News for 'Letter of Credit'

PNB fraud: CBI questions Allahabad Bank CEO

PNB fraud: CBI questions Allahabad Bank CEO

Rediff.com27 Feb 2018

She was the managing director and the CEO of PNB since August 14, 2015 before being appointed in Allahabad Bank on May 6, 2017.

PNB appoints forensic auditor for NiMo-Choksi fraud case

PNB appoints forensic auditor for NiMo-Choksi fraud case

Rediff.com1 Mar 2018

PNB issued a formal appointment letter to Belgium-based consultancy firm BDO

Nirav Modi remanded in custody till July 9 by UK court

Nirav Modi remanded in custody till July 9 by UK court

Rediff.com11 Jun 2020

The 49-year-old jeweller, who has been lodged at Wandsworth Prison in south-west London since his arrest in March last year, appeared via videolink for the remand hearing at Westminster Magistrates' Court in London.

Cyrus Mistry: The Wise Young Owl

Cyrus Mistry: The Wise Young Owl

Rediff.com9 Sep 2022

'Cyrus was always very different. He would think before acting.'

Gangubai Kathiawadi Review

Gangubai Kathiawadi Review

Rediff.com25 Feb 2022

Something in Alia has surely changed after Gangubai. Her entire performance is about proving to herself and not to the world what she can do, feels Sukanya Verma.

Economy requires Rs 4.5 lakh crore fiscal support: Ficci to FM

Economy requires Rs 4.5 lakh crore fiscal support: Ficci to FM

Rediff.com11 May 2020

also made a case for the need to create a self-sufficiency fund for innovation, construction and manufacturing clusters to make use of the emerging opportunities in the wake of disruption in global supply chain.

Football clubs, players, strike pay deals for coronavirus lull

Football clubs, players, strike pay deals for coronavirus lull

Rediff.com3 Apr 2020

With sports events around the world suspended because of the coronavirus pandemic, football clubs and leagues have been discussing pay cuts with players to help them make it through the crisis.

Nirav Modi extradition case: UK judge admits CBI, ED evidence

Nirav Modi extradition case: UK judge admits CBI, ED evidence

Rediff.com3 Nov 2020

A UK judge presiding over the extradition proceedings of Nirav Modi on Tuesday ruled that the evidence submitted by the Indian authorities to establish a prima facie case of fraud and money laundering against the fugitive diamantaire is broadly admissible. District Judge Samuel Goozee heard the arguments for and against the admissibility of certain witness statements provided by the Central Bureau of Investigation (CBI) and Enforcement Directorate (ED) at Westminster Magistrates' Court in London and concluded that he considered himself "bound" by the previous UK court rulings in the extradition case of former Kingfisher Airlines chief Vijay Mallya. He then adjourned the case for a two-day hearing on January 7 and 8 next year, when he will hear the final submissions in the case before he hands down his judgment a few weeks later.

Nirav Modi's fate in extradition case to be sealed soon

Nirav Modi's fate in extradition case to be sealed soon

Rediff.com2 Nov 2020

The 49-year-old jeweller, fighting extradition in the estimated $2-billion Punjab National Bank (PNB) scam case, will appear via videolink from Wandsworth Prison in south-west London for the latest hearing in the case, during which District Judge Samuel Goozee will hear his defence team's arguments against the admissibility of certain evidence provided by the Central Bureau of Investigation (CBI) and Enforcement Directorate (ED) in order to establish a prima facie case against the accused.

Chanda Kochhar contests bonus clawback, ESOP termination

Chanda Kochhar contests bonus clawback, ESOP termination

Rediff.com20 May 2019

Until June 2018, the ICICI Bank board had given a clean chit to Kochhar with full backing and had said there was no question of favouritism, nepotism or conflict of interest on her part in granting loans to Videocon Industries or any other company. However, the stance changed soon after the regulatory and probe agencies initiated enquiry in the matter.

Will Amarinder, Akalis, BJP come together in Punjab?

Will Amarinder, Akalis, BJP come together in Punjab?

Rediff.com13 Oct 2021

The BJP's vote share in Punjab has been declining -- 8.21 per cent in 2007 to 7.13 per cent in 2012, and finally to 5.4 per cent in 2017, when it won just three of 23 seats the party contested. So doing an election deal with Amarinder and a political formation he might float in the future is not inconceivable.

Was Nirav Modi tipped off?

Was Nirav Modi tipped off?

Rediff.com7 May 2021

'One cannot avoid speculating whether there was something else at play that led to the uncovering of this saga.'

Saddled with unsolicited loans, cards? Here's help!

