Sinha, who is steering Sebi efforts to tackle the ponzi menace, said that in regions like West Bengal and North East -- where penetration of banking services is low -- have seen a larger number of people getting trapped in illegal money pooling schemes that promise high returns.
Specific sections of the Companies Act need to be amended to empower Sebi to regulate or take penal action against an unlisted entity and its promoters for violating the insider trading and other securities norms.
The billionaire jeweller, who has fled the country, in the letter also disagreed with the loan default amount of Rs 11,400 crore and pegged the amount his companies owe to the bank at under Rs 5,000 crore.
'Embedded with the divisive regime, they administer heavy doses of the opium of religion and nationalism day in and day out,' observes Mohammad Sajjad.
Govt steps up security to check criminals seeking bank details of taxpayers
More than 60 individuals and entities, an overwhelming number of them Indians, were on Thursday charged by the Justice Department for allegedly participating in a multi-million dollar scam involving call centres based in India which conned thousands of American citizens.
The top three industries in India susceptible to economic crimes are financial services, manufacturing and professional services
Liquor baron Vijay Mallya's passport has been suspended.
A well-executed film with good performances, Sigaram Thodu is definitely worth watching.
The Reserve Bank could consider setting up of a Fraud Registry on the lines of Credit Information Bureau to check criminal activities in the financial sector.
'Just as a wave brought the BJP into power; an anti wave will blow them away.'
A Europe-like cyber security defence alliance is the need of the hour, say banking technology experts.
The poor can't withdraw their money from their bank account and other Indians live in constant fear of their money getting stolen by unscrupulous hackers, says Syed Firdaus Ashraf.
Akayed Ullah had no criminal record back home, a police official said, even as Dhaka vowed "zero tolerance" against terrorism.
Beleaguered Kerala Chief Minister Oommen Chandy, who is under attack from the Communist Party of India - Marxist-led Left Democratic Front opposition ever since the solar scam broke out in June, has got a breather after the Front called off its two-day secretariat siege on Tuesday.
The Congress said arrogance of the BJP has touched its zenith as it turned 'blind' to farm distress.
The Kerala Assembly on Thursday witnessed uproarious scenes over the solar scam with the Communist Party of India-Marxist-led Left Democratic Front opposition and ruling United Democratic Front headed by Congress coming face-to-face, leading to the adjournment of the House for the day.
India does not have a unified regulatory regime to counter Ponzi, or pyramid, schemes whose operators typically grab new deposits to meet their promise of guaranteed returns to existing savers, point out Manoj Kumar and Mayank Bhardwaj.
The banking, financial services and insurance sector was the most targeted by scamsters, says Indeevar Krishna, head, operations and customer service, Max Life Insurance
In a three-page complaint submitted to the Additional Chief Judicial Magistrate in Kochi, second accused Saritha Nair put the blame for the fraudulent dealings on the first accused Biju Radhakrishnan and actress Shalu Menon while stating that associating her name with politicians and ministers was incorrect.
Every online user must put these additional security layer in place to prevent theft of their online identities and vital information like user IDs and passwords
Maharashtra and West Bengal lead the way in bank fraud.
A large number of companies, either based out of this eastern state or having a significant presence there, are being probed for running illicit 'collective investment schemes', while penal action has already been initiated by Sebi against over 20 other entities from the region.
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.
The new norms also seek to ensure that sufficient safeguards are put in place to avoid any misuse of its new powers and the required privacy of individuals is granted while conducting search and seizure operations.
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The Reserve Bank on Monday warned lenders against outsourcing their credit processing activities to third-party entities.
Rumour has it that former Bihar chief minister Lalu Prasad had once misbehaved with Amit Khare, the then district commissioner of Chaibasa in south Bihar, in full public view. The incident was enough to enrage the strong lobby of Indian Administrative Service officers to take on the all-powerful chief minister.
Protect yourself and minimise such frauds by following these simple rules
The time is nigh for India to ensure that investment by its former citizens is encouraged by protecting their rights, says C B Patel.
Kerala Chief Minister Oommen Chandy was hurt mildly on his forehead in stone throwing by Left Democratic Front workers protesting against the solar panel scam in Kannur on Sunday.
'It made me sad that these people had to spend a minimum of 20 dirhams from the meagre 800 dirhams they get, to pray.' 'God had helped me many times in my life, it was my duty to help these people.' The incredible story of Saji Cherian.
While PNB did not name the other lenders, Union Bank of India, Allahabad Bank and Axis Bank are said to have offered credit based on letters of undertaking (LOUs) issued by PNB. Foreign bank branches too are under investigation.
Don't end up claiming tax by just referring to Section 80G. There are some sub-sections also.
Section 45 in the new Bill says no claim can be repudiated after three years of the policy being in force, even if a fraud is detected, has sent life insurers into a tizzy.
The tribunal posted the matter for further hearing in December, when it will decide whether to admit the pleas of the Raju brothers and others against Sebi order.
Fraudsters were luring gullible investors of daily returns up to Rs 75,000.
The more mud his opponents fling, the stronger Arvind Kejriwal emerges.
Don't reveal any information to strangers.
While RBI is yet to come out with a clear regulatory framework for bitcoins, which have been gaining currency across the world over the past few months, it has issued an advisory cautioning general public against use of bitcoins and other virtual currencies.
A much-vacant mall in a sleepy industrial park is all that's left of the amount allegedly owed by Mangla Shree Properties against 0.2-mt sugar deliveries
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