Historically, the RBI has tried to keep the crooks at bay by issuing a circular a day. What it needs is more onsite supervision. Merely checking high-frequency data with the help of technology is insufficient, notes Tamal Bandyopadhyay.
Fintechs need to behave with responsibility and transparency. A lot of mis-selling has been happening. Other issues have been plaguing the fledgling industry -- high interest rates, even higher processing fees, harsh collection process and, most critically, data leakage leading to rampant frauds, points out Tamal Bandyopadhyay.
The United States has imposed sanctions on two individuals linked with the Taliban and the Haqqani network, the US Department of Treasury has said.
A foreign national has been arrested by Pakistani security agencies in connection with the car bomb blast outside the house of the 2008 Mumbai terror attack mastermind and chief of the banned Jamat-ud-Dawa (JuD) Hafiz Saeed in Lahore, according to media reports.
Tightening its noose around the Lashkar-e-Tayiba, the United States has added its affiliates, including the Jamaat-ud-Dawa, to its list of designated terror organisations and slapped sanctions against two Pakistan-based LeT leaders.
The United States has labelled a Pakistan-based money changer as a "global terrorist" for providing financial services to the banned Lashkar-e-Tayiba terror group that has been involved in a series of terrorist attacks in India, including the 2008 Mumbai attacks that left 166 people dead.
Technical fault was the reason behind it.
While the tax treatment does legitimise past crypto transactions, there is a possibility that any, or all, private cryptocurrencies will be banned in future.
Park is charged with one count of conspiracy to commit computer fraud and abuse and one count of conspiracy to commit wire fraud.
A summary of sports events and persons who made news on Thursday
Saeed's arrest is also being seen as a pressure on Pakistan in connection with its commitment to the Financial Act Task Force whose next deadline is in October.
Former chief minister Jagannath Mishra was also found guilty in the case pertaining to fraudulent withdrawal of Rs 37.62 crore from the Chaibasa treasury in the 1990s.
United States Secretary of State Hillary Clinton in concert with Treasury Secretary Timothy Geithner and Attorney General Eric Holder on Wednesday amended the foreign terrorist organisation designation of the Pakistan-based Lashkar-e-Tayiba in order to include one of the terror group's front organisation and a charitable arm of it as part of the FTO designation too.
On the eve of United States President Barack Obama's maiden visit to India, the US Treasury on Thursday targeted the financial and support networks of the Lashkar-e-Tayiba and Jaish-e-Mohammed and also took action against Azam Cheema, who helped train operatives for the November 2008 Mumbai attacks and was the "mastermind" behind the July 2006 Mumbai train bombings carried out by LeT.
The US has slapped additional tough sanctions on Russia's financial services and energy sectors for the failure of Moscow to taken enough steps to address the volatile political situation in Ukraine.
Women dominate Indian banks's clerical and officer rolls, but few make it to the executive office these days, notes Tamal Bandyopadhyay.
United States President Joe Biden has nominated Indian-American lawyer and rights activist Kiran Ahuja to head the Office of Personnel Management, a federal agency that manages America's more than two million civil servants.
The quantum of punishment will be announced on January 3, 2018.
On November 10, the US Federal Reserve had approved the application of credit card major to become a bank holding company and the change in status facilitated American Express to explore various government funding and lending programmes. In return to the said loan, American Express will issue and sell preferred stock of about $3.39 billion and warrants to purchase shares of common stock for up to 15 per cent of that amount to the Treasury.
With this the federal exchequer has so far received a total of $116 billion of its bailout money.
A summary of sports events and persons who made news on Saturday
Pakistani security agencies on Thursday arrested two suspects involved in the car bomb blast outside the house of the 2008 Mumbai terror attack mastermind and chief of the banned Jamat-ud-Dawah (JuD) Hafiz Saeed, an official said.
The Obama administration continued to tighten the noose around the Pakistan-based, Inter Services Intelligence-supported terrorist organisation, the Lashkar-e-Tayiba -- responsible for the horrific 26/11 Mumbai terror attacks -- by sanctioning two of its leaders and founding members Zafar Iqbal and Hafiz Abdul Salam Bhuttavi.
"Make no mistake: whatever LeT chooses to call itself, it remains a violent terrorist group. The US supports all efforts to ensure that LeT does not have a political voice until it gives up violence as a tool of influence," said Nathan A Sales, Coordinator for Counterterrorism at the Department of State.
The key threats seen during this period ranged from phishing attacks to rogue apps disguised as COVID-19 information apps that targeted users sensitive data.
Summers dogged by controversies over past views
The Taliban's main challenge comes on the financial and economic front and there Pakistan doesn't have the capacity to be of any meaningful help, observes Ambassador M K Bhadrakumar.
A former top executive of Citigroup has been charged for allegedly siphoning off more than $19 million from the bank, the latest in a string of frauds that have come to light at the global banking giant.
'If Kerala votes back the LDF, if Tamil Nadu brings the DMK and if Bengal votes for the Trinamool, we will project a formidable opposition to the BJP.'
In a setback to telecom service providers, the Supreme Court on Thursday allowed the Centre's plea to recover adjusted gross revenue (AGR) of about Rs 92,000 crore from them.
The United States will soon impose more sanctions on Syria in response to a chemical attack blamed on President Bashar al-Assad's regime after an "overwhelming" successful military operation, the Trump administration officials said on Saturday.
Linking all new floating rate loans to an external benchmark won't impact existing borrowers, so customers who have taken long-term home loans recently should watch things carefully, say Joydeep Ghosh and Sanjay Kumar Singh.
A summary of sports events and persons who made news on Wednesday.
If a salaried employee does not possess Form 16, he can still file the I-T Return with the help of his salary slips and Form 26 AS.
To attack the financial underpinnings of Taliban militants, the United States on Friday slapped sanctions against a pair of informal money-exchange networks in Afghanistan and Pakistan for alleged terrorist financing.
The United States has slapped sanctions on three Pakistan-based "terrorist facilitators" for helping the Taliban and other militant groups in Pakistan, Afghanistan and Uzbekistan, including one man linked to a failed car bomb attack in New York in 2010.
M C Mary Kom managed to surpass even herself, obliterating everyone and everything else along the way in a tumultuous year for the sport.
GST rate cut for real-estate, income transfer scheme, farm loan waivers execution and recapitalisation of PSU banks have the potential to boost India's growth in a few months, says Neelkanth Mishra.
'If the Congress wants to keep the ship afloat, it will have to bury the differences.'
The United States on Tuesday slapped sanctions against underworld don Dawood Ibrahim's two top aides -- Chhota Shakeel and Tiger Memon -- for their role in drug trafficking in the region.
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