The Week That Was:

From: Vartaa Editorial Team on Nov 22, 2015

Rains in South India

It was a week in which South India received a serious backlash from the winter monsoon. Heavy rains lashed Tamil Nadu and other southern states with the city of Chennai experiencing unusual flooding. The death toll, sadly, has now reached 120 and the Met department is forecasting more rains in store. The government had to deploy the Army and the Air Force to assist with relief efforts.

Combating Global Terror

Global terror remained the focus of news this week as well. Home Minister Rajnath Singh traveled to Beijing and discussed co-operation between India and China in confronting terror. The French Foreign Minister was in India this past week as well and held talks on combating terrorism with his counterpart Sushma Swaraj. Meanwhile, in Mali, as extremists stormed a luxury hotel, it was confirmed that 20 Indians amongst the hostages were currently safe and that the Indian embassy was monitoring the situation.

Standard Chartered Woes

In business news, Standard Chartered Bank's India operations are coming under sever stress due to large non-performing assets. The company plans to reduce its exposure to India as more than $5bn of its India portfolio turns into an NPA.

Fin Tech India

Payment gateway RuPay is playing a major role in the government's financial inclusion drive. Competing with the likes of MasterCard and Visa, the Indian innovation is looking to stay competitive while bringing benefits of electronic payments to those who are underbanked currently.

Opinions you must read:

  • The French terror attacks have once led security experts to question the fragmented nature of response by governments. Read Raghu Raman's analysis here
  • J&K CM Mufti Mohammad Sayeed has given feelers recently that he would be passing on his mantle to his daughter Mehbooba Mufti. What are the challenges faces Mehbooba as she gets ready to become J&K's first woman CM? Read an excellent long read here.
  • While many elements have been agitating for more cow protection and ban against slaughter in the last few months, what are the economic implications of stopping slaughter and beef exports. Read an insightful piece here.