Ajit Mishra, vice president, research, Religare Broking, answers your stockmarket queries.
Rediff readers tell us how they are celebrating the Ganesh Utsav festival.
The notice, which acts as an international arrest warrant, states that Purvi Deepak Modi, 44, is required on charges of "money laundering".
'We are not yet out of the woods.' 'If India sees the South African or Brazilian type of mutations, our numbers will rapidly rise.'
Vipul Chitalia was apprehended at Mumbai airport and brought to the CBI office at the Bandra-Kurla Complex in Mumbai for questioning, he said, but did not divulge any other details about Chitalia's alleged role in the PNB fraud.
The two diamond traders, who are said to have left the country before criminal cases were registered, had failed to appear before the ED, promoting the agency to move the PMLA court for issuance of NBWs against them.
The RBI has been critical of banks for using restructuring schemes to hide the stress.
PNB took the delivery of these high-end luxury cars worth approximately Rs 1.34 crore last month, unmindful of the coronavirus outbreak, subsequent nation-wide lockdown and its crippling effect on the financial sector as well as the economy. The annual depreciation on this purchase will be around about Rs 20 lakh.
The special court, however, did not permit the ED to attach the paintings owned by Modi and seized by the Income Tax department as the Bombay high court had earlier directed for the artworks to be auctioned but the money to be deposited and not disbursed.
Fugitive diamantaire Nirav Modi's sister and brother-in-law have "turned approvers" in the over $2 billion PNB fraud case against him and they will help the Enforcement Directorate confiscate assets worth Rs 579 crore, including Swiss bank deposits, the agency said on Thursday. Forty-nine-year-old Nirav Modi, who is currently lodged in a London jail, his uncle Mehul Choksi and others are being probed by the Enforcement Directorate (ED) in the Punjab National Bank (PNB) money laundering case since 2018. The diamond merchant's younger sister Purvi Modi (47) is a Belgian national while her husband Maiank Mehta is a British citizen. They are stated to be based abroad and have never joined the probe.
Omkeshwar Singh, head, Rank MF, a mutual fund investment platform, answers your queries.
Other countries with a large number of cases including Brazil, Russia, Spain and the United States of America, all have more people heading to work.
Use of blockchain technology will ensure that banks will not be blindsided like in the case of the Nirav Modi-Mehul Choksi blowout at PNB, says Raghu Mohan.
However, the Indian capital markets regulator rejected the claim saying it neither received any such request, nor provided any such information to the concerned department in Antigua.
ED said the United Kingdom's home secretary recently referred India's request for extraditing the tainted businessman to a court for initiating legal proceedings against him.
'One cannot avoid speculating whether there was something else at play that led to the uncovering of this saga.'
For some, he's a bully and probable 'blackmailer' who targeted the rich and famous, especially in Bollywood, for fame, and allegedly, ransom. For others, he's finally the one brave narc who decided to do his job, no matter how powerful his quarry, observes Shekhar Gupta.
The National Investigation Agency on Thursday arrested a suspected right-wing terrorist Mafat Lal from Vadodara, Gujarat in connection with its probe in 2007 Ajmer blasts, the second person to be nabbed in the case this week.
The chargesheet, filed in a special court in Mumbai, also names several other top officials of the bank.
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.
His brother Nishal, a Belgian citizen, also left the country on January 1, while wife Ami, a US citizen, and business partner Mehul Choksi, the Indian promoter of Gitanjali jewellery chain, departed on January 6, the officials said.
Modi also reiterated that he cannot return to India due to safety concerns and also because his case has been politicised.
The ED had summoned Patel, 70, twice for questioning in the case but the Congress Rajya Sabha MP from Gujarat later cited prevailing COVID-19 guidelines that advises senior citizens to stay indoors in order to remain safe from the pandemic.
Gujarat bowlers put up a clinical show to leave Madhya Pradesh reeling at 212 for eight in reply to the visitors' 355 in their Group A Ranji Trophy match in Indore on Saturday.
The four officials were asked questions related to the UPA government's '20:80' gold import scheme, which was cleared by Chidambaram on May 13, 2014, barely three days before the counting of votes of the general election
The I-T department also attached 34 bank accounts and fixed deposits, valued at Rs 1.45 crore, of the Gitanjali group.
Rahul reiterated that there was massive corruption in the Rafale deal.
There are around 6,500 diamond manufacturers of which Palanpuri Jains operate a mere 6 per cent, or around 400 companies. But they stand out for being highly interlinked through blood ties.
The Enforcement Directorate, which continued its searches against Modi, Choksi and their companies for the fourth day on Sunday , is also moving to attach at least two dozen immovable properties under the Prevention of Money Laundering Act.
Hedge fund redemptions and margin calls on leveraged investors will trigger further selling.
In a report on the rupee's depreciation, S&P said, "Revenue for companies that export and operate overseas would rise, because they would get more rupees for the goods and services they sell."
India's jewellery retailer Gitanjali Group is planning to invest up to $75 million (around Rs 414 crore) in increasing its number of outlets in the UAE to 110 within two years.
Officials say that such a list, to be updated on a real-time basis, will serve as a ready reckoner in identifying those committing multiple economic offences
'If you give your ID and password to somebody else, how can anybody blame the technology for that problem?'
The US Department of Justice declined to comment on Modi.
PNB issued a formal appointment letter to Belgium-based consultancy firm BDO
Firestar Diamond, which on its website states that its operations span the US, Europe, the Middle East, the Far East and India, blamed liquidity and supply chain challenges.
Currently, confiscation can be done through multiple laws, but it is a complicated process.
Sena said many banking frauds have come to fore during the Modi regime.
The 2007 Ajmer Shariff blast was carried out to deter Hindus from going to the famous shrine and the act was carried out by a group of extremists whose members belonged to both majority and minority communities, Swami Aseemanand, an accused in the case has said in his confessional statement.
