LOKPAL COMPARISONS

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ACCOUNTABILTY OF LOK PAL

Jan Lokpal: Any Citizen can go and complaint to Supreme Court to remove a Lokpal if the Lokpal is not found to be accountable in his/her actions. Government Lokpal: Only Government has the power to remove a Lokpal.
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So according to governments draft,

Corruption allegations against Lokpal Members

Jan Lokpal: Complaints of corruption against Lokpal members will be heard by an independent authority. Government Lokpal: Lokpal itself will hear complaints of corruption against its members! Which is more accountable? Lokpal hearing complaints against its own 4/23/12

Probe corruption allegations against MPs in Parliament

Jan Lokpal: Lokpal will have the power to probe into allegations of corruption by Members in Parliament like MPs taking bribe to vote! (Remember the Cash for Votes Scandal? ) Government Lokpal: Lokpal will not have any right to 4/23/12 probe into allegations of

Jan Lokpal:

Complaints against Government Officers, Public Servants

Lokpal can act on complaints against ANY government officer. Government Lokpal: Lokpal can act on complaints against only Group A level government officers. There are around 80 lakh state government officials and 40 lakh 4/23/12

Action against government officers

Jan Lokpal: If a government officer delays the work of a citizen beyond scheduled time frame then he will be deemed corrupt by Lokpal and penalized for that. Government Lokpal: There is no penalization of government officers who do not do their duties. NOTE: The Government had earlier agreed to the proposal in Jan Lokpal on this issue. 4/23/12 But this again is missing from the

Corruption allegation against Judiciary

Jan Lokpal: Lokpal will have the authority to investigate allegations of corruption against judges. Government Lokpal: Lokpal will NOT have the authority to investigate allegations of corruption against judges. NOTE: Government wants judiciary 4/23/12

Corruption allegations against Prime Minister

Jan Lokpal: Lokpal will have the authority to investigate allegations of corruption against the Prime Minister. Government Lokpal: Lokpal will NOT have the authority to investigate allegations of corruption against the Prime Minister. NOTE: Government wants CBI to 4/23/12

Anti Corruption Branch of CBI

Jan Lokpal: The Anti Corruption Branch of CBI will be merged with Lokpal to give it more independence. Government Lokpal: The Anti Corruption Branch of CBI will continue to remain with CBI, which means direct government control over it, 4/23/12 because CBI is controlled by

Dismissal of Corrupt Public Servant

Jan Lokpal: Lokpal will have the power to dismiss a corrupt public servant from job. Government Lokpal: Lokpal will have no power to dismiss a corrupt public servant. The concerned minister will decide whether to dismiss a corrupt public 4/23/12 servant or not.

Protection against false complaints Jan Lokpal:

Lokpal will impose fine to those who make false complaints or ill motivated complaints. Lokpal will decide whether a complaint is false or not. Government Lokpal: Lokpal will send those who make false complaints to jail for a period of two to five years! The accused can also go to court against the complainant, and in this case, the legal expenses of the accused will be borne by the government, where as the complainant has to pay for the legal expenses from his own pocket. This one clause in the governments draft is enough to ensure that nobody will dare to go and complain to Lokpal. If the corrupt who are also generally rich, are able to mute all evidences against them, then the person who complained will have to go to jail, do trips to courts, bear 4/23/12

Selection of the Lokpal Members Jan Lokpal:

An independent search committee which consists of retired constitutional authorities (like judges, eminent IAS officers etc) will prepare the first list of eligible candidates. Then an independent selection committee comprising of two politicians, four judges and two retired constitutional authorities will do the selection. So there is no scope for government interference in the selection process of Lokpal members here. Government Lokpal: A Panel of 10 members, 6 of whom are politicians, 5 of whom are from the ruling alliance/ruling party will select the Lokpal members. Even the search committee which searches for eligible lokpal members will be selected by the above mentioned selection committee. 5 members from ruling alliance and totally 6 politicians in a group of 4/23/12 10 will ensure that government will be able to appoint its

Corruption by Business Entities

Jan Lokpal: Lokpal will give permission to tap phones of people suspected to be involved in corruption. Government Lokpal: Home Secretary will give permission to tap phones of people suspected to be involved in corruption! What if the permission sought is 4/23/12

Jan Lokpal:

Corruption by Business Entities

If Lokpal finds that business entities are involved in corruption, then Lokpal will have the right to ban such companies from taking part in future government contracts and to black list them. Government Lokpal:
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Protection to complainants, whistle blowers

Jan Lokpal: Lokpal will provide adequate protection and security to complainants and whistle blowers. Government Lokpal: No mention about any protection to those who complaint about cases of corruption.

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Conclusion

In summary, looking at the governments version of the Lokpal bill, doesnt it look like that the government wants to simply pass a bill for the namesake of it and wash its hands off from the entire issue? After 45 years of waiting, the government simply wants to create an illusion that it has passed an anti-corruption law. Do we really need another dummy institution at the tax payers expense? Just look at the governments draft once again and you will wonder, who actually comes UNDER the jurisdiction of Lokpal according to the governments lokpal draft. No Prime Minister, no MPs, no judiciary, no state level Lokayuktas, no 4/23/12 government officers other than Group A

Rajinder Sachar, former chief justice of the Delhi high court has said that the Lokpal Bill proposed by the Government of India is

shamefully toothless and meant just to give a false reassurance to the people that the government is serious in its fight against corruption. 4/23/12

Read on at..

