There are four first information reports against Saradha Group in which it is alleged that thousands of investors were allegedly duped by the company officials and their associates who swindled their deposits.
The vertical will be based out of Bengaluru.
Several states declared a holiday for schools, while government offices, other establishments and public sector banks remained closed for half a day.
The 47th GST Council meeting that is currently underway is slated to discuss a host of issues, including a mechanism for compensating states for revenue loss, tax rate tweaks in some items and relaxed registration norms for small online suppliers. Further, the meeting of the Council, chaired by the Union Finance Minister Nirmala Sitharaman and comprising state counterparts, will also clear levying the highest tax of 28 per cent on online games, casinos and horse racing, besides, measures to curb tax evasion, especially devising ways to tackle high-risk taxpayers in GST. "The meeting is being chaired by Hon'ble Union Minister of Finance @nsitharaman and many important decisions are expected to be taken at the meet," PIB Chandigarh tweeted.
The United Forum of Bank Unions would be holding a one-day all-India strike on January 7 followed by a four-day strike from January 21-24.
SBI unions walk out of pact saying interests not served
Official sources said all the banks, where Naik's and his organisation's accounts were in operation, have been asked to immediately freeze those till further directions.
While some states like Kerala and Telangana were badly hit by the strike, the impact was partial in Punjab, Haryana and Maharashtra
Nationalist Congress Party chief Sharad Pawar on Sunday said he has clarified his stand on the Election Commission's decision to recognise Eknath Shinde-led faction as the real 'Shiv Sena' and allocation of the 'bow and arrow' poll symbol to it, and will not get involved in the controversy over it.
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Under Indradhanush roadmap announced in 2015, the government will infuse Rs 70,000 crore in state banks over four years while they will have to raise a further Rs 1.1 lakh crore from the markets to meet their capital requirement in line with global risk norms, known as Basel-III.
Kerala's election discourse operates surreptitiously. Its explicit face focuses on important national and local issues. At the same time, it seeks to secure apt communal equations to ensure votes, notes Shyam G Menon.
There is not much bank employees can do, but some words of encouragement from the management would have helped. Stretched working hours and the tense atmosphere is taking a toll on their health.
Corporate margins and profits in India remain vulnerable to changes in crude oil prices in the international market. Historical quarterly data from listed companies (excluding banks, finance and insurance, oil and gas, and power sectors) indicate an adverse correlation between corporate margins and crude oil prices.
In both of these Hindi heartland states, the straight contest between the ruling Bharatiya Janata Party and the opposition Congress.
"Dialogue is the only solution to the ongoing crisis in Manipur," Shah said.
'In their over-enthusiasm to clean up the system, both the banks and the regulator should not forget that the key to the insolvency law is revival of companies -- recovery of bank dues is an offshoot of that,' points out Tamal Bandyopadhyay.
The talk of governance reforms at public-sector banks seems to remain on paper, as a majority of them continue to be working with just a handful board members. Half of the board seat at these banks have been vacant. Ten of the 12 public-sector banks, even large ones like Punjab National Bank, Canara Bank and Union Bank of India - all except State Bank of India (SBI) and Bank of Baroda - don't even have a chairman. In 2014, while splitting the post of chairman & managing director (CMD), the government had decided to appoint non-executive chairmen at these banks. SBI, which has an executive chairman and four managing directors, was an exception.
Head of central banks from various countries get into a 'Basel huddle' every second month at Basel at the headquarters of the Bank for International Settlement.
It further said that the loan application form should be suitably modified to incorporate passport details of borrowers.
Shah said that it is "a 3-D government in Rajasthan and three Ds stands for 'dange' (riots), 'durvyavhar' (ill-treatment) with women and 'Dalit' atrocities.
Wayanad will continue to support Rahul but not to the same extent as in 2019, when his margin of victory had been enormous. Articulate, to the point and speaking in fluent Malayalam, CPI's Annie Raja, had the people who gathered to see her, listening in rapt attention, notes Shyam G Menon.
