While the scam highlights the need for an overhaul of the oversight mechanism of banks and of their internal controls, questions are being raised on why multiple audits failed to raise an alarm
The account turned bad before Chaudhari took over as SBI chairman and the asset was sold to AARC following an open bidding process, months after Chaudhari retired, explains Tamal Bandyopadhyay.
A user just needs to download any app floated by such fraudsters and apply for instant loans. These apps are mainly concentrated on Google Play considering the reach and popularity of Android systems.
In the third of a four-part series, Business Standard reporter travels to Nashik to assess how the currency press there is responding to demonetisation.
Now, it is life as usual in the merged entity, said an associate.
"It would be appropriate for you to include two representatives from us so as to better understand our concerns about the company, and also to enable the new shareholders to confidently expect a highly empowered and engaged workforce," Jet staff told SBI.
Upgradation to the new product (from Infosys) will stabilise by this month-end
A customer wanting to buy a car would have to wait a long time for delivery.
The US Department of Justice declined to comment on Modi.
'The finance minister said, the MSME is the backbone of the economy. My question is, what have you done for the sector?'
Real estate portal Housing.com has sacked its CEO Rahul Yadav.
Market participants are hoping for a few tweaks on the taxation front which will encourage consumers and businesses to spend.
The observation came in a judgment by which the court quashed criminal charges against bank employee Devidas Ramchandra Tuljapurkar.
During the meeting with Finance Minister Nirmala Sitharaman, it was also suggested that employees' provident fund should increase its exposure in the stock market, which in turn would improve liquidity.
'You have come out with a package for the kisan.' 'You have a package for industry.' 'But has anyone addressed the issues concerning small traders?'
Besides growing tech and digital enhancements, the firms are ramping up the hiring of more delivery partners and reinforcing existing Covid protocols.
Sheikh, who is very optimistic of the industry sailing though this tough phase, thanked Mohit Arora, the owner of Supertech, who has been sponsoring him since 2017.
'Consolidation was part of the Indradhanush package.'
The bank is also working on a three-year business plan, nearly coinciding with the time its new chairman Rajnish Kumar would be in the corner office.
Industry fears waiver of interest on interest would distort credit culture, may encourage borrowers who can pay to defer repayment.
Ganguly is one of the 11 members of the world cricket committee, chaired by Mike Brearley of MCC, which announced the new Laws of Cricket, to be incorporated in the ICC Playing Conditions.
Enactment of Insolvency and Bankruptcy Code has been instrumental in pushing up India's ranking in the 'Doing Business' report
Given how everything has played out, Mehul Choksi, now 62, achieved all that he wanted but for all the wrong reasons, says Pavan Lall.
Around 2,500 engineers and 45,000 cash management employees step up efforts to complete the target of recalibrating 12,500 ATMs every day.
A reception often reserved for rockstars came the way of mining mogul Anil Agarwal when he started revealing nuggets of his ascent from a scrap-metal dealer to one of India's most prominent self-made industrialists on social media. And now he has been flooded with booking writing proposals and has even been offered money for a biopic. In February this year, Agarwal, 68, started tweeting his journey from Bihar to Mumbai first and then to London to head a globally diversified natural resources company with interests in zinc-lead-silver, iron ore, steel, copper, aluminium, power, oil and gas.
Did you know that the Government of India has granted certain tax exemptions to start-ups for a prescribed period?
ugar mills in UP owe thousands of crores to cane farmers.
The Left unions want concrete action and not just 'assurances'.
SBI chairman Rajnish Kumar said Naresh Goyal would be eligible to bid for the airline when the lenders auction it next month.
With the first salary date after demonetisation around the corner, will India's labourers be able to take their hard-earned wages home?
There's a certain amount of drama to the profession. Sample these taglines: 'We can see the unseen'; 'I can plant my detective in your guest bedroom.' One agency has even ensured that all its phone numbers end in '007'.
The challenge for Indian software is clear. A good part of its bread and butter business - writing code and maintaining software systems - is being automated, reducing revenue streams and work for lower level employees
The pre-Budget proposals sent to the finance ministry aim to bring uniformity in tax treatment for investments in different financial sectors, mitigate hardship to retail taxpayers, and encourage participation in mutual funds.
The raids resulted in recovery of documents of some dummy firms linked to Mallya like Gold Reef Investments Ltd and McDowell Holdings Ltd.
The iconinc Zaveri Bazaar in south Mumbai does business of around Rs 3 trillion a year.
The State Bank of India (SBI), in association with Air-India and Singapore Tourism Board, has launched a personal loan scheme for travel to Singapore, valid for residents of Andhra Pradesh.
SIT on black money on Monday decided to widen its probe as new names of Indians with Swiss bank accounts have come up
With its political colour dominated by less than democratic trends, BRICS currently leaves some of us wondering -- where in this grouping is there an assurance that human freedom will be respected unconditionally? It would be nice to see the new members of BRICS drawn from the ranks of countries wedded to preserving and guarding human freedom, observes Shyam G Menon.
The celebrations after the 2017 World Cup went on for the next few months. But there was one question that the Indian cricketers failed to respond to in their interviews. 'What was their next assignment?' Nobody knew; the players were waiting for the BCCI to tell them. The BCCI, with barely any time from its endless legal tangles, had nothing in mind immediately. The likes of Australia and England were back on the field, battling it out in the Ashes in front of sizeable crowds. But for Mithali Raj and team, there was no road ahead.
Eleven years on, while 80% of scam-hit investors have been fully compensated, more than 50% of the sum is yet to be distributed.
