* Banking Ombudsman answers queries on LIBOR, Nostro and other joke words that bankers use Chennai, Feb 23: When it emerged that jeweller Nirav Modi and his company had cheated the State-owned Punjab National Bank to the tune of Rs 11, 400 crore using fake LoUs (Letters of Understanding), the news certainly raised several uncomfortable questions, chief of which was what the heck are these LoUs. One of the things

Caara Aattacaara!

The auto expo (which ended this week at New Delhi) always sees the unveiling of many exciting cars and other vehicles, many of which we hope don’t make it to our roads as they clearly fall under the category: industrial pranks. But unfortunately some of them do manage to get a mainstream release. We have car models like ‘Sail’, ‘Zen Carbon’, ‘Matiz’ in mind when we say this. We may

Russian doping, curling and other scandals

* Q and A on PyeongChang Winter Olympics Chennai, Feb 16:  Sports aficionados in Chennai have always been fascinated by Winter Olympics, especially because it is a celebration of — pay close attention here — winter. For, winter in these parts lasts for lesser number of days than the Olympics does. This time around, Winter Olympics is held in the South Korean city of PyeongChang, which was chosen for the

Share autos to Saturn

This week, scientists belonging to the private company SpaceX made a rocket carry a full-fledged car into space and let it into orbit, leading to the major finding that the scientists were all tripping on psychedelic drugs. Well, at least that is what I think could be the only possible discovery from the whole operation. I speak from experience. Back in college, we, in a spirit of similar inquisitiveness, used

Chennai cold gets worse, winter lasts for a historical high of 214 hours

* Climate scientists warn that by year 2318 cold conditions may last even up to 45 days Chennai, Feb 9: The worsening global warming phenomenon, in which summers get longer and hotter, winters longer and colder even though the years continue to have the same number of days, is having its inevitable impact on Chennai too. According to climate scientists, this winter in Chennai has been one of the longest

Cryptocurrency, starring Arvind Swami

Just when I was feeling bad about myself for not understanding anything about cryptocurrencies, came the happy realisation that I have a good company in: Arun Jaitley, the country’s Finance Minister. In his Budget speech, Jaitley said, okay I’ll be honest here, I fell asleep five minutes into it. Economics in itself is not a cheery subject. And when it is droned down, for a good part, in Hindi, it