'Modi govt's assault on dissent': Foreign funds of top finance NGO blocked

By Rajiv Shah

In a surprise move, the Ministry of Home Affairs, Government of India, has cancelled the foreign funding license of the well-known advocacy group, Centre for Financial Accountability (CFA), known for critically examining India's finance and banking sectors from human rights and environmental angle.
Ironically, CFA lost its license under the Foreign Contribution Regulation Act (FCRA) even as it completed seven years of Finance Matters (FM), its widely appreciated column in the CFA website. In a statement, CFA said, "We are happy that somebody in power is reading our weekly newsletters. We assure them that we will continue to enrich their reading in future too!"
According to CFA, "The past seven years of FM coincided with the regime whose economic policies created a havoc for the common people. Demonetisation, ill-conceived GST and a reckless lockdown broke the backbone of the informal sector and unemployment peaked as never before. Dwindling income and skyrocketing inflation burnt a hole in the poor people’s purses exhausting whatever was left of their household savings."

It continued, "While we slipped in the global hunger index, the policies of the government sold off pieces of the country to the Adanis and the Ambanis, and gave the corporates massive tax breaks and write-offs fattening their pockets. While all of this was unfolding over the last decade, keeping quiet or looking the other way was never a choice. We joined others in holding this government to account."
According to CFA, "Through its weekly editions, Finance Matters has consistently provided a platform for informed commentary on crucial financial issues affecting our nation and world today. From dissecting the implications of global economic policies to unravelling the complexities of banking regulations, the newsletter has empowered its readers with valuable insights and perspectives."
Especially referring to the weekly column of former general secretary of the All India Bank Officers’ Confederation and steering committee Mmember at the Global Labour University Thomas Franco, Random Reflections, it said, it has been "one which is awaited for by many for the insights and analysis of Indian banking and the economy. Started towards the end of 2019, the column has been consistent and reproduced by many mainstream media."

Calling Finance Matters "a trusted source of information for policymakers, financial professionals, academics, and concerned citizens alike", CFA claimed, it has played a pivotal role in "advocating for and amplifying responsible financial practices and socio-economic, environment and climate accountability within the financial institutions."

Seeking public donations to continue its advocacy work, the statement underlined, "At a time when the government clampdown on civil society organisations (CSOs) has increased with a vengeance, in addition to false cases on and illegal incarceration of activists, throttling dissent and democratic rights, CFA will continue to speak truth to power.

In a separate statement, the Peoples’ Commission on Public Sector and Services, a civil outfit comprising of eminent academics, jurists, erstwhile administrators, trade unionists and social activists, the denial of renewal of FCRA registration of the public-spirited NGO "reeks of mala fide intent and vindictiveness."

Expressing solidarity with CFA, a "fraternal organisation with which it has collaborated closely in the last several years", the Commission said, the "latest action" is yet another confirmation that "the Modi government in its third term continues on a path of extinguishing dissent."

"The Commission notes with deep concern the manner in which the Ministry has been suspending/ revoking FCRA registration of several NGOs for minor infractions, while, shockingly, allowing political parties unfettered access to foreign donations", it underlined.

Stating that the Commission has highlighted how the current regime has worked on removing legislative hurdles to accessing foreign funding to political parties, it said, "This is clearly anomalous: there is one set of rules for political parties accessing foreign funds, while public-spirited NGOs face the weight of the state."

The Commission noted, "The CFA, a fledgling institution, in its short life span of 7 years, has distinguished itself in the cause of undertaking research that has provided analytical inputs to academia, journalists, social activists and the ordinary folk at a time when the mainstream media has sold its heart and soul to the powers that be."

It added, "In particular, its detailed fact sheets on specific issues ranging from demonetisation to inequities of the Indian tax regime have been revelatory for many. It has served a great public cause by shining a light on the misdeeds of Big Business, particularly their collusion with the ruling regime."

