Category: Economics
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Shadow Banking
ILL&FS, an Indian shadow bank which closed late last year, may not have disclosed many of its bad loans to the government. A shadow bank is a unregulated institution that lends and conducts other financial activities without the consent of the government. A shadow bank is a danger to the government, for while it draws…
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Iran Once Again In A Fix?
India has pleaded the release of the rest of the crew from Iran. Iran had seized a Panama flagged tanker out of which 9 Indian crew members were released. India is now pushing for the release of the other three members as well. (See article: Iran- Why So Lonely? for more) Dozens of crew members…
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What’s RTI And Why Are People Protesting?
The Right to Information (RTI) is an important law in our constitution. It means, literally, that the citizens of India have the right to information, the right to know about the government’s doings. It gives anyone the opportunity to check the work of the government and question it if required, unless it is of national…
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Brexit Once More
As Theresa May( former prime minister of UK) steps down, Boris Johnson will take over. Johnson, a die hard fan of Brexit, has decided that it will occur by October 31st, which has been set as the ‘do or die’ date. For the first time since the idea of Britain’s exit, a full Brexit supporter…
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Iran- Why So Lonely?
Britain has announced the capture of one of their ships by Iran a hostile act. Iran has tried explaining that it was due to an accident but Britain has refused to accept it and considered it an act of war. This is weeks after the threat issued by Iran against Britain for doing the same…
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Zombies In Debt?
Allahabad Bank has recently reported a 259 million dollar fraud by Bhushan Power and Steel. Bhushan Power and Steel is a now bankrupt steelmaking company that has been around since 1970. This was after the Punjab National Bank also announced a fraud of 554.6 million dollars by the same company. India already has 200 billion…
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Turkey-USA Feud
Turkey has decided to receive specialised weapons systems from Russia, triggering USA’s sanctions against NATO (North Atlantic Treaty Organisation, formed between 29 European and North American countries) allies. The first parts of the system are being flown in, sealing the deal between the two countries. US has issued a threat saying that the Russian system…
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Indian Budget
The Finance Minister of India, Nirmala Sitharaman announced the budget for the new year. A budget is an estimate of the income and spending for a fixed period of time. This budget will be used to allow a certain amount of money for certain purposes such as infrastructure, education, healthcare, and defence. It comes from…
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Why Pakistan Supports Terrorism.
Pakistan has announced a crackdown against Lakshar-e-Taiba, lead by Hafiz Saeed. LeT, was blamed for the 2008 Mumbai terrorist attacks, which targeted the iconic Taj Hotel. Pakistan has decided to freeze all assets of the organization and the individuals and take them over. This is due to the Financial Action Task Force (FATF) placed Pakistan…