According to RBI's circular, cases of frauds involving more than Rs 25 crore and up to Rs 50 crore should be given to the CBI's Banking Security and Fraud Cell
'Modi's speech was like one of our sour food preparations; Rahul's was sweet.'
'India has a conviction rate of about 25% for serious crimes. This means that 75% of the time the police probably get the wrong suspect, and this makes murdering them in an encounter more morally problematic for the officers concerned.' says Aakar Patel.
Theoretically, Modi, who understood corporate finance, committed no crime by raising debt to fund a growing business. In fact, he did a tidy job of it, but his operation started to see the ground underneath it give way in January 2018. A fascinating excerpt from Pavan C Lall's Flawed: The Rise And Fall Of India's Diamond Mogul Nirav Modi.
Tax sleuths have detected over Rs 52 crore of unexplained cash in jewellers' bank accounts
"Our preliminary estimates show we may have to provide for around Rs 60 billion in the balance sheet for the quarter ending on March. The due date for LoUs amounting to Rs 60 billion is falling in the present quarter. This will be a contingent liability for the bank," said a senior executive, on condition of anonymity.
Unlike most MF distributors in India, Paytm Money will be offering low-cost direct plans, which don't charge for distribution expenses
Besides Joseph, one of the lawyers defending Michel is a member of the Congress' youth wing while the father of another is a party member, Patra claimed at a press conference.
He claimed the NDA government bought the planes at Rs 1,600 crore a piece as against the Rs 526 crore for each aircraft fixed by the UPA.
Ashish Shah of A C Choksi says Timex and International Travel House are great stocks to buy.
The RBI will take action against, apart from erring auditors, those responsible for wrong information in a bank's financial statements, incorrect certification given by auditors, wrong information given in the Long Form Audit Report, and any other violations of the RBI's rules and regulations on auditing.
Demand bounces back but uncertainty over GST rate for jewellery casts a shadow over future.
The Bill provides comprehensive legislation to prohibit unregulated deposits, with punishment for those promoting such schemes or defaulting on repayment.
Precious ornaments are estimated to become 3% costlier under GST
The meeting is expected to chart a road map for cleaning up their balance sheets and boost credit flows, reports Somesh Jha.
Women dominate Indian banks's clerical and officer rolls, but few make it to the executive office these days, notes Tamal Bandyopadhyay.
Modi, a diamond jeweller whose designs have been worn by Hollywood stars, is now believed to be running a new business, which describes itself on the UK's Companies House register as a wholesale trader in watches and jewellery and a retailer of watches and jewellery in specialised stores.
FIIs have offloaded shares of Bajaj Corp, Nestle, Jyothy Laboratories and Britannia.
The ED has claimed that Nirav Modi had refused to join the probe despite acknowledging mails and summons issued to him and that he doesn't want to return to India.
'There are so many issues that the CVC is examining both with reference to the PNB and RBI,' K V Chowdary said.
Experts say the recent Rs 14,000-crore PNB fraud could have been avoided had there been an integration of PNB's CBS with its SWIFT system
The bench also extended the interim protection from arrest granted to Chidambaram till September 5.
Surjewala alleged that Mehta and his family were allowed to leave India even when there were complaints pending against him with the CBI.
'We don't trade with any business where we have specific concerns,' a De Beers spokesperson said.
The BJP chief said the ED and the CBI have taken prompt action in the Nirav Modi case.
'Modi had promised to deposit money in the accounts of people, but he has done it only in the case of some rich businessmen like the Ambanis'
Indian gold imports, which fell last week as world prices rose, are likely to pick up as jewellers replenish stocks to meet local demand during the marriage season, traders said on Monday.
While PNB did not name the other lenders, Union Bank of India, Allahabad Bank and Axis Bank are said to have offered credit based on letters of undertaking (LOUs) issued by PNB. Foreign bank branches too are under investigation.
The assets have been attached as part of five separate orders issued by the central probe agency under the Prevention of Money Laundering Act, it said.
The Congress is seeking to oust the BJP government in Haryana in the October 21 polls.
The price is at a 4-year low, stabilising around Rs 25,000/10gm.
Polling for the 288-seat Assembly is being held in a single-phase on Wednesday.
The protesting students claimed that when they reached Red Fort, police did not allow them to take out the march but they did not budge and said they would make their voices heard.
When 17 million Indians seek their fortune abroad it only means people are losing faith in the government's ability to honour its promises, says Sunanda K Datta-Ray.
'The failures of private businessmen have set back the process of market-oriented reform, though that is the only way forward,' argues T N Ninan.
In its letter, finance ministry has pointed to sections 35, 35A and 36 of the Banking Regulation Act, 1949, to highlight the powers and functions of the RBI as regulator
Gold was Rs 28,100 per 10 gm on July 26, 2014.
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