The over exploitation of employees in Public Sector Banks should stop. Number of branches and employees should increase and their salary, allowances & pension should be at par with the Central Govt. They also deserve a 5-day week.
✍️
@alwaysfranc
These visuals are from
#Ratnagiri
refinery project site at Barsu-Solegaon, where land survey & drilling has begun. Since 2018, these women have actively led the anti-refinery protests. Apart from losing their land & identity, they fear that this project will render them powerless
Aruna Roy of
@mkssindia
and
#PerumalMurugan
releasing the first of the CFA primer series, "Wealth Inequality in India," at Kanyakumari's Democracy Development Diversity Dignity
#4D
Mela today!
When
#FCRA
was denied, we had 2 choices: start job-hunting & move on, or stick it out & find ways to keep the CFA rolling. Naturally, we chose the latter. Help us survive & thrive, by hiring us or recommending us to someone. We are
#OpenToWork
. Your support is our secret sauce!
In huge blow to transparency,
@moefcc
has stopped disclosing information related to impacts of projects on environment, forests, wildlife & coastal zones, to protect corporate interests. Disclosure of such information will only be 'considered' through RTI, by
@jayashreenandi
People preferred SBI because of the job security, regulated working hours, promotion opportunities & the security provided by trade unions. But now probationary officers are quitting. Work-life balance has become a serious issue.
Writes
@alwaysfranc
Joe Athialy, director of the Centre, told
@thewire_in
that the move is going to affect close to 40 employees of the Institute who work at the Centre and in other projects under the institute, some of which look at Dalit and Adivasi issues.
@SoumashreeS
"The total savings available in the world is about 7 trillion USD and there is plenty of money for everything including finance for just transition" Rathin Roy
@EmergingRoy
at
#EFCI2021
1/10
Look who visited our stall today!
Yogendra Yadav
@_YogendraYadav
Rajendra Ravi
@RootDemocrat
at the CFA stall at the
#WorldBookFair
. We are at Hall 5/473, New Hall, Pragati Maidan, New Delhi. Come join us tomorrow!
BIG UPDATE ON NICOBAR!
NGT puts qualified stay on Rs 72,000 crore Nicobar development project by
@aniidco
on petitions by
@ConsActionTrust
&
@chikikothari
. Experts have pointed out irreversible ecological & social harm the project is likely to cause.
A Million Cuts on Great Nicobar!
Amidst criticisms from tribal communities, environmentalists, civil society & political parties the axe will finally hit the ecologically & culturally most unique island of Great Nicobar for the ill advised mega project.
#GreatNicobarProject
📢If There Was Political Will, India’s Raging Cost of Living Crisis Could Be Eased
✍️by
@BanOrAnir
&
@Pranay_Raj10
A🧵on government's failure to tackle cost of living crisis📈
This is the 4th article in a series curated by
@cfa_ind
&
@thewire_in
1/7
Introducing the CFA Primer series!
The first primer 'Wealth Inequality in India' focuses on inequality in wealth and assets which needs to be understood through the lens of caste, gender, religion and region.
Releasing tomorrow!
Stay tuned for more!
Profit alone cannot be the motto of
#PublicSectorBanks
. Social banking is the need of the hour to reduce income inequality, already at its peak. India has to be a welfare state, and welfare needs public banks!
Writes
@alwaysfranc
#RandomReflections
𝗔𝗻𝗻𝗼𝘂𝗻𝗰𝗶𝗻𝗴 𝗦𝗺𝗶𝘁𝘂 𝗞𝗼𝘁𝗵𝗮𝗿𝗶 𝗙𝗲𝗹𝗹𝗼𝘄𝘀 – 2021
Centre for Financial Accountability is happy to announce recipients for the 4th Smitu Kothari Fellowship for young writers.
