Corruption News

Louis Berger group`s former vice president Satyakam Mohanty was arrested here on Monday by the Crime Branch for paying off Goa politicians and officials in 2010 while he was serving as the head of the international consultancy firm in India.

China has recovered 38.7 billion yuan ($6.2 billion) in losses from graft, state media reported, as the leadership pursues a campaign against pervasive corruption.

While corruption is on the retreat in India, the country needs to act on patent regulations and rule of law, two top US Congressmen said today.

Seventy-two percent of the people feel satisfied with the performance of Prime Minister Narendra Modi, according to a survey on one year of his government, but the majority also sees no let-up in graft, and more seem opposed to than supportive of his controversial land acquisition bill.

Deutsche Bank has agreed to pay a $2.5-billion fine to settle US and British accusations that more than 20 employees engaged in a "widespread effort" to rig benchmark interest rates for profit between 2005 and 2009, officials said on Thursday.

EU governments and institutions must adopt robust rules for powerful lobbies seeking to shape laws and policy or face the risk of corruption, anti-graft watchdog Transparency International warned Wednesday.

Stressing on the need to differentiate between "errors and corruption" in bureaucratic decision making, Finance Minister Arun Jatiley on Monday said the government is considering amending the Prevention of Corruption Act.

Errors in decision-making and corruption in decision-making need to be looked at differently, Finance Minister Arun Jaitley said on Monday in a reference to probes against some leading industrialists and retired bureaucrats for graft.

CBI has registered a fresh case of cheating and corruption in coal block allocation scam against unknown officials of Karnataka Power Corporation Limited (KPCL) and others for allegedly ignoring joint venture conditions to give pecuniary gains to private partners.

China Minsheng Bank said Saturday that its operations were "normal" following reports that its president had been taken away to aid in a corruption investigation.

Companies in India are not fully aware of anti-corruption regulations and a lack of anti-graft programme has a negative impact on cost of doing business in the country, a business survey said Tuesday.

In India's neighbourhood, China moved to 100th place, down from 80th last year, while Pakistan and Nepal were at 126th position.

It pointed to a rise in reports of corruption in Turkey and low rankings for the major emerging economies known collectively as the BRICs.