Opinion - News Analysis

Corrections and clarifications

The third paragraph in a report “Inflation inches closer to 12 p.c.” (August 1, 2008, page 1) was “Alongside, it had also announced a 25 basis points increase in the cash reserve ratio (CRR) — the mandatory deposits that banks have to park with it — so as to suck out another Rs. 8,000 crore from the monetary system and thereby help cool prices.” It should have been Rs. 9,000 crore.

It was a similar error (fourth paragraph) in “RBI steps will help contain inflation: government” (“Business” page, July 30, 2008) that said “Alongside, to suck out more liquidity to the extent of about Rs. 8,000 crore, the RBI also raised the cash reserve ratio (CRR) — the mandatory deposit requirement for banks — by 25 basis points to nine per cent with effect from the fortnight beginning August 30 this year.” It should have been Rs. 9,000 crore!

The third paragraph in a report “Package to woo retiring IIT faculty mooted” (August 1, 2008) was “With the mushrooming of engineering institutions, including six new IITs being launched this year, ‘shortage of faculty is an area of acute concern,’ Union Minister of State for Human Resource Development D. Purandeswari, said at the inauguration function.” Eight new IITs have been approved. (They are to be set up in Andhra Pradesh, Bihar, Gujarat, Himachal Pradesh, Indore (Madhya Pradesh), Orissa, Punjab and Rajasthan. Academic sessions have started in six of them from late July 2008.)

The last paragraph of a box item “Amendment to the Gratuity Act approved” — that accompanied a report “Cabinet okays Rs. 1,000-cr. more for insurance scheme” (August 1, 2008) — abruptly began by saying that the Government has also ex-post-facto approved signing of the agreement between India and the Republics of El-Salvador, Honduras and Nicaragua on exemption from visa requirement for the holders of diplomatic and official/service passports. It led to queries. A sub-heading could have been inserted before this paragraph, or it should have been used as an independent news item.

A football report “Can Brazil break the jinx this time?” (“Sport”, July 29, 2008) was incorrect in saying, in the seventeenth paragraph, that “Nigeria, the 1996 winner, is another key contender hoping to fortify the side with seniors like Samuel Eto’o.” Eto’o plays for Cameroon.

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