Comments

From plagiarism to proxy exams: Galgotias and systemic failure in education

By Sandeep Pandey* Shock is being expressed at Galgotias University being found presenting a Chinese-made robotic dog and a South Korean-made soccer-playing drone as its own creations at the recently held India AI Impact Summit 2026, a global event in New Delhi. Earlier, a UGC-listed journal had published a paper from the university titled “Corona Virus Killed by Sound Vibrations Produced by Thali or Ghanti: A Potential Hypothesis,” which became the subject of widespread ridicule. Following the robotic dog controversy coming to light, the university has withdrawn the paper. These incidents are symptoms of deeper problems afflicting the Indian education system in general. Galgotias merely bit off more than it could chew.

Farewell to Saleem Samad: A life devoted to fearless journalism

By Nava Thakuria* Heartbreaking news arrived from Dhaka as the vibrant city lost one of its most active and committed citizens with the passing of journalist, author and progressive Bangladeshi national Saleem Samad. A gentleman who always had issues to discuss with anyone, anywhere and at any time, he passed away on 22 February 2026 while undergoing cancer treatment at Dhaka Medical College Hospital. He was 74.

From ancient wisdom to modern nationhood: The Indian story

By Syed Osman Sher South of the Himalayas lies a triangular stretch of land, spreading about 2,000 miles in each direction—a world of rare magic. It has fired the imagination of wanderers, settlers, raiders, traders, conquerors, and colonizers. They entered this country bringing with them new ethnicities, cultures, customs, religions, and languages.

Sergei Vasilyevich Gerasimov, the artist who survived Stalin's cultural purges

By Harsh Thakor* Sergei Vasilyevich Gerasimov (September 14, 1885 – April 20, 1964) was a Soviet artist, professor, academician, and teacher. His work was posthumously awarded the Lenin Prize, the highest artistic honour of the USSR. His paintings traced the development of socialist realism in the visual arts while retaining qualities drawn from impressionism. Gerasimov reconciled a lyrical approach to nature with the demands of Soviet socialist ideology.

Public money, private profits: Crop insurance scheme as goldmine for corporates

By Vikas Meshram The farmer in India is not merely a food provider; he is the soul of the nation. For centuries, enduring natural calamities and bearing debt generation after generation while remaining loyal to the soil, this community now finds itself trapped in a different kind of crisis. In February 2016, the Modi government launched the Pradhan Mantri Fasal Bima Yojana (PMFBY) with the stated objective of freeing farmers from the shackles of debt. It was an ambitious attempt to provide a strong safety net to cultivators repeatedly devastated by excessive rainfall, drought, and hailstorms.

'Policy long overdue': Coalition of 29 experts tells JP Nadda to act on SC warning label order

By A Representative In a significant development for public health, the Supreme Court of India has directed the Food Safety and Standards Authority of India (FSSAI) to seriously consider implementing mandatory front-of-pack warning labels on pre-packaged food products. The order, passed by a bench of Justices J.B. Pardiwala and K.V. Viswanathan on February 10, 2026, comes as the Court expressed dissatisfaction with the regulatory body's progress on the issue.

Unpaid overtime, broken promises: Indian Oil workers strike in Panipat

By Rosamma Thomas Thousands of workers at the Indian Oil Corporation refinery in Panipat, Haryana, went on strike beginning February 23, 2026. They faced a police lathi charge, and the Central Industrial Security Force fired into the air to control the crowd.

From non-alignment to strategic partnership: India's ideological shift toward Israel

By Bhabani Shankar Nayak* India's historical foreign policy maintained a notable duality: offering sanctuary to persecuted Jewish communities dating back centuries, while simultaneously supporting Palestinian self-determination as an expression of its broader anti-colonial foreign policy commitments. The gradual shift in Indian foreign policy under Hindutva-aligned governance — moving toward a strategic partnership with Israel while reducing substantive engagement with the Palestinian cause — raises legitimate questions about ideological motivation and geopolitical consequence.

Development vs community: New coal politics and old conflicts in Madhya Pradesh

By Deepmala Patel* The Singrauli region of Madhya Pradesh, often described as “India’s energy capital,” has for decades been a hub of coal mining and thermal power generation. Today, the Dhirouli coal mine project in this district has triggered widespread protests among local communities. In recent years, the project has generated intense controversy, public opposition, and significant legal and social questions. This is not merely a dispute over one mine; it raises a larger question—who pays the price for energy development? Large corporate beneficiaries or the survival of local communities?

Search This Blog