'Modi wants to reverse everything Nehru did, but is shy of touching his daughter's most unwise policies.' 'There is no example of this more stark than bank nationalisation,' says Shekhar Gupta.
The Shiv Sena chief said an atmosphere is being created in the country that the National Register of Citizens (NRC) is 'dangerous' for Muslims, but added that the exercise will not be carried out in Maharashtra.
Inching closer to resolving the Punjab and Maharashtra Cooperative (PMC) Bank issue, the Reserve Bank on Monday came out with a draft scheme for takeover of the crisis-hit bank by the Delhi-based Unity Small Finance Bank (USFB). The draft scheme of amalgamation envisages takeover of the assets and liabilities of PMC Bank, including deposits, by USFB, thus giving a greater degree of protection for the depositors, the RBI said. In September 2019, the RBI had superseded the board of PMC Bank and placed it under regulatory restrictions, including cap on withdrawals by its customers, after detection of certain financial irregularities, hiding and misreporting of loans given to real estate developer HDIL.
While addressing a joint press conference with Shiv Sena chief Uddhav Thackeray in Mumbai, NCP chief Sharad Pawar paraded 3 MLAs to display that all are with him.
A delegation of account-holders went to Sion police station in central Mumbai and submitted the complaint against officials of the bank on which the RBI has imposed operational restrictions. The delegation in its complaint alleged that at least 14 people, including the PMC Bank's chairman and all its directors, were involved in misappropriation of funds of the account-holders.
The weekend lockdown will start from 8 pm on Fridays and last till 7 am on Mondays. Besides, prohibitory orders will be in force during daytime on weekdays, the Chief Minister's Office (CMO) said in a statement.
The BJP and the Shiv Sena rule the state in coalition, apart from officially being partners in Delhi as well, while also never missing an opportunity to portray each other as a bungler deserving to be dumped.
To manage anxious crowds, as many as 3,400 personnel of paramilitary and Delhi Police along with 200 quick reaction teams have been deployed at ATMs and banks.
Advisory in this regard was issued by the Gujarat government three days before Prime Minister Narendra Modi announced demonetisation of Rs 500 and Rs 1000 notes.
The money sent home by Indians from West Asian countries took a beating in 2020-21 due to the pandemic. On the other hand, overseas Indians in advanced nations - the United States, United Kingdom and Singapore - emerged as important sources of remittance, according to a Reserve Bank of India (RBI) survey. Indians working in informal sectors in West Asia seem to have been impacted the most due to the lockdowns and subdued crude oil prices as well as slower pace of migration in recent years.
That apart, farmers will get loans for post-harvest storage of their produce at a subsidised interest rate of 7 per cent for six months.
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.
Excerpted from Sahara: The Untold Story by Tamal Bandyopadhyay.
"I have been in this business (banking) for two decades. While doing business nothing wrong has been done. However, irregularities may happen. If irregularities have happened, there is punishment for it. I am ready to face punishment," state Cooperatives Minister Subhash Deshmukh said.
The talks took place in a beach resort in Benaulim on the sidelines of a meeting of the Council of Foreign Ministers of the Shanghai Cooperation Organisation.
'We don't feel that the law and order situation will turn bad because of our agitation.'
The rising COVID-19 infections across the country are a matter of concern, but it may not impact the ongoing economic revival as one does not foresee lockdowns, Reserve Bank Governor Shaktikanta Das said on Thursday. The economic revival will continue "unabated", Das said, asserting that there is no need for a downward revision of RBI's 10.5 per cent GDP growth forecast for FY22. Speaking at Times Network's India Economic Conclave, Das said, "We have 'insurance' to protect economic revival like a fast-paced vaccination drive, greater ability among people to follow COVID protocols", and one does not see lockdowns as well.
Ahead of the assembly elections, the saffron allies may be ecstatic over the swelling, but it's a double-edged sword with many older leaders wondering what they have got after putting in years of hard work, reports Radhika Ramaseshan
Sushant Singh Rajput's father K K Singh alleged that Rhea Chakraborty is the "murderer" of his son and demanded her arrest.
The move came at a time when deliberations between the Congress, the NCP and the Shiv Sena seemingly reached the final stage on Friday.
It's been over two months since the flood waters receded, and it would seem with it so has anger against either the state government or the BJP-Sena candidates, reports Archis Mohan.
"Every time we cut trees, we plant more. It is a rule of the forest department," Javadekar said.
'We get to know secrets such as some of India's top-rated firms do not always make payments when due and many State-owned, listed, enterprises that borrow in bond markets default regularly.' 'Without naming the bank, he says that ever-greening of poor loans by a part of India's shadow banking lay at the doorstep of India's banking, notably 'one private bank'.' Viral Acharya's Quest for Restoring Financial Stability in India won't be music to many ears, observes Tamal Bandyopadhyay.
Considering the economic downturn, the banking sector should help strengthen the cooperative sector to encourage small and medium industries and create jobs, Chavan said.
The Nafed has outstanding dues of Rs 224.26 crore (Rs 2.24 billion) as of February 15.
'It is just that they are not in the limelight in a city like Mumbai.' 'It is not a lonely journey, but a tough journey for sure.'
'The farmer is furious because the MP government is trying to crush their agitation violently.' 'Such actions will have nation-wide repercussions.' 'Why this drama (Shivraj Chouhan's fast) after violently crushing the farmers' agitation?' 'He should resign immediately.'
While farmers in Gujarat are rejecting the compensation package, farmers in Maharashtra say they do not wish to part with their land for a project that largely benefits Gujarat.
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.
Kumaraswamy met representatives of farmers groups and progressive peasants to discuss the problems faced by them.
Crores of new currency notes continue to tumble out of lockers and hidden locations as authorities conduct raids and searches across the country.
The Bombay high court on Thursday said the judiciary and agencies like the Reserve Bank of India, the Central Bureau of Investigation and the Enforcement Directorate should act independently, and asked 'what heavens are going to fall' if an interim protection from coercive action is granted for a few days to Nationalist Congress Party leader Eknath Khadse in an alleged land grab case of 2016.
This is one of the many such cases that helped to create an acute fear psychosis among public sector bankers, reveals Tamal Bandyopadhyay in his fascinating new book Pandemonium: The Great Indian Banking Tragedy.
Ground surveys have found that several members of the dominant castes are in economic conditions quite similar to that of peer communities with the advantage of quotas.
The CBI has initiated the action on the complaint of Bank of Baroda, which was a member of consortium led by Bank of India, which had approached the agency fearing that Kothari may flee the country like Nirav Modi and his uncle Mehul Choksi.
"People forgot about income for farmers. But for the first time, this thinking has been changed," he said and listed steps the Centre has taken for the welfare of farmers.
The concept of gold as an asset capable of getting anytime money is evaporating.
Economists praise Das for his pragmatism and willingness to face challenges head on. And in doing so with the finesse of an able administrator.
Pansare, who was shot at and critically wounded by unidentified assailants outside his housing society after returning from a morning walk on February 16, succumbed to his injuries at Breach Candy hospital in Mumbai late Friday night.
'While most companies were bullish before the second wave of double-digit sales growth in FY22, that may not be the case now.'
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