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http://www.hitxp. com/articles/politi cs/differencescomparison-annajan-lokpalgovernment-bill/

What is the corporates politician connect?

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Corporates and Lokpal views

"Lokpal should cover corruption in higher bureaucracy and among political executives. There may also be a provision, as in UK bribery law, where a bribe giver is punished. We are also not against bringing corporates under the purview of Lokpal,'' : Central Vigilance Commissioner Pradeep Kumar
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Sajjan Jindal, Vice-Chairman of JSW Group maintains that too much of policing will kill entrepreneurship: "Business should be allowed to function in a liberated environment. Lokpal looks at corruption in public life. It should not cover business as it will stifle decision making''
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Ergo Chairman and business historian Gita Piramal : "First of all, the bill is not an answer to corruption. In terms of corporates there are enough laws in the system, what we lack is the political will to enforce them. Corporate-centric Lokpal is 4/23/12 counter-intuitive. You need to

Maruti Suzuki Chairman RC Bhargava: "Companies are not government institutions and function independently. Hence, the relevance of Lokpal bill for companies needs to be seen."

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BDO Consulting Chairman Shailesh Haribhakti: "corporates are under the scrutiny of the Corporate Affairs Ministry and regulators like Sebi. So long as there is a single authority abjudicating, it does not matter. Multiple agencies will certainly create confusion."
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2G

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What is 2G?

In the world of cell

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The 2G Scam- what is it?

2G Spectrum allocation scam of Rs. 170,000 Cr. (Rs. 1.7 trillion) in the Indian Telecom industry is considered as one of the largest scam in recent times.

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The background of the scam At the time of scam, the Indian telecom

industry was growing exponentially. The subscriber base had grown from 10 million subscribers in 2002 to 250 million in 2007, due to low tariffs and falling prices of handset. The wireless subscriber base had grown from 52.22 million in 2005 to 165.11 million in 2007 which further grew to 391.76 million in 2009.

The growing demand of the wireless connections caught the attention of the companies who wanted to enter telecom sector. The companies who were allotted the 2G licenses did not have any experience in the telecom sector or the technology and thus sold their stake to foreign telecom companies at 4/23/12 high prices. The 2G spectrum was allotted in

The 2G Scam- what is it?

In 2007-08, when the government issued 122 new telecom licenses, several rules were violated and bribes were paid to favour certain firms. Several licenses were issued to firms with no prior experience in the telecom sector or were ineligible or had suppressed relevant facts
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The licenses were allotted on the basis of "First come First serve method" rather than through the process of auction as stipulated under the national telecom policy 1999. The ministry had also reduced the cut off time form October 1, 2007, to September 25, 2007 without consulting and informing other related ministries, even though when it is mandatory to have approval from the cabinet committee (economic affairs) in such important decisions. The Telecom Ministry informed those companies whom they wanted to allot license about the cut off date in advance 4/23/12

The telecom ministry's process of issuing licenses lacked transparency and was undertaken in an arbitrary, unfair and inequitable manner Police accused Andimuthu Raja, the then-telecom minister, of having taken bribes from two firms which are now the local joint venture partners of Telenor and Etisalat . The scandal has also touched Raja's regional DMK party, a leading ally of 4/23/12

What was the fallout?

The report sparked political outrage and the main opposition Bharatiya Janata Party all-but-shut an entire session of parliament demanding a special parliamentary probe. Raja was forced to resign and was arrested over the report. The telecom ministry is considering whether to cancel some 85 licences which the audit report says were issued to firms which were ineligible 4/23/12 for them.

What does this mean for investment in India?

While corruption itself has been largely shrugged off by investors, the regulatory uncertainty from the review of past government decisions is a source of concern to investors. If the telecom ministry does decide to cancel some or all of the 85 licenses it is scrutinizing, 4/23/12

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CREDIT RATINGS

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WHAT IS CREDIT RATING?

A credit rating evaluates the credit worthiness of an issuer of specific types of debt, specifically, debt issued by a business enterprise such as a corporate , bank or a government. It is an evaluation made by a credit rating agency of the debt issuers likelihood of default. Credit ratings are determined by credit ratings 4/23/12

Ratings for banks

A: "superior intrinsic financial strength B: "strong intrinsic financial strength C: "adequate intrinsic financial strength D::"modest intrinsic financial strength, potentially requiring some outside support at times
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E: "very modest intrinsic financial

On 04 Oct 2011, Moody's lowered SBI's rating to D+ from C- on account of weaker capital and poor asset quality. SBI's gross bad loans was at 3.28%, highest among PSU banks, while its core capital (Tier 4/23/12 I) fell below 8% as on

Moody's Corporation performs international financial research and analysis on commercial and government entities. The company also ranks the credit-worthiness of borrowers using a standardized ratings scale. It has a 40% share of the world market, as does its main rival, Standard and Poors and Fitch Ratings
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Tier 1 Capital

The theoretical reason for holding capital is that it should provide protection against unexpected losses. Tier 1 capital is the core measure of a bank's financial strength from a regulator's point of view It is composed of core capital, which consists primarily of stocks and reserves of earnings retained by a 4/23/12 corporate bank.

What Does Credit Worthiness Mean?

An assessment of the likelihood that a borrower will default on their debt obligations. It is based upon factors, such as their history of repayment and their credit score. Lending institutions also consider the availability of assets and extent of liabilities to determine the probability of default.
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