Saddled with unsolicited loans, cards? Here's help!

Rediff.com11 Mar 2015

In July 2013, RBI warned banks against sending unsolicited cards.

Nirav Modi's siblings face CBI, ED action

Nirav Modi's siblings face CBI, ED action

Rediff.com10 Sep 2018

Both Purvi Deepak Modi and Neeshal Modi are accused in the $2-billion scam allegedly orchestrated by their elder brother Nirav Modi and uncle Mehul Choksi in Punjab National Bank, they said.

'I have failed drastically in a few films'

'I have failed drastically in a few films'

Rediff.com1 Sep 2020

'I am not a future guy.' 'I just owe it to my audience here.' 'I never want them to wonder why this guy did this role.' 'Even for my bad films, I want them to think that he was trying at least.'

COVID-19: Govt bans export of anti-malarial drug

COVID-19: Govt bans export of anti-malarial drug

Rediff.com25 Mar 2020

Indian Council of Medical Research Director General Balram Bhargava had on Monday recommended the use of hydroxychloroquine for treating healthcare workers handling suspected or confirmed coronavirus cases.

Gujarat pharma hub hit by near-zero exports

Gujarat pharma hub hit by near-zero exports

Rediff.com15 Apr 2020

With the government asking the companies to operate with only 50 per cent staff strength, and exports dipping to almost zero, the truck and bus drivers idling at the petrol pump say they hardly have any work now. At a petrol pump on the deserted Bavla-Changodar highway near Ahmedabad in Gujarat, several trucks and buses are neatly parked in a row.

Judicial interventions to nudge executive and not to usurp power: CJI

Judicial interventions to nudge executive and not to usurp power: CJI

Rediff.com26 Nov 2021

Observing that Laxman rekha of separation of power is 'sacrosanct,' Chief Justice of India N V Ramana Friday said at times courts are compelled to intervene in the interest of justice and the intention is to nudge the executive, and not to usurp its role and they should not be projected as judiciary targeting another institution.

LVB to become DBS Bank India from Nov 27; Rs 25,000 withdrawal restriction to go

LVB to become DBS Bank India from Nov 27; Rs 25,000 withdrawal restriction to go

Rediff.com25 Nov 2020

The Reserve Bank on Wednesday said the amalgamation of Lakshmi Vilas Bank with DBS Bank India will come into force from November 27 and the moratorium imposed on the crisis-ridden lender will be removed on that day. The RBI issued the statement within hours of the Cabinet clearing the Scheme of Amalgamation of Lakshmi Vilas Bank Limited (LVB) with DBS Bank India Limited (DBIL).

PNB fraud hits banks' loan disbursal to India Inc

PNB fraud hits banks' loan disbursal to India Inc

Rediff.com14 Mar 2018

With the management of most State-owned banks hardly having time to concentrate on big-ticket business, growing the business of loan disbursals has been pushed down the priority order.

Legendary coach Santoso to work with Sindhu, Saina and Srikanth ahead of Olympics

Legendary coach Santoso to work with Sindhu, Saina and Srikanth ahead of Olympics

Rediff.com28 Feb 2020

Indonesian coach Agus Dwi Santoso has been roped in to guide the singles players -- both men and women -- ahead of Tokyo Olympics. Badminton Association of India (BAI) secretary, Ajay Singhania said the visa process has started and Santoso is likely to join the Indian team in the mid of next month.

How Parrikar Broke the Rafale Logjam

How Parrikar Broke the Rafale Logjam

Rediff.com23 Jul 2021

'It was Parrikar's sharp insights into finance and international systems that stood out when India --at his suggestion -- decided to procure the Rafale combat jets from France.'

SC to examine ED's power to attach ancestral assets in PMLA cases

SC to examine ED's power to attach ancestral assets in PMLA cases

Rediff.com11 Oct 2021

The Supreme Court has agreed to examine the legal issue of whether the Enforcement Directorate can attach ancestral properties of the accused under the Prevention of Money Laundering Act as 'proceeds of crime.'

Bank liable for fraudulent card transactions

Bank liable for fraudulent card transactions

Rediff.com8 Jan 2021

Consumer activist Jehangir B Gai explains a RBI circular that says the customer is not liable for unauthorised transactions that occur due to contributory fraud, negligence, or deficiency on the bank's part.

PNB likely to face teething problems while upgrading system

PNB likely to face teething problems while upgrading system

Rediff.com19 Feb 2018

Upgradation to the new product (from Infosys) will stabilise by this month-end

CBI lodges fresh FIR against Nirav Modi, approaches Interpol

CBI lodges fresh FIR against Nirav Modi, approaches Interpol

Rediff.com17 Feb 2018

The agency on Friday also carried out searches on the premises of the Gitanjali Group at 20 places in Mumbai, Pune, Surat, Jaipur, Hyderabad and Coimbatore.