#SKF2021
🚨 IMPORTANT STORY! 🚨 How did Adani Group acquire a bankrupt real-estate firm for a tiny fraction of its debt? Why did the creditors, such as HDFC, ICICI, YES Bank agree to the sweet deal for Adani, in 2022?
@paranjoygt
@t_d_h_nair
& A Joshi 1/n
Human Rights Advocate & senior law expert Usha Ramanathan talks about how data architecture created by the state is being considered for a push for digital economy. The
#G20
is becoming a site to push similar digital infras to regions such as Africa & others
#G20BookLaunch
'Inequality amplifies malnutrition crisis in India' argues
@sinhadipa
in the third article of
#InequalitySeries
in
@DeccanHerald
curated in collaboration with the Centre for Financial Accountability.
Joshimath Sinking: A Himalayan Blunder?
#Joshimath
sinking has exposed cracks in our development model. Beyond rehabilitation & emergency measures, we need robust & effective Environmental & Social Safeguards for Development finance.
A thread
👇🏻
Over 12,000 environment clearances granted to projects in 2022, a 20 times increase since 2018. A 'development' driven 'clearance centric' approach leads to ecological & social disasters such as the one at
#Joshimath
. What we need is a safeguard & conservation centric approach.
Announcing Smitu Kothari Fellowship for Young Writers. The three-month-long Fellowship, entails writing comprehensive, well-researched, and investigative articles on development finance. For more info, visit:
NICOBAR UPDATE: With controversial Adani Group in the running for the Transhipment Project, the Township Plan awaits bidders. The 72000 crores mega infrastructure project puts the Shompen & Nicobari people, the ecology & marine life at risk. Time is running out.
#SaveNicobar
FinMin and its number game:
Ministry says gross NPA has reduced by Rs 2,79,627 Cr (march 2018 to dec 2020)
It also says Rs 5,83,473 Cr is written off in the same time.
This means
#NPA
had actually increased by Rs. 3,05,846 Cr in this time period, Not reduced as claimed!!
While the year began with the Joshimath disaster, the year is ending with the Teesta floods in Sikkim. Both testimonies of the misadventures of building mindless dams in the fragile Himalayas.
Thread👇🏻
If the government funds for all schemes are utilised correctly, it can make tremendous changes in the economy of the nation. Hence, we must demand an ‘Accountability Act’.
Writes
@alwaysfranc
📢Narendra Modi's Decade in Power Has Brought a Shrinking Welfare Landscape to India
✍️by
@asmi_26
&
@nancy_pathak
This is the third article of the series on state of Indian economy co-curated by CFA &
@thewire_in
🧵on shrinking welfare spending 1/6
NICOBAR PROJECT RUNS INTO MORE TROUBLE! Tribal Council had withdrawn its NOC to Nicobar Development Plan in November last year itself! Yet
@Andaman_Admin
claimed in January this year that council had happily agreed, reveals
@jayashreenandi
🔴 On Bank Nationalisation Day, an Online discussion on the moves of present government that are designed to dismantle public sector banking.
Panel:
Jayati Ghosh
@Jayati1609
Thomas Isaac
@drthomasisaac
Murali Sundararajan
19th JULY | TUESDAY | 5PM
@alwaysfranc
& Surabhi Kesar
📢 Average 30 Farmer Suicides Per Day in Modi Govt Years Points to a Systemic Apathy
✒
@BanOrAnir
,
@Pranay_Raj10
&
@nancy_pathak
🗃 (This article is 6th in a series on the state of Indian economy co-curated by CFA &
@thewire_in
) 1/5 🧵
Announcing 𝗦𝗺𝗶𝘁𝘂 𝗞𝗼𝘁𝗵𝗮𝗿𝗶 𝗙𝗲𝗹𝗹𝗼𝘄𝘀𝗵𝗶𝗽- 2021
The Centre for Financial Accountability invites applications for the Smitu Kothari Fellowship for Young Writers, 2021.
