The Reserve Bank has permitted PNB to make provisions against the fraud amount.
Nasdaq-listed IT services major Cognizant on Tuesday said the firm's Chief Financial Officer (CFO) Jatin Dalal (pictured) had reached a settlement in the "non-compete" lawsuit filed by Wipro. The terms of the settlement, which was reached without any admission of liability by either party, are confidential. The settlement resolves all pending disputes between Dalal and Wipro, said the company in a statement. Cognizant has paid $505,087 (around Rs 4.1 crore) in connection with Dalal's settlement.
'There is more expansion in the industry happening in retail lines, so we will continue to focus on those lines.'
The Supreme Court on Monday used the legal term 'inchoate crime' to refer to mere possession of any child pornographic material that it said would constitute offences under the POCSO even if not disseminated further.
'The biggest impact will be on coal and hence on power cost. Then comes iron ore, coking coal, bauxite.'
rediffGURU Samkit Maniar answers readers' personal income tax queries
In a recent townhall meeting, creditors of WazirX pressed founder Nischal Shetty and the restructuring legal team for solutions, seeking representation on the committee of creditors (CoC) and expeditious restructuring within four months, and asked for clarity on redistribution of potential gains from future crypto market upswings.
ZEE Entertainment Enterprises Ltd (ZEEL) and Sony Pictures Networks India on Tuesday said they have settled their six-month-long dispute related to the failed $10-billion merger and have agreed to withdraw all claims against each other. As part of the "comprehensive non-cash settlement" between ZEEL and Culver Max Entertainment Pvt Ltd (CMEPL), both "have mutually agreed to withdraw all respective claims against each other, in the ongoing arbitration at the SIAC and all related legal proceedings initiated in the NCLT and other forums," said a joint statement.
'As on August 25, 94,753 Govindas have been insured.' 'This number is expected to rise further, as proposals for 5,000 to 8,000 Govindas are received daily.'
An obviously chagrined United States-India Business Council, which has lobbied feverishly for the passage of the US-India civilian nuclear deal in the US Congress, on Monday issued a guarded reaction to the passage of the nuclear liability bill in the Parliament that had 'compromised on the indemnity clause demanded by American companies to protect it from liability in case of a nuclear accident.'
Ending months of wrangling between treasury benches and the opposition, the Lok Sabha on Wednesday passed the civil nuclear liability bill after government dropped the contentious provision of 'intent' in the case of accident adopting a Bharatiya Janata Party amendment, paving the way for nuclear commerce with the world.
Rs 135.3 crore. How much of it was salary, and how much commission?
The growing complexity of E2Ws and the evolving threat landscape make it challenging to guarantee complete immunity from attacks.
Bowing to pressure from the Bharatiya Janata Party and the Left parties, government on Friday dropped a controversial addition in the civil nuclear liability bill which the Opposition said diluted the liability of suppliers for accidents caused by their negligence.
The liquidity will move into deficit after advance tax payments and GST outflows. It will rebound in October because of government spending.
Greenpeace has also launched a petition addressed to Prime Minister Manmohan Singh, which the organisation claims has been signed by over 21,000 people.
A division bench of Justices Gautam Patel and Kamal Khata took suo motu cognizance of the tragic incident and initiated a public interest litigation on the issue.
"In national interest, I wish to caution Prime Minister Dr Manmohan Singh that your dependence on Communist support will prove to be a liability for anything good you many wish to do," the BJP chief said.
A nuclear liability regime would ensure compensation to the public in the event of an accident.
'Filing a nil ITR serves as a formal declaration to the tax authorities that your earnings fell below the taxable threshold in the given financial year, and you had no tax liability during that period.'
Form 16 contains details of salary income, deductions, and exemptions.
Electric two-wheeler (e2W) maker Ather Energy has submitted preliminary papers to the Securities and Exchange Board of India to raise funds through an initial public offering (IPO). According to the draft red herring prospectus (DRHP), the IPO will comprise a fresh issue of equity shares valued at Rs 3,100 crore, alongside an offer for sale of 22 million equity shares by its promoters and investor shareholders.
