News for 'Financial Conduct Authority'

Draft rules propose doctors disclose income from pharma companies

Draft rules propose doctors disclose income from pharma companies

Rediff.com8 Jun 2022

Defining "modern medicine" for the first time, the National Medical Commission (NMC), in its code of conduct, has introduced a major change, proposing the use of "Med Dr" as a prefix for those registered under the NMC Act, 2019, as practitioners of modern medicine.

Finding Aaron: A Lost-And-Found Miracle

Finding Aaron: A Lost-And-Found Miracle

Rediff.com31 May 2023

John and Tamilarasi had their newborn stolen eight years ago, and lost all hope of ever finding him. Now they have got him back, though not fully. Not yet.

Videocon insolvency: Lenders make U-turn, want fresh bids

Videocon insolvency: Lenders make U-turn, want fresh bids

Rediff.com20 Sep 2021

After getting rapped for accepting Vedanta group's bid that would give just 5 per cent of their outstanding loans, lenders to Videocon Industries on Monday approached the insolvency appellate tribunal NCLAT seeking fresh bids for the debt-laden consumer durable firm. Billionaire Anil Agarwal's Twin-Star Technologies had offered Rs 2,962 crore to takeover Videocon Industries, which was 4.15 per cent of the admitted claims of Rs 64,838.63 crore of lenders. SBI, the leading lender of Videocon Industries, has approached the National Company Law Appellate Tribunal (NCLAT) requesting for a rebidding of the 13 companies of the debt-ridden group, on account of strong observations against Rs 2,962 crore takeover bid by Anil Agarwal's Twin Star Technologies.

DHFL case: Auditor flags fake deals worth Rs 12,705 cr

DHFL case: Auditor flags fake deals worth Rs 12,705 cr

Rediff.com28 Sep 2020

This pertains to certain irregularities in loan disbursements towards the development of two Slum Rehabilitation Authority projects undertaken by the company in the past.

Telecom ministry has a plan to combat tele frauds, pesky calls

Telecom ministry has a plan to combat tele frauds, pesky calls

Rediff.com15 Feb 2021

The telecom ministry will set up an intelligence unit and a consumer protection system as part of continuing efforts to tackle the menace of pesky calls as well as to take strict action against financial frauds perpetrated using telecom resources.

Raut got Rs 1 cr as proceeds of crime: ED; court remands him till Aug 4

Raut got Rs 1 cr as proceeds of crime: ED; court remands him till Aug 4

Rediff.com1 Aug 2022

A special court in Mumbai on Monday remanded Shiv Sena leader Sanjay Raut to the custody of the Enforcement Directorate (ED) till August 4 in a money laundering case.

Jacqueline overlooked Sukesh's criminal past and continued fin deals: ED

Jacqueline overlooked Sukesh's criminal past and continued fin deals: ED

Rediff.com31 Aug 2022

The charge sheet also claimed Fernandez consciously chose to overlook Chandrashekhar's criminal past and continued to indulge in financial transactions with him and both were working in collusion.

Mumbai's COVID-19 case count drops below 10,000 after 2 days

Mumbai's COVID-19 case count drops below 10,000 after 2 days

Rediff.com8 Apr 2021

The COVID-19 recovery rate in Mumbai has gone down to 80 per cent, according to the BMC.

How India Saved More Than 100,000 Lives

How India Saved More Than 100,000 Lives

Rediff.com15 Mar 2023

The vaccination drive was only one important part of India's globally recognised pandemic management and response strategy, observes Dr Vinod K Paul.

Omicron: Beijing shuts metro stations, schools; to test 21 mn people daily

Omicron: Beijing shuts metro stations, schools; to test 21 mn people daily

Rediff.com4 May 2022

Beijing reported 53 new COVID-19 cases in the last 24 hours, taking the total to over 500 cases as the capital continues enforcing strict anti-virus measures and postponed school reopening for a week as a precautionary measure.

ED attaches assets worth over Rs 757 cr of Amway India

ED attaches assets worth over Rs 757 cr of Amway India

Rediff.com18 Apr 2022

The Enforcement Directorate (ED) has attached assets worth over Rs 757 crore of one of the country's most known multi-level marketing (MLM) and direct-selling companies, Amway India, as part of a money-laundering investigation. The central agency issued a statement on Monday, alleging that the company was perpetrating a "scam" by running a pyramid "fraud" in the guise of direct-selling MLM network. "The entire focus of the company is about propagating how members can become rich by becoming members. There is no focus on the products. "Products are used to masquerade this MLM pyramid fraud as a direct-selling company," the ED alleged.

ED raids activist Harsh Mander's premises in Delhi

ED raids activist Harsh Mander's premises in Delhi

Rediff.com16 Sep 2021

Sources said his residence and NGO offices located in south Delhi's Vasant Kunj, Adchini and Mehrauli areas are being searched under the provisions of the Prevention of Money Laundering Act (PMLA).

