Upsetting the apple Karti

The arrest of Karti Chidambaram, son of senior Congress leader P Chidambaram, injects a further element of confrontation in the polity. Though the arrest took a long time coming, the CBI-ED have all along asserted that they had a cast-iron case of money-laundering and criminal conspiracy in the INX Media case. Karti was arrested on Wednesday at Chennai airport on his return from London. He stands accused of taking bribes

Wall lays the foundation

Rahul Dravid, the former Indian captain, continues to add to his stature as a sporting legend. Dravid, the head coach of the Indian team that won the U-19 World Cup in New Zealand earlier this month, has ensured parity in cash rewards for the team’s support staff. The Indian cricket board (BCCI) had originally announced a cash reward of Rs 50 lakh for Dravid and Rs 20 lakh each for

No stopping Xi

It was under Deng Ziaoping’s leadership that the Chinese constitution was amended to limit the president’s terms to two. But, now, this is about to change. Inspired, no doubt, by Xi Jinping, the top decision-making body of the Communist Party last week recommended that the two-term limit on president be removed. Endorsement of the same by the parliament at its next meeting is a mere formality. Which means that Xi

Coal is opening up

Another excess of Indira Gandhi’s type of socialism was sought to be undone, albeit partially, when the Government last week allowed the private sector to enter the coal sector. Coal mining was largely in the private sector till she took over the industry, driving out old and established mining firms. The Coal Mines (Nationalisation) Act, 1973, created a State monopoly in Coal India, transferring all coal holdings under it. Corruption

Guarding the guards

Finance Minister Arun Jaitley has expressed displeasure over the failure of the banking sector regulator and auditors in detecting banking frauds in time. He said that the political leaders are being blamed for the frauds but not the regulator or the auditors who are primarily tasked to oversee the functioning of individual banks and the banking sector as a whole. Meanwhile, the CBI examined Punjab National Bank (PNB) Managing Director

A win in Paris

The action of the G-7 sponsored Financial Action Task Force’s (FATF’s) just-concluded plenary in Paris of putting Pakistan on the grey list, submitting it to intense scrutiny on terror financing is a shot in the arm for India, which has been facing the brunt of Pakistani financing of terror in Kashmir. That it has been operationalised, thanks to intense US pressure, is an encouraging signal of Indo-US bonding. A last-minute