Locked Out By KYC: How a ‘Banking Formality’ is Depriving India’s Poor of their Right to a Dignified Life
Ashok Parhaiya lives on the margins of subsistence in Uchvabal, a small village in Jharkhand’s Latehar district. Three of his children receive scholarships, but they are unable to withdraw the money because their bank accounts have been frozen. “Kwicy laga hua hai [KYC has been enforced],” explains Ashok. This is the
From Moderation to Polarisation: Maharashtra’s Political Identity Crisis
If one were looking for just one example of what is wrong with politics in the State of Maharashtra, a statement by the BJP leader and Deputy Chief Minister Devendra Fadnavis might serve the purpose well. In his capacity as Home Minister, referring to a youth who supposedly posted some
Maharashtra’s Prosperity Paradox – Frontline
Maharashtra’s economy dwarfs that of several national economies. In 2023-24, the nominal income of the State was Rs.40,44,251 crore. In dollar terms, at $483.1 billion, Maharashtra’s economy is larger than Nepal’s. Among Indian States, its economy is the largest. As much as 31 per cent of its income comes from
Wazir X: No One’s Problem, Everyone’s Money As Cryptocurrency Firm Hit By Cyberattack
In an endless stream of appeals for help, social media platforms such as X (formerly known as Twitter) have been awash with posts by people who traded or invested in crypto on the crypto trading platform WazirX pleading to get their money back. What happened to their investments and why
Hindenburg’s Shocking Report Puts Madhabi Puri Buch in the Spotlight and India’s Market Regulator Under Scrutiny
In a report published on August 10, US-based firm Hindenburg Research alleged that Madhabi Puri Buch, the chairperson of the Securities and Exchange Board of India (SEBI), and her husband previously held investments in offshore funds also used by the Adani Group. It says the Bermuda-based Global Opportunities Fund, which
Two Myths About the Indian Middle Class
The first myth is in invoking the “middle class” as synonymous with income taxpayers, investment gains, and so on. Promoting policies for the middle class, the ordinary Indian, or the common man naturally enjoy broad support. | Photo Credit: Rajanish Kakade Politics is about who gets what. This definition of
Global Reports Spotlight Rising Food Insecurity in India, But Modi Government Chooses to Shoot the Messenger
Each year, five organisations—the Food and Agricultural Organization (FAO), World Health Organization (WHO), UNICEF, International Fund for Agricultural Development, and the World Food Programme—join hands to publish a report on the state of food security and nutrition in the world. This report that comes close on the heels of the
SEBI’s Buch Under Pressure: Can India’s Market Watchdog Chief Weather the Storm?
When the Satyam scam came to light in January 2009, it was a bolt from the blue for India’s stock market. Unlike anything ever seen or experienced by way of scams, this was stunning in size, complexity and impact. Then chairman and CEO of the IT company, Ramalinga Raju resigned
Wayanad Landslide Disaster: When Nature Rewrote the Map
“This was Mundakkai,” murmurs a rescue volunteer, pointing towards his right. From where we stand, atop a destroyed house, the view is frightening. A huge expanse of land lies in front of a tall mountain, the earth raw and wounded, like a vast, long scar. The soil is a muddy
Editor’s Note | Vaishna Roy Writes: The Centre is Stripping States of their Fiscal Rights
To now create artificial rifts and systematically strip States of fiscal rights, as the Centre is doing, is destructive. | Photo Credit: Soumyadip Sinha When the British finally realised in 1947 that they must leave while they could still keep their upper lips stiff, there were close to 600 princely