How the blockchain can transform the financial world

How the blockchain can transform the financial world

Rediff.com12 Jul 2016

The blockchain, the public ledger that tracks every bitcoin transaction, is changing commerce as we know it, says Devangshu Datta.

ED raids ex-Karnataka minister Roshan Baig in Rs 4000 cr scam

ED raids ex-Karnataka minister Roshan Baig in Rs 4000 cr scam

Rediff.com5 Aug 2021

Officials said multiple premises of Baig and his associates are being raided by the agency under the provisions of the Prevention of Money Laundering Act

106 PFI members from 15 states held in mega NIA crackdown

106 PFI members from 15 states held in mega NIA crackdown

Rediff.com22 Sep 2022

The raids, taking place mainly in South India, was termed by the NIA as the 'largest ever' investigation process 'till date'.

On 9/11 anniv US sanctions over 2 dozen terrorists in Pakistan

On 9/11 anniv US sanctions over 2 dozen terrorists in Pakistan

Rediff.com11 Sep 2019

Utilising a new executive order signed by President Donald Trump, issued on the eve of the 9/11 anniversary, the treasury department sanctioned over two dozen individuals and entities from 11 terrorist groups, including Pakistan-based Tehrik-e-Taliban Pakistan.

Rahul Could Become Central to Anti-BJP Politics

Rahul Could Become Central to Anti-BJP Politics

Rediff.com27 Mar 2023

Anti-Congress regional parties may have felt the possible impact of Rahul's South-North yatra, pending a second East-West padayatra, observes N Sathiya Moorthy.

SC asks Mumbai civic bodies to decide Sonu Sood's plea

SC asks Mumbai civic bodies to decide Sonu Sood's plea

Rediff.com5 Feb 2021

Sood, who was in the limelight for helping migrants reach their homes during the lockdown last year, had stated in his plea that his application for conversion has been approved by the Municipal Commissioner subject to Maharashtra Coastal Zone Management Authority permission.

Indian-origin realty broker fined 1 million pounds in UK

Indian-origin realty broker fined 1 million pounds in UK

Rediff.com19 Jun 2013

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.

Kerala moves SC against decision to lease airport to Adani

Kerala moves SC against decision to lease airport to Adani

Rediff.com24 Nov 2020

Seeking an interim stay of the high court's verdict, the plea filed through lawyer C K Sasi said that it has challenged the 'arbitrary and illegal action' of the Airports Authority of India in attempting to prefer a particular private concessionaire, Adani Enterprises Ltd, for the operation, management and development of Thiruvananthapuram International Airport.

RBI allows fintech cos to set up regulatory sandbox

RBI allows fintech cos to set up regulatory sandbox

Rediff.com13 Aug 2019

The RS allows the regulator, innovators, financial service providers and customers to conduct field tests to collect evidence on the benefits and risks of new financial innovations, while carefully monitoring and containing their risks.

Can't accept Amazon offer until legally viable: Future's ind directors

Can't accept Amazon offer until legally viable: Future's ind directors

Rediff.com24 Jan 2022

Future Retail's independent directors had last week asked Amazon if it was willing to give a long-term loan to avoid default on repayment of Rs 3,500 crore loan due on January 29. Amazon replied to that saying it was willing to financially assist Future Retail through the Samara Capital deal but the retailer must shelve Rs 24,713 crore deal with the Reliance group.

Pranab, Modi, Demonetisation

Pranab, Modi, Demonetisation

Rediff.com8 Nov 2022

'Modi had not discussed demonetization with me prior to his announcement on 8 November 2016. 'I learnt of it along with the rest of the country. 'I was not surprised when he did not discuss the issue with me prior to making the public announcement. 'It fitted in with his style of making dramatic announcements.' A fascinating excerpt from Pranab Mukherjee's The Presidential Years: 2012-2017.

BEWARE! Fraud Journals On The Rise

BEWARE! Fraud Journals On The Rise

Rediff.com27 Nov 2021

Cloned journals have become more rampant in the post-pandemic world.

Free COVID-19 tests at pvt labs only for poor: SC

Free COVID-19 tests at pvt labs only for poor: SC

Rediff.com13 Apr 2020

The court said it was conscious of the fact that framing of the scheme and its implementation were in the government's domain who are the best experts in such matters.

Doesn't RBI regret giving banking licences to Ramesh Gelli and Rana Kapoor?

Doesn't RBI regret giving banking licences to Ramesh Gelli and Rana Kapoor?

Rediff.com22 Dec 2021

Isn't it time to review the 'fit and proper' criteria for banking licence, particularly with reference to individuals applying for it, asks Tamal Bandyopadhyay?

Bank guard in UP shoots customer for not wearing a mask

Bank guard in UP shoots customer for not wearing a mask

Rediff.com25 Jun 2021

A security guard posted at the Station Road branch of Bank of Baroda in Bareilly on Friday allegedly opened fire at a customer who was trying to force his way inside without a mask, the police said.

