The Enforcement Directorate on Thursday said it has frozen assets worth Rs 143 crore of prominent Kerala-based NBFC Manappuram Finance Ltd's MD and CEO V P Nandakumar after it conducted raids as part of a money laundering investigation. A total of six premises in Thrissur, where the company is headquartered, were covered during the searches that were launched on Wednesday. The case pertains to allegations of money laundering through "illegal" collection of deposits from the public, the agency said in a statement.
SBI has announced an investment of Rs 7,250 crore in Yes Bank through the acquisition of 725 crore shares at Rs 10 each.
The governance reforms, as an official put it, would bring in measures to track the performance of the executive-rank employees of the banks, intensively.
Ahead of a crucial meeting on Jammu and Kashmir, National Security Advisor Ajit Doval on Thursday met Union Home Minister Amit Shah and is believed to have discussed the security situation in the Union territory which has witnessed a spate of targeted killings since May 12.
So how is it going to affect the common citizen?
The comments come about a week after PSU bank employee unions went to a four-day relay strike to press for early revision of wages.
Branch additions for most major banks in the current financial year do not correspond to the number of the past two years.
The Reserve Bank of India proposes to keep a tab on bank employees in the wake of the recent cases of technological mishaps resulting in employee-induced financial as well as reputation losses to institutions.
The endless wait to get valid currency notes was also taking a toll on people waiting for hours in long queues as there were reports of many elderly people collapsing out of fatigue.
The Reserve Bank on Monday asked all banks and financial institutions to assess the impact on their balance sheet, asset quality, liquidity, among others, in the wake of the potential threat arising out of the spread of coronavirus disease in India. Several confirmed cases have also been detected in India, which highlight the need of a co-ordinated strategy for handling the emerging situations to protect the resilience of the Indian financial system, RBI said in a notification addressed to banks, urban cooperative banks, NBFCs, payment and small finance banks.
As a result of the strike, cheques amounting to Rs 3000 crore (Rs 30 billion) were pending clearance. Inter-bank transaction through RTGS was also brought to a halt, the statement said.
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Banking services were affected on Friday as employees of public sector banks struck work demanding compassionate appointments, fresh recruitments, one more pension option and ban on outsourcing and merger of public sector banks.
'He said the N D Studios wasn't functioning, shootings were not happening.'
Several arrests have been made so far in the case. The main accused, Ranjit Don, is also in CBI custody.
'Let them put their house in order first.' 'Let the RBI first rectify themselves.'
