“India is becoming a nation of defaulters! Why do defaulters get to buy new companies and new deals?” policy analyst Mohan Guruswamy asked at the public meeting titled ‘Crisis in the Banking Sector: Who Stole? Who Pays?’.

Crisis in the Banking Sector Who stole? Who Pays?

“India is becoming a nation of defaulters! Why do defaulters get to buy new companies and new deals?” policy analyst Mohan Guruswamy asks.

Posted by Media Collective on Monday, February 26, 2018

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In a historic 7-1 decision, the U.S. Supreme Court decided in Jam v. IFC that international organizations like the International Finance Corporation of the World Bank Group do not enjoy absolute immunity.

The Court’s decision marks a defining moment for the IFC – the arm of the World Bank Group that lends to the private sector. For years, the IFC has operated as if it were “above the law,” at times pursuing reckless lending projects that inflicted serious human rights abuses on local communities, and then leaving the communities to fend for themselves.

This will be the first time the US Supreme Court has addressed the scope of international organisations’ immunity.

Visit here to know all about the case.