India needs an independent audit regulator

Context: Role of audit failure in recent scams exposes chinks in ICAI’s armour; adopting global best practices can help all stakeholders. Notably, there are already plans for annulling the self regulatory role that is currently played by the “Institute of Charted Accountants in India” (ICAI).   Replacement of ICAI: The Read More …

Mastering the seas

Context: China, consequently, decided to become a major player in the Indian Ocean Region (IOR). Deftly playing its economic and diplomatic cards, China has established a chain of maritime footholds in Myanmar, Sri Lanka and Pakistan, and acquired its first overseas military base in Djibouti last year. India’s recent development: Read More …

PSBs: Privatisation’s not the way to go

Context: Every crisis generates its own side business. The current one is the clamour for privatisation of public sector banks. The Punjab National Bank episode opened new wounds regarding the performance and prospects of PSBs. Issue: The issue of high level of NPAs with PSBs and their often getting into Read More …

The Fugitive Economic Offenders Bill, 2017

What is the Bill? The Bill aims to stop economic offenders who leave the country to avoid due process. Offences involving amounts of ₹100 crore or more fall under the purview of this law. Economic offences are those that are defined under the Indian Penal Code, the Prevention of Corruption Read More …