This visit has ended on a vastly different note in comparison with Modi's previous visits. Call it a rebuke, call it a censure, call it a distancing from Modi, the sharp message would have gone home, observes Ambassador M K Bhadrakumar.
CBI has registered a case against general secretary of Mumbai BJP Mohit Kamboj, his jewellery manufacturing firm Avyaan Overseas, its directors, few mid-level bankers and others for alleged diversion of funds by availing fraudulent foreign bills negotiation limit and export packaging credit limit, issued by lender Bank of India between 2013 and 2018.
Banks operating in India reported fraud of Rs 4.92 trillion as on March 31, 2021, which represents nearly 4.5 per cent of the total bank credit, showed Reserve Bank of India (RBI) data, which was sought under the Right to Information (RTI) Act by Saurabh Pandhare. The data showed 90 banks and financial institutions reported a total of 45,613 cases of loan fraud till March 31, 2021. State Bank of India - the country's largest lender - reported the highest amount of loans as fraud - Rs 78,072 crore as on March 31, 2021.
Simple takeaways from the Union Budget 2015-16 and how it impacts your life
'Now Mr Modi has been offered a more real but different kind of war, which he has likened to the Mahabharat,' notes T N Ninan.
They also inked a pact for cultural exchanges through 2018-2020.
'That is important for Modi politically when he launches a do-or-die campaign seeking a renewed mandate in the 2019 poll,' says Ambassador M K Bhadrakumar.
You can make all the speeches you want, you cannot argue against 39 straight months of slowing, observes Aakar Patel.
If you default, it will affect your credit score and your career.
'Common sense says if one can afford, servicing the loans during this period is a better bet than postponing it by three months,' says Tamal Bandyopadhyay.
"Our government does not delay decisions. We neither nurse problems nor keep them pending," Modi said.
The prime minister's gifts to the temple are estimated to cost Rs 4.09 crores!
There was buzz of Piyush Goyal being elevated to Cabinet rank but only Prakash Javadekar made the cut.
The Bharat Interface For Money app was launched on the iOS platform earlier this month. It is also available on the more popular Android platform. There have been over 17 million downloads of the BHIM app so far.
Nirav Modi, along with his wife Ami Modi, a US citizen, brother Nishal Modi, a Belgian citizen, and uncle Mehul Choksi, all accused in the CBI's FIRs in the case, left the country in the first week of January, weeks before country's biggest banking scam surfaced.
Here's what borrowers must pay attention to before going for such medical loans.
'Whatever I did, I did for the farmers and whatever I am doing, I am doing for the country'
The two sides inked nearly two dozen pacts in key areas of defence and civil nuclear cooperation after "productive" talks between Modi and Bangladesh Prime Minister Sheikh Hasina in the nation's capital.
It also opposed the suggestion that the contributions be transferred to the National Disaster Response Fund.
Earlier, Arun Jaitley had said 60 prosecutions had been launched on the 'HSBC list'.
Lenders increasingly looking at your social media profile to evaluate creditworthiness
Any defeat for the BJP now would imply that anti-incumbency against Modi has set in, says N Sathiya Moorthy.
In all, 292 allegedly fraudulent LoUs and 224 foreign letters of credit were generated and money sanctioned to Nirav Modi's companies since 2011
As many as 17 locations in Delhi, Mumbai, Hyderabad, Jaipur and Surat were raided by the ED.
He said digitisation was aimed at bringing in accountability and added that more cash would bring with it social evils.
In a bid to gain a bigger share of the customer's wallet, banks are ramping up their cross-selling initiatives.
Manoj Sinha will retain his current role in the railways.
India recorded 50,035 cases of cyber crime in 2020, an 11.8 per cent surge in such offences over the previous year, according to the National Crime Records Bureau (NCRB) data. The Reserve Bank of India (RBI) last week once again cautioned bank customers of fraud, including those in Know-Your-Customer (KYC) cases. In fact, certain frauds have become more prevalent than others, and being aware of them is the first step towards protect yourself. Mayur Joshi, chief executive officer, Indiaforensic.com, a company engaged in the prevention, detection, and investigation of frauds says, "It is necessary to learn, to read about these scams."
Aakar Patel looks forward to Prime Minister Modi's speech at the bhoomi pujan for the Ram temple in Ayodhya next week. It will be entertaining and stirring, predicts Aakar, and make lots of promises that he most likely won't be able to keep.
A UK judge presiding over the extradition proceedings of Nirav Modi on Tuesday ruled that the evidence submitted by the Indian authorities to establish a prima facie case of fraud and money laundering against the fugitive diamantaire is broadly admissible. District Judge Samuel Goozee heard the arguments for and against the admissibility of certain witness statements provided by the Central Bureau of Investigation (CBI) and Enforcement Directorate (ED) at Westminster Magistrates' Court in London and concluded that he considered himself "bound" by the previous UK court rulings in the extradition case of former Kingfisher Airlines chief Vijay Mallya. He then adjourned the case for a two-day hearing on January 7 and 8 next year, when he will hear the final submissions in the case before he hands down his judgment a few weeks later.
A corporate lawyer said that this is the biggest failure of corporate governance in this country. He pointed out that American investors can even take the bank to court for giving false statements to stock exchanges and even file class action suits. Some even questioned how RBI overlooked Kochhar's misdeed.
Rajiv Kochhar, who was asked to appear at the CBI office in Mumbai, was examined about the loan and his links with Venugopal Dhoot, the promoter of the Videocon Group, and Videocon.
The Department of Commerce alleged that Huawei was engaged in activities that are contrary to US national security or foreign policy interest.
The ED is of the opinion that the authority stepped into the shoes of the trial court and commented on the preliminary investigation done by the CBI in the impugned order.
Prime Minister Modi addressed the second plenary of the executive session, during which he reiterated India's focus on small island developing nations of the organisation and delivering 'demand-driven, rather than donor-driven' assistance to the organisation's smaller member states.
During deleveraging the income falls more than reduction in debt due to the austerity measures.
A combative Congress President Sonia Gandhi on Wednesday mounted a blistering attack on Prime Minister Narendra Modi, accusing him of running a government "of some people, by one person for a select few" and said he has not much to showcase even as the government completes one year.
The United Kingdom's home department has cleared the extradition of fugitive diamantaire Nirav Modi, who is wanted in an over Rs 13,000-crore bank fraud case, officials said on Friday.
The Sheikh Hasina-Narendra Modi summit put India-Bangladesh ties on a firmer pitch. Brigadier S K Chatterji (retd) takes stock.
The Federal Trade Commission said the defendants used phony debt collection calls from India and bogus claims that they would reduce consumers' credit card interest rates to bilk consumers.
