Cut Out Taking Those Shortcuts
This February, in a landmark decision, the US Supreme Court ruled that financial institutions like the World Bank’s International Finance Corporation (IFC) are not immune from the law of land, and can be held...
Bank Charges: Punishment for the Poor and Marginalised
Bad loans have worsened the banks’ balance sheet. Because of this, the money which banks need to put aside (called provisions) for bad loans has increased manifold, resulting in a decrease of money available...
Humanity Absent from World’s most Acclaimed Development Report
The World Development Report (WDR) is the World Bank’s development research and policy review report published annually. Started by IBRD since 1978, this report is intended to provide deep and extensive analysis on one...
Wake Up World Bank
Absolute immunity leads to impunity, and that foments lack of transparency and the reluctance to be held accountable Over three decades back, it looked quite impossible to ask the World Bank to review a...
What does the US Supreme Court’s Judgement mean for the People of Mundra?
What does the US Supreme Court’s Judgement on World Bank Group’s Immunity Mean for the people of Mundra, Gujarat, India and beyond? Dr Bharat Patel General Secretary, Machimar Adhikar Sangharsh Sangathan and one of...
Press Release Peoples Movements and CSOs Welcome the US Supreme Court’s Decision on the Absolute Immunity of the IFIs
For Immediate Release Peoples Movements and Civil Society Organisations Welcome the US Supreme Court’s Decision on the Absolute Immunity of the IFIs March 1, 2019, New Delhi:Peoples movements and civil society organisations from across...
MASS Welcomes The US Supreme Court’s Decision To End The Immunity Of The World Bank Group
This is the first time the US Supreme Court has addressed the scope of international organisations’ immunity February 28, 2019, Mundra, Gujarat: Machimar Adhikar Sangharsh Sangathan (MASS) and the affected communities by the Tata Mundra...
Press Release: Historic Supreme Court Win: WB Group Is Not Above The Law
For Immediate Release February 27, 2019 New Delhi: 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...
Between 2015-2018, India Paid Around Rs 400 Crore As Commitment Charges
Answering to a question in the parliament, Pon Radhakrishnan, the Minister of State in the Ministry of Finance, revealed that between the financial year 2015-2018, India paid Rs 396.775 crore as Commitment Charges to the...
What Are The Bank Charges And Whom Do They Affect?
To access the banking system through various platforms/processes, banks provide different kind of services to depositors. Bank charge is a fee that banks charge depositors to access these banking services. Recently, banks have started...
Q&As on Finance in the 2019 Budget Session of the Parliament
The budget session of the parliament witnessed the members asking government questions related to finance. Some of these questions were related to the NPAs, rationalisation of the overseas branches of the banks, charges levied...
कैसे बैंक हमसे हमारी बचत के पैसे लूट रहे हैं?
भारतीय बैंकिंग क्षेत्र एक लंबे और गंभीर संकट के दौर से गुजर रहा है। बुरे ऋण बढ़ रहे हैं और बैंक घटते मुनाफे के साथ कम-पूंजीकृत हो रहे हैं। नतीजतन, साख वृद्धि थम सी...
How Banks Are Stealing Our Savings?
The Indian banking sector is under a prolonged and severe crisis. Bad loans continue to grow and banks remain under-capitalized with profits in the red. As a result, credit growth remains muted, reinforcing the...
Public Money: Resistance Against Arbitrary Bank Charges
Banks act as financial intermediaries between depositors and borrowers. It is the public money, deposited in the form of term deposit (fixed deposits) and time deposit (saving accounts) which banks use for lending to...
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