Sunday February 18, 2018
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Creative Cabs: Showcasing Mumbai’s art and colours on Wheels

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By Manas Dwivedi

55db8b741d00002f00145bb0The city of dreams Mumbai fulfils millions of dreams daily; it gives hope to the one who is struggling to make his dream a reality. One such dream is now real – an aspiration of beautifying the transportation system of the city. Such idea is brought alive by Taxi Fabric, a foundation working exclusively towards uplifting artwork and promoting designing as a profession in India. They aim to provide exposure to local artists and improve passenger’s travel experience too.

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The busy roads of Mumbai are no longer seen as dull and drab. The usual black and yellow taxis have now turned into a colourful epitome of some brilliant masterpiece. The unique casing of taxis in Mumbai is now seen with some very beautiful interiors where every design is based on a broad theme showcasing “stories of Mumbai”.

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The idea is brained by a team of four entrepreneurial colleagues – Sanket Avlani, Girish Narayandass, Mahak Malik and Nathlie Gordon. Aiming to create a cultural drive, the team is constantly working with a group of local designers, photographers, craftsmen and volunteers. These people use their skill effectively and install creative designs on the seat covers and upholstery of the taxi. In a hunt to make a colourful network of cabs, Team Taxi Fabric keeps in mind the need for promoting various art forms. The project is funded through a global crowdfunding platform, Kickstarter.

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Taxi Fabric is looking to change the face and colour of as many cabs operating in the city of Bollywood. They have already transformed 8 of the 50,000 taxis running in Mumbai. The project has so far garnered some good words from the city’s residents. They say it helps them understand the art and also believe that art can really create a mesmerizing impact. Due to comparative decline in forms of design and drawing, this new ramification is like giving some good zest and zeal to the field of art.

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Although Mumbai cab drivers are known for customizing their taxis with different flashy articles but coming up with such a creative start up has given the city ‘new eyes’ to see the world around. It helps travellers in Mumbai to experience, feel and understand various emotions behind such popping caricatures.

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This astonishing ramification is a very careful and soothing step in changing the mood and vibes of the passengers. The art-piece over the fabric in the taxis also helps in making the city brighter and happier, where not just the artist, but the cabbie and the passenger love the new thread.

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Punjab National Bank detects $1.8 bn fraud at a Mumbai branch, Links to Nirav Modi

Punjab National Bank, the second largest public sector bank in India

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Punjab National Bank is India's second largest bank. Wikimedia Commons
Punjab National Bank is India's second largest bank. Wikimedia Commons
  • Punjab National bank has detected a $1.8 billion fraud
  • The fraud happened in their Mumbai branch
  • The matter has been referred to law enforcement

Punjab National Bank, the second largest public sector bank in India, has detected a $1.8 billion fraud in one of its branches here, the bank said in a regulatory filing to the stock exchanges on Wednesday.

Punjab National Bank experiences a fraud of $1.8 bn.
Punjab National Bank experiences a fraud of $1.8 bn.

“The bank has detected some fraudulent and unauthorised transactions (messages) in one of its branch in Mumbai for the benefit of a few select account holders with their apparent connivance,” the filing by the bank said.

It had quoted the quantum of such transactions was to the tune of around $1,771.69 million (around Rs 11,515 crore).

The amount of fraudulent transactions is equivalent to eight times the bank’s net income of about Rs 1,320 crore ($206 million).

Also Read: Raghuram Rajan: The Man Who Revolutionized The Indian Banking System

This case has happened at a time when the Indian banking system is already grappling to tackle its swelling non-performing assets.

“Based on these transactions other banks appear to have advanced money to these customers abroad. In the bank these transactions are contingent in nature and liability arising out of these on the bank shall be decided based on the law and genuineness of underlying transactions,” the filing said.

Punjab National Bank's Mumbai branch is now under high scrutiny. Wikimedia Commons
Punjab National Bank’s Mumbai branch is now under high scrutiny. Wikimedia Commons

The bank informed: “The matter is already referred to law enforcement agencies to examine and book the culprits as per law of the land.”

On February 5, the Central Bureau of Investigation had booked billionaire diamond service provider Nirav Modi, his brother, wife and an enterprise companion for allegedly cheating Punjab National Bank of over Rs 280.70 crore last year.

Also Read: Con man in Delhi Duped Amazon for over Rs. 50 Lakh; Arrested by Delhi Police for Fraud

Following the complaint, the CBI registered a FIR under the Indian Penal Code sections related to criminal conspiracy, cheating and provisions of the Prevention of Corruption Act against the four.

The stock of Punjab National Bank was trading at Rs 149.20 per share, down 7.70 percent at the BSE at 1.59 p.m. IANS