The CBI has registered an FIR against an officer of Punjab National Bank (PNB), now suspended, for allegedly cheating the state-run lender to the tune of Rs 168.59 crore through 34 fake bank guarantees, officials said Thursday. Nearly four years after LoU (letter of undertaking) scam allegedly perpetrated by uncle-nephew duo of Mehul Choksi and Nirav Modi bled the PNB to the tune of about Rs 13,000 crore, bank official Priya Ranjan Kumar followed similar modus operandi to issue 34 fake bank guarantees without making any entries in its core banking system Finacle, according to the CBI FIR. "As per the interim investigation report dated November 27, 2022, it emerges that the fraud has been perpetrated by the bank staff in collusion with some unknown persons through illegal and unauthorized usage of the bank's systems.
Over the past few months, Infosys has been battling allegations by Murthy and other former senior executives of falling corporate governance standards.
Former CFO V Balakrishnan seeks exit of Infosys chairman, co-chairman R Seshasayee, co-chairman Ravi Venkatesan, audit committee chairman Roopa Kudva and nomination committee chairman Jeffrey S Lehman.
Avinash Sable shattered his own 3000m steeplechase national record but failed to qualify for the final, while sprinter Dutee Chand produced a below-par performance to make an exit from the Tokyo Olympics on Friday.
Former India cricketer Virender Sehwag, Paralympic silver-medallist Deepa Malik and hockey stalwart Sardar Singh were on Friday included in a 12-member committee constituted by the sports ministry to select this year's National Sports Awards winners. Just like last year, the ministry opted for a single selection committee to pick the awardees among both athletes and coaches and it will be headed by Retired Supreme Court Justice, Mukundakam Sharma.
A look at the country's athletes' showing at the Tokyo Olympics on Friday, July 30.
Co-founder Nilekani could take the role of non-executive chairman, becoming a bridge between the board and Murthy, reports Ayan Pramanik.
The board expansion comes against the backdrop of an ongoing tussle between the founders and the management over contentious issues such as CEO salary hike, severance package to former employees and corporate governance standards.
Rediff reader Sathyamoorthy Venkatesan from Whitby, Ontario, Canada tells us how his son is making the most of the lockdown.
A 23-year-old employee of scam-ravaged Satyam Computers allegedly committed suicide in Chennai, apparently fearing that he may lose his job, police said.
In an interview, Ravi Venkatesan, chairman Microsoft Corporation India Pvt. Ltd, spoke to rediff.comabout Gates, his insatiable curiosity and indomitable courage to take risks.
India was aiming for an Olympic qualification as the eight finalists get an automatic berth for next year's Tokyo Games.
A state-run university in Tamil Nadu has removed noted writer Arundhati Roy's Walking with the Comrades, book from the syllabus of MA English course following complaints, including from Rashtriya Sawayamsevak Sangh affiliate Akhil Bharatiya Vidyarthi Parishad that it glorified the ultras and was anti-national in content.
The Congress-led government in Puducherry on Monday lost the confidence vote sought by Chief Minister V Narayanasamy, in the face of its depleted strength of 11 against the opposition's 14 following resignation of ruling dispensation MLAs, including a Dravida Munnetra Kazhagam legislator.
Check out the complete schedule of Indian athletes at the Tokyo Olympics
Sundar C's Aambala is a typical masala entertainer with plenty of romance, over-the-top action, humour and great music.
Junking Murthy's claims, Infosys said the board did all it could to look into whistle-blower complaints of corporate governance lapses, particularly those related to acquisition of Panaya.
World junior champion Hima Das has been ruled out of the upcoming World Championships due to a nagging back problem.
Prior to the current role, Pramanik served as Managing Director for Oracle India and Sun Microsystems.
Blame it on improved business climate, restructuring within companies or just the basic need to pursue better opportunities -- the Indian information technology industry is seeing heavy churn at the top.
Dinakaran met Sasikala for the first time after her loyalist E K Palaniswami won the vote of confidence in the Tamil Nadu Assembly on February 18.
Congress is keen to deploy Microsoft display technologies that enable projection into any surface including walls to interact with rural masses from its headquarters in Delhi, a top official of the software giant's Indian entity said on Thursday.
In a major setback to Infosys Technologies, the company announced that Mohandas Pai, the member of board of the company has decided to resign. Meanwhile, Infosys -- India's second largest software services exports firm -- posted a net profit rise of 17.1% y-o-y to Rs 1,818 crore (Rs 18.18 billion) in its net profit for the fourth quarter ended March 31, 2011 as compared to Rs 1,600 crore (Rs 16 billion) in the corresponding quarter a year ago.
The idea behind Bharatiya Yuva Shakti Trust (BYST) is to support 'disadvantaged, young micro-entrepreneurs from the underprivileged background, with mentors, training, networking, marketing and loans'.
On Sunday, August 9, over 400 California-based community leaders from various organisations and inter-faith groups gathered under the Indo-American Community of West Coast USA banner, some of whom were the first to sign up for the event.
At least 16 persons are believed to have committed suicide either by setting themselves ablaze or by hanging since Saturday when All India Anna Dravida Munnetra Kazhagam chief Jayalalithaa was sentenced to a four-year jail term in the disproportionate assets case by a special court in Bangalore.
With the government planning to mop up Rs 24,000 crore (Rs 240 billion) through disinvestment this financial year, investors have once again become interested in public sector companies.
"There will be no significant hiring," Microsoft India chairman and corporate vice-president Ravi Venkatesan told reporters on the sidelines of the India Economic Summit in New Delhi.
In 2006, in his debut election after founding the party in 2005, he won from Vridhachalam constituency in Cuddalore district. In the subsequent assembly election he contested successfully from Rishivandiyam in Villupuram District.
Filling in the vacuum created by the high-profile exit of Neelam Dhawan, who quit Microsoft India to join Hewlett Packard (India) in June this year, the software giant on Friday announced the appointment of Rajan Anandan former Dell India head (Dell India VP and Country GM) as its new managing director.
Confirming this, Chief Financial Officer S Venkatesan said that the company has passed an enabling resolution to raise around $200 million from foreign investors either through an FCCB or a private placement.
Dalmia Cement will launch the Dalmia Institute of Construction at Trichy to develop construction skills among rural youth will unveil.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
The window of one of the coaches of the Rs 100-crore train was damaged.
Microsoft on Thursday announced the roll-out of fourth round of funding under its 'Unlimited Potential - Project Jyoti' programme that seeks to impart IT skills in village communities to help them improve their earning potential.
Available in four consumer editions, Windows Vista will be sold through 1,500 outlets in India and is priced comparably with its last offering Windows XP, Microsoft India Chairman Ravi Venkatesan told a news conference in Mumbai.
The online service division of Microsoft Corp, MSN on Tuesday appointed Jaspreet Bindra as the country manager of its Indian arm.
Microsoft Corporation India Private Limited on Wednesday announced the signing of a comprehensive memorandum of understanding with the Government of Maharashtra.
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