The decision to do away with Rs 500 and Rs 1,000 notes accelerated the slowdown in economic activity with growth averaging 6.8 per cent in the seven quarters after it, as against an average of 8 per cent in the six quarters preceding it, says former chief economic advisor Arvind Subramanian.
Besides 15 loan transactions to the Siva group of companies, the former directors also used unique methods to ensure the group did not get into the default list.
'I have been most pained at being painted as an absconder'.
The banks have asked the court to demand his return and to impound his passport.
Tokenisation acts as an additional layer of security as it masks sensitive card data such as the 16-digit account number, expiry date and security code. However, the security level of the app and the customer's mobile itself also needs to be taken into consideration, say experts. Nikhat Hetavkar explains the whole idea of tokenisation, how it is enabled, its impact on card transactions and related security guidelines.
The judge, during arguments, said it was "blindingly obvious" that "rules were broken by the bank" and that they had "gone against their own guidelines" in extending a loan to the business tycoon's now defunct Kingfisher Airlines.
'When an institution believes its knowledge and capability is superior to everyone, it behaves like a frog in the well.' 'And this is precisely the cause for the mess,' says J N Gupta.
Judge Andrew Henshaw refused to overturn a worldwide order freezing Mallya's assets and upheld an Indian court's ruling that a consortium of 13 Indian banks were entitled to recover funds amounting to nearly $1.55 billion.
The deadline for officers to decide on their career path in the biggest organisational rejig in the central bank's 85-year history ends on January 31. The immediate fallout could be its disruptive impact on the supervisory process for 2020 -- and beyond -- given the manpower shortfall, even as more entities are set to come under closer central bank scrutiny.
'It has also saved the government about $ 9 billion in fraud and wastage because by having that unique number you eliminate fakes and duplicates from your beneficiary and employee list,' Nilekani said at an event on the sidelines of the annual meeting of the International Monetary Fund and the World Bank.
The 63-year-old former Kingfisher Airlines boss, an avid cricket fan, is wanted in India on fraud and money laundering charges amounting to an alleged Rs 9,000 crores.
The ED has claimed that Nirav Modi had refused to join the probe despite acknowledging mails and summons issued to him and that he doesn't want to return to India.
A direction by Chief Justice of India S A Bobde, Justice B R Gavai, and Justice Surya Kant to the Karnataka high court asked the latter to expeditiously settle the matter of assets deposited before it by Mallya for liquidation, and thereby payment to creditors 'preferably not later than three months'. It will be interesting to see the view of the London high court, if the settlement of his dues to Indian creditors is imminent, reports Ashis Ray.
Confiscation of the tycoon's properties will start from February 5.
The RBI view comes within a fortnight of the sectoral regulator FMC in a report stating that the promoter Shah and promoter company Financial Technologies are not eligible to run the crippled exchange, an order challenged by the group in the Bombay High Court.
RBI governor on the stress in public sector bank due to NPAs, and what is needed to be done to get the system back on track.
Lenders get a clear idea about your financial health, risk profile and personality trait
'When the country is jobless, why should I pay through my nose to feed these people who want some perks in office?' 'Let them also join India's unemployed.' 'Let them also taste the bitter medicine of being jobless.'
As part of their deal Diageo agreed to pay Mallya, $75 million for stepping down as chairman of United Spirits and for entering into a non-compete pact
Why doesn't anybody ask the PSU State Bank of India under RTI on how much they are spending on legal fees trying to recover money from me in the UK when I have offered 100 per cent payback in India, asked Mallya.
Doubts about Force India being able to race at Spa, the first Grand Prix since the August break, emerged on Wednesday with reports of legal complications.
'NiMo having skipped, the next best bet is a high-profile banker.' 'Ms Usha happens to be in the wrong place at the wrong time.' 'Ms Usha's crime? That's as thin as it gets.'
There has been speculation within Formula One that Lawrence Stroll, the billionaire father of Canadian driver Lance, is willing to invest in Force India as part of a move for his son from Williams.
Jaitleysaid Mallya misused his position as an MP to accost him once in Parliament.
SBI approaches Karnataka HC to arrest Mallya, impound passport, disclose full assets
India's investigating agencies have in the past made a lot of noise about probes that resulted in few convictions
Government's move to hire UK arbitrator follows poor track record of India in extraditing offenders from Britain
'... not even a moral one, let alone a legal one.' 'Even if it is assumed that Deepak Kochhar tried to influence his wife into doing something dodgy for his 'social acquaintance', why would she do it?' 'By all accounts she has been granted share options in ICICI Bank of a very substantial amount which easily makes her a multi billion-pati.' 'She did not become CEO against some stiff competition by being stupid and concocting devious cock-and-bull renewable energy stories.' S Murlidharan, former managing director, BNP Paribas, unravels the Deepak Kochhar-Videocon controversy.
California-based Mendocino Brewing Company, which sells a number of beer brands including Kingfisher in the US, has got Mallya as its chairman and is owned by UB Group through a complex shareholding structure
The Congress said arrogance of the BJP has touched its zenith as it turned 'blind' to farm distress.
'Everyone knows that you including your son won't be able to spend all the wealth that you have earned then why not at least pay the salaries of your employees,' the letter said.
For stressed loans, the need is to prevent disruption in cash flows from a systemic perspective, conserving employment and assets in untainted enterprises with the potential for recovery, says Shyam Ponappa.
Speaking to reporters Mallya said, "It will all become clear in court".
Salaried individuals may not need to file revised returns as they have only one source of income and there are lesser chances of erring while filing returns
If you want to keep your CIBIL Score alive and kicking (healthy) make sure you steer clear from the above mentioned common credit score killers.
Mexican Formula One driver Sergio Perez described his Force India team's financial situation as 'critical' on Thursday, and recognised that his own future remained uncertain.
The high court imposed various bail conditions on him, including that he shall not tamper with the evidence or influence witnesses, directly or indirectly.
The Congress chief alleged that in the 2016 demonetisation exercise, black money became white, nobody went to jail and contrary to the BJP's promise, no one received Rs 15 lakh in their bank account.
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