Having an account in a foreign bank in a city of choice does not constitute a crime in itself. Doing legitimate business in geographies globally also does not violate any Indian financial or corporate laws.
Whether demonetisation has been able to make a significant dent on unaccounted wealth held by Indians is a question for which answers will come over a period of time.
It has reached a point when healthy practices like jogging in the morning, playing football or cycling has become hazardous in the national capital as the doctors warn that outdoor fitness activities pose a grave risk to the health of citizenery because Delhi’s air has turned viciously poisonous.
Journalism has earned itself another distinction with a remarkable difference, one that is nothing to feel elated about.
Supreme Court’s directive, to set up special courts to deal with ever-growing list of criminal cases against politicians, must be implemented right away. If Narendra Modi government is averse to such a call then elected parliamentarians, legislators and former lawmakers facing such charges should be debarred from holding any office till such cases are finally settled.
India leapfrogging 30 places in ease of doing business in the World Bank’s ranking has come at the most difficult time, yet most opportune moment for the Narendra Modi government. This has come as vindication of Modi government’s commitment and conviction to right of centre economic policymaking with easier terms of business for companies, services and exporters.
In a federal structure, states cannot question the authority of Parliament and central government to legislate on most issues barring a few. In the Indian context, Supreme Court has upheld this principle while holding up the West Bengal government’s petition challenging the centre’s decision to link Aadhaar and mobile numbers.
By committing Rs 2.11 lakh crore over two fiscal years for recapitalisation of public sector banks (PSBs), the government has done what was long overdue. After appointing a private sector professional as head of two PSBs, banking reforms had taken a back seat as nothing substantial was done by the bank board bureau, which was supposed to transform the working of PSU banks.
Are private sector banks catching up with their pubic sector counterparts in piling up non-performing assets (NPAs)? Well, that seems to be the case, if one were to go by latest data. True value of NPAs with private banks hitherto undeclared or little known seems to be emerging from the woodwork after the asset quality review undertaken by the Reserve Bank (RBI).
Empowering consumers through a modern, simple and progressive law is a welcome move. Apart from protecting consumer interest, the new law that replaces Consumer Protection Act of 1986, should be able to curb unfair trade practices.