Skip to main content

Telecom second most corruption-prone sector in India: Survey

Telecommmunications, under limelight in recent months due to the 2G scam, has been voted as the second most corruption-prone sector in India after real estate and construction, according to a survey by KPMG.

The survey, covering corporate India, also found that a huge majority of corporates believe India can surpass an annual growth rate of over 9 per cent if corruption is controlled, while self-critically admitting that private sector is greatly responsible for bribery and nepotism.

The survey is based on responses from 100 Indian and multi-national corporations operating in the country in diverse areas, including transportation and logistics, aviation, oil and gas, consumer goods, financial services, auto and chemicals.

As per the final results, 32 per cent of the respondents named real estate and construction sector as most prone to corruption. In second place came telecommunications, which was named by 17 per cent respondents as the most corruption prone sector in India.

The telecom sector has been in spotlight due to the 2G scam in which many top industry players have been embroiled.

Among others in the KPMG survey, development sectors such as education and poverty alleviation came third with 13 per cent respondents terming it as the most corrupt.

It was followed by financial services such as banking and insurance with 10 per cent, defence with 9 per cent, IT/ITES/BPO with 6 per cent and energy and power with 5 per cent.

"The survey shows that corporates cannot just claim to be victims of corruption. They are also responsible for it," Transparency International India Executive Director Anupama Jha said during the launch of the survey.

According to the KPMG survey, 51 per cent respondents expressed apprehension that rising corruption will make India less attractive for foreign investments, while 90 per cent were of the opinion that corruption increases volatility in the stock markets preventing long-term investors from coming to the country.

As many as 99 per cent of the corporations were of the view that the biggest impact of corruption on business was that
it skew the level playing field.

"Besides, 68 per cent respondents were of the view that in many cases corruption is induced by the private sector," KPMG India Executive Director (Forensic Services) said.

While praising certain rules like the Right to Information Act (RTI), majority of the corporate houses surveyed, however, believe the level of corruption in the country will remain the same irrespective of legislation.

Comments

Popular posts from this blog

"Facebook Tests a New Feature To Let Users Enjoy Events Togather"

Facebook is testing a new feature to let users share events that they are interesting in attending to, on their "Stories" so that they can coordinate with friends and enjoy events together.

According to a TechCrunch report, the test will involve a new option to "Share to Your Story" that appears when you visit an event's page on Facebook.

"If shared, friends will see a tappable sticker within your Story that includes the event details and lets friends respond that they're also 'interested' right from the Story itself," the report added.

Friends also can tap on the sticker in the Story to visit the event page.

"There's also a link to the event page built in and a way to start a group chat on Messenger with friends who responded," said The Verge.

The test is currently rolling out to users in the US, Mexico and Brazil.

To use the new test feature, go to the Events page, click "Share" below the date and time of the eve…

Largest Spike in Hate Crimes Since 9/11, Says a Report

The number of hate crimes reported in the United States jumped by 17% last year, the largest increase since 2001 when the terrorist hijackings on 9/11 fueled a surge in attacks on Americans of Muslim and Arab ancestry.

A total of 7,175 hate crime incidents were reported to the Uniform Crime Reporting (UCR) Program in 2017, up from 6,121 in 2016, said the UCR Program's annual Hate Crime Statistics report, Xinhua reported.

It's the third year in a row the FBI has reported an increase in hate crimes. The number of hate crimes in 2016 rose about five percent from 2015.

The 2017 incidents encompass 8,437 total offences, meaning some involved multiple criminal charges.

According to the report, the most common bias categories in single-bias incidents were race/ethnicity/ancestry (59.6 percent), religion (20.6 percent), and sexual orientation (15.8 percent).

The victims represented a cross section of society, with African-Americans and Jews the most frequently targeted victims. Of 34…

2.2 bn Facebook Users Must Log Out, Re-login Across Devices, Says Experts

After Facebook admitted that hackers broke into nearly 50 million users' accounts by stealing their "access tokens" or digital keys, cyber experts on Saturday warned over 2.3 billion users to log out and log back into Facebook, or any of third-party apps that use Facebook login.

Facebook has reset the access tokens of almost 50 million accounts it knew were affected. It has also taken the precautionary step of resetting access tokens for another 40 million accounts that have been subject to "View As" look-up in the last year.

"For now, logging out and back in is all that is necessary. The truly concerned should use this as a reminder and an opportunity to review all of their security and privacy settings on Facebook and all other social media platforms," Chester Wisniewski, Principal Research Scientist with global cyber security major Sophos, told.

According to Dr Gary McGraw, Vice President of Security Technology, Synopsys (Software Integrity Group)…