For more details and applying, click here:
#SmituKothariFellowship2021
In addition to creating a caste divide where none existed, along with distrust and distress among the OBC and General category workers, the Central government’s undisclosed motive behind the move is very suspect.
Writes
@prasannamohanty
More than 80 cr customers of PSBs will be directly affected if privatisation takes place. The min charges will go up, small credits will diminish, loans & services will be costly, & all Jan Dhan accounts will be thrown out of the system
Writes
@alwaysfranc
𝑨𝒏𝒏𝒐𝒖𝒏𝒄𝒊𝒏𝒈 𝑺𝒎𝒊𝒕𝒖 𝑲𝒐𝒕𝒉𝒂𝒓𝒊 𝑭𝒆𝒍𝒍𝒐𝒘𝒔 – 2020
Centre for Financial Accountability is happy to announce recipients for the 3rd Smitu Kothari Fellowship for young writers.
@ayesha_minhaz
@nihargokhale
#SKF2020
#FellowshipAlert
We invite applications for the 5th
#SmituKothariFellowship
The fellowship is open to all Indian citizens below 40 years, writing in all Indian languages.
For themes and more details, visit:
Apply soon!
Release of the State of Finance in India Report 2021-22
By Paranjoy Guha Thakurta
@paranjoygt
, CP Chandrasekhar, Shalmali Guttal
@commonmolly
, Joe Athialy
@joeathialy
& Arpita Das
10 am | 11th November
Institute of Social Sciences, New Delhi
If the economy, policy-making, administration, defence and the judiciary are in the hands of a few corporates, inequality will only increase and democracy cannot thrive.
Writes Thomas Franco in
#RandomReflections
this week.
GREAT NICOBAR PROJECT: Government continues to ignore the many reports and interventions by academics & experts raising the financial unviability, environmental & social adverse impacts, & flawed clearances granted to the mega project.
@jawharsircar
More than 50% women are self-employed, of whom half are employed in unpaid family work, or working in family farms. Most of these employments are distress driven, and does not empower women, says, Dr. Dipa Sinha,
@sinhadipa
, AUD at
#COFI2023
👇
The State of Finance in India Report edited by
@Jayati1609
& CP Chandrasekhar brings to you a bird's eye view of Indian finance. Pick your copy from
@cfa_ind
stall 473/Hall 5 as stocks are fast running out.
#WorldBookFair2023
Another distressed coal project heading to Adani's kitty, while the banks taking a hair (whatever is left of it!) cut of 56%! IBC process increasingly becoming one benefitting corporations, leaving banks high & dry.
Budget 2024: How the Modi Government Has Neglected Social Security Pensions Once Again
🖋️by
@asmi_26
in
@thewire_in
"There is an urgent need to review the National Social Assistance Programme for it to be effective and meaningful."
A 🧵 1/n
Read👇
📢 Conference on Finance & Economy in India
📌Join
#COFI2023
to look closely into claims of economic recovery!
🗓️ 29-30 November
🕰️10 am - 6 pm
📍Jawahar Bhawan, Delhi
🔗 Registration Link: (Required)
- CFA,
@focussouth
& Economic Research Foundation
Modi Government Wrecking Public Sector Banks and the Indian Economy by pushing digital economy, and by not Implementing the recommendations of the Parliament Standing Committee on NPAs: Joint Statement signed by 93 CSOs across India.
Plastics fuelling infertility - of people, animals, air, water, soil, and everyday lives!
Plastics Fuels Infertility is a campaign by
@cfa_ind
to put a lens on plastics-related policies and ground realities.
#plasticpollution
#PlasticsTreaty
👇
Even as
#PublicSectorBanks
lent about 37% of their total credit to the industry sector, the corporate and industry loans accounted for over 73% of the total
#NPAs
of the banking sector in 2016-17, as per an analysis of the RBI data by
@IndianExpress
.
