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2010 Housing Loan Scam In India
The 2010 fake housing loan in India was uncovered by the Central Bureau of Investigation (CBI) in India. CBI arrested eight top-ranking officials of public sector banks and financial institutions, including the LIC Housing Finance CEO Ramchandran Nair, in connection with the scam. CBI investigations CBI alleged that the officers of various public sector banks and financial institutions received bribes from a private financial services company, which acted as a mediator for corporate loans and other facilities from financial institutions. The bank officials sanctioned large-scale corporate loans to realty developers, overriding mandatory conditions for such approvals along with other irregularities. The Central Bureau of investigation arrested number of high official from the several financial institutes in India in connection with the housing scam in 24 November 2010. Smith (2010) stated that findings are shocking where the head officers of several banks and financial institutes ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Central Bureau Of Investigation
The Central Bureau of Investigation (CBI) is the premier investigating agency of India. It operates under the jurisdiction of the Ministry of Personnel, Public Grievances and Pensions. Originally set up to investigate bribery and governmental corruption, in 1965 it received expanded jurisdiction to investigate breaches of central laws enforceable by the Government of India, multi-state organised crime, multi-agency or international cases. The agency has been known to investigate several economic crimes, special crimes, cases of corruption and other cases. CBI is exempted from the provisions of the Right to Information Act. CBI is India's officially designated single point of contact for liaison with the Interpol. The CBI headquarter is located in CGO Complex, near Jawaharlal Nehru Stadium in New Delhi. History Special Police Establishment The Bureau of Investigation traces its origins to the Special Police Establishment (SPE), a Central Government Police force, which ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Hindustan Times
''Hindustan Times'' is an Indian English-language daily newspaper based in Delhi. It is the flagship publication of HT Media, an entity controlled by the KK Birla family, and is owned by Shobhana Bhartia. It was founded by Sunder Singh Lyallpuri, founder-father of the Akali movement and the Shiromani Akali Dal, in Delhi and played integral roles in the Indian independence movement as a nationalist daily. ''Hindustan Times'' is one of the largest newspapers in India by circulation. According to the Audit Bureau of Circulations, it has a circulation of 993,645 copies as of November 2017. The Indian Readership Survey 2014 revealed that ''HT'' is the second-most widely read English newspaper in India after ''The Times of India''. It is popular in North India, with simultaneous editions from New Delhi, Mumbai, Lucknow, Patna, Ranchi and Chandigarh. The print location of Nagpur was discontinued from September 1997, and that of Jaipur from June 2006. ''HT'' launched a you ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
2010 In India
Events in the year 2010 in the Republic of India. Incumbents Governors Events * National income - 76,344,721 million January * 2 January – First three Uttar Pradesh rail accidents: Three train accidents occur in Uttar Pradesh amid thick fog. Ten people died in the accidents and 45 others were injured. * 9 January – 2009 attacks on Indian students in Australia: An Indian man is set on fire in Melbourne, Australia, in the latest in a series of attacks on Indian nationals in the country. * 16 January – Fourth Uttar Pradesh rail accident: two express trains collide in thick fog in India's northern state of Uttar Pradesh. Three people died in the accident and around a dozen were injured. * 17 January – Fifth Uttar Pradesh rail accidents: A car hit by a train at an unmanned crossing in Barabanki district of Uttar Pradesh. Two of the six people in the car died and four got injured. * 22 January – Sixth Uttar Pradesh rail accidents: A goods train derailed near Azamgarh ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Political Corruption In India
Corruption in India is an issue which affects economy of central, state and local government agencies in many ways. Corruption is blamed for stunting the economy of India. A study conducted by Transparency International in 2005 recorded that more than 62% of Indians had at some point or another paid a bribe to a public official to get a job done. In 2008, another report showed that about 50% of Indians had first hand experience of paying bribes or using contacts to get services performed by public offices. In 2021 their Corruption Perceptions Index ranked the country in 85th place out of 180, on a scale where the lowest-ranked countries are perceived to have the most honest public sector. Various factors contribute to corruption, including officials siphoning money from government social welfare schemes. Examples include the Mahatma Gandhi National Rural Employment Guarantee Act and the National Rural Health Mission. Other areas of corruption include India's trucking industry ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Corruption In India
Corruption in India is an issue which affects economy of central, state and local government agencies in many ways. Corruption is blamed for stunting the economy of India. A study conducted by Transparency International in 2005 recorded that more than 62% of Indians had at some point or another paid a bribe to a public official to get a job done. In 2008, another report showed that about 50% of Indians had first hand experience of paying bribes or using contacts to get services performed by public offices. In 2021 their Corruption Perceptions Index ranked the country in 85th place out of 180, on a scale where the lowest-ranked countries are perceived to have the most honest public sector. Various factors contribute to corruption, including officials siphoning money from government social welfare schemes. Examples include the Mahatma Gandhi National Rural Employment Guarantee Act and the National Rural Health Mission. Other areas of corruption include India's trucking industry ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Rent Seeking
