Thapar, 60, was arrested under the Prevention of Money Laundering Act (PMLA) on Tuesday night after the agency carried out raids against him and his linked businesses in Delhi and Mumbai, they said. He is expected to be produced before a court on Wednesday where the ED will seek his custody, they added. The ED has been probing an alleged transaction between his company Avantha Realty, Yes Bank co-founder Rana Kapoor and his wife, who are already being investigated under the PMLA by the agency.
The plan was to expand further, add more branches and also eventually become the third bank in India to start a wholly owned subsidiary after Singapore's DBS Bank and State Bank of Mauritius, but those plans never materialised due to lack of scale and rising non-performing assets in the country.
Prime Minister Narendra Modi on Friday said India will never compromise the interests of its farmers, fishermen and dairy farmers, asserting that he would be ready to pay any price.
We need to bring cricket and glory back to Chinnaswamy Stadium: Venkatesh Prasad
About 55 banks participated in the deal, making it the largest bank group for a syndicated loan in Asia so far this year.
Data centres are increasingly becoming a key part of the real estate landscape, as reality firms - with rich expertise in land acquisition, construction and dealing with government approvals - are seeing them as opportunities to build long-term assets with continuous revenue flow.
'There is responsibility to make great games that are played by audiences, that fill the gap from an entertainment perspective.'
The 'mediation' by the United States from behind the scene on the diplomatic track appears to be once again working, which calls on both Delhi and Islamabad to show restraint and pull back from a military confrontation, notes Ambassador M K Bhadrakumar.
RBI's exercise will take into account standards of governance, the viability of the payment bank (PB) business model, and changes, if any, if needed.
'40 percent of voters in Bihar will be excluded.'
As the fight for deposits intensifies, the cost of money will rise and the margin will be under further pressure, points out Tamal Bandyopadhyay.
'It is good for us if the JMM contests. That will divide the Opposition and give us the upper hand.'
While growth in India is largely domestic and hence the overall GDP effect may not be more than 0.15-0.2%, but overall trade will be impacted due to every country going back to the drawing board, points out Madan Sabnavis.
Over 25 crore workers across India are set to strike against new labour codes and privatisation, potentially disrupting banking, postal, and other essential services.
State-owned Life Insurance Corporation (LIC) on Thursday entirely subscribed to the Rs 5,000 crore bond issue of Adani Ports and Special Economic Zone (APSEZ) at a coupon rate of 7.75 per cent, said sources privy to the development.
The raids were linked to a sophisticated organised investment fraud scheme targeting unsuspecting individuals through fake mobile apps and WhatsApp groups.
'Pakistan cannot sustain a war with India for more than four days. They are in such dire straits. At best they can sustain war for one week.'
'What is going on is the under counting of the migration population in urban areas.' 'It has been going on in the last few censuses.'
Prime Minister Narendra Modi on Saturday vowed to thwart alleged attempts to rob Dalits and backward classes of reservations by the Indian National Developmental Inclusive Alliance (INDIA) which he accused of 'enslavement' and performing 'mujra' for Muslim vote bank.
Growth in corporate profits needs to be commensurate with wages to boost the economy, Economic Survey 2024-25 said, noting that sharp disparities between the two pose risk to the economy by curbing demand. The document tabled in Parliament on Friday noted that while the labour share of GVA (gross value added) shows a slight uptick, the disproportionate rise in corporate profitsredominantly among large firmsaises concerns about income inequality.
Staff Sergeant Geri Gideon Hanghal was a resident of Nof HaGalil and a soldier in the Kfir Brigade's Nahshon Battalion, the Israeli Army said.
With 90% of the inventories sold out, JioStar expects to ring in more than a 58% increase over last year's IPL, when it clocked Rs 3,900 crore.
Capital markets regulator Sebi on Wednesday said it will auction 27 properties of Rose Valley group of companies on November 25 at a reserve price of Rs 63.26 crore in a bid to recover money raised by the firm from the public through illicit schemes. The properties to go under the hammer include flats, buildings, land parcels and hotels located in West Bengal and Bihar, the Securities and Exchange Board of India (Sebi) said in a notice. The e-auction will be conducted on November 25 between 11 am to 1 pm.
It is time for India to raise its voice not just through military prowess, but through professionalism, principled voting and partnerships, asserts Deepak Mishra.
At a time when the role of corporate boards is once again under the scanner, independent directors on the Paytm Payments Bank board have indicated that red flags were raised over regulatory issues but they may have been late in doing so. "As independent directors, we asked questions and monitored responses to the Reserve Bank of India (RBI). Many changes were made on compliances. "Obviously, in retrospect, it was not found to be enough," said one of the independent directors on the condition of anonymity.
State Bank of India, NTPC, ITC, Asian Paints, Bajaj Finance and Bajaj Finserv were also among the major laggards. In contrast, Power Grid, UltraTech Cement, HCL Technologies and Axis Bank were among the gainers.
'They wanted the city to be a great business hub. They didn't like the fact that taxes collected in Bombay would go outside the city.'
More than one million cybersecurity incidents were flagged within 10 days.
Enterprising women business correspondents, known as BC Sakhis, have facilitated transactions worth Rs 27,000 crore in Uttar Pradesh, earning Rs 75 crore in commission over the past four and a half years. BC Sakhis, appointed under the nationwide women empowerment programme, are members of self-help groups (SHGs) who are trained and certified to provide banking and financial services in rural areas.
State-owned Engineers India and MECON as well as four private entities are in the fray for the project to comprehensively revamp RBI's currency management infrastructure in order to cater to future cash needs of the country's fast growing economy. The four private entities are: Accenture Solutions; Colliers International (India) Property Services; PricewaterhouseCoopers and The Boston Consulting Group (India).
One should avoid keeping excessive funds in one's savings account.
SEBI alleges Jane Street placed bets on the stock market falling and then acted in a way to make the market actually fall so it could win its bet.
'Entering India is exciting, but it's also challenging. You have to be prepared for long-term investment.'
From the 30-share Sensex pack, Bharti Airtel, Mahindra & Mahindra, UltraTech Cement, Adani Ports, Reliance Industries, Larsen & Toubro, JSW Steel, Hindustan Unilever, Titan and Tata Motors were the biggest gainers. Power Grid, Nestle, State Bank of India and Infosys were the laggards.
More shares belonging to companies of the embattled Adani Group have been pledged as security for loans taken by the group's flagship firm, a trustee said. SBICap Trustee in notices to stock exchanges said that a further 0.99 per cent shares in Adani Green Energy Ltd were pledged "for the benefits of the lenders" of Adani Enterprises Ltd. An additional 0.76 per cent shares in Adani Transmission Ltd were also pledged to banks, the trustee said. SBICap, which is a unit of State Bank of India (SBI), however did not give details of the loans taken by Adani Enterprises for which the pledge was created.
>It's not easy to predict the market. But there are at least two positive factors to back the PSU banks, explains Tamal Bandyopadhyay.
rediffGURU Rohit Gupta, co-founder and COO of College Vidya, provides a list of competitive exams that can help you land a job in the public sector.
Dr Manmohan Singh first embossed himself on the national consciousness when as India's finance minister he flagged off economic reforms which changed this nation forever.
More than 58% of individual housing loans disbursed in 2023-2024 were more than 25 lakh in size.
Tamil Nadu-based Lakshmi Vilas Bank (LVB) with pre-independence lineage on Friday lost its identity after its merger with the Indian subsidiary of Singapore's DBS Bank. The debt-ridden 94-year old old bank's fate was sealed with Union Cabinet headed by Prime Minister Narendra Modi approving Scheme of Amalagamation on Wednesday.
