Explaining the modus operandi of the case, the FIR said HDIL promoters allegedly colluded with the bank management, to draw loans from the bank's Bhandup branch. Despite non-payment, the bank officials did not classify the loans as NPA and intentionally hid the information about the same from RBI.
The onus is on you to reject financial products that don't suit your needs.
The US House of Representatives averted a government shutdown on Thursday, narrowly passing a $1.1 trillion spending bill despite strenuous Democratic objections to controversial financial provisions.
While law-abiding customers are harassed for KYC and have to comply with endless paperwork even to open and close accounts, DHFL could easily open nearly 260,000 fake home-loan accounts, reveals Debashis Basu.
Olympic Silver medalist Mirabai Chani's feat is a story of grit, dedication and desire, but it isn't unique. In Manipur, discovers Vaibhav Raghunandan.
Affordable pricing, a variety of themes, and the ease of transacting are among key reasons that have made smallcases a hit among young investors.
"I never think it's helpful for anybody to speculate on what is an ongoing investigation," May said.
Use a "virtual credit card" for every online transaction when you can't pay cash on delivery.
FutureBrand, which is a global brand transformation company, said part of Reliance's success could be attributed to Mukesh Ambani's recasting of the firm as a one-stop-shop for Indians.
Sonal lived the feminist slogan: The personal is political, in a way few feminists have been able to. She will be remembered and missed for doing this not with a dour self-righteousness, but with humour and a rare joie de vivre, remembers Jyoti Punwani.
Major shareholder Kinnevik, a Swedish investment firm, devalued Quikr by 45%, referring to the exaggerated revenue resulting from fraudulent transactions that rocked the company. Quikr is now valued at about $577 million.
'Employees may well be expected to be on call at almost all times -- much like the standard Indian approach to the workday,' points out Mihir S Sharma.
Rediff.com's Syed Firdaus Ashraf traces the journey of PM-CARES from its founding to finally admitting it is not a government fund.
'No government will forego the usage of data of this order and nor will any private concern.' 'Unless, of course, there are strong safeguards to privacy.' 'Which is why that nine-member Supreme Court bench could make or mar everybody's future,' says Devangshu Datta.
Ghost beneficiaries aren't the only kind of issue companies face during a period of unprecedented CSR spending, touching nearly Rs 12,000 crore in 2018-19. Frauds related to procurement, construction, and end-use of funds have had companies engaging forensic auditors to keep tabs on how money is spent, revealed conversations with those involved in such investigations. Firms are also increasingly strengthening their own capabilities to better implement their programmes.
Given Indian corporates's high indebtedness, new credit will be used for servicing loans rather than building factories. This is setting us up for more companies on life support and more zombie banks, warns Rahul Jacob.
Subhash Chandra Garg, the former finance secretary who was shunted out of the finance ministry within three weeks of Modi-2.0 government's first budget last year, on Saturday alleged that new Finance Minister Nirmala Sitharaman got him transferred out.
Ever since India became a force to reckon with in software services, doing for clients what they want done, the big void that has been constantly talked about is its absence from the space of software products - those over which you own intellectual property rights.
Not just in the fight against COVID-19, but also in politics, economics and society, observes Ajit Balakrishnan.
'When the lockdown grounded a billion people, nothing had been planned well: Testing, masks, face shields, protective gear, medical equipment, contact tracing ... nothing.' 'Before COVID, if you didn't know that the state had neither the money, nor the intent, nor the capacity to govern wisely and humanely, you were simply blind.' 'After COVID, if we continue to look to the State, look forward to a financial package or ask "What is the government doing" when faced with a calamity, the joke is on us, says Debashis Basu.
Good intentions and elaborate roadmaps apart, there is an urgent need for the Tamil Nadu chief minister to come up with branded schemes like MGR's meal scheme, asserts N Sathiya Moorthy.
Rediff readers take the 10 year challenge and tell us how their lives have changed.
Compared to a 64 per cent penetration in Brazil (130 million users total) and 53 per cent in China (total 733 million users), India has barely 28 per cent penetration. Of the digital reach, almost 80 per cent are from affluent segments in urban areas. How can this change?
Mitron probably would have continued with the free run for quite some time, had it not come to light that the source code of the app was actually developed by a Pakistani developer, reports Neha Alawadhi.
After a 25-year stint at ICICI Bank, Mor suddenly quit as he wanted to add more value in the bigger areas of health care and financial inclusion.
With its new line-up, the firm has managed to touch the right chords, but to regain market share from the established players, Micromax will have to fight a protracted battle.
Dates like 9/11 should never be allowed to pass by forgotten because terrorism is not to be borne, inhumanity is not to borne.
Since you are betting only on a few stocks, the risks are high.
'I am not minimising either the seriousness or the complex nature of the current situation.' 'Naturally, we have to do what it takes to secure our borders.' 'We are talking to the Chinese, both through military channels and diplomatic ones.'
'In fact, they work in tandem.' 'When it comes to finding a solution, this must be predicated on honouring all agreements and understandings.' 'And not attempting to alter the status quo unilaterally.'
Failure is something that needs to be managed as carefully as success.
A national cyber crime and coordination centre meant to fend off such attacks is still awaiting approval
'The RBI has not allowed any commercial bank to fail in the past three decades.' 'It has always played the role of a matchmaker, but this is the best deal it has stitched,' notes Tamal Bandyopadhyay.
What if the digital records of a food delivery service are leaked? What if a tech-savvy gaurakshak scans those records and discovers who the beef-eaters are? What happens next? Devangshu Datta highlights the risks posed by leaks of digital databases.
Is it time to take a relook at our economic theories? asks Ajit Balakrishnan.
At Infosys and Wipro, 8,200 roles have been impacted in six months.
Deane De Menezes hopes to reduce the awkwardness and stigma around menstruation.
A month ago, on March 25, Floyd Cardoz, chef extraordinaire, passed into the ages, a victim of coronavirus. Ranjita Ganesan remembers the culinary genius.
In prior elections, not only have opinion poll forecasts been very different from the results, the error margin has increased over time. One need only look at the charts that show the Sensex half a year before and after the results day for the last six elections. The markets did not change direction in any, says Neelkanth Mishra.
If you want to keep your CIBIL Score alive and kicking (healthy) make sure you steer clear from the above mentioned common credit score killers.
A crown of thorns awaits the next telecom minister at Sanchar Bhawan as the new incumbent will have to address a host of tricky issues like industry infighting, tariffs and improving financial health of the Rs 2.3 lakh crore industry.
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