A picture released by the federal agency showed bundles of seized Rs 500 currency notes along with a few in the denomination of Rs 2,000 and Rs 200 stacked together on a bed.
Here's a recap of moments captured in India in the last week.
The BJP threw a counter punch, claiming that the Gandhi family tried to help Mallya's floundering Kingfisher Airlines in 2011-12.
The CBI has filed a fresh case against absconding diamantaire Mehul Choksi, wanted along with his nephew Nirav Modi in a loan fraud case of Rs 13,500 crore, for allegedly inflating the value of diamonds and jewellery pledged to get Rs 25 crore loan from IFCI, officials said on Monday. The CBI has booked Mehul Choksi, his company Gitanjali Gems and valuers Surajmal Lallu Bhai and Co, Narendra Jhaveri, Pradip C Shah and Shrenik Shah, they said. The central agency has acted on a complaint from Industrial Finance Corporation of India (IFCI) Ltd alleging that Choksi had approached it in 2016 seeking Rs 25 crore working capital loan for which he had pledged shares and gold and diamond jewellery.
'This government is so fond of some corporate friends that they can always amend existing laws or make new laws.'
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
In a soon to be published book, 'Of Counsel: The Challenges of the Modi-Jaitley Economy,' former chief economic advisor Arvind Subramanian says though RBI has a good reputation, it does not mean it's always right, as for years, the RBI was unable to grasp the seriousness of the loan repayment problems or identify the prolonged frauds of Nirav Modi and the likes.
'I can barely see anything in the news about the farmer protests, and all I've seen of Nirav Modi is that he can't come home because he's busy, and that the CBI is writing letters begging him to please at least call the Indian embassy, no?'
If there is a morality tale here, it is that debt and death spare no king.
Banerjee slammed the opposition for a "malicious campaign" launched against her, asserting that she does not support corruption.
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.
An Action Hero's oil and water combination of genres doesn't always gel, gets overly far-fetched in places but still holds up on the strength of whimsy and surprise, notes Sukanya Verma. An Action Hero Review.
Several people clicked snapshots of the leader having his meal from a distance that the SPG -- which looks after Gandhi's security -- permitted.
You can imagine the standard of Pagalpanti's humour when characters are named Wifi, Bully and Tully, a hospital placard reads Dr Trump and bitter gourd is mistaken for poison to evoke laughs, warns Sukanya Verma.
With this, India joins 60 other countries that collect PNR details of international passengers.
Three-four big gem and jewellery firms are showing financial weaknesses and might find it tough to withstand shocks
Choksi is wanted in India by the CBI and the Enforcement Directorate, which are probing the PNB fraud, the biggest banking scam in the country. India continues to pursue Choksi's return with the government of Antigua through diplomatic and legal channels.
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.
Banks will also have to seek borrower's status report from Central Economic Intelligence Bureau on the account turning NPA
Currently, confiscation can be done through multiple laws, but it is a complicated process.
'PNB had confirmed compliance with the RBI's prescription in its circular of August 3, 2016, which has now turned out to be factually incorrect,' Minister of State for Finance Shiv Pratap Shukla said in Rajya Sabha on Tuesday.
The complaints were filed by Bharatiya Janata Party leaders for allegedly calling Union Minister Amit Shah a "murder accused" and saying that "all thieves have Modi as surname".
He also sought to know if Modi, during his recent meeting with Chinese President Xi Jinping, asked the latter about the 2017 Doklam standoff.
The RBI was not party to the decision to demonetize 500 and 1,000-rupee notes, which was taken at the highest level of India's political leadership.
The opposition party questioned why the government took five years after the liquidation proceedings of ABG Shipyard to lodge an FIR in connection with the alleged duping of 28 banks.
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
The two central premier investigative agencies - Central Bureau of Investigation and Enforcement Directorate - have asked their officials to focus more on digital evidence, e-forums and social media to crack down on offenders. These are a crucial part of prosecution amid the second wave of the pandemic. The Income Tax Department is going full throttle on data analytics to issue notices in time-bound cases. Further, sleuths have been given electronic devices including laptops with secure connections, which keep data encrypted and inaccessible.
The Ministry of Home Affairs amended its guidelines on October 12 to include the chairman, managing director or chief executive officer of each public sector bank on the list of authorities who can issue requests for opening look-out circulars against whom an FIR is yet to be filed.
Rahul exuded confidence that his party will emerge victorious in Karnataka, Rajasthan, Madhya Pradesh and Chhattisgarh assembly polls and defeat the BJP in the 2019 general polls.
'Most likely scenario is Modi comes back with either a much smaller majority and no majority at all and a coalition.' 'Very hard to imagine him doing better than he did last time.' 'He will then be a weaker prime minister,' the author of The Billionaire Raj tells Rediff.com's Vaihayasi Pande Daniel.
'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.'
Equity indices gave up early gains to close in the red for the third session on the trot on Wednesday, weighed by selling in banking and finance counters amid inflationary pressures and persistent foreign fund outflows. A weak rupee and lacklustre global cues also kept buying sentiment in check, traders said. The 30-share BSE Sensex opened on a firm footing but failed to hold on the momentum, finishing 237.44 points or 0.41 per cent lower at 58,338.93. On similar lines, the broader NSE Nifty dipped 54.65 points or 0.31 per cent to close at 17,475.65.
ICAI intends to investigate the chartered accountants of PNB but the bank allegedly refuses to give the information sought.
The CVC is awaiting sanction to prosecute nine employees of PNB and 2 other banks who were booked by the CBI for their alleged involvement in corruption.
According to a complaint from Bank of Baroda, the conspirators allegedly cheated a consortium of bank loans of Rs 3,695 crore. The scam was earlier estimated at around Rs 800 crore.
The broader Nifty declined by 73.90 points, or 0.71 per cent, to end at 10,378.40.
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.
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.
Embattled liquor tycoon Vijay Mallya claimed on Sunday that Prime Minister Narendra Modi's statement in a recent interview confirming the recovery of Rs 14,000 crore worth of his assets has fully vindicated him in his assertion of being a "poster boy" for the Bharatiya Janata Party-led government.
The Enforcement Directorate has alleged that this is a bigger bank scam in volume than that of the Punjab National Bank fraud by fugitive diamantaires Nirav Modi and Mehul Choksi, as it involves fraud to the tune of about Rs 16,000 crore.
