Regular sale and purchase of shares is a purely commercial activity and the only motive is to earn profits. Therefore, this activity is not covered under the provisions of the Consumer Act, the National Consumer Forum ruled
Life insurance fraud continues with impunity Feb 5, 2014 Fraudulent life insurance is being sold with impunity, often using IRDA’s name. Intermediaries have neither been penalised nor have they lost their license. There is a need for stern action from IRDA and insurers to curb the menace. Will the regulator act?
Dr Ashok Khemka: The ‘unsung’ hero Feb 4, 2014 Moneylife » Dr Ashok Khemka: The ‘unsung’ hero Dr Ashok Khemka: The ‘unsung’ hero 0 Comments, Be the first to comment + COMMENT Debashis Basu | 04/02/2014 04:39 PM | Here is the introductory speech by Debashis Basu about Dr Ashok Khemka, the Secretary to Haryana government. Dr Khemka addressed an august audience at Moneylife Foundation’s 4th Anniversary last week in Mumbai
Protesting against misleading ads by the state Feb 4, 2014 When does one do when the state itself lies? The withdrawal of the earlier series of Bharat Nirman ads showed how protests by citizens can force the withdrawal of misleading ads by the government
Exchanging Notes Feb 4, 2014 RBI’s order to withdraw all currency notes of pre-2005 creates confusion that could be easily avoided
Is Congress converging UID numbers of EVMs and Indian voters? –Part XXVI Feb 4, 2014 Congress has achieved its political objectives by using CBI, a caged parrot set up through an executive. Now, can it be ruled out that Nandan Nilekani, as a Congress candidate for the 2014 parliamentary elections, may use the Aadhaar database that is being created using an executive, to his and his party’s advantage?
Mumbai Monorail: Tall claims & the reality Feb 3, 2014 Mumbai Monorail's passenger carrying capacity per hour per direction is just 6,292 and not 20,000 as claimed by MMRDA. Similarly, with so many sharp bends and stations spaced at about a kilometre, the maximum speed of Monorail will be nowhere near 80kmph but will barely touch 45kmph
How To Wake Up a Deaf, Insensitive Government Feb 3, 2014 More and more politicians are adopting old-style agitation, brought back to fashion by Arvind Kejriwal, because it is probably the only way one can force a government to care about us
Emerging markets turmoil: Danger or opportunity? Feb 3, 2014 The combination of higher interest rates, economic slow down, and poor information means that the revelation of the true health of emerging markets-EM financial systems will not surface until the problems are too large to hide