The SIT will ask the RBI for transaction details over 15 years
'When bankers are hounded by investigative agencies for credit decisions going wrong and defaulters are treated like outcasts, who will borrow money and who will lend?' asks Tamal Bandyopadhyay.
The sentence could go up to three years if the evasion exceeds Rs 50 lakh (5 million).
It has been in force since October 2011.
The EC also ordered the removal of Principal Secretary (Home) Atri Bhattacharya and Additional Director General, CID, Rajiv Kumar from their postings in West Bengal.
In some ways, Jyotiraditya parting ways with the Gandhis was similar to the saga of the Gandhis and the Bachchans, largely a story of friendship that turned sour. A fascinating excerpt from Rasheed Kidwai's The House Of Scindias: A Saga Of Power, Politics And Intrigue.
Siddharth Vashisht alias Manu Sharma, who is undergoing life term for killing model Jessica Lall in 1999, was on Wednesday granted nine days parole by the Delhi high court to appear in post graduate exams.
Many requests are pending with the Swiss authorities.
India on Friday summoned Pakistan's deputy high commissioner and lodged a strong protest against the adjournment of the ongoing Mumbai terror attack case trial in Pakistan.
The Gomti Riverfront Development project, the Agra-Lucknow Expressway, the Jai Prakash Narayan International Centre and the efforts towards the beautification of Old Lucknow are some of Akhilesh Yadav's initiatives that are the subject of investigation.
In a 7-page letter Choksi said, he was being threatened by the individuals with whom he has business relationship and due to the seizure of his assets, his employees, customers and creditors have started to show animosity towards him.
World soccer's governing body, FIFA, is expected to pass wide-ranging reforms at a Congress in Zurich next Friday, when a new president will also be elected.
A tax reforms panel, headed by finance minister's advisor Parthasarathi Shome, is considering moving away from setting fixed tax-collection targets and linking these with the changing economic scenario during the year.
Lakhs of students appear for it every year. How are you preparing for it?
The direct tax collections are likely to fall short of the revised Budget target by Rs 650 billion and, in fact, were Rs 150 billion lower than the original estimate for the fiscal
Could the Centre and the prime minister have achieved more than what they did on curbing the endemic spread through more of the Modi outreach, given his credibility and unchallenged ability to communicate with the masses, asks N Sathiya Moorthy.
Congress on Wednesday sought to demolish Sushma Swaraj's claim of helping Lalit Modi on humanitarian grounds in Lok Sabha, saying she could have done it under a legal framework and demanded response from Prime Minister Narendra Modi.
CBDT stated the searches were on a group based at Chennai and Tiruchirappalli, strictly in line with the Income Tax Act
In the first of a two-part series, Tamal Bandyopadhyay explains why the ICICI Bank's board first rushed to deny all allegations against Kochhar and then took the extreme steps against her.
Rejecting allegations of vendetta levelled against him and the United Progressive Alliance, former Finance Minister P Chidambaram on Wednesday demanded that the government should ensure that Lalit Modi returns to India to face the probe by the Enforcement Directorate on various charges, including money laundering.
'If somebody in your family listens more to your neighbour than you, then doesn't the fault lie with you also? This is what is happening in Kashmir.'
Bankers have decided to fight back against 'arbitrary arrests' and 'harassment' by probe agencies.
Heading to the third year, will Urjit Patel be busy firefighting a currency crisis? Almost no governor of the RBI managed to evade it and Patel perhaps knows it.
According to the govt, Greenpeace activist Priya Pillai cannot be allowed to travel to London as she would indulge in anti-national activities.
Released on Friday after his detention under the stringent Public Safety Act (PSA) was revoked, former chief minister Farooq Abdullah drove from his residence to nearby Hari Nivas where his son, also a former chief minister, has been held first under preventive custody since February 5 under the PSA. The two warmly embraced.
Companies think they are too big to bow before regulators.
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Officers of the rank of Joint Secretaries will also be covered under a key directive to the Central Bureau of Investigation, Central Vigilance Commission and other departments in probing corruption with the government rectifying an error 20 months after it crept into an office order.
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The notice also said service tax amounting to Rs 28.08 crore (Rs 280.8 million), in addition to education cess of Rs 56 lakh and secondary and higher education cess of Rs 28 lakh (Rs 2.8 million) for the period between October 2007 and September 2012, should be recovered from Amity under the provision to sub-section 1 of section 73 of the Finance Act.
Students, watch out for these mistakes!
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Birmingham-based Gurpreet Singh Chadda, who was doing business of sale and rent-back of homes through Red2Black Homes and B&L Homes, has also been banned from working in the British financial services industry, besides a fine of 945,277 pounds (nearly Rs nine crore), the FCA said.
This gains importance in the backdrop of speculation on a second term for Raghuram Rajan.
E-proceeding of tax scrutiny has certain technical and practical issues which need to be addressed before making the system fully electronically driven.
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Stating that there are strong inter-linkages between banks, NBFCs and other deposit-taking entities, he said for monetary policy to be effective and financial markets to remain stable, they should be regulated by the central bank.
RBI's draft guidelines prescribe that banks with a strong capital base and NPAs below 3% can become brokers.
Today, the single most popular route of laundering is the stock market platform, notes Debashis Basu.
In a significant development, Indian Railways on Thursday joined hands with China to increase speed in its existing rail network, modernise stations and enhance mutual cooperation in the sector in the country.
Signs of a possible solution to the political crisis engulfing Pakistan emerged on Tuesday with the embattled government saying it has reached an agreement with Imran Khan's party on most of their demands, except that of Premier Nawaz Sharif's ouster which it said is non-negotiable.
The government's disinvestment programme is set to get a boost this Diwali, with the finance ministry planning to hit the market to sell a five per cent stake in Steel Authority of India Ltd (SAIL) by October.
In his new role, Subbarao will take part in various activities at NUS Business School, the Institute of South Asian Studies and the Monetary Authority of Singapore.
Addressing his council of ministers in a video conference, Modi asked them to prepare business continuity plans to fight the economic impact of COVID-19 on a war footing, but also asserted that this crisis is an opportunity to boost the 'Make-in-India' initiative and reduce dependence on other countries.
