The EOW stated in its closure report that it did not see any criminality or wrongdoing in the matter, adding that the bank in question did not suffer any losses in the process of sanctioning loans or selling the Jarandeshwar Sugar Mill.
The rift between the Congress Party and Nationalist Congress Party seems to have found a new battleground Maharashtra State Cooperative (MSC) Bank.
The juggernaut of the Bharatiya Janata Party-led National Democratic Alliance, which triumphed in three of the four east and north-eastern states that went for assembly bypolls on Saturday, was halted yet again in West Bengal where Mamata Banerjee's Trinamool Congress registered a six-on-six clean sweep.
'Investors should not commit fresh money to these stocks right now, unless they can hold for the next three to four years.'
Sanjay Gulati, a resident of suburban Oshiwara, went to a protest march held outside a city court on Monday morning and had been under stress because of his deposit being stuck.
The All India Majlis-e-Ittehadul Muslimeen (AIMIM) is keen to join hands with the opposition Maha Vikas Aghadi (MVA) alliance in Maharashtra with an aim to defeat the Bharatiya Janata Party (BJP) that is currently ruling the state along with two other parties, former MP Imtiaz Jaleel has said.
The plea, filed by Delhi-based Bejon Kumar Misra, said the Centre and RBI should be directed to ensure complete insulation and insurance of the hard-earned deposited money of people in various co-operative banks, including nationalised banks, by enacting an appropriate measure of 100 per cent insurance coverage towards the deposited amount.
Despite the rating agency CARE withdrawing the ratings assigned to the bank facilities of FIPL "with immediate effect" following the receipt of a no-objection certificate (NOC) from the banks, Modi's company received uninterrupted letters of undertaking (LoUs) from PNB, which were honoured by other banks until a few weeks ago.
At present, bank depositors get an insurance cover of Rs 1 lakh on their amount by the Deposit Insurance and credit Guarantee Corporation.
Delhi faces a severe financial crunch and the deficit is largely due to numerous welfare schemes without adequate revenue flowing in. The success of welfare schemes and electoral promises will need careful financial planning and out of the box thinking to whip up additional revenue, notes Ramesh Menon.
Monetary transmission has been an issue for the Indian banking sector.
Corporation Bank is the biggest beneficiary of this round of capital infusion with Rs 9,086 crore of funding, followed by Allahabad Bank with Rs 6,896 crore.
It has been a decade since Shyam Srinivasan took over as managing director and chief executive officer at Federal Bank. He wants to ramp up the bank's unsecured lending going ahead even as it homes into the space vacated by competition. Reappointed for a fresh three-year term as the bank's helmsman, he spoke to Hamsini Karthik on the plot ahead.
When Kasturi Rajamurty won a gold medal in powerlifting at the WPPL World Cup in Russia, she sure had come a long way. From a life of penury to constantly being short of funds to fuel her passion, she had finally triumphed, and how.
Prayagraj is a must-visit place in 2025, but in January and February you can't miss the Maha Kumbh, a spectacular event like no other.
With US-based electric vehicle (EV) maker Tesla scouting for a suitable location for its foray in India, Rajasthan has joined the fray with a host of offers to woo the Elon Musk-led company. Other challengers include Gujarat, Tamil Nadu, and Maharashtra. Sources privy to the development said that an initial meeting between the senior executives of Tesla and the government of Rajasthan, which was held last week, turned out to be "quite positive." Tesla would now carry out a survey and is expected to share the survey details with the state's investment promotion department soon.
'Probably revised guidelines will come, and then the real picture will emerge.'
Wilful defaulters owe SBI Rs 80,000 crore. 10 nationalised banks are owed another Rs 1.5 trillion.
'The new ceiling will cover around 93 per cent of all deposit accounts, up from 90 per cent earlier,' notes Tamal Bandyopadhyay.
Executive directors from different banks are eligible to be promoted to the post of chairman and managing director.
The draft amalgamation scheme of Punjab and Maharashtra Co-operative (PMC) Bank with Unity Small Finance Bank (SFB) allowed quick relief to depositors with savings of up to Rs 5 lakh, but a long wait for those who had their nest egg with the scam-tainted bank. If the scheme gets approved, 96 per cent (or 880,000 of 924,000) depositors will get their full money straightaway after PMC is merged with Unity SFB. According to the draft scheme, retail investors may get up to Rs 5 lakh from the Deposit Insurance and Credit Guarantee Corporation (DICGC) instantly, and then some more in phases till they can recall their full deposits after 10 years.
One incident should not be used to generalise the health of all cooperative banks, says RBI governor Shaktikanta Das.
As part of its expansion plan to strengthen its base in North Maharashtra, Saraswat Co-operative Bank Ltd (SCBL), the largest multi-state co-operative bank in the country with a business turnover of Rs 17,000 crore, has acquired the financially troubled city-based Nashik People's Co-operative Bank (NPCB) with 14 branches.
Congress wants to change the Constitution and rob Dalits, OBCs of quota benefits for religion-based reservation, Modi said.
"I mentioned to sir (Ratan Tata) that the son of a fellow army officer was handicapped below the waist and needed a job," he told PTI from Pune where he now lives. "Vijay Bisht, son of my then colleague in M&G area HQ Lt Col B S Bisht, had sustained severe leg injuries after falling from a horse and I came to know he was looking for a job," he added. Tata said the needful would be done. And it was.
'Currently, our individual first premium would be in the Rs 3,000-Rs 3,200 crore range. We want to take that to about Rs 6,000 crore in three years.'
The 30-share Sensex closed up 34 points at 27,831 and the 50-share Nifty ended up 15 points at 8,356.
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Prior RBI permission a hurdle, given its views; business interest needs to be clearer.
'The temple's construction is the result of collective wisdom of some of the best brains in the country. Water and sacred soil from almost all pilgrimage sites in India, including Gangotri, Yamunotri, Kailash Mansarovar, Prayags (there are seven Prayags) and all 'puris' (seven holy towns in India, besides Ayodhya) have been used in the making of the temple'
The crisis at the bank is attributed to loans made to realty player Housing Development Infrastructure Ltd, which were allegedly hidden from regulators' scrutiny, turning non-performing assets.
Over 25,600 cases of banking fraud reported up to December 21, 2017, says Minister RS Prasad.
Police FIR reveals the bank had replaced 44 loan accounts of HDIL with 21,049 fictitious loan accounts. These 21,049 were actually not created in the core banking solution of the bank, but were mere entities in the advances master indent submitted to RBI for conducting its inspection for the year ended March 2018.
An advisory body of EPFO has rejected a proposal to engage private banks -- ICICI, Axis and HDFC Bank -- for collection of PF contribution from employers.
The unions also suggested banks can extend special and exclusive loans to the airline to pay the salary dues or some subsistence payments to them against proper collateral.
'Slogans like 'Ek hai toh safe hai' and 'Batenge toh katenge' resonated with voters.'
The number of active SIP accounts is nearing the 100 million milestone.
Beneficiaries of kerosene, LPG and fertiliser subsidies will be able to get direct cash transfers through banks, ATMs or even mobile banking after the UIDAI's recommendations to plug leakages in the system are implemented.
A non-strategic investor like Poonawalla brings in not only capital but also creative freedom. Indian cinema needs more investors like him, reports Vanita Kohli Khandekar.
The country's largest lender State Bank of India will get the largest sum of Rs 8,800 crore as government's capital infusion.
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