Some stuff I am reading today morning:
UPA Govt takes ordinance route to Food Security (BS)
IT investors ignoring risks at their peril (Mint)
Not without my Zola (MumbaiMirror)
Why India’s food bill is bad for agriculture (WSJ)
Changing nature at Bajaj Auto’s plants (BL)
If it is too good to be true (OneMint)
Terrible lock in product (Subramoney)
Tehran Stock Index at historic high (Climateer)
My edge and the crossroads (TRB)
A very good idea-somebody ought to try it (BillBonner)
This post is in continuation of my This is India ! Series (see here)
According to newsreports,
The Income Tax Department and National Investigation Agency personnel on Monday night seized cash worth Rs 2,500 crore and gold from four trucks here and detained 47 people. The trucks were apprehended from outside Mumbai Central railway station. According to reports, the cash was to be transported to Ahmedabad on Gujarat Mail. In an interesting twist in the case, it has been revealed that an Inspector stationed at South Mumbai’s VP Road and his colleagues had escorted the trucks to station. The joint operation by more than 100 officers was carried out at around 9 pm, when the four trucks reached outside the Mumbai Central station to unload the suitcases. Those detained with around 150 suitcases of cash are being grilled.
So you have 1/2 Billion $ in cash seized outside a railway station !This is more than the market cap of 90% of the companies listed on India’s equity markets.
This is India !