Those with plans to enter the wealth management business want to first put in place robust processes.
The BJP coined a new word for AAP, 'Aapda (crisis)', which Modi repeated constantly during the election campaign to show how Delhi residents's lives had become miserable under AAP's 11-year rule.
A special PMLA court here on Wednesday granted bail to Yes Bank founder Rana Kapoor, businessman Gautam Thapar and seven others in a case pertaining to the sale of a property at a prime location in Delhi. Kapoor and Thapar, however, will not walk out of jail as they are in judicial custody in connection with some other cases. The present case pertains to allegations in the sale of a property situated on Amrita Shergill Marg in Delhi to a company owned by Rana Kapoor's wife, Bindu Kapoor, for which a separate FIR had been registered by the Central Bureau of Investigation (CBI) in Mumbai last year.
'The Modi government has been taking credit for improvement in respect of the ease of doing business in India.' 'But when I look at the scams I cannot help feeling that it is too easy to do business with banks in India, if one is a Harshad Mehta, Vijay Mallya or Nirav Modi and their tribe,' says former Union home secretary Madhav Godbole.
US President Donald Trump signed an executive order directing the Department of Justice to pause enforcing a nearly half-century-old law that was used to launch a bribery investigation against the Adani Group. Trump signed an order to pause enforcing of the 1977 Foreign Corrupt Practices Act (FCPA) that prohibits American companies and foreign firms from bribing officials of foreign governments to obtain or retain business.
Trump signed an order to pause enforcing of the 1977 Foreign Corrupt Practices Act (FCPA) that prohibits American companies and foreign firms from bribing officials of foreign governments to obtain or retain business.
Modi accused the JMM, Congress and RJD of using Bangladeshi infiltrators for "vote bank politics," facilitating their settlement in Jharkhand, which is a threat to the state's social structure.
The National Financial Reporting Authority (NFRA) will invite public comments on the revised International Standard on Auditing 600 (ISA 600) proposed to be adopted by publicly listed companies and non-public-sector banks, sources close to the development told Business Standard. The decision to take this "graded approach" for the adoption of the ISA, which is meant to rein in auditors often found hiding behind the audit reports signed off by subsidiary companies, was taken at a meeting of various financial sector regulators at NFRA's board meeting on Monday (August 26). The idea behind upgrading the Standards of Audit 600 currently followed by Indian auditors to ISA 600 is to plug current gaps, which have led to major audit lapses in the recent past.
Gujarat State Co-operative Bank, the apex co-op bank in Gujarat, has already hiked salaries by 16 per cent, said Shailesh Shah, General Secreatary, Gujarat State Co-operative Banks' Employees' Federation. The bank has a workforce of 237 employees. Ahmedabad Co-operative Bank too has given Rs 1600 hike to their employees.
The upcoming Delhi Assembly elections are set to be a thrilling contest between the ruling Aam Aadmi Party (AAP), the resurgent Bharatiya Janata Party (BJP), and the Congress. The BJP is focusing on its "Parivartan" (change) slogan and a targeted campaign against AAP over corruption allegations, while AAP is highlighting the credibility of its leader, Arvind Kejriwal, and his promises to deliver on his promises. The Congress, seeking to reclaim its lost footing in the national capital, is also campaigning with a renewed vigor.
'During his stint as prime minister, he got 270 million people out of poverty.' 'This, according to the World Bank, is the fastest compression of poverty anywhere in the world.' Arvind Mayaram, the former finance secretary, recalls his encounters with Dr Manmohan Singh.
At present, bank depositors get an insurance cover of Rs 1 lakh on their amount by the Deposit Insurance and credit Guarantee Corporation.
'If you give your ID and password to somebody else, how can anybody blame the technology for that problem?'
The senior IPS officer said that 45 percent of cyber financial frauds taking place in the country are originating from the South East Asia.
Money mule scam has put bankers on alert. Banks have decided to sensitise their customers against phishing and money mules. At a meeting held at the Indian Banks' Association on Wednesday, leading banks, including ICICI and HDFC, have decided to send communications to customers in this regard.
