Gujarat police have dismantled a Rs 77 crore cyber fraud operation with links to 375 cases nationwide, arresting 16 individuals and uncovering international connections.
'My resignation is a larger governance and governance-plus kind of an issue, which the board of directors of the bank should be introspecting.'
Delhi Police have arrested five individuals for allegedly supplying mule bank accounts to cyber fraud syndicates with links to Dubai. The arrests follow a complaint regarding a stock market investment scam where the victim was duped of over Rs 12 lakh.
HDFC Bank has been barred from onboarding new customers at its Dubai International Financial Centre branch by the local regulator. HDFC Bank, India's largest private sector lender, said it has initiated the necessary steps to comply with the notice of the Dubai Financial Services Authority and added that it does not see any material impact from it.
HDFC Bank reported an 8.04 per cent increase in its March quarter consolidated net profit to Rs 20,350.76 crore, but highlighted potential near-term risks for small-business borrowers due to the West Asia conflict. The bank's CEO also addressed the recent resignation of its non-executive chairman and hinted at a potential top-level reorganisation.
Former HDFC Bank chairman Atanu Chakraborty cites misselling of AT-1 bonds and underperformance as key reasons for his resignation, dismissing personal differences as a major factor.
Hyderabad Police Commissioner V C Sajjanar convened a meeting with bankers to address the misuse of bank accounts in cyber frauds and implement preventative measures, following 'Operation Octopus' which dismantled cyber fraud networks and led to arrests of complicit bank officials.
The controversy involves mis-selling Credit Suisse AT-I bonds to NRIs as fixed-maturity instruments, later written off after collapse.
For India, much is at stake: Crucial energy supplies traversing the Strait of Hormuz, the fate of its 10 million citizens living and working in West Asia -- who send generous remittances home -- and its major trade links with the region.
The BSE Sensex and the Nifty 50 declined around 4.5 per cent each since the start of the West Asia conflict.
The CBI has conducted searches across multiple states in connection with a large-scale online financial fraud involving the overseas fintech platform 'Pyypl'.
'In India, there is this first generation migrant, say from a small village in UP. He didn't go to the Gulf to buy a big house but make the life of his family better.' 'He may have paid 1 lakh rupees to an agent to go to the Gulf. Imagine what will happen to him and his family if he has to come back. He and his family will become poor again.' 'He went to the Gulf to come out of poverty, but this war will make his family trapped in poverty once again.'
Two chartered accountants have been arrested by the Enforcement Directorate in connection with a money laundering case linked to a cyber fraud involving Rs 641 crore.
Fight on toward goals that keep receding, or exit with most objectives unmet. Trump is agitated, his poll numbers falling below the Plimsoll line, his base fractured between those who back the war and those who remember that he campaigned on ending them.
But selectively, with regulatory scrutiny and special approval, points out Tamal Bandyopadhyay.
India and Pakistan clash in a highly anticipated T20 World Cup match. India needs middle-order stability and a fit Abhishek Sharma, while Pakistan's spin attack poses a threat. The weather forecast predicts a high chance of rain.
The Pakistan Cricket Board (PCB) could face massive financial losses if the ICC's all-powerful governing board decides to penalise them for refusing to play the T20 World Cup match against India on February 15 in Colombo.
'...including my baby sisters, age three and one.' 'My dad was humiliated, and he started screaming at them.'
Glimpses from around the world that will make you smile and cry.
Gujarat police arrest a woman allegedly involved in trafficking job aspirants to Myanmar and Thailand for cyber slavery. The accused lured people with promises of high-paying jobs and forced them to work for international cyber crime syndicates.
The Enforcement Directorate has issued fresh summons to Reliance Group chairman Anil Ambani to appear before it on November 17 in a FEMA case after he skipped his scheduled date on Friday.
Consider this: despite a traffic of over 130 million passengers flying international-to-international (I2I) routes per annum over India, only one-sixth of the long-haul traffic (26 million) emanates from the country.
Sanctioning Russian oil would have led to a sharp surge in oil prices to above $80 per barrel levels, which would impact pump prices in the US ahead of midterm elections next year.
Here's what Indian investors diversifying into equities, ETFs, and real estate abroad to manage risk, returns, and currency exposure must watch out for.
Pakistan beat Bangladesh, set up first ever Asia Cup final date against India
The federal probe agency also said it seized Rs 12 crore in cash (including about Rs crore in foreign currency), gold jewellery worth Rs 6 crore, silver about 10 kg along with four vehicles following raids launched on Friday in multiple states.
Finance Minister Nirmala Sitharaman on Tuesday asked fintech firms to focus on risk management at a time when criminals are using AI to mimic voices, clone identities and create lifelike videos to manipulate people.
From tackling visa woes to admission counselling, rediffGURU Dr Karan Gupta helps you choose the right course and country to study abroad.
Billionaire Gautam Adani's group is in advanced talks to acquire real estate company Emaar India for an enterprise value of around $1.4-1.5 billion as it looks to expand its property business, according to sources. Dubai-based Emaar Properties entered the Indian real estate market in 2005 in partnership with India's MGF Development and invested Rs 8,500 crore through the joint venture firm Emaar MGF Land.
To enable Indian banks and financial institutions to develop an aircraft-leasing ecosystem at GIFT City, the Ministry of Civil Aviation has sought support from the Ministry of Finance. It has also raised concern over slow progress in developing aircraft leasing in India.
The government is looking to give Bharat Global Ports a certain amount of domestic exposure after it set up the state-owned consortium to increase India's global maritime heft, officials aware of the development said. The intended domestic exposure is meant to give the consortium experience and build its credentials for international projects.
'International cricket is incomplete without Pakistan.'
A man wanted by the Enforcement Directorate in a 'cash-for-votes' case-linked money laundering investigation in Maharashtra has been apprehended at the Ahmedabad international airport, official sources said on Wednesday.
A PCB source said that the presence of a large International Cricket Council (ICC) delegation, including broadcast, hospitality and event operations officials, is an affirmation that the event is on schedule in Pakistan.
Rohit, a young man from Punjab, India, was deported from the United States after a perilous journey that cost him his life savings and left his family in financial ruin. He had been promised legal entry to the U.S. by a travel agent in Amritsar, but his hopes were dashed when he was apprehended for illegally crossing the border. The ordeal highlights the risks associated with illegal migration and the exploitation faced by vulnerable individuals seeking a better life.
'The hacker replaced original emails and planted fraudulent emails with a request letter and invoices to be paid to fraudulent bank accounts.'
The national team, captained for the bulk of those years by Misbah Ul Haq, hosted its 'home' games in the United Arab Emirates and remained relatively successful until fixtures trickled back onto Pakistani soil in 2018.
Nitin Bhatnagar, a Maltese citizen and a former relationship manager of the Bank of Singapore, was taken into custody under the provisions of the Prevention of Money Laundering Act on Tuesday.
The server used for the purpose was tracked by cyber crime personnel to Divyanshu Patel, a resident of Unjha in Mehsana district, who was arrested, he said.
The eight-day long annual meetings of the World Bank and International Monetary Fund, which began in Dubai on Wednesday, would intensively discuss employment creation, private sector development and financial sector reforms.
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