Once in a Blue Moon Academia (OBMA)

  The “Charitable” Sovereign: PM CARES, Philanthrocapitalism, and the Erosion of Democratic Accountability Posted on 1st August, 2025 (GMT 13:30 hrs) ABSTRACT The Prime Minister’s Citizen Assistance and Relief in Emergency Situations (PM CARES) Fund, established in March 2020 during the COVID-19 pandemic, was designed as a citizen-driven mechanism for emergency relief. However, its formation and functioning reveal profound contradictions between its stated ideals and actual governance. This article critically examines PM CARES as an emblem of philanthrocapitalism, executive populism, and corporate-state entanglement. Drawing on theoretical frameworks such as Foucault’s governmentality, Agamben’s state of exception, Fraser’s critique of progressive neoliberalism, and Chatterjee’s political society, the analysis illustrates how PM CARES reconfigures welfare into a spectacle of personalized legitimacy, evading democratic accountability. The case of Mr. Ajay Piramal’s reported don...

  DHFL Fraud Uncovered: It’s Time to Make the Gatekeepers Pay! Posted on 30th July, 2025 (GMT 12:55 hrs) ABSTRACT This mass appeal highlights the collective plight of lakhs of small depositors adversely impacted by the Dewan Housing Finance Corporation Ltd. (DHFL) financial scandal, exposing significant lapses in auditing, credit rating, and regulatory oversight. Despite glaring irregularities and large-scale fraud involving over ₹31,000 crore, statutory auditors and leading credit rating agencies repeatedly (and reportedly) failed in their fiduciary duties, issuing allegedly misleading assurances that betrayed public trust. The present appeal calls for urgent institutional accountability through independent disciplinary action by regulatory bodies including NFRA, ICAI, SEBI, and RBI, alongside demands for restitution mechanisms for affected depositors. It also underscores the need for enhanced transparency in insolvency resolution processes and structural reforms to prevent r...