Has Vijay Shekhar Sharma given up on the bank? For now, he seems to be on a save-OCL mission. The bank will face its logical end, observes Tamal Bandopadhyay.
The finance ministry on Saturday asserted that Indian customer deposits in Swiss banks have fallen since 2019, but said it is seeking details from Swiss authorities on the relevant facts along with their view on possible reasons for changes in the funds parked by individuals and entities in 2020. In a statement, the ministry said the deposits have halved but did not give numbers. Quoting data from Switzerland's central bank, PTI had reported on June 17 that funds parked by Indian individuals and firms in Swiss banks, including through India-based branches and other financial institutions, jumped to a 13-year high of 2.55 billion Swiss francs (over Rs 20,700 crore) in 2020 on a sharp surge in holdings via securities and similar instruments, though customer deposits fell.
The Central Bureau of Investigation has arrested an Reserve Bank of India official and a JDS leader K C Veerendra, who is also a casino owner, in connection with separate cases relating to alleged illegal conversion of currency post-demonetisation.
Crores of new currency notes continue to tumble out of lockers and hidden locations as authorities conduct raids and searches across the country.
Police resorted to using tear gas and sting grenades to control the crowd gathering near Paris' Montparnasse train station.
The federal agency wants to question and record Parab's statement under the Prevention of Money Laundering Act, they said.
Tharoor argued that the proposed bill represents a "grave chapter in the history of the Indian republic, seeking to ratify an ordinance that in many ways is an assault on our democratic heritage and the spirit of federalism."
'If you are ready to stomach the loss, you may invest 3-5 per cent of your portfolio in crypto assets.' 'Of this, 80-90 per cent should be in Bitcoin.'
According to the NIPFP, there is the possibility that even if the banking system matures over time, some transactions could bypass the system so as not to pay the BTT.
Under the scheme coming into effect from April 1, 2018, a donor could purchase bonds from authorised banks against cheques or digital payments. These would be redeemed only in the designated account of a registered political party.
Rates on tax-free bonds are linked to government securities.
Maybe the new methods of measuring GDP helped us get an accurate picture.
'More a show that you are doing something in the Budget even if that something never actually comes to pass,' notes Nitin Desai.
The Income Tax raids on a Karnataka minister on Wednesday had its echo in Parliament where the protesting Congress members disrupted the proceedings
Sections in the draft Personal Data Protection Bill are a blatant violation of the Right to Privacy as guaranteed by the Constitution.
While diligent paperwork helps claim tax benefits, with employers under pressure from the government, any lapse in documentation by an employee will lead to sharp cuts in salary.
The Supreme Court has said that Cyrus Mistry's removal as executive chairman of Tata group was justified as a "a person who tries to set his own house on fire for not getting what he perceives as legitimately due to him, does not deserve to continue as part of any decision-making body".
At the time of the media maelstrom around her non-dom status, she hit back at implications that it was in some way indicative of her stronger bond with India than the UK.
The cash was neatly packed in 94 packets and envelops on which the ward number, number of voters and the amount of Rs 300 per voter was written.
"If the government wishes to target me, they should do so directly, not harass friends of my son who carry on their own businesses and have nothing to do with politics," he said in a statement shortly after reports of IT and ED searches on some premises connected with Karti's friends.
News of all that's transpired on and off the football field
Dilip Kumar Jha explains what the buyers must do to protect their own interest.
Aadhaar, says former UIDAI chairman Nandan Nilekani, has followed 'all the design principles laid by the Supreme Court.'
A senior official said CBDT has inputs that a number of these companies possibly indulged in tax crimes and once this is established, the department will initiate action against them for indulging in money laundering and tax evasion.
'Well done, Mr Jaitley, now go and implement your schemes. No leakages, no lapses and no laziness.'
BlackRock has again reduced the valuation of its share in edtech firm Byju's - this time to about $1 billion, TechCrunch reported on Friday, citing disclosures made by the US-based asset manager. This is 95 per cent less than its peak valuation of $22 billion in 2022. The markdown comes at a time when the company is facing a multitude of challenges, including securing fresh capital, delays in financial reporting and legal disputes with lenders.
Education sector has reasosn to cheer Budget.
This is perhaps for the first time the CBI raided a serving police chief of a state.
As much as 73% of total income of national political parties is unaccounted for, says Association for Democratic Rights.
The Enforcement Directorate on Thursday raided multiple locations in Maharashtra as part of a money laundering probe against state transport minister Anil Parab and others linked to alleged irregularities in a land deal in coastal Dapoli area of Ratnagiri district and other charges, officials said.
The Department refused to allow transfer of the plant till the dues claimed by the department are not remitted by the company.
Replying to a question in Rajya Sabha, Minister of State for Finance Nirmala Sitharaman said the drive against tax evasion is an ongoing process and the government has taken various steps under a multi-pronged strategy to deal with the issue of black money.
The income tax department is asked to keep names of blackmoney holders under wraps.
As real estate is about a tenth of the Indian economy, the extent of black money floating around in the sector is huge.
Real Madrid forward Cristiano Ronaldo wants to leave the club and Spain after being accused of committing tax fraud in the country, a report in Portuguese sports daily A Bola said on Friday.
Taxpayer satisfaction is a part of the matrix of key performance indicators of the administration.
With investors asking for a change in the board structure at Byju's, the edtech giant's founder and chief executive officer (CEO), Byju Raveendran, is now asking them to put $300 million into the company for more control. The company has rung up $5.8 billion from investors such as General Atlantic, Sofina, the Qatar Investment Authority, Sumeru Ventures, Vitruvian Partners, BlackRock, Chan Zuckerberg Initiative, Sequoia, Silver Lake, Bond Capital, Tencent, and Tiger Global.
BJP alleged that it was an attempt by a "grand alliance of most corrupt parties" to ensure that its "corruption" was not exposed.
Telecom operator Bharti Airtel's CEO has warned customers about rising cases of cyber-frauds, citing a recent instance of a fraudster who posed as company executive and under the guise of updating KYC form, tricked a user into revealing bank details to transfer large amount from the bank account. In an email outreach to subscribers, Gopal Vittal, CEO of Airtel urged users to be vigilant against such cases of cyber fraud that are becoming "alarmingly frequent". Vittal spoke of a recent case where a cyber-fraudster posing as company executive called up an Airtel customer on the pretext of updating his Know Your Customer (KYC) form, tricked him into revealing his bank details and transferred a large sum of money from his bank account.
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