Debt-ridden mortgage firm DHFL's shares would be delisted from stock exchanges post acquisition by Piramal Capital and Housing Finance, which has emerged as the successful bidder for the company. As part of resolution process under the Insolvency and Bankruptcy Code (IBC), lenders led by Union Bank of India in January this year favoured the bid by Piramal Capital and Housing Finance to take over the beleaguered housing finance firm. According to sources, shares of DHFL would be delisted post acquisition as per the IBC guidelines and Sebi delisting norms.
The silver lining for India's presidency is likely to be the support by almost all G20 countries to its proposal to include the African Union as a permanent member of the bloc that has emerged as perhaps the most influential multilateral forum after the United Nations.
They welcomed the guests before the start of the dinner from the reception dais, with its backdrop showcasing the ruins of the Nalanda University in Bihar besides India's G20 presidency theme -- 'Vasudhaiva Kutumbakam - One Earth, One Family, One Future'.
The committee's suggestion that existing commercial banks be allowed to hold payment banks as subsidiaries is also seen as unviable by RBI and the finance ministry.
The proposal to increase public float, hike income tax surcharge, move to tax share buybacks and lack of stimulus to shore up economic growth has hurt investor sentiment.
Employees of public sector general insurance (PSGI) companies are observing nationwide one-day strike on Wednesday to protest against intended privatisation of state-owned insurers. The Joint Front of Trade Unions in PSGI companies met on Monday and decided to protest against the decision of the government to privatise PSGI companies. The unions have given a call for one-day strike against the passage of the General Insurance Business (Nationalisation) Amendment Bill 2021 in the Lok Sabha, General Insurance Employees All India Association general secretary K Govindan said. Employees of all four PSGI companies are participating in the day-long strike, he said.
Tabled by Minister of State for Home Affairs Nityanand Rai, the legislation will reverse the effect of the Supreme Court verdict in May that gave the Delhi government power over administrative services.
Alleging that Sanatana Dharma is against equality and social justice, Dravida Munnetra Kazhagam youth wing secretary and Tamil Nadu Youth Welfare Minister Udhayanidhi Stalin has said it should be eradicated.
Under the Indradhanush roadmap announced in 2015, the government will infuse Rs 70,000 crore in state banks over four years while they will have to raise a further Rs 1.1 trillion from the markets to meet their capital requirement in line with global risk norms, known as Basel III.
A decision on the interest rate for close to 60 million active subscribers of the Employee Provident Fund Organisation (EPFO) is likely to be taken in the next Central Board of Trustee (CBT) meeting, starting on March 25. A letter from the social security organisation regarding the convening of the 233rd CBT meeting was sent to all the board members last week, soliciting their presence in the meeting. Although the venue and the agenda haven't been drawn out yet, sources familiar with the matter say that the interest rate is unlikely to go below 8 per cent level amid a rising interest rate scenario across the globe.
The five-judge constitution bench headed by Chief Justice DY Chandrachud, which heard their contentions at length, told them they will have to justify the procedure adopted for abrogation as the court cannot postulate a situation "where the ends justify the means".
Most public sector banks, flush with deposits now, offer 3-4% interest on savings deposits, while a few private sector banks go up to 6%.
Renowned women's rights activist and founder of the Self Employed Women's Association (SEWA) Ela Bhatt passed away in Ahmedabad on Wednesday due to age-related ailments, her associates said.
'China seems more intent on creating a new world order rather than shaping the existing one.' 'India is of course, at this moment in time, aligned with the West-led order because of China's full-spectrum aggressive behaviour towards India.'
The number of public holidays varies from 14 in Delhi to 34 in Odisha.
The NIA had registered three cases last year following information suggesting that terrorist outfits and their sympathisers abroad were operating as members of organised criminal gangs active in the northern states of India for targeted killings and violent criminal acts.
Merely bringing down the government stake below 51% may not find any taker for the PSBs. The government must bring down its holding to at least 26%, recommends Tamal Bandyopadhyay.
According to Muzaffarpur District Registration Officer Sanjay Kumar, the orders to freeze the bank accounts and ban the sale or purchase of any movable or immovable assets of the Seva Sankalp Evam Vikas Samiti were passed by District Magistrate Mohammad Sohail on August 7 and 8.
The government can also individually exempt the PSBs, that are to be privatisated from the two Bank Nationalisation Acts. This will bring such lenders under Banking Regulation Act, and make them companies, reports Nikunj Ohri.