Instead of raising the bogey of fiscal deficit, governments should instead raise tax on the super rich to raise funds for healthcare and other welfare measures, argue
@BanOrAnir
&
@amitanshujnu
of
@cfa_ind
in
@scroll_in
Capital, Poverty & Inequality: Understanding Wealth Accumulation
An Online Lecture Series
12 Dec | Historical Overview of Wealth Inequality by Prof. Prabhat Patnaik
19 Dec | Layers of Inequality by
@sitara1
21 Dec | Combating Wealth Inequality by
@BanOrAnir
👇
Data by the govt shows that public sector banks continue to bear the lion's share of loan write-offs. It is public money which is being written-off. Recent data shows only a paltry 13% of written off amount is recovered by banks in last 5 years.
@officialAIBOC
@SUBBARAYANK3
To destroy a transport undertaking, privatise its routes and burden it with excessive aircrafts thereby creating unrepayable debt. This is exactly what was done with Air India (and Indian Airlines).
Writes Ashok Rao
#AirIndia
In a major push towards
#privatisation
of Public Sector Banks, the Union Govt is removing the 10% shareholding cap for individuals & private equity firms. Amendment to banking laws is likely to be introduced in the monsoon session.
#PublicSectorBanks
Demonetisation, GST & lockdown: How the Modi Govt has wrecked India’s small businesses
✍️Priya Dharshini,
@kajla_ashish
& Anirban Bhattacharya
9th article in the series CFA has put together with
@scroll_in
looking back at the 5 years of demonetisation
RE generation relies on the same colonial model of extraction, in which fossil fuels are extracted. We have environmental legislations but they have been torn and shorn to bits, says, Manshi Asher,
@ManshiAsher
, at
#SOFI2023
release.
#COFI2023
Indian banks do not have any environmental or social safeguard measures, like public hearing, impact assessment & grievance redressal points out climate activist Krishnakant, Paryavaran Sanrakshan Samiti, Gujarat. Those who fund high impact projects must be accountable for them.
Webinar: Re-Imagining Education for Equitable Democratic & Inclusive Society
July 7, 11- 1 pm
Speakers:
-Prof. R. Govinda
-Aishe Ghosh
@aishe_ghosh
@JNUSUofficial
-Ambarish Rai
@amb1857
Moderator: Annie Namala
@AnnieNamala
For more info:
A tribute to farmers who are protesting was shared by
@drvandanashiva
during the Inaugural Session of
#EFCI2020
Engage in more wholesome conversations regarding
#EnergyTransition
in India-learning from global experiences today-from 3 PM to 6 PM:
Zoom ID: 964 1278 3292
Pw: 333444
A report titled "Where is My Interest Rate?" was released, published jointly by AIBOC & CFA. The report gives a critical overview of landscape of banking in India and the tectonic shifts that have been fundamentally altering its character in favour of only those at the top.
PRESS RELEASE
The 13th Triennial General Council Meeting of All India Bank Officers Confederation (AIBOC) in Guwahati
Com P M Balachandra and Com Rupam Roy Re-elected as President and General Secretary of the Confederation Respectively.
The All India Bank Officers’
The US Supreme Court will today hear arguments on the Budha Ismail Jam v.
@IFC_org
, a landmark case that will consider whether international organisations, like the World Bank, are immune from the lawsuits in U.S. courts.
An evolving thread on this.
#WorldBankImmunity
#TataMundra
With her background in law,
@arpithakodiveri
shared important points through her talk at
#EFCI2021
, she spoke about the complicit role law has played in pushing us in the direction of greenwashing & how do we manoeuvre back into the direction of accountability & enforcement. 1/n
“If you litigate, you are against the govt interest. There have been several cases of changing laws to benefit one entity.” Says Ritwick Dutta,
@lifeindia2016
at
#COFI2023
"The story of financing is the fossil fuel millionaires of 2010s being climate billionaires of 2030. Those who are able to mobilise finance, make money, invest in areas where the pathways do not affect existing production, consumption patterns are those who get finance..." 7/10
Meet the recipients of the Smitu Kothari Fellowship 2023!