According to a complaint from Bank of Baroda, the conspirators allegedly cheated a consortium of bank loans of Rs 3,695 crore. The scam was earlier estimated at around Rs 800 crore.
The case against Balaji and his aides pertains to his tenure as the state transport minister in the All India Anna Dravida Munnetra Kazhagam government during 2011-15.
Proceeds of the crime had been siphoned off and laundered or concealed, or layered and integrated into the main financial system through the acquisition of properties. His wife Bindu Kapoor has been charged with being aware of the source of monies that were being routed through these companies.
Gandhi also labelled Mann Ki Baat a monologue.
Two persons arrested by the Central Bureau of Investigation in connection with the multi-crore Madhavpura Mercantile Co-opertive Bank scam were remanded to CBI custody till June 17
The agency on Monday questioned three general managers of the Punjab National Bank who have handled the -International Banking Division and Treasury department of the bank, officials said without revealing their identity.
'Some of the astounding proposals, if translated into statutory provisions, would be suicidal.' 'This would not be a wonder cure for increasing insurance penetration and only result in mushrooming growth of players like paan kiosks with deleterious consequences.'
Digital house arrest is a tactic where cybercriminals confine victims to their homes in order to scam them. The offenders generate fear by making audio or video calls, frequently posing as law enforcement officers using AI-generated voices or video technology.
Markets regulator Sebi has ordered the attachment of bank accounts and shares and mutual fund holdings of fugitive businessman Mehul Choksi to recover dues totalling Rs 5.35 crore. The latest decision has been taken after Choksi failed to pay the fine imposed on him in October 2022 by Sebi in a case pertaining to indulging in fraudulent trading in the shares of Gitanjali Gems Ltd. Choksi, who was the chairman and managing director as well as part of the promoter group of Gitanjali Gems, is the maternal uncle of Nirav Modi, both of whom are facing charges of defrauding state-owned Punjab National Bank (PNB) of more than Rs 14,000 crore.
A SIT has begun process to freeze bank accounts of arrested accused in the Bihar toppers scam. M I Khan/Rediff.com reports from Patna.
The move will avoid hoodwinking the system and reduce the blind spots, which will ultimately lead to protection of depositors' money.
Christmas romance, heists, thrillers, it's all there on OTT this week. Sukanya Verma lists her recommendations.
Banks and housing finance firms may seek legal mortgage as well as completion guarantee clause.
Atishi alleged that the BJP received "proceeds of crime" in its bank accounts
What stood out in his 15-year journey as a member of the political executive at the Centre was his glowing record as India's most successful and effective finance minister. Both as prime minister and finance minister, he understood the importance of gradualism, except when the economy or the polity was in a crisis.
The amounts were transferred from HDFC Bank to BoB.
Hyderabad police on Thursday arrested two senior executives of scam-hit Karvy Stock Broking Pvt Ltd for allegedly involving in diverting funds raised from banks by pledging clients' securities as collaterals. According to a police press release, Rajiv Ranjan Singh, chief executive officer and G. Krishna Hari chief financial officer of Karvy were arrested basing on a complaint by IndusInd bank.
The central agency asked Banerjee to appear at its Kolkata office on Friday morning, he said.
The syndicate used "stooge" bank accounts and shell companies to transfer the largest amount linked to a single case recorded in the city, the Customs and Excise Department of Hong Kong said.
The top court said it cannot order a roving inquiry into purchase of electoral bonds on the assumption that it was quid pro quo for award of contract.
CBI has registered a case against general secretary of Mumbai BJP Mohit Kamboj, his jewellery manufacturing firm Avyaan Overseas, its directors, few mid-level bankers and others for alleged diversion of funds by availing fraudulent foreign bills negotiation limit and export packaging credit limit, issued by lender Bank of India between 2013 and 2018.
The government has initiated a forensic audit at the state-run Oriental Bank of Commerce and Dena Bank after unearthing of a suspected scam, wherein the lenders allegedly misappropriated funds worth Rs 436 crore from their fixed deposit customers.
He is expected to be produced before a special Prevention of Money Laundering Act court on Saturday where the ED will seek his remand for custodial interrogation.