Rent-seeking is the act of growing one's existing wealth without creating new wealth by manipulating the social or political environment. Rent-seeking activities have negative effects on the rest of society. They result in reduced economic efficiency through misallocation of resources, reduced wealth creation, lost government revenue, heightened income inequality, and potential national decline. Attempts at capture of regulatory agencies to gain a coercive monopoly can result in advantages for rent-seekers in a market while imposing disadvantages on their uncorrupt competitors. This is one of many possible forms of rent-seeking behavior. Description The term rent, in the narrow sense of economic rent, was coined by the British 19th-century economist David Ricardo, but rent-seeking only became the subject of durable interest among economists and political scientists more than a century later after the publication of two influential papers on the topic by Gordon Tullock i ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Jan Lokpal Bill
The Jan Lokpal Bill, also referred to as the Citizen's Ombudsman Bill, was a bill drawn up by civil society activists in India seeking the appointment of a Jan Lokpal, an independent body to investigate corruption cases and complete the investigation within a year for envisaging trial in the case getting completed within one year. The Jan Lokpal aimed to deter corruption, compensate citizen grievances, and protect whistle-blowers. The prefix ''Jan'' () signifies that these improvements include inputs provided by "ordinary citizens" through an activist-driven, non-governmental public consultation. The word ''Lokpal'' was coined in 1963 by L. M. Singhvi, a member of parliament during a debate. Origins The demand for a Jan Lokpal was inspired by the Hong Kong Independent Commission Against Corruption and taken forward by a group of activists that came to be styled by the media as Team Anna. Key features Some important features of the bill are: # To establish an anti-corrupti ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Indian Political Scandals
The following is a ''list of proven scandals in India'' since independence, including political, financial and corporate scandals. The year, or decade, is when the scandal was first reported. 1940s * 1947 - INA treasure chest disappearance * 1948 - Jeep scandal case * 1949 - Gems Graft case 1950s * 1951 Cycle scam * 1956 BHU funds misappropriation () * 1958 Mundhra scandal () 1960s * 1960 Teja loan scandal () * 1964 Pratap Singh Kairon inquiry * 1965 Kalinga tubes scandal 1970s * 1971 Nagarwala case () * 1974 Maruti scandal * 1976 Kuo oil scandal () 1980s * 1981 Cement scam () * 1985 Fodder scam () * 1987 HDW Submarine scandal * 1987 Bofors scandal * 1989 St Kitts forgery 1990s * 1992 Indian stock market scam * Babanrao Gholap disproportionate-assets case * 1996 disproportionate assets case against Jayalalithaa * Cobbler scam * 1998 Ajmer rape case * 1998 Anubhav Plantations scam * Jalgaon housing scam * Sheregar scam * Ice cream parlour sex scandal * 1996 Sukh R ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Corruption Perceptions Index
The Corruption Perceptions Index (CPI) is an index which ranks countries "by their perceived levels of public sector corruption, as determined by expert assessments and opinion surveys." The CPI generally defines corruption as an "abuse of entrusted power for private gain".CPI 2010: Long methodological brief, p. 2 The index is published annually by the non-governmental organisation Transparency International since 1995. The 2021 CPI, published in January 2022, currently ranks 180 countries "on a scale from 100 (very clean) to 0 (highly corrupt)" based on the situation between 1 May 2020 and 30 April 2021. Denmark, New Zealand, Finland, Singapore, and Sweden are perceived as the least corrupt nations in the world, ranking consistently high among international financial transparency, while the most apparently corrupt are Syria, Somalia (both scoring 13), and South Sudan (11). Methods Transparency International commissioned the University of Passau's Johann Graf Lambsdorff to ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
The Economic Times
''The Economic Times'' is an Indian English-language business-focused daily newspaper. It is owned by The Times Group. ''The Economic Times'' began publication in 1961. As of 2012, it is the world's second-most widely read English-language business newspaper, after ''The Wall Street Journal'', with a readership of over 800,000. It is published simultaneously from 14 cities: Mumbai, Bangalore, Delhi, Chennai, Kolkata, Lucknow, Hyderabad, Jaipur, Ahmedabad, Nagpur, Chandigarh, Pune, Indore, and Bhopal. Its main content is based on the Indian economy, international finance, share prices, prices of commodities as well as other matters related to finance. This newspaper is published by Bennett, Coleman & Co. Ltd. The founding editor of the paper when it was launched in 1961 was P. S. Hariharan. The current editor of ''The Economic Times'' is Bodhisattva Ganguli. ''The Economic Times'' is sold in all major cities in India. Other ventures In June 2009, The Economic Times launch ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Life Insurance Corporation Of India
Life Insurance Corporation of India (LIC) is an Indian central public sector undertaking headquartered in Mumbai, Maharashtra, India. It is under the ownership of Ministry of Finance, Government of India. The Life Insurance Corporation of India was established on 1 September 1956, when the Parliament of India passed the Life Insurance of India Act, nationalizing the insurance industry in India. Over 245 insurance companies and provident societies were merged together.https://www.licindia.in/getattachment/Bottom-Links/annual-report/LIC-Annual-Report-2015-16.pdf.aspx LIC reported 290 million policyholders as of 2019, a total life fund of ₹28.3 trillion and a total value of sold policies in the year 2018–19 of ₹21.4 million. The company also reported to have settled 26 million claims in 2018–19. It ranked 98th on the 2022 Fortune Global 500 list with a revenue of and a profit of . History Founding organisations The Oriental Life Insurance Company, the first compan ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Adarsh Housing Society Mumbai
The Adarsh Housing Society is a 31-story building constructed on prime real estate in Colaba, Mumbai, for the welfare of war widows and personnel of India's Ministry of Defence. Over a period of several years, politicians, bureaucrats and military officers allegedly conspired to bend several rules concerning land ownership, zoning, floor space index and membership getting themselves flats allotted in this cooperative society at below-market rates. The scam was unearthed in November 2010 which forced the then Chief Minister of Maharashtra, Ashok Chavan, to resign. In 2011, a report of the Comptroller and Auditor General of India (CAG) said, "The episode of Adarsh Co-operative Housing Society reveals how a group of select officials, placed in key posts, could subvert rules and regulations in order to grab prime government land – a public property – for personal benefit." In January 2011, the Maharashtra government set up a two-member judicial commission to inquire into th ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
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