The ED slapped criminal charges of money laundering on the basis of the Mumbai Police FIR that was filed in August this year, which itself was filed on the basis of a similar complaint by the state economic offences wing.
The central bank filed an affidavit in response to a petition filed by Kochhar last month, challenging her ouster as the chief executive and managing director of ICICI Bank months after she voluntarily left the private sector lender. The bank, while terminating her employment, also denied her remuneration and rescinded the bonuses and stock options given to her from April 2009 to March 2018. She was accused of playing a role in grant of out-of-turn loans of Rs 3,250 crore to Videocon Group, which allegedly benefited her husband, Deepak Kochhar.
The top boss of the I-T department said that till now, the taxman has attached 621 properties, including some bank accounts, and the total amount involved in these cases, being probed under the Benami Transactions Act, is about Rs 1,800 crore.
K V Chowdary, who is set to take over as the new Chief Vigilance Commissioner on Tuesday said he has full respect for both Prashant Bhushan and Ram Jethmalani, who have opposed his appointment to the top post in the country's apex anti-corruption watchdog.
Women dominate Indian banks's clerical and officer rolls, but few make it to the executive office these days, notes Tamal Bandyopadhyay.
India is among 120 countries which backed the draft resolution put forward by the European Union and several other countries.
The new scheme came into effect on Thursday. However, even after a scrutiny assessment, appeals will continue to be done through personal representation.
Income tax officials have directed property dealers and registration authorities to prepare a list of top property deals that have taken place in the last three years.
A senior official with Muthoot Finance said the group would also want to apply for a universal licence.
The absence of criminal legal treaties between India and tax haven nations have been cited by probe agencies working in the SIT on black money as one of the major impediments in initiating steps to bring back illegal funds stashed abroad by Indians.
'With the top court's judgment declaring the Right to Privacy a Fundamental Right, the powers under the provision need to be looked afresh.' 'To utilise such sweeping powers in the right manner will also be a challenge.'
The meeting came amid a face-off between the central bank and the finance ministry over issues ranging from appropriate size of reserves that RBI must maintain to ease of lending norms to step up growth in an election year.
The court granted bail to Rabri and Tejashwi Yadav in the CBI case on a personal bond of Rs 1 lakh and a surety of a like amount.
Duvvuri Subbarao recounts how his tensions with P Chidambaram and Pranab Mukherjee, then finance ministers, over monetary policy spilled over into other issues in the central bank in this excerpt from Who Moved My Interest Rate?, his memoir of his term as Reserve Bank of India governor.
India, Taiwan and countries with large numbers of Tibetans, Uyghurs and overseas Chinese will be prominent among those that witness elevated United Front activity, notes Jayadeva Ranade, the distinguished China expert and retired RAW officer.
The finance ministry is not only keen to split the roles of CMD, but also wants to appoint them for a fixed tenure of five years.
Besides PESB selected chairman designate B Ashok (currently Executive Director retail sales in IOC) having no board experience, the case for extending Butola's service is more compelling because all the other six directors on board of the nation's largest oil firm are retiring in next one year.
The diamond merchant wanted in India on charges of fraud and money laundering in the estimated $2-billion Punjab National Bank scam case, lost his legal battle against extradition as a UK judge ruled that he does have a case to answer before the Indian courts.
GST will now apply to mutual funds, loan instalments and credit card dues.
Economic Affairs Secretary Subhash Garg is the finance ministry's primary liaison with the RBI.
P Chidambaram's son Karti was arrested on February 28 at the Chennai airport on his return from the United Kingdom, for his alleged role in facilitating Foreign Investment Promotion Board clearance for INX Media Ltd. and its directors, Peter and Indrani Mukerjea.
Securities and Exchange Board of India (Sebi) chairman Ajay Tyagi on Thursday defended the recent reforms announced by the regulator, such as peak margin norms and shortening of the trade settlement cycle, saying they were in the interest of investors. The moves were criticised by the broking community and the foreign portfolio investors (FPIs). Speaking to the media after his inaugural address at the CII Financial Markets Summit, Tyagi said: "The new peak margin norms are in everyone's interest.
The pilot of the MMTS train was trapped in his cabin, which was badly mangled, and efforts were on to rescue him, they said.
As the Tata group inches closer to taking over Air India in January 2022, the $242-billion conglomerate will also inherit a stake in Kerala's Cochin airport. The Tatas would become the only airline to have an operational stake in a major Indian airport. The airport is a strategic hub connecting India to Middle East nations - home to the largest share of Indian migrant workers. In addition to Air India and Air India Express, private carrier Indigo also uses Cochin to ferry the lucrative 'Malayali Gulf traffic' to multiple locations like Jeddah, Riyadh, Sharjah, Dubai, Abu Dhabi, Doha, Kuwait and Bahrain, among others. According to regulatory filings, Air India has a three per cent stake in Cochin International Airport.
'It is our right to protest and draw the attention of this government, which is sleeping and appears blind, as it has failed to see the pain and struggle of the jobless youth.'
Jammu and Kashmir Director General of Police Dilbag Singh told PTI that preliminary information from the scene suggests there was a minor altercation among some young boys, and within seconds, there was a stampede situation.
The sleuths of the department seized over Rs 4 crore in new currency, mostly in denomination of Rs 2000, some notes of Rs 100, demonetized notes of Rs 500 and a few gold biscuits
As per the RBI directions to PMC Bank, withdrawals have been capped at Rs 1,000 per account and the bank is not allowed to make any fresh loans.
In 2010, ministry told its officers nominated on PSB boards to stay away from big-loan panels; central bank followed suit.
The BJP said it is legal with adequate safeguards and in the interest of national security..
The ED was investigating the case for the alleged contravention of the Foreign Exchange Act (FEMA) in transferring over Rs 243 crore out of the country to host the 2009 IPL in South Africa.
Indo-Tibetan Border Police director general S S Deswal said that the force is putting together the manpower for the facility that was first operationalised in June-July last year when COVID-19 cases in Delhi were witnessing a steep rise.
To address the supply crunch, CII has suggested leveraging the existing excess capacity in the Indian industry; rolling back import duty hike to look for alternative sources of imports; expanding credit to manufacturing units with quick loan sanctions, and one-time emergency waiver of non-performing asset regulations for three months.
Thousands of migrants were stranded in places across the country since the lockdown was enforced on March 25, many even attempting to walk home.
With the arrest of the film censor board's CEO on charges of demanding bribes to clear films, the regulatory role of the panel is in focus once again
PSBs were required to bring down government shareholding to at least 75 per cent, to comply with the amended Securities Contract (Regulations) Rules by August 2017.
Special Investigation Team on black money will hold a meeting.
The World Health Organisation team's visit has become a bone of contention as Beijing, which questions the widely-held view about the virus' origins in Wuhan, had delayed granting permission to it.
The bench on October 16 had reserved the judgment after marathon hearing of 40 days.
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