SC orders fresh norms for providing ex gratia to kin of Covid victims

SC orders fresh norms for providing ex gratia to kin of Covid victims

Rediff.com1 Jul 2021

The Supreme Court on Wednesday directed the National Disaster Management Authority (NDMA) to issue fresh guidelines for providing minimum standards of financial help to families of those who lost their lives to COVID-19.

For govt job, J-K now wants CID verification, details of in-laws

For govt job, J-K now wants CID verification, details of in-laws

Rediff.com22 Jun 2021

As per the comprehensive format devised by the government, the selected candidates, besides being asked to provide information about themselves, their family members, including in-laws, have to provide information about the mobile numbers used during the last five years, the registration number of vehicles owned or used, email and social media or web-based portal accounts, in addition to bank and post office account numbers among others.

Pak fails to implement 25 of 27 FATF action points

Pak fails to implement 25 of 27 FATF action points

Rediff.com16 Jun 2019

With this, multilateral lenders like the International Monetary Fund, the World Bank and the European Union may continue downgrading Pakistan, making its financial situation more precarious.

Attempt to stifle independent journalism: Newslaundry, Newsclick on tax 'survey'

Attempt to stifle independent journalism: Newslaundry, Newsclick on tax 'survey'

Rediff.com11 Sep 2021

The tax department surveyed the office of the news portal located at Sarvodaya Enclave in south Delhi on Friday along with that of another digital news platform Newsclick in Saidulajab area (south Delhi) on charges of alleged tax evasion.

Has UP fudged Covid data?

Has UP fudged Covid data?

Rediff.com28 May 2021

I believe that UP has been doing this consistently -- of grossly under-reporting the Covid-positive cases. Nothing else explains the glaring differences in UP's positivity rates versus other badly affected states, says Omkar Goswami.

SHOCKING! Army's $190m ammo languishes in Russia

SHOCKING! Army's $190m ammo languishes in Russia

Rediff.com16 Oct 2020

This is causing a shortfall of critical ammunition within the army at a time when the MoD is making emergency purchases from the global arms market to cater for a possible clash with China.

Hopeful of launching Covovax by Oct: Adar Poonawalla

Hopeful of launching Covovax by Oct: Adar Poonawalla

Rediff.com6 Aug 2021

On production capacity of Covishield, the vaccine being manufactured and supplied by Serum in India under a licensing agreement with Oxford and AstraZeneca, he said the present capacity is 130 million doses per month and always try to increase it further.

Cyclone Tauktae: Death toll in Gujarat goes up to 79

Cyclone Tauktae: Death toll in Gujarat goes up to 79

Rediff.com21 May 2021

As many as 79 people have lost their lives in incidents related to cyclone Tauktae in different parts of Gujarat, officials said on Thursday as the authorities carried out restoration work in affected areas and launched damage assessment exercise.

ED issues fresh summons to Raut as he sought more time to appear

ED issues fresh summons to Raut as he sought more time to appear

Rediff.com28 Jun 2022

The Enforcement Directorate (ED) has issued fresh summons to Shiv Sena MP Sanjay Raut asking him to appear on July 1 for questioning in a money laundering case linked to the re-development of a Mumbai 'chawl' and other related financial transactions involving his wife and friends, officials said.

Why Has RBI Scrapped Polymer Currency Notes Idea?

Why Has RBI Scrapped Polymer Currency Notes Idea?

Rediff.com9 Mar 2022

The RBI has shelved its plan for polymer notes more than a decade after it invited interest from global manufacturers for one billion pieces of Rs 10 denomination polymer banknotes, reveals Tamal Bandyopadhyay.

'India is going the Chinese way with new IT rules'

'India is going the Chinese way with new IT rules'

Rediff.com27 May 2021

Information technology industry veteran V Balakrishnan on Thursday criticised the new digital rules, alleging that they appear to be unduly compromising the privacy right of citizens. The two key issues with the new IT rules relate to user privacy, which is a fundamental right, and the oversight mechanism lying fully with the executive arm of the government, said the former chief financial officer of Bengaluru-headquartered IT major Infosys Ltd.

Why China Is Worried About Hong Kong

Why China Is Worried About Hong Kong

Rediff.com7 Apr 2022

'Although Hong Kong weathered many a storm and displayed a remarkable resilience to bounce back, the developments in the territory have raised question marks with regard to its future stability and prosperity.' A revealing excerpt from Rup Narayan Das's Hong Kong Conundrum: Pangs of Transition.

Pak failed to stop LeT, JeM funds, recruiting: US

Pak failed to stop LeT, JeM funds, recruiting: US

Rediff.com2 Nov 2019

The US State Department, in its Congressional mandated annual Country Reports on Terrorism for the year 2018, on Friday said even though the Pakistani government voiced support for political reconciliation between the Afghan government and the Taliban, it did not restrict the terror group and the Haqqani Network from operating in Pakistan-based safe havens and threatening the US and Afghan forces in Afghanistan.