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India discovers huge uranium reserves | Intersect Insight
The Uranium Corporation of India Ltd (UCIL), in a fresh estimate, announced the uranium reserves in and around Tummalapalle village in Kadapa district of Andhra Pradesh could go up to 0.15 million tonnes, a 10-fold increase from the original estimate of 15,000 tonnes. In Depth Exploration in the arid region of Andhra Pradesh in southern India has shown promise of further reserves that could potentially make Tummalapalle one of the world’s largest uranium deposits. The new facility will provide a major fillip to the country’s nuclear programmes, Atomic Energy Commission (AEC) Chairman Srikumar Banerjee said while speaking to reporters after commissioning the UCIL’s biggest uranium ore mine and processing plant at Tummalapalle. The Tummalapalle plant, built at a cost of US$200 million, has a mining and processing capacity of 3,000 tU a day, which is adequate to meet the fuel needs of 25% of India’s operating nuclear power plants (NPPs).
Indian uranium ore mine projected to be globe's largest
A Southeast India uranium processing plant is expected to help drive the nation's efforts toward energy security, according to Mineweb. Uranium reserves in Kadapa, Andhra Pradesh are believed to be the globe's largest, which would be of benefit to mine sation efforts. The commissioned plant comes is welcome to the nation that has been importing uranium from throughout the world in order to help power its nuclear plants.
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NEW YORK — JPMorgan Chase & Co. said Thursday the bank has repurchased $8 billion of common stock and warrants as of Sept. 30. In a regulatory filing, it also confirmed the Federal Reserve has approved a $950 million increase to a $15 billion multi-year program to repurchase shares and warrants, bringing the approved repurchase amount this year to $8.95 billion. The approved amount for the year was set at $8 billion earlier. The bank's Chief Executive Jamie Dimon mentioned the increase Wednesday at the Goldman Sachs financial services conference, saying there was an increase as the bank didn't use the full amount the Fed had allowed it to pay in dividends.
JPMorgan Repurchases $8B Stocks, Warrants - Syndication Content Article - American Banker
How to Indefinitely Detain JP Morgan President Jamie Dimon | jwz
Too difficult to prosecute Wall Street crime? Don't! If there's one thing we've learned about Wall Street crimes, it's that they're difficult to nail down with certainty and get convictions on. The defendants have access to the highest-priced, fanciest defense lawyers and bottomless PR resources. The law makes it difficult and sometimes impossible to tell with certainty the difference between conscious fraud and merely poor "business judgment."
Crisis of competence
Economic policy in India, especially in the last two years, has been unfocused on the real issues and instead has diverted attention to more peripheral ones. The separation of political power from the leader of the government has made things much worse. The National Advisory Council is the ultimate policymaker, particularly on all domestic economic policy issues, not the cabinet; that is, the leader of the Congress, not the prime minister. The NAC is composed of many extraordinary and compassionate people, with sympathy for the poor and vulnerable, but little capability for thinking through the mechanics for policy implementation. They designed thoughtful programmes that have, despite being poorly implemented, benefited many millions of the very poor. However, the United Progressive Alliance government’s official economic policymakers have not quite grasped the implications of the phrase, ‘inclusive growth’, or of concern for the ‘ aam aadmi ’.NEW DELHI: Rejecting Opposition demands, government on Wednesday refused to make public information received from foreign countries with regard to Indian account holders but expressed readiness to issue an elaborate document on the problem. Finance minister Pranab Mukherjee told the Lok Sabha that revealing the information received from other countries would violate the understanding with a sovereign government and could hurt the Indian businesses as some of them could be genuine investors abroad. Mukherjee said no Member of Parliament figures in the list of account holders abroad that he had received. He was replying to a debate on Adjournment Motion on Blackmoney moved by BJP leader L K Advani which was later defeated by voice vote.
Black money: We can't make details of Indian account holders public, says Pranab - Times Of India
Black money: Govt refuses to disclose names - Hindustan Times
Senior BJP leader LK Advani speaks in Lok Sabha in New Delhi. PTI The BJP's bid to censure the UPA government in the Lok Sabha for "failing" to bring black money back from foreign banks was rejected by the House on Wednesday. Replying to the debate on the motion, finance minister Pranab Mukherjee said no Member of Parliament figured in the list of account holders abroad. Moreover, he said the government had succeeded in preventing the flight of about Rs. 66,000 crore out of the country and checked tax evasion to the tune of Rs. 33,784 crore. Mukherjee explained that any disclosure of names would violate the understanding reached with sovereign governments, hamper actual detection and seizure of black money and assets and even adversely affect some Indian business houses, which could be genuine investors abroad.
Deeptiman Tiwary, Mumbai Mirror Dec 15, 2011, 10.06am IST Contrary to popular perception, it's not our politicians who top the list of black money hoarders in foreign banks, but corporates and Bollywood personalities. If a list of account holders from India at HSBC's Geneva branch is anything to go by, politicians from Maharashtra have hardly any money in Swiss accounts. None of the top politicians figure in the list.
