US bans generic form of opioid treatment drug Suboxone
"The UK based pharma company Indivior PLC had got the restraining orders against Dr Reddy's just a day after the US FDA granted the final approval last month."
The World Transformed and No One in America Noticed
"The accession of both India and Pakistan to the SCO is also a stunning repudiation of the United States."
India to Intensify Scrutiny of Citizens’ Social Media, Emails
"India’s government is looking for a company to analyze social media posts to help boost nationalism and neutralize any 'media blitzkrieg by India’s adversaries.'"
Making Heart Surgery Accessible to the Poor, by Embracing Mass Production
"Instead of looking to government to fix our health care system, we should be looking to innovators like Dr. Devi Shetty."
India bank run underway after $2B scam at state-run bank prompts bailout bill
"Indians are concerned that a proposed bill, which gives regulators the option to use public deposits to bail out a bank that goes bust, is pushing individuals to hoard cash. The government has repeatedly issued statements to assure the public that their money would be safe. These concerns are heightened by news that emerged in February of a $2 billion fraud at state-run Punjab National Bank, where a jeweler allegedly colluded with a bank employee to siphon off money before leaving the country."
Indian banks freeze major cryptocurrency exchange accounts
"Several major Indian banks have suspended the accounts of top Bitcoin exchanges in India. State Bank of India, Axis Bank, HDFC Bank, ICICI Bank, and Yes Bank cited suspicious payments in their decisions. The move comes after tax authorities sent notices to cryptocurrency investors warning that they must pay capital gains on their income from the virtual currency. For the few accounts still open, the banks have asked for more collateral, and have capped cash withdrawals."
India Central Bank Governor Warned Against Cash Ban Before Resigning
"Raghuram Rajan left the central bank last September after unnerving political leaders with his outspoken nature. Several months later, Modi blindsided the nation by scrapping 86 percent of currency in circulation, saying the move was essential to unearth unaccounted wealth and fight graft. Since then, speculation has raged over who thought up the policy, with the debate getting more divisive last week as a slew of data showed demonetization contributed to a growth slump without meeting its targets."
India Demonetization Loses Credibility; 99% of Banned Notes Returned
"Indians have deposited nearly all the currency bills voided by Prime Minister Narendra Modi, denting the central bank’s profit and dealing a blow to his drive to unearth unaccounted wealth. The cash ban prompted the central bank to print new currency, reducing its profit and cutting annual dividend payout to the government by half."
Australia Joins The War On Cash While Venezuela Backtracks Cash Ban
Developed-world governments are joining their developing-world counterparts in governing by surprise and openly placing their citizens' wealth at risk through anti-cash messaging and actions. Continue reading →
India Bank Adviser Proposes Regular, ‘Surprise’ Cash Bans
If these academics have their way, government-backed paper money will further approach its intrinsic value - zero. They hope that this will drive cash-based savings into bank deposits, which generate fee revenue and a source of leverage for the banks while at the same time supplying governments with taxes and police oversight of citizens' financial lives. However, governments attempting to eliminate cash usage risk destroying trust in the 'coin of the realm', leading to cash-based savings being moved into assets such as real estate, precious metals, and cryptocurrencies instead of bank deposits. Continue reading →