Subramanian's position as India's executive director at IMF terminated due to impropriety: Congress

Subramanian's position as India's executive director at IMF terminated due to impropriety: Congress https://www.taxtmi.com/news?id=43010 Allegations state the government abruptly terminated India's IMF executive director amid claims that Union Bank of India purchased two lakh copies of his book using public funds, paid a large advance, and allocated remaining costs to regional offices. The purchase is questioned for lack of board or Department of Financial Services approval, potential breach of the bank's fiduciary duties, and a possible conflict of interest given the author's former government role. Further allegations claim royalty payments operated as an "indirect bribe" to influence the CEO's extension, prompting calls for finance ministry investigation and disclosure. en-us Tue, 06 May 2025 16:46:04 +0530 Tue, 06 May 2025 16:46:04 +0530 TaxTMI RSS Generator Subramanian's position as India's executive director at IMF terminated due to impropriety: Congress https://www.taxtmi.com/news?id=43010 Allegations state the government abruptly terminated India's IMF executive director amid claims that Union Bank of India purchased two lakh copies of his book using public funds, paid a large advance, and allocated remaining costs to regional offices. The purchase is questioned for lack of board or Department of Financial Services approval, potential breach of the bank's fiduciary duties, and a possible conflict of interest given the author's former government role. Further allegations claim royalty payments operated as an "indirect bribe" to influence the CEO's extension, prompting calls for finance ministry investigation and disclosure. News - Tue, 06 May 2025 16:46:04 +0530 https://www.taxtmi.com/news?id=43010