'A government whose policies are focused around making the life of ordinary citizens, specially the most deprived sections, richer; a government that prioritises education, health and transport, that doesn't treat its citizens as subjects who must come to it for everything, is rare in our country.' 'When such a government is thrown out, one is left stunned,' notes Jyoti Punwani.
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 Aam Aadmi Party dismissed the allegation as "baseless" and claimed it was "another conspiracy hatched by the BJP" to tarnish AAP's image ahead of voting for Lok Sabha seats in Delhi and Punjab.
Lenders can now initiate recovery proceedings since the SC has lifted the standstill on asset classification, which protected stressed accounts from slipping into NPAs.
Operating margins have been the primary driver of corporate earnings in India in recent quarters, despite revenue growth suffering from weak consumer demand. Companies across sectors have reported a sharp improvement in earnings before interest, tax, depreciation, and amortisation (Ebitda) margins over the past two years, benefiting from lower commodity and energy prices. Higher margins more than compensated for slower revenue growth, resulting in double-digit growth in net profit for five consecutive quarters.
'The BJP has killed public anger. They have killed people's self-respect.'
A team of about five CBI officials reached the PNB branch at Sector 4 Vasundhara in Ghaziabad, on the outskirts of the national capital, to execute the search, officials said.
The RBI will take action against, apart from erring auditors, those responsible for wrong information in a bank's financial statements, incorrect certification given by auditors, wrong information given in the Long Form Audit Report, and any other violations of the RBI's rules and regulations on auditing.
The government has changed the criteria for infusion of capital.
Loan against gold as a product is catching on fast. Let's keep the momentum going, but aim for sustainable growth. A few bad apples should not ruin the brunch, argues Tamal Bandyopadhyay.
Under the Goods and Services Tax, effective midnight of June 30, most of the financial services would attract a higher tax of 18 per cent as against 15 per cent as of now.
Cheque clearances and cash withdrawals and deposits in public sector bank branches across the country were hit as employees started a two-day strike on Monday to press for a revision in wages.
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.
'Had the Congress made Sidhu its CM face, they would have won 80 out of 117 seats.'
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 IPPB, which is currently running pilot services in Raipur and Ranchi, needs a go-ahead from RBI for the software used for system integration
The meeting will review annual financial performance of public sector banks, credit offtake in the economy, priority sector lending and progress made under various social sector schemes, including Atal Pension Yojana (APY) and Pradhan Mantri Jan Dhan Yojana.
The S&P BSE Sensex dropped 1 points to end at 26,396 and the Nifty50 slipped 2 points to end at 8,109.
The banks also received a warning from the rating agency Care, in February 2016, after Firestar's financials deteriorated.
25,600 cases of banking fraud totalling Rs 1.79 billion were reported up to December 2017. 'There is an inherent legacy when it comes to insuring crime.' 'Generally, most banks are uncomfortable in sharing data about employee fraud.'
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.
It further said that the loan application form should be suitably modified to incorporate passport details of borrowers.
Kejriwal's centralised way of governance might work in Delhi, but Punjab will call for delegation, observes Sanjeev Nayyar.
A week after the Reserve Bank of India (RBI) raised key policy rates and asked banks to restrain loan growth as deposit mobilisation remains slow, three state-owned banks responded on Monday by increasing their benchmark lending rates and deposit rates.
Of the total 53,334 cases of frauds reported during 2008-09 and 2018-19 fiscal years, involving a whopping Rs 2.05 lakh crore, a highest of 6,811 cases were reported by the ICICI Bank.
The 'bad bank' -- which will help banks clear their balance sheets by transferring the NPAs to special purpose vehicles -- has been one of the most debated ideas for stressed asset resolution.
Tax sleuths have detected over Rs 52 crore of unexplained cash in jewellers' bank accounts
Banks have been struggling hard to recover dues from grounded Kingfisher Air.
The Crown Prosecution Service said the hearing for his bail petition will take place on June 11.
According to RBI's circular, cases of frauds involving more than Rs 25 crore and up to Rs 50 crore should be given to the CBI's Banking Security and Fraud Cell
The finance minister also said that the merger would not result in any retrenchment but rather improve the benefit of the employees.
Mallya is separately fighting extradition to India on fraud and money laundering charges worth an estimated Rs 9,000 crore
Chakrabarty would succeed V Leeladhar as the deputy governor in charge of banking in the apex bank. The official notification is expected soon and Chakrabarty is likely to assume office on Monday, banking sources said.
Banks and builders are offering lower rates and freebies, but there is also a case for price correction in the future. Wait, if you are not desperate.
The Delhi high court on Friday dismissed a plea by Mehul Choksi, an accused in the nearly USD 2 billion PNB scam, to conduct pre-screening of Netflix documentary Bad Boy Billionaires.
Nirav, 48, appeared before the Westminster magistrates' court via videolink from his London prison for a routine "call-over" remand hearing.
The Punjab National bank on Friday announced 0.25 per cent cut on interest rates for home and car loans, effective from Saturday, September 23.\n
Sebi on Thursday sent a notice to fugitive businessman Mehul Choksi asking him to pay Rs 5.35 crore in a case pertaining to fraudulent trading in the shares of Gitanjali Gems Ltd and warned of arrest and attachment of assets as well as bank accounts if he fails to make the payment within 15 days. The demand notice came after Choksi failed to pay a fine imposed on him by the Securities and Exchange Board of India (Sebi). Choksi, who was the chairman and managing director as well as part of promoter group of Gitanjali Gems, is the maternal uncle of Nirav Modi.
Some of the public banks showed improvement; much more still needs to be done
Ananthasubramanian, 55, started her career in 1982 at Bank of Baroda as a specialist officer in the planning stream.
