Denis Balibouse / Reuters

Here's What PM Modi Can And Cannot Do About Offshore Black Money

Since the HSBC Swiss leaks last year, there's been a growing scrutiny of the role of financial secrecy in aiding tax evasion, so it's no surprise that Prime Minister Modi's focus during his Switzerland visit included the subject of Indians with hidden Swiss bank accounts. Unfortunately, the issue of cross-border movement of black money is complex and governments around the world are limited in what they can do on their own to persuade jurisdictions like Switzerland to cooperate.
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Our Investors Are Bullish: Zomato CEO Responds To HSBC Mark-Down

An HSBC analyst report marked down our valuation from $1 billion to $500 million. For starters, this is very different from all the markdowns so far where investors have marked down their own investments. But given all the media reports, I got a lot of questions from people at Zomato about what's going on. Here's an email I sent to everybody at Zomato (2100 people currently across the world) to allay their concerns and answer their questions. Read on.