We are happy to announce the recipients of the 6th
#SmituKothariFellowship
for young writers!
Click to know what the fellows this year are writing about!
#SKF2023
Sharing our 'Primer on Wealth Inequality' & Handbook on 'Environmental & Social Safeguards for Financial Institutions' with ex Finance Minister of Kerala
@drthomasisaac
at
#Kanyakumari
. Change happens when people & policymakers work with synergy for public good.
@priyasushila1
Due to air pollution, WtE plants do not have takers in the global West. From a peak of about 190 incinerators in the 1990s, the US has just about 70 incinerators today – mainly because of their environmental, health and economic impacts.
#CannotBreatheInDelhi
#NoBurn
📚 Join us for Book Discussion on
THE GREAT NICOBAR BETRAYAL
by Pankaj Sekhsaria
🗓️ 28 June | 4-6 pm
📍Jawahar Bhawan, Delhi
🎙️Discussants:
Prof Nandini Sundar, DU
Jacob Koshy
@the_hindu
Amitanshu Verma
@cfa_ind
Introduced by Nancy Pathak
Moderated by Anirban Bhattacharya
By allowing wilful defaulters to settle their loans under compromise,
#RBI
is essentially condoning their wrongful actions & placing the burden of their misdeeds on ordinary citizens & hardworking bank employees.
@aiboc_in
#AIBEA
"All across social sector, a very similar tactic has been used which is bundling whole lot of schemes together, to try and suggest in a wicked manner that budgetary allocations are much higher than they actually are", Dr. Vandana Prasad, Jan Swasthya Abhiyan
#BudgetAnalysis2021
📢OPEN LECTURE
by Anirban Bhattacharya & Nancy Pathak on
'Inequality & K-shaped Recovery in the Context of Rising Prices & Plummeting Social Expenditure'
🏫Date: 18th October, 2023
Time: 2:40 PM
Venue: T3 Faculty Conference Room, at Jindal School of Government & Public Policy
India is heading to another spell of power shortages & the Govt is pushing states to import coal. As coal prices go up internationally, Adani wins a major coal import contract. We join the dots for a complete picture.
#TheMoneyTrail
@jimmythescribe
🧮 Social Security Budget: A Forgotten Footnote
✍
@asmi_26
&
@nancy_pathak
for
@thewire_in
📉The significant reduction in important welfare programmes made the Union Budget 2024-25 devoid of commitment to address most pressing needs of the masses.
📢𝟑𝐫𝐝 𝐄𝐧𝐞𝐫𝐠𝐲 𝐅𝐢𝐧𝐚𝐧𝐜𝐞 𝐂𝐨𝐧𝐟𝐞𝐫𝐞𝐧𝐜𝐞 𝐈𝐧𝐝𝐢𝐚
How Clean is Green Financing?
Understanding the National and International Landscape, Investors & its Efficacy
December 14-17, 2021
Registration:
🔗
#EFCI2021
@cfa_ind
has completed 5 years today. A baby step for any organization, but a significant one for us, blending research & action. Seeking accountability & transparency from financial institutions have been the bedrock of our work.
RBI data shows scheduled commercial banks wrote off Rs. 46,542 crores for the financial year 2021-22 alone!
This International Day of Banks, let us demand for more accountability for public money.
#InternationalDayOfBanks
#Accountability
"What is needed is to change patterns of consumption and production that are not addressed by COP. Net-zero could be attained by halving the developed countries' consumption, but this is hardly discussed anymore."
@EmergingRoy
#EFCI2021
3/10
"The fact is that there is plenty of finance for green hydrogen and electric cars but little finance for waste management, built environments such as housing, green agriculture which help people change patterns of production and consumption."
