The Bombay high court on Friday heard prosecution and defence arguments on the applications of former ICICI Bank CEO and MD Chanda Kochhar and her businessman-husband Deepak Kochhar, challenging their arrest by the Central Bureau of Investigation (CBI) in an alleged loan fraud case, and reserved its verdict which will be delivered on Monday. The Kochhars, along with Videocon group founder Venugopal Dhoot, were arrested by the CBI late last month for their alleged roles in the case and the trio is currently in jail under judicial custody. The Kochhar couple has termed their arrest as "illegal" on the ground that no sanction was obtained prior to the CBI action as required under provisions of the Prevention of Corruption Act (PCA).
Penalty must act as a deterrent. If it is too low, it could encourage the regulated entities to lap up penalty instead of complying with the norms, suggests Tamal Bandyopadhyay.
With clouds of storm hovering over Parliament's budget session, President Pranab Mukherjee on Monday sought the "cooperation" of all MPs in the smooth conduct of legislative business but gave no indication of plans to bring changes in the controversial land acquisition ordinance.
'We try to pick up stocks early and hold onto them for the long term.' 'We are not someone who buys and sells on a daily basis.'
A team of about five CBI officials reached the PNB branch at Sector 4 Vasundhara in Ghaziabad, on the outskirts of the national capital, to execute the search, officials said.
Private sector lender ICICI Bank on Monday launched I-Express, an instant cross-border money transfer option for Non-Resident Indians (NRIs).
State-run Bank of Baroda and Oriental Bank of Commerce are among those facing scrutiny.
Based on repeated appeals from Choksi, who is wanted in the Rs 13,000 crore bank fraud in Punjab National Bank and is holed in Antigua and Barbuda after fleeing from India in 2018, the CCF removed his name from the Red Notice list in November 2022, the CBI said in a statement.
A Rs 2 health insurance scheme for rural India and a project on empowering cooperative banks through effective application of information technology -- ideas that looked at tackling such problems received the thumbs-up from the jury of the Business Standard B-school Award 2012 held here on Tuesday.
The Reserve Bank of India (RBI) is planning to introduce plastic currency notes as an experiment in five cities.
The Enforcement Directorate (ED) has begun the process of freezing at least five bank accounts of Arpita Mukherjee, the associate of arrested West Bengal minister Partha Chatterjee, where they have found at least Rs 2 crore, a senior official said on Saturday.
The Enforcement Directorate has arrested a manager of a Kotak Bank branch in New Delhi in connection with its money laundering probe in a criminal case of detection of nine alleged fake accounts with deposits worth Rs 34 crore post demonetisation.
Jaishankar also said that there is a need to take the disengagement process forward.
Foreign Secretary Vinay Kwatra on Wednesday refused to speculate on whether the G20 foreign ministers' meeting would be able to come out with a joint communique against the backdrop of widening differences between the West and Russia on the Ukraine conflict.
The suicide note also stated about "foul language" used by people associated with a cooperative society and threat by lenders (finance firms), a police officer said on Monday.
Shiv Sena chief Bal Thackeray's estranged nephew Raj Thackeray rushed to his uncle's defence on Wednesday, lambasting Maharashtra Deputy Chief Minister Ajit Pawar for criticising the Sena patriarch.
'Commerce Minister Piyush Goyal once told me that if onion prices rise we will face the flak for it across India.' 'What can farmers expect from a government which talks like a trader and only believes in (electoral) profit and loss?'
The NDB will have an initial authorised capital of $100 billion.
'By not letting bankrupt banks fail, we have discouraged ordinary folk from taking precautions while choosing their bank or at least when they hear bad news about their bank,'says S Muralidharan, former MD, BNP Paribas.
An early action to allow domestic banks to participate in the commodity markets would not only help in improving their competency but would also help in develop their trading and product development skills in commodity derivatives.
It all started with a city-based IT solutions company setting out to build a technology platform for agricultural cooperative societies that would enable provision of banking services in rural areas at just two percent extra cost compared with urban bank branches.
The Shanghai Cooperation Organisation (SCO) will hold its first in-person summit in Samarkand in Uzbekistan on Thursday after two years, shaking off Covid fears and providing a rare opportunity for all its eight heads of state to meet on the sidelines of the event to have face-to-face talks on pressing global and regional issues of common concern.
Meanwhile, the US refrained from making any comment on the move to set up the development bank aimed at reshaping the international financial system dominated by the West, saying that the details are yet to emerge.
India and China agreed during their military talks on Sunday to stay in close touch and work out a mutually acceptable solution to the "remaining issues" in eastern Ladakh at the earliest, but there was no indication of clear forward movement in ending their three-year-long border standoff.
Finance Minister P Chidambaram on Wednesday said public sector banks plan to hire 50,000 persons and open 10,000 branches in the current fiscal.
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.
Seeking the extension of police custody of Defence Research and Development Organisation (DRDO) scientist Pradeep Kurulkar, arrested on charges of providing confidential information to a Pakistani agent, the prosecution told a special court on Tuesday they have received the forensic report of devices seized from him and some images, videos and files that were deleted earlier have been retrieved now.
The existing SAARC Development Fund could be merged into the bank.
The discussions took place on the sidelines of the G20 Foreign Ministers' Meeting.
Shridhar Madhav Patankar, the brother of Thackeray's wife Rashmi, "owns and controls" Shree Saibaba Grihanirmiti Private Limited, it said.
The agency detected the fixed deposits in State Bank of India, Axis Bank and Bank of India during the questioning of several close aides of Mondal and other witnesses during its ongoing probe in the case, they said.
He was granted bail by a court in Ahmedabad.
'Farmers are like living corpses in India.'
Reliance has no illegal Swiss Bank accounts.
Chinese foreign ministry spokesperson Mao Ning told the media in Beijing on Monday that the two sides held an in-depth exchange of views on expediting the resolution of relevant issues.
The Aam Aadmi Party (AAP) claimed that Sisodia would be arrested on Monday and alleged the move was initiated in view of the forthcoming assembly elections in Gujarat where it is in a direct contest with the Bharatiya Janata Party.
Pakistan was put in the inglorious list in 2018 for its failure to check risk of money laundering, leading to corruption and terror financing.
Does the Union government or the RBI see itself as Krishna beheading Shishupal and what will constitute the 101st or indeed the past many sins for which a Sudarshan Chakra will have to be used? More importantly, what are those sins?
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