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Much Ado About Poverty

The much-awaited Panagariya panel report on poverty is yet to be finalised. But Niti Aayog created some confusion with an occasional paper called ‘Eliminating Poverty: Creating Jobs and Strengthening Social Programmes’, which raised concerns by not taking a clear stance on the debate on the poverty line, suggesting that states be allowed to define and gram panchayats be given the task of identifying the poorest families. For the rest, it suggests employment generation and other targeted socio­-economic development schemes to lift people out of poverty. Hopefully, the delayed report will suggest a more robust plan.

The Waiting Game

IDBI Bank continues to simmer. After protesting the government’s plans to dilute its stake in the bank to below 51 per cent, the staff have reported for work at their new postings. While transfers are normal in April and May, there is a feeling among staffers that postings to the northeast and far flung areas are a punishment for the strike on March 28. Unions fear that instead of disinvestment, the government will opt for strategic investment to dilute its stake from 69 per cent.

Setback For NSE

U.K. Sinha-led SEBI has dashed all hopes of NSE self-listing. SEBI has clearly stated that self-listing is not allowed under regulations and NSE will have to list in another exchange. NSE has been pushing hard for self-listing or direct supervision of SEBI in case of a cross-listing in another exchange. At the mom­ent both have been turned down by SEBI. NSE vice chairman Ravi Narain had said recently that securing approval for self-listing was a key issue for NSE and not getting it will be highly inappropriate and unfair for investors. But SEBI has stated that present rules do not allow self-listing and is pushing for cross-listing of the two main bourses in India, BSE and NSE.

How to un-send that drunk SMS

A new app called Privates is claiming it can recall messages if you’ve already pressed send. It only works before the recipient opens the message, so you have to act pretty quickly.

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