Thursday, December 16, 2010

Finmin officials play key role in placing India on global anti-money laundering platform

INDIA is set to play bigger role in global platforms of combating money laundering activities thanks to proactive actions of a few finance ministry officials under finmin secretary Ashok Chawla. India on Wednesday got membership of the Eurasian Group on Anti-Money Laundering and Combating the Financing of Terrorism (EAG) which till now has been dominated by Russia and China.
Apart from undertaking actions in fighting terror within the country, India will now perform a key role globally in adopting, enforcing and contributing to international best practices in anti-money laundering and combating financing of terrorism.
Indian delegation to the EAG Plenary meet currently underway in Moscow was led by Bimal Julka, a 1979 batch MP cadre IAS and additional secretary in DEA, Thomas Mathew, a 1983 batch Kerala cadre IAS and joint secretary in-charge of capital markets and AM Bajaj, director in external markets division. Thomas Mathew, for the record, has a PhD in security relations and published a number of papers including on defence offset policy, India-US relations under Obama, FDI in defence and another called, “Mighty Dragon In the Sea”.

Baijal saga cautions bureaucrats looking for grabbing post-retirement pvt jobs
As India’s top investigating agency CBI raided the Noida residence of 1966 batch MP cadre retired IAS, Pradip Baijal on Wednesday, many bureaucrats who are about to end their career in government are thinking twice before jumping into private bandwagon after retirement.
A former disinvestment secretary who pushed big-ticket strategic sale like BALCO and ITDC-run Centaur Hotel in Mumbai and Kanishka Hotel in New Delhi, Baijal later became the chairman of telecom regulator Trai before joining controversial lobbyist Niira Radia’s consultancy firm.
Those who know Baijal well say that this technocrat-turned bureaucrat is an extrovert, an avid golfer and has soft corner for Chinese food. Baijal is an engineer from Roorkee College of Engineering which got an IIT status a few ears ago.
In Japan, there have been a number of debates whether to continue age-old Amakudari, or “descent from heaven” under which Japanese senior bureaucrats take up high-profile positions in the private and public sectors after retirement. The practice is increasingly viewed as corrupt as former officials might have given preferential treatment to their would-be employers in securing key government contracts.
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