Here is a roundup of news from Indian newspapers, news wires and Web sites on Monday, August 2, 2010. The Wall Street Journal has not verified these stories and does not vouch for their accuracy.
Survival of Many Fund Houses in Danger:
First, there was outrage. Then, there were outflows. A year after the Securities and Exchange Board of India (Sebi) decided to ban entry load, the mutual fund industry’s equity assets are down by Rs 8,000 crore (net outflows), according to data from the Association of Mutual Funds in India (Amfi). (Source: Business Standard)
Eight Die as Valley Stir Worsens:
Even as the embattled Omar Abdullah government tried to grapple with worsening street protests, four people were killed in a blast at a police camp in Khrew in Pulwama district, with at least 35 others injured, after a fire triggered by protesters reached the armoury where explosives recovered from terrorists were stored. (Source: The Times of India)
Games OC Has ‘Proof’, UK Mission ‘No Recollection’:
The Indian High Commission in London has been left trawling through a vast cluster of emails after its junior clerk Raju Sebastian said he had “no recollection” of having recommended a British firm that received nearly a quarter of a million pounds from the Commonwealth Games Organising Committee (OC). (Source: Hindustan Times)
Haryana IAS Officers Become Members of Corporations They Head, Buy Flats Cheap:
Several IAS officers picked up apartments at concessional rates in prime locations in Haryana by becoming members of the employees welfare associations of the very corporations they were heading while on deputation.(Source: The Indian Express)
In a move that will have a major long-term implication, the Centre plans to expand the coverage of Below Poverty Line (BPL) population under the public distribution system (PDS) to 8.07 crore (or 80.7 million) from the current 6.52 crore based on the acceptance of the Tendulkar Committee’s poverty projections for 2011 by the Planning Commission. (Source: The Hindu)
Dissenting Former DoT Secretary to Depose Before PAC:
The deposition of DS Mathur, former telecom secretary, who even refused to sign any files on the matter till his retirement on December 31, 2007, could come as an embarrassment for Raja who is drawing flak for allegedly causing huge losses to the exchequer by giving out the valuable licences for a song to eight new players in January 2008.(Source: The Financial Express)
Bihar Sees Reverse Brain Drain:
The unprecedented reverse brain drain to Bihar is being led by people who never imagined they would return. Prakash, 42, has been in Patna for two years now, but on the day he had left the city in the early 1990s for Australia, he hadn’t at least thought so.(Source: Mint)
source: blogs.wsj.comHere is a roundup of news from Indian newspapers, news wires and Web sites on Monday, August 2, 2010. The Wall Street Journal has not verified these stories and does not vouch for their accuracy.
Survival of Many Fund Houses in Danger:
First, there was outrage. Then, there were outflows. A year after the Securities and Exchange Board of India (Sebi) decided to ban entry load, the mutual fund industry’s equity assets are down by Rs 8,000 crore (net outflows), according to data from the Association of Mutual Funds in India (Amfi). (Source: Business Standard)
Eight Die as Valley Stir Worsens:
Even as the embattled Omar Abdullah government tried to grapple with worsening street protests, four people were killed in a blast at a police camp in Khrew in Pulwama district, with at least 35 others injured, after a fire triggered by protesters reached the armoury where explosives recovered from terrorists were stored. (Source: The Times of India)
Games OC Has ‘Proof’, UK Mission ‘No Recollection’:
The Indian High Commission in London has been left trawling through a vast cluster of emails after its junior clerk Raju Sebastian said he had “no recollection” of having recommended a British firm that received nearly a quarter of a million pounds from the Commonwealth Games Organising Committee (OC). (Source: Hindustan Times)
Haryana IAS Officers Become Members of Corporations They Head, Buy Flats Cheap:
Several IAS officers picked up apartments at concessional rates in prime locations in Haryana by becoming members of the employees welfare associations of the very corporations they were heading while on deputation.(Source: The Indian Express)
In a move that will have a major long-term implication, the Centre plans to expand the coverage of Below Poverty Line (BPL) population under the public distribution system (PDS) to 8.07 crore (or 80.7 million) from the current 6.52 crore based on the acceptance of the Tendulkar Committee’s poverty projections for 2011 by the Planning Commission. (Source: The Hindu)
Dissenting Former DoT Secretary to Depose Before PAC:
The deposition of DS Mathur, former telecom secretary, who even refused to sign any files on the matter till his retirement on December 31, 2007, could come as an embarrassment for Raja who is drawing flak for allegedly causing huge losses to the exchequer by giving out the valuable licences for a song to eight new players in January 2008.(Source: The Financial Express)
Bihar Sees Reverse Brain Drain:
The unprecedented reverse brain drain to Bihar is being led by people who never imagined they would return. Prakash, 42, has been in Patna for two years now, but on the day he had left the city in the early 1990s for Australia, he hadn’t at least thought so.(Source: Mint)
source: blogs.wsj.com
