Outgoing RBI governor Raghuram Rajan’s recent speech heralding better days for the economy has been received with incredulity and hope by India Inc. Rajan had said that risk aversion on lending by public sector bankers will end soon. Given that the RBI’s strong policy on dubious loans has led to a state of suspended animation, a corporate honcho was overheard wondering if Rajan was referring to a more lax lending regime, thanks to his term ending in early September. Rajan’s speech provides some answers, perhaps. “We will be living in interesting times. Whether it is a blessing or a curse is up to us. I am confident that we will rise to the occasion.”
After two unfavourable awards in the Antrix-Devas arbitration case, the government is leaving no chance to attack Devas. After a string of operations through the income tax department and the registrar of companies, the fresh salvo has come through the FEMA cases against Devas. Also, the CBI is learnt to have initiated a case against former ISRO chief G. Madhavan Nair, who sealed the Antrix-Devas deal, to put pressure on Devas and its investors. Last heard, another former ISRO head, K. Radhakrishnan (the deal was cancelled in his tenure) is writing his tell-all memoirs. Whose neck will be on the block next?
Researchers at University College, London, have developed a software that can copy the minute details of anyone’s handwriting. Yes, even bad handwriting.