Black Money: 100 Mumbaikars on secret Swiss list - Economic Times
The Expenditure Monitoring Committee of Election Commission of India (ECI) seized Rs 60 lakh of foreign currency from Jagraon in Ludhiana district on Wednesday evening. Informing about the seizure, allegedly black money in foreign currency, which is so far the first recovery in the State during election period, Gurkirat Kirpal Singh, Joint Chief Electoral Officer of Punjab said the money had been delivered to the Enforcement Directorate (ED) for further investigation. He said an accused has been identified as Ashwani, based in Jagraon was working as a money exchanger in the area, has been arrested. Local police nabbed him when he failed to submit proper details of foreign currency amount to Rs 60 lakh. This is the first time that such a sizeable amount of foreign currency has been seized since the model code of conduct came into force. Election Commission has asked the police officials and district police heads to keep tabs on such activity.
Punjab polls go global: $ 1 lakh election booty seized
Delhi businessman admits to Rs 73 cr black money - India News - IBNLive
New Delhi: In the biggest ever disclosure of black money stashed abroad, a Delhi-based businessman has admitted to an undisclosed income of Rs 73 crore to the Income Tax department. He also gave details of secret lockers held in banks in Switzerland, Singapore and the US. The I-T department suspects a multi-layered Hawala racket and money laundering being operated through these accounts, both in India and abroad, and is probing the role of some high profile individuals with possible political links.
Anna Hazare and Jan Lokpal Bill – Drama Ends
It is scary to realize for what reasons the Lokpal could have been used if it became a reality under the current shape. Corporates, NGOs and Media would have become the super powers of a country already taking the path of neo-capitalization. By– Priyankan Goswami | Date- January 07, 2012Be the change you want to see
Government must take strong steps against corruption. But citizens should also speak out and stand up against the corrupt. Global Financial Integrity, an international organisation which aims at curtailing cross-border flow of illegal money, has in its latest report, which was published in December 2011, states that nearly six lakh crore rupees were siphoned out of India between 2000 and 2009. The GFI has estimated this illicit flow by examining the data on two aspects of the economy. In the first instance, it has compared foreign funds generated by external borrowings and foreign direct investments with the uses to which these funds could be put to — bridging the country’s current account deficit or adding to its foreign exchange reserves. According to the GFI, if the official data shows that the use of foreign direct investment is less than the funds generated, then there must be an illicit outflow.New Delhi: The Central Information Commission has directed the President's Secretariat to disclose details of correspondence among various ministries and the Delhi Police related to black money. The order came following an appeal by an RTI applicant who had sought to know the action taken on the letters written by him to Finance and External Affairs ministries among other public authorities in connection with the illegal wealth stashed abroad. During the hearing, the Appellant also submitted that he was mainly interested to get from the office of the President Secretariat the file notings concerning their correspondence with the Banking Division, Ministry of Finance, Ministry of External Affairs and the Delhi Police.
Give black money details: CIC to Prez Secretariat - India News - IBNLive
The probe into the alleged black money held by 18 Indians in Liechtenstein’s LGT bank list has hit a dead-end with the Central Board of Direct Taxes (CBDT) refusing to share critical details with the Enforcement Directorate (ED). ED officials who recently questioned nine of the 18 Indians in Mumbai and Kolkata said they are unable to confront the accused with “sufficient evidence” as the CBDT has refused to share the list of witnesses, sanction order related to the bank accounts in LGT and details about Manichi Trust. Those questioned included owners of Rosy Blue Pvt and Millenium Herbal Care, both in Mumbai, and the family of Mohan Dhupelia in Kolkata. All of them denied having accounts in LGT, now known as Fiduco Trenhand AG. The ED then approached a magistrate to obtain the prosecution sanction order filed by the Income Tax department but found that there “are no documents relied upon or assessment orders filed along with the complaint in the court”.
Black money probe hits roadblock - Indian Express
Breakthrough in black money case?-News-Exclusives-TIMESNOW.tv - Latest Breaking News, Big News Stories, News Videos
There seems to be no end to the Air India crisis as 22 overnight flights are cancelled. Agitating pilots say that they are ready to hold unconditional talks with the Govt in order to end the impasse Trouble brew in BJP's south bastion, Yeddyurappa's supporters threaten to quit Karnataka cabinet And even as the former K'taka CM is due to arrive in the capital, the BJP central leadership warns BS Yeddyurappa After the cover-up, state officials pass the buck. Video proof accessed by TIMES NOW clearly shows brazen violation of Wild Life Act The Lok Sabha and the Rajya Sabha to hold special sessions focussing on the sixty years journey of the Indian Parliament Four years after cricket ties were broken, a thaw; BCCI give go ahead for Pakistan teams participation in the Champions League A thrilling finish to the English premier League season is on the cards as Manchester City look to beat Manchester United and end their 44-year wait for a titleBaba RamDev
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