Country's largest mutual fund UTI AMC on Friday became a private company with the four sponsors paying Rs 1,236.95 crore (Rs 12.369 billion) to the government.
It is high time the Indian government signalled discomfort with the UK providing refuge to those accused of financial crimes in India, states Jaimini Bhagwati.
The Income Tax Department had last month auctioned several art works that were owned by absconding diamond merchant Nirav Modi for Rs 59.37 crore.
Challenging the "illegal" reduction in its claim by the erstwhile resolution professional (RP) in the Jet Airways revival plan, the Punjab National Bank (PNB) has moved the National Company Law Appellate Tribunal (NCLAT) citing discrimination. The NCLAT on Thursday issued notices to RP Ashish Chhawchharia and the committee of creditors on PNB's plea to set aside the insolvency court's approval of the airline's revival plan. It has posted the matter for further hearing on September 21.
The diamond merchant wanted in India on charges of fraud and money laundering in the estimated $2-billion Punjab National Bank scam case, lost his legal battle against extradition as a UK judge ruled that he does have a case to answer before the Indian courts.
Punjab National Bank is planning to open a subsidiary in the United Kingdom in a bid to make its presence felt in the international arena.
'FDs should hold your emergency funds, equivalent to around 6-12 times your monthly expenses.'
Bankers seem to be pleased with the government for keeping its promise of not interfering in operational matters, but are apprehensive about the intense scrutiny of their functioning.
Mixed global cues and decline in crude oil prices further dent the sentiments.
Punjab National Bank has reserved 800,000 shares of its proposed public offer for small investors holding the bank's shares worth up to Rs 100,000.
Punjab National Bank on Friday reported a 21 per cent increase in net profit at Rs 314.27 crore (Rs 3.14 billion) for the quarter ended December 31, 2004 compared to Rs 259.8 crore (Rs 2.59 billion) during the corresponding period last fiscal.
Of the three major Budget announcements related to the banking sector, privatisation of PSBs is the most audacious, says Tamal Bandyopadhyay.
In what could trigger another interest rate war, the Punjab National Bank has announced an array of concessions under its festival bonanza including 0.50 per cent cut in housing loans at 7.75 per cent.
A joint forum of central trade unions has given a call for a nationwide strike on March 28 and 29 to protest against the government policies affecting workers, farmers, and people.
The latest fraud is a failure of management supervision and accountability, as no bad debt was generated and no cash was involved
'The Insolvency and Bankruptcy Code is neither beneficial to banks nor helpful for the borrower.' 'Genuine people who are caught in economic stagnation will lose everything and thousands will lose jobs.'
The 20-member squad also includes goal-keepers PR Sreejesh and Krishan Bahadur Pathak; defenders Harmanpreet Singh, Amit Rohidas, Surender Kumar, Varun Kumar, Jarmanpreet Singh and Jugraj.
The government must set up a Bank Investment Company to shrink its role in PSBs, if we are serious about tackling the two persistent issues - lax corporate governance practices and discretionary decision-making, says Shyamal Majumdar.
They said the global arrest warrant against the Belgian national Nehal, 40, has been issued on charges of alleged money laundering that is being probed by the Enforcement Directorate.
An elated Aam Aadmi Party after winning the Municipal Corporation of Delhi polls on Thursday vowed to improve civic amenities in the national capital while the Bharatiya Janata Party thanked voters for "recognising" its work as it took solace in securing over a hundred seats despite exit poll predicting its rout.
Since its launch in April, helpline 155260 has been able to prevent more than Rs 18.5 million of defrauded money from reaching the hands of fraudsters.
What was the RBI doing, what was the PNB top management doing, what were the auditors doing, asks Debashis Basu.
Punjab National Bank has revised the interest rate on the Foreign Currency Non-resident Bank deposits denominated in dollar, pound and euro.\n\n
Why are investors gung-ho about State Bank? asks Tamal Bandyopadhyay.
The actor had appeared in the a TV commercial for the brand along with Sidharth Malhotra.
Is it is necessary to play divisive politics to succeed in the next general elections? asks Dr Sudhir Bisht.
Cyber crimes in 2016-2017: 1,372 cases. Cost: Rs 423 million.
In a message to public sector banks (PSBs) that only performers will survive, the government, in an unprecedented move, has decided to allocate capital to only nine PSBs.
Despite high exposure of public sector banks to power, iron and steel sectors, analysts remain in a wait-and-watch mode.
Six decades and more later, we are now captives of our identities. Every poll is based on elaborate calculations of electability of candidates on the basis of their castes and other narrow definers. That, along with voter promiscuity, is what defines our political culture, which remains stubbornly resistant to any change, asserts Shreekant Sambrani.
Only traces of rainfall were recorded in a few areas of the national capital on Thursday which continued to experience sultry weather.
Punjab National Bank (PNB), the country's third largest lender, followed its peers to lower its benchmark rate, giving in to the government's wish that rates needed to fall to boost consumer lending.
Punjab National Bank on Tuesday slashed interest rates by 15-30 basis points on non-resident rupee deposits and foreign currency bank deposit schemes.
If his attempt to have his appeal heard in the Supreme Court fails, in principle, Modi can apply to the European Court of Human Rights (ECHR) to try and block his extradition on the basis that he will not receive a fair trial and that he will be detained in conditions that breach Article 3 of the European Convention on Human Rights, to which the UK is a signatory.
A report prepared by DIG, Haridwar, Ashok Kumar says Rana was involved in the Punjab National Bank dacoity at Ashley Hall in 1997.
The problem here is that internal auditors are good at accounts, but they are not trained to track foreign exchange transactions
Alleging that his arrest in Dominica for illegal entry was "dictated" by representatives of the Indian government, absconding diamantaire Mehul Choksi has filed a case in the high court of Roseau, seeking to quash the proceedings against him, local media there reported. The case was filed against the immigration minister of the Caribbean nation, its police chief and the investigating officer of the case. Choksi, who went missing from Antigua and Barbuda where he had been living since 2018 after his escape from India, was arrested on May 23 in neighbouring Dominica for illegal entry. He was declared a prohibited immigrant by the Ministry of Immigration in Dominica.
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