'As long as the government owns the banks, bankers will follow signals from politicians as to how to lend.' 'State-owned banks will remain State-owned banks as long as the current dispensation is in power -- and certainly there will be no change if the other chaps get in,' says Mihir S Sharma.
She was the managing director and the CEO of PNB since August 14, 2015 before being appointed in Allahabad Bank on May 6, 2017.
The Income Tax Department on Tuesday also raided 20 premises linked to Gitanjali Gems promoter Mehul Choksi and suspected shell firms in connection with an alleged tax evasion case against them, official sources said.
Documents accessed by Business Standard show owners of suspected Hong Kong-based shell companies are spread across the globe.
Gandhi added the minimum income guarantee would be implemented across the country.
No one knows where billionaire Nirav Modi emerged from. What is known is that when he came (back) to India, he cut his teeth in the diamond business under the tutelage of his jeweller uncle. Then he began to build a glittering international brand. Soon even Hollywood stars like Kate Winslet and Dakota Johnson were walking the red carpet showing off Nirav Modi jewels.
As many as 68 artworks went under the hammer on Tuesday evening and included works by the greats like Raja Ravi Varma, V S Gaitonde, F N Souza, Jogen Chowdhury, and Akbar Padamsee among others.
'There's no real rebellion, just a consuming love for fashion and faux feminism where every zinger flying out of their mouth sounds like something you've heard on a sitcom or favourited on your Pinterest wall,' notes Sukanya Verma.
After taking over on Tuesday night, Rao overhauled the team probing allegations of corruption against Asthana, bringing in completely new faces, officials said.
'The web of transactions is so complex that it requires expertise to understand the strategies involved in each fraud.'
For the baning sector, 2018 was a 'Year of Exits' - borrowers fled from the country as loans went kaput and many bank CEOs were forced to leave
The Congress hit back saying the PM could not mislead the people by 'lying' as he had been 'exposed'.
Hitting out at Gandhi, the BJP said it was his party's app that was sharing user data with his friends in Singapore.
'Irrespective of the price movement of gold, customers can lock in their purchase at Rs 28,000 per 10 grams of pure gold.'
The country's largest lender State Bank of India will get the largest sum of Rs 8,800 crore as government's capital infusion.
A key demand is to reduce the dividend distribution tax on listed firms.
Offenders will be tried under Prevention of Money Laundering Act
Liberty Media, the US firm that completed a takeover of the sport in January, immediately identified digital as an area ripe for development as it seeks to tap lucrative new revenue streams and give fans more of an experience.
Jaitley slammed lack of ethics in certain sections of businesses and said multiple layers of auditing system chose to either look the other way or did a casual job.
The spotlight is back on the hawala trade in diamonds.
The Enforcement Directorate on Wednesday continued raids for the seventh day as it visited 17 locations across the country, including four shell companies in Mumbai, even as the Income Tax department attached assets worth Rs 145 crore in the alleged Rs 11,400-crore Punjab National Bank fraud.
Three-four big gem and jewellery firms are showing financial weaknesses and might find it tough to withstand shocks
The venue for Saturday's meeting was shifted at the last minute from the headquarters of the India Banks' Association in Cuffe Parade to avoid media glare.
Omkeshwar Singh, Head, Rank MF, a mutual fund investment platform, answers your queries.
Modi took on Gandhi for mocking him for chanting 'Bharat Mata ki Jai' at every meeting. The prime minister said he will continue to do so despite Gandhi's 'fatwa' on it.
Gold jewellery exports may decline by about 50 per cent in this financial year from last year after government restrictions reduced the availability of raw material, Gitanjali Gems Chairman and Managing Director Mehul Choksi said.
The jewellery industry has welcomed the government's decision to ban old Rs 500 and Rs 1,000 notes, saying gold demand will rise as people will have more faith in the precious metal than the currency notes. But the unorganised builders and secondary (resale) property market would be adversely impacted.
'The Modi-Shah duo won't leave the war zone without putting up a tough fight.' 'Modi's slogan for 2019 could well be, "I have done much. Give me one more chance to do even more".' '2019 will be tough for the BJP.' 'But it will be even tougher for the Opposition -- united or otherwise,' says R Rajagopalan.
It appears that the BJP government has succeeded in managing the communication of the PNB scam in a manner that its adverse impact on its electoral fortunes is largely contained
Legal experts are not sure if threat of confiscation of property will be deterrent enough for fleeing offenders
The scheme, touted as a panacea to burgeoning CAD, was a huge flop that fostered a spike in smuggling and allowed several Gitanjali-like players to make a killing
'Change is the rule of politics.'
The latest fraud is a failure of management supervision and accountability, as no bad debt was generated and no cash was involved
"Guide to looting India by Nirav Modi - - 1) Hug PM Modi 2) Be seen with him in Davos. Use that clout to: A) Steal 12,000 crore B) Slip out of the country like Mallya, while the government looks the other way," Congress chief Rahul Gandhi tweeted.
As many as 17 locations in Delhi, Mumbai, Hyderabad, Jaipur and Surat were raided by the ED.
While 41 times champions Mumbai are expected to last the distance, it will be a stern test of character for Gujarat who are in their first final in 66 years with the baggage of never winning the prestigious domestic trophy.
Providing relief to the economy from widening trade deficit on account of gold imports, the inward shipments of the metal slumped in December to 39 tonnes, Commerce Secretary Rajeev Kher said on Wednesday.
In the atmosphere created by the reaction to the PNB fraud and RBI's resolution framework, "don't lend, don't resolve" is bound to become the bankers' new mantra, says T T Ram Mohan.
Theoretically, Modi, who understood corporate finance, committed no crime by raising debt to fund a growing business. In fact, he did a tidy job of it, but his operation started to see the ground underneath it give way in January 2018. A fascinating excerpt from Pavan C Lall's Flawed: The Rise And Fall Of India's Diamond Mogul Nirav Modi.
Import in the first nine months of the current calendar year fell 20 per cent to 525 tonnes from 658 tonnes in the year-ago period.