'Why should we disclose classified information to satisfy those who doubt our Hydrogen Bomb capability?'
While SGBs are a sound investment, they aren't worth buying at any price. The interest income you earn from them will not justify paying a high premium.
Indian companies are generating more cash than ever. The net cash flow from listed firms' operations hit a new high of Rs 11.1 trillion in financial year 2023-24 (FY24), crossing the Rs 10-trillion mark for the first time, according to the Centre for Monitoring Indian Economy (CMIE) data going back to 1990-91. The FY24 figure represents a 19.3 per cent jump over the previous year, even as quite a few companies are yet to release their numbers.
The first notice in the transaction relating to the sale of 67 per cent stake of Hutchison Essar Ltd was issued on March 15, 2007, under section 133(6) of the Income Tax Act.
With declared assets worth over Rs 600 crore, Chennur Congress candidate G Vivekananda is the richest politician contesting in the November 30 assembly polls, followed by P Srinivas Reddy from the same party with over Rs 460 crore.
Tillakaratne Dilshan is the batting Hercules of the Twenty20 World Cup which is staggering for a man who was a liability in the Sri Lankan side not too long ago.
The scion of the erstwhile Mysuru royal family and Bharatiya Janata Party candidate from Mysore-Kodagu Lok Sabha constituency Yaduveer Krishnadatta Chamaraja Wadiyar does not own a house, land or even a vehicle, according to his election affidavit.
'The impact of CBDC on deposits and deposit insurance is largely unknown.'
Finance Minister Nirmala Sitharman on Monday held a performance review meeting with heads of public sector banks and asked them to make concerted efforts to garner deposits. Deposits have been growing 300-400 basis points lower than the credit growth in the last few months, creating an asset-liability mismatch for banks. During deliberations on the deposit mobilisation, she said that while the credit growth has picked up, mobilisation of deposits could further be improved to fund the credit growth sustainably, and asked banks to make concerted efforts to garner deposits by conducting special drives.
The Unified Pension System (UPS), approved by the Union Cabinet on Saturday, is "fiscally prudent" as it will be funded within the Centre's fiscal projections, according to T V Somanathan, the Cabinet Secretary-designate. Speaking to Business Standard immediately after the Cabinet nod, former finance secretary Somanathan, who headed the committee set up in March 2023 to review the National Pension System (NPS), said the UPS will not postpone pension expenditure as it will be contributory and financed each year.
Health insurance coverage should be hiked periodically to keep pace with medical inflation, or increase in healthcare costs.
Since employers can't furnish Form 16 in the middle of the year, they give Tax Computation Statement.
Bharatiya Janata Party candidate from Chevella Lok Sabha constituency K Vishweshwar Reddy has emerged as one of the wealthiest contestants in Telangana after he declared his family assets worth Rs 4,568 crore, according to an affidavit he filed with the election authorities.
Both candidates have shifted from their traditional constituencies - Sadhotra from Marh and Sharma from Akhnoor - after these two segments were reserved for Scheduled Castes.
In addition to regulatory actions against small and midcaps, tighter liquidity conditions are another headwind that stocks are facing this month. Market observers say advance tax outflows and capital gains-related adjustments will weigh on the markets in the near term.
In view of the rising number of mobile and internet banking users, the Reserve Bank of India (RBI) has proposed to tighten norms related to the liquidity coverage ratio (LCR) by increasing the run-off factor for retail deposits. "Banking has undergone rapid transformation in recent years. "While increased usage of technology has facilitated the ability to make instantaneous bank transfers and withdrawals, it has also led to a concomitant increase in risks, requiring proactive management," the RBI said in the draft guidelines released on Thursday.
Third party claims are adjudicated by the constituted tribunals.
Concerned over household savings moving towards alternative investment avenues, RBI Governor Shaktikanta Das on Thursday asked banks to mobilise deposits through innovative products and services by leveraging their vast branch network. "Banks are taking greater recourse to short-term non-retail deposits and other instruments of liability to meet the incremental credit demand. "This, as I emphasised elsewhere, may potentially expose the banking system to structural liquidity issues," he said.