Maara review

Maara review

Rediff.com12 Jan 2021

Madhavan doesn't try to be Charlie, and makes Maara stand out like a fresh film, feels Divya Nair.

Why should RBI be answerable to SC, asks Deepak Parekh

Why should RBI be answerable to SC, asks Deepak Parekh

Rediff.com3 Jul 2020

The chairman of mortgage giant HDFC Ltd in his annual letter to shareholders, also suggested a one-time restructuring of real estate loans, easing of external commercial borrowing rules and immediate changes in regulations to allow end-to-end execution of housing loans online.

Home loan rejected? Here's hope!

Home loan rejected? Here's hope!

Rediff.com8 Sep 2015

A six-point checklist to follow when lenders reject your home loan application.

CBDT alarmed as direct tax collection is way behind target

CBDT alarmed as direct tax collection is way behind target

Rediff.com28 Mar 2019

CBDT asks for urgent action, especially with respect to recovery of arrears and current demand, to achieve the collection target.

NIA searches Akhil Gogoi's house, seizes papers

NIA searches Akhil Gogoi's house, seizes papers

Rediff.com26 Dec 2019

The activist, who advises various farmer organisations, was arrested when Assam was witnessing widespread protests against the Citizenship (Amendment) Act.

'Why is Kangana snatching the hard earned work of a writer?'

'Why is Kangana snatching the hard earned work of a writer?'

Rediff.com17 May 2017

Writer Apurva Asrani slams Kangana Ranaut for staking a claim to writing Simran's story.

Rajnath Singh's Strategic Restraint

Rajnath Singh's Strategic Restraint

Rediff.com2 Nov 2021

With the role of the venerable elder thrust on him in UP, Mr Singh has had to attune himself to the politics at the Centre, observes Aditi Phadnis.

A pre-approved loan does not mean bank will lend

A pre-approved loan does not mean bank will lend

Rediff.com27 Nov 2012

Banks send these mails simply as a marketing exercise. It neither reflects your loan eligibility nor ensures lower interest.

Priyanka terminates contract with Nirav Modi's brand

Priyanka terminates contract with Nirav Modi's brand

Rediff.com23 Feb 2018

The actor had appeared in the a TV commercial for the brand along with Sidharth Malhotra.

'Govt banks rarely take note of RBI directives'

'Govt banks rarely take note of RBI directives'

Rediff.com20 Jun 2018

'For years, the RBI has been warning banks on probable frauds in bank guarantees and advised them to exercise due care.' 'PSB staffers feel their jobs are secured, hence there is no need to be vigilant and exercise financial prudence.'

Read your CIBIL Report like a pro

Read your CIBIL Report like a pro

Rediff.com23 Oct 2015

Some simple tips can help you in better understanding of your CIBIL Report.

Nirav Modi's remand extended till Feb 25

Nirav Modi's remand extended till Feb 25

Rediff.com5 Feb 2021

Wanted diamond merchant Nirav Modi appeared via videolink from his London prison for a regular call-over hearing at Westminster Magistrates' Court on Friday, when he was further remanded in custody until February 25, when the judgment in his extradition case is to be handed down. District Judge Angus Hamilton informed Modi that he would most likely be appearing again via videolink on the day of the ruling, which will decide whether the 49-year-old jeweller has a case to answer before the Indian courts on fraud and money laundering in relation to the Punjab National Bank (PNB) scam case. Last month, District Judge Samuel Goozee had confirmed the timeline for the judgment at the end of closing submissions in the case, during which he heard that Modi is responsible for overseeing a "ponzi-like scheme" that caused enormous fraud to PNB.

Air India owes Rs 5,000 cr in fuel dues; hasn't paid for 230 days

Air India owes Rs 5,000 cr in fuel dues; hasn't paid for 230 days

Rediff.com23 Aug 2019

IOC, BPCL and HPCL on Thursday afternoon stopped ATF supplies to Air India at six airports - Kochi, Pune, Patna, Ranchi, Vizag and Mohali - over payment defaults. AI flights from these places were tanking up from other airports.

Why Sardar Udham Is A MUST WATCH

Why Sardar Udham Is A MUST WATCH

Rediff.com26 Oct 2021

Sardar Udham sets a great standard which, Utkarsh Mishra believes, would be emulated by other film-makers who want to make movies of this genre.