A massive data breach that has implications for national security was unearthed by the Cyberabad Police in Hyderabad, who arrested seven people of a gang allegedly involved in the theft and sale of sensitive data of the government and important organisations, including details of defence personnel as well as the personal and confidential data of about 16.8 crore citizens.
Finance Minister Nirmala Sitharaman is scheduled to meet heads of public sector banks (PSBs) next week to review performance of the lenders and progress made by them to support the economy battered by the COVID-19 pandemic. Banks would be urged to sanction loans for productive sectors to accelerate revival of the economy, sources said. According to sources, the two-day meeting would commence on November 17 and undertake a comprehensive review of various segments, progress in government schemes including Aatmanirbhar Bharat Abhiyan.
Isha was the custodian of the cash at the time it was being placed in the ATM.
The total number of arrests by the CBI has risen to six -- four PNB officials, a retired employee of the bank, and an authorsied signatory of Nirav Modi's company -- after Monday's development.
Without naming either the alleged kingpin of the fraud, billionaire jeweller Nirav Modi, or Punjab National Bank, Jaitley questioned the ethics of some businesses in the country and asked as to why the bank's internal and external auditors could not detect the fraud which had been going on for 7 long years.
It is difficult to say if the banking sector will see the worst behind it by March 2020, warns Tamal Bandyopadhyay.
Three persons have been arrested for the daring broad day light heist in which around Rs 8 crore had been looted in Lajpat Nagar area on New Delhi on Tuesday.
The force will provide security to the high court, district courts, administrative offices and buildings, Metro rail, airports, banks, financial institutions, educational institutions and industrial units. Members of this force can arrest any person without the orders of a magistrate or a warrant.
The Enforcement Directorate has arrested four persons including the MD of the Lava International mobile company and a Chinese national as part of its ongoing money-laundering probe against Chinese smartphone-maker Vivo, official sources said on Tuesday. They identified the four as Hari Om Rai, the MD of Lava International company, Chinese national Guangwen Kyang, chartered accountant Nitin Garg and a person called Rajan Malik. They have been taken into custody under the provisions of the Prevention of Money Laundering Act (PMLA).
Since the bankcuptcy law came into effect from December 2016, with every quarter, the recovery rate has progressively been going down, notes Tamal Bandyopadhyay.
The agency's probe till now found that huge monies were transferred through RTGS transfers to some shell companies including a case where the director of such a firm was a petty labourer
Moody's Investors Service on Wednesday affirmed the ratings of two major Indian IT services companies, Tata Consultancy Services Limited (TCS) and Infosys. In two separate statements, Moody's also retained stable outlook for both the companies. Moody's expects Infosys' revenues to climb by around 13 per cent for the financial year ending March 31, 2023, but moderate to around 8 per cent in the next 2024 fiscal.
Days after the fraud allegedly masterminded by diamantaire Nirav Modi came to light, the prime minister asked the management of financial institutions as well as the supervisory bodies to do their job diligently to check such frauds.
It has been a year since the Reserve Bank of India (RBI) initiated prompt corrective action (PCA), an exercise that puts weak banks under central bank scrutiny, against the 94-year-old Lakshmi Vilas Bank (LVB). But recently, this low-profile Chennai-headquartered bank found itself attracting some unwonted publicity when 60 per cent of its shareholders voted against a proposal to re-appoint seven directors, including one of the promoters, K R Pradeep (who holds around 2 per cent), and the company's managing director & chief executive officer S Sundar.
The move prompted a strong reaction from the Congress, with its state unit chief Ajay Kumar Lallu equating it with the 1919 Rowlatt Act or Black Act and saying that the party will explore legal options to challenge it.
Stalin, along with cadres of the DMK and other parties, came in a procession in Tiruvarur and was detained in a marriage hall, police said, adding they will be let off later.
Five persons have been arrested in this regard in Hyderabad; search is on for 15-Chennai based people.
A former employee of Swiss bank Julius Baer, Rudolf Elmer shot into limelight as a whistleblower in 2008.
Kerala's election discourse operates surreptitiously. Its explicit face focuses on important national and local issues. At the same time, it seeks to secure apt communal equations to ensure votes, notes Shyam G Menon.
Many from this small lender have made it to other bank boards over the past 5 years
The agency has written to the Interpol to issue a Red Corner Notice which would mean that the member countries of the Lyon-based international police cooperation agency can arrest and extradite Nirav Modi
The entire operation was meant to have a chilling effect on independent journalists, those not completely subservient to the regime, the small section still doing what the Fourth Estate should do -- raising questions to those in power.
The CBI has alleged that Singh had transferred funds through hawala channels to Chariot Media that was handling the AAP's publicity campaign during the Goa elections, the officials said.
Analysts say strengthening bank's capital will boost earnings, bank needs chief with long stint to run show
Sharma to step down as Axis Bank chief on December 31.
Total scam in collusion with middlemen is estimated at over Rs 700 crore. Probe is on in 10 more cases.
Earlier, a special CBI court had issued non-bailable warrants against Neeraj Singal, Vice Chairman and Managing Director of Bhushan Steel Ltd, and Purushotam Totlani, an alleged middleman, in connection with the Syndicate Bank bribery case.
Nothing has ever been done to make bank officers accountable, except for the rare actions when there is a public controversy, argues Debashis Basu.
The ED has filed a fresh chargesheet against absconding jeweller Mehul Choksi, his wife Priti and others under the anti-money laundering law in connection with the over Rs 13,000-crore PNB loan fraud case, officials said on Monday. This is the first prosecution complaint filed by the central agency against Choksi's wife Priti Pradyotkumar Kothari. She has been charged by the Enforcement Directorate (ED) with "helping her husband in layering of the proceeds of crime".
Sidharth Narayanan who has spent 15 years in the IT industry, shares his insights from his personal experiences.
The finance ministry is not only keen to split the roles of CMD, but also wants to appoint them for a fixed tenure of five years.
Ten trade unions with a combined membership of 15 crore workers in public and private sector, including banks and insurance companies, are on a nationwide strike to protest against changes in the labour laws.
The Uttar Pradesh police on Thursday arrested five people, including a man who they claimed to be the personal secretary of former minister Swami Prasad Maurya, for allegedly duping unemployed youth on the pretext of giving them government jobs.
The imposing monument of Sardar Vallabhbhai Patel, also called the Statue of Unity, is a major tourist attraction in the state since it was inaugurated in October 2018.
Almost all will say no. Then ask them why they don't push back at those who rise the slogan of Khalistan. Somebody would confront you with a counter-question: If people can talk of a Hindu Rashtra, why get so upset if others talk of a Sikh Nation, points out Shekhar Gupta.
Mumbai police commissioner Param Bir Singh told reporters that a national TV news channel, facing flak over its attack on Mumbai police and Maharashtra government in the Sushant Singh Rajput death case, was also involved in the TRP racket.
Saibaba, an assistant professor of English, was suspended after his arrest by the Maharashtra Police in 2014. His wife and daughters were receiving half of his salary since the arrest.
The issuance of NBWs by a court also opens door of seeking Red Corner notices against both of the accused from the Interpol.
The grief-stricken mother wishes for death penalty for the guilty.
The account turned bad before Chaudhari took over as SBI chairman and the asset was sold to AARC following an open bidding process, months after Chaudhari retired, explains Tamal Bandyopadhyay.