@EmergingRoy
#EFCI2021
5/10
Indian banks need to adopt Environmental and Social Safeguard (ESG) mechanisms, & commit to responsible lending for development that puts ecology & people before profits, write
@Priyasushila
&
@amitanshujnu
of
@cfa_ind
@DeccanHerald
📚 Book Discussion Tomorrow!!
THE GREAT NICOBAR BETRAYAL by Pankaj Sekhsaria
🗓️ 28 June | 4-6 pm
📍Jawahar Bhawan, Delhi
🎙️Discussants:
Prof Nandini Sundar, DU
Jacob Koshy
@the_hindu
Amitanshu Verma
@cfa_ind
Introduced by Nancy Pathak
Moderated by Anirban Bhattacharya
SBI
@TheOfficialSBI
lied in their responses to RTI queries regarding Electoral Bonds. Has it become a norm now to misuse the section 8(1)(d) of RTI Act to deny the information sought to save the bigger players?
#RTI
#ElectoralBonds
@nit_set
@AnjaliB_
📢"Teesta disaster & the need for accountability in development finance"
✍️
@amitanshujnu
&
@nancy_pathak
of CFA in
@DeccanHerald
Banks & FIs financing large projects must develop accountability mechanisms to address environmental & social impacts. 1/2
As the saga of
#Joshimath
disaster unfolds, as a consequence of unheeded warnings, & 'development' without
#safeguards
, we are laying foundations for similar fate for the pristine & fragile
#Nicobar
with big infra projects in pipeline
@frontline_india
The top 1% of the rich must be taxed. Support our campaign to build a more equal & just society! Follow
#TaxTheTop
& help us spread awareness about this cause with your donation. Let's take a step towards equality.
Contribute to the campaign!!
#TaxTheTop
#TaxTheRich
#inequality
The authors of the State of Finance in India Report 2023, explore the myriad ways in which finance and money touch and shape our lives and analyse it from a people's perspective.
#SOFI2023
Meet the authors here 👇
The cancellation of CFA's FCRA licence “has nothing to do with technicalities. It [the government] is weaponising FCRA against organisations that are critical of its actions,” said
@cfa_ind
, executive director of CFA
@newslaundry
@shivnarayan01
The wait is over! Presenting our primer ‘Wealth Inequality in India’ by Ishan Anand and
@anjana_thampi
. Learn more about the evolution of wealth inequality in India through the lens of caste, gender, religion & region.
Read and download it here:
If the Global North is serious about ending plastic pollution, they must stop the millions of tons of plastic waste exports to the Global South!
Read the crucial Press Release by
@brkfreeplastic
here:
'Banks Should Have Mechanisms To Avoid Investing in Projects Causing Environmental, Climate & Social Harm'
Activists, researchers, CSOs met in Delhi on Dec 1 to discuss & push for environmental, social & climate safeguards in Indian FIs.
#PressRelease
🧵
What do India's leading economists say on its growing inequality?
Find interventions by
@Jayati1609
Prabhat Patnaik
Arun Kumar
@ishanjsr
@anjana_thampi
& many more.
in "Tipping the Scales". Get your copy from
Hall no. 5
Stall C-26
Pragati Maidan, Delhi
#WorldBookFair2024
Listen to Nitin Sethi
@nit_set
from the
@reporters_co
tomorrow at
#EFCI2021
as he presents a critique of India's commitment at COP26 and gives us a reality check.
📌December 14, 3-5 PM
Zoom Meeting ID: 981 0514 5122
Passcode: EFCI
More details:
#We20
में व्यवधान डालने का मतलब है कि वहां उठाये जा रहे मुद्दे काफी गंभीर हैं। एक तरफ भारत खुद को ‘लोकतंत्र की जननी' के रूप में प्रस्तुत कर रहा है, वहीँ दूसरी और
#G20
की तैयारियों के लिए लोगों के घरों को उजाड़ा जा रहा है।
पेश है
#HumaraPaisaHumaraHisab