As a multi-disciplinary organisation, SFIO probes cases of financial frauds that are referred to it by Corporate Affairs Ministry
Two persons were injured and a vehicle was damaged when unidentified miscreants hurled grenades in front of Punjab National Bank branch at Ganeshguri in the heart of the city around 6.10 on Tuesday evening.
The Finance Ministry has invited private sector bankers.
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.
Private sector banks are way behind their PSU peers when it comes to opening financial inclusion accounts under the Prime Minister's Jan Dhan Yojana
The name of fugitive diamantaire Mehul Choksi wanted in a Rs 13,000-crore scam in the Punjab National Bank is understood to have been removed from the Interpol database of Red Notices on the basis of his plea to the Lyon-headquartered agency, people in the know of the development said. The Central Bureau of Investigation (CBI) remained tight-lipped on the development. The Red Notice is highest form of alert issued by the 195-member country-strong Interpol to law enforcement agencies worldwide to locate and provisionally arrest a person pending extradition, surrender, or similar legal action.
'The fight is between the Congress and Akali Dal.'
The National Stock Exchange (NSE) on Monday conducted the first round of mock electronic bidding process for implementing application supported by blocked amount (ASBA), an alternative mode of payment for initial public offerings (IPOs), proposed by capital markets regulator, Securities and Exchange Board of India (Sebi).
Indian Bank plans an initial public offer in July 2004 to raise capital for funding its expansions, its chairman Ranjana Kumar said on Tuesday.
Rating agencies on Wednesday warned against more exposure to debt-ridden Kingfisher Airlines, saying more debt may hit banks' credit profiles and add to the burden of provisions.
One hundred and thirty officials of different government departments were slapped with major penalty by the Central Vigilance Commission for their alleged involvement in corruption.
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.
The cumulative loss of 20 state-run lenders stood at Rs 14,000 crore during Q4
The broader Nifty ended on top of 9,800 again.
Independence Day was celebrated across states and Union territories on Thursday, as several chief ministers announced job schemes while some others vowed their support for Prime Minister Narendra Modi's vision of a Viksit Bharat by 2047.
Temperatures in 17 locations breached 45 degrees Celsius on Monday, with the punishing heat affecting health and livelihoods.
Prime Minister Narendra Modi on Friday claimed that the Congress and Samajwadi Party will run a bulldozer over the Ram temple if elected to power, and asked them to take 'tuition' from Uttar Pradesh Chief Minister Yogi Adityanath 'where to run bulldozers'.
Telecom Regulatory Authority of India Chairman Rahul Khullar said insurance companies have asked for 4-6 weeks to deal with unsolicited commercial call or SMS.
In its letter, finance ministry has pointed to sections 35, 35A and 36 of the Banking Regulation Act, 1949, to highlight the powers and functions of the RBI as regulator
While the formation of a holding company will not outright privatise State-owned banks, officials believe it will help the Centre deflect criticism arising out of the latest banking scams.
Govt renews search for five PSU bank chiefs; norms relaxed.
The gross NPAs of some public sector banks, including State Bank of India and Punjab National Bank have crossed 4 per cent of the total assets at the end of March, 2013.
Unlike any other national asset, which is typically sold to the highest bidder, the profile of the bidder is the most important criterion for a licence to bank, and even for acquiring more than 5 per cent stake, explains Tamal Bandyopadhyay.
'The RBI is not releasing Rs 2,000 notes for the last 10 days; probably they have stopped printing it.'
Home prices are unlikely to see any fall, with property developers saying they plan to pass on the increase in cost of borrowing to home buyers following the recent raising of bank interest rates.
A common feature in India is the lag between the occurrence of frauds and the time they are actually reported.
Amardeep Singh, 22, a resident of Brampton, Surrey, and Abbotsford areas of Canada, has been charged with first-degree murder and conspiracy to commit murder.
The probe into selections for banks such as Bank of Baroda and Canara Bank followed the arrest of Syndicate Bank CMD S K Jain for alleged graft.
Mortgage lender HDFC Ltd on Wednesday announced an increase in its benchmark lending rate by 5 basis points (bps), a move that will make loans dearer for both existing and new borrowers. This is the third hike effected by HDFC in the last one month. "HDFC increases its Retail Prime Lending Rate (RPLR) on housing loans, on which its Adjustable Rate Home Loans (ARHL) are benchmarked, by 5 basis points, with effect from June 1, 2022," the housing finance company said in a statement.
The capital infusion would help improve the financial health of banks. While some banks would get necessary regulatory capital while others would get it for fueling growth.
"Photographs (Nirav Modi Davos photo) mean nothing. Even you people are sitting with me and we being photographed and if somebody does anything will I be linked?" he told reporters.
Currently, the enforcement officers are making seizures of assets directly and indirectly connected to offenders, including jewelers Nirav Modi and Mehul Choksi in the Punjab National Bank fraud and Vijay Mallya in the Rs 9,000-crore IDBI loan case.
Though most experts remain bullish on the banking space, they suggest investors buy only those banks whose NPAs are at a manageable level of 3% to 4% and there is credit growth or earnings visibility.
External Affairs Minister Sushma Swaraj met Foreign Minister of Antigua and Barbuda E P Chet Greene on the sidelines of the 73rd session of the United Nations General Assembly and raised the extradition issue of Choksi, who is currently in the Caribbean island.
Reserve Bank of India Governor Raghuram Rajan had said recently that there was "no need" to set up a separate bad bank to deal with stressed assets of public sector lenders.
Enlarging the scope of its investigation, the finance ministry has asked some non-bank finance companies for loans-related information on an urgent basis.
The response was tepid in other parts of the country even as several INDIA bloc parties as well as other non-BJP outfits extended their support to the bandh.
'The government must find worthwhile private owners for some of the banks, increase the share of private sector banking in the system, and then ask the remaining government banks to face the discipline of the market and compete, or shrink into irrelevance,' says T N Ninan.
'We can't have the best of both worlds -- large, efficient, world class government-owned banks, doing social banking and making profits. 'Why not set them free from the shackles of such obligations and run them as business units?' says Tamal Bandyopadhyay.
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