The speech he gave in which he accused the Congress of getting black money in tempos from Ambani and Adani is remarkable.' 'It is a self-goal for sure, but indicates someone who has lost control, someone who is rattled.'
'Suddenly we had a new comprehension of affairs, which reminded that the luxury of politics floated atop a foundation by economics.' 'Along with this, finance ministers became crucial in molding the perception and reputation of Union Cabinets.' 'Governments couldn't afford a wrong person in that portfolio,' asserts Shyam G Menon.
The CBI has been carrying out searches at various locations for the past few days to locate assets acquired from the proceeds of the scam, officials said.
Total scam in collusion with middlemen is estimated at over Rs 700 crore. Probe is on in 10 more cases.
Bank chairman and former president of the Maharashtra Cricket Association Dnyaneshwar Agashe, his son Ashutosh, wife Rekha and 12 others on the board of directors were taken into custody. The police said that the 15 accused along with six others allegedly misused their rights and sanctioned loans mostly to firms owned by themselves and then defaulted the loans, thereby duping the depositors.
Delhi faces a severe financial crunch and the deficit is largely due to numerous welfare schemes without adequate revenue flowing in. The success of welfare schemes and electoral promises will need careful financial planning and out of the box thinking to whip up additional revenue, notes Ramesh Menon.
The ruling Congress is seeking to retain power in Chhattisgarh by banking on the welfare schemes of the Bhupesh Baghel government, while the Bharatiya Janata Party is hoping to corner it on the issues of alleged corruption, religious conversions and unfulfilled poll promises.
Fraud-hit Punjab and Maharashtra Cooperative (PMC) Bank on Tuesday invited expression of interest (EoI) from potential investors for investment or equity participation in the bank for its reconstruction. Subsequent to commencement of the normal day-to-day operations, it will be open for the investors to convert the bank into a small finance bank by making an application to the RBI, the lender said.
For Indian parents, sending a child abroad for a three-year degree could deplete 48% of their retirement savings, while a four-year degree may consume up to 64%.
For the baning sector, 2018 was a 'Year of Exits' - borrowers fled from the country as loans went kaput and many bank CEOs were forced to leave
Crypto currency platform WazirX, a cyber-attack on July 19 this year in which nearly 40 lakh Indians have suffered a loss of to a tune of $230 million or Rs 19.12 billion, has moved the Singapore high court seeking a moratorium in any legal action against it and for legal protection.
The Bharatiya Janata Party and the Congress remain the most dominant political forces in Chhattisgarh, though the state has several regional outfits that have pockets of influence, while the Aam Aadmi Party (AAP) is making a determined bid to challenge its well entrenched rivals and make a mark in polls to the 90-member House.
Union Finance Minister P Chidambaram said in the Lok Sabha the Reserve Bank of India and the Securities and Exchange Board of India have taken up corrective measures in the IPO scam.
He asserted that it was time to "throw such forces out" to protect "mati, beti, roti" (land, daughter, bread).
A bench comprising Justices Sanjiv Khanna and Dipankar Datta took note of the submissions of lawyer Prashant Bhushan, appearing for NGOs 'Common Cause' and the Centre for Public Interest Litigation, that the plea needed to be listed for hearing at the earliest.
The CBI has filed a charge sheet against former Chief Executive and Managing Director of Yes Bank Rana Kapoor as well as Avantha Group promoter Gautam Thapar in the Rs 466.51 crore alleged fraud in the bank, officials said. Kapoor was not named a suspect in the FIR registered on June 2 last year in the case. His role, however, surfaced during the investigation, they said.
The court on September 3 asked the SIT to submit its fresh report.
"Remember, the IT Department and the ED implement the Pradhan Mantri Hafta Vasuli Yojana. The State Bank of India implements the #ElectoralBondScam. And at the end of the day, all of these institutions report to the same person: the Finance Minister," Ramesh alleged.
'If you want to win you need to perform.' 'Governments have found a way to buck anti-incumbency, but one policy intervention will not pay in all elections.'
Complainant KK Mishra -- chairman of the MP Congress's media department -- has now moved the high court against the delay in the grant of sanction.
Did the fear of central agencies probing scams involving NCP leaders that forced these politicians to jump ship?
The rest, investigators claimed, were floated as "dummies" to act as cover for unleashing the alleged ponzi scheme.
Amid concerns over misleading claims of huge returns on cryptocurrency investment, Prime Minister Narendra Modi on Saturday chaired a meeting on the way forward on the issue, with government sources asserting that such unregulated markets cannot be allowed to become avenues for "money laundering and terror financing".
'This issue is related to national security because they were compromising the entire capital markets's core infrastructure by leaking confidential information.' 'What would have happened if the servers had come down?' 'Or some confidential information leaked to terrorists who could have knocked out our capital market?'
Enforcement Directorate officials on Sunday detained Shiv Sena leader Sanjay Raut in connection with the Patra Chawl land scam case in Mumbai after hours of conducting raids at his residence.
Chanda Kochhar, who was arrested for a cash-for-loan scam on Friday, was once a powerful banker and instrumental in making ICICI Bank the country's biggest private sector lender. Kochhar, a regular feature on Forbes top global honchos lists, was arrested by the Central Bureau of Investigation (CBI) along with her husband Deepak Kochhar in connection with alleged cheating and irregularities in loans sanctioned by ICICI Bank to Videocon Group companies. Kochhars were called to the agency headquarters and arrested after a brief questioning session. Her chapter at ICICI Bank ended abruptly in 2018 when the board of directors approved a request from Kochhar to seek early retirement following allegation of corruption and quid pro-quo while extending loans to the now bankrupt Videocon Industries.
'The PM teaches children how to take exams for 1.5 hours, but fails to tell the country on who is responsible for PNB scam'
Liquor businessman Magunta Sreenivasalu Reddy (a TDP MP) met Kejriwal on March 16, 2021 in his office at the Delhi Secretariat and requested him to provide support in his liquor business in the national capital by tweaking the Excise Policy 2021-22 which was then in the making, the agency said in its chargesheet against K Kavitha.
The problem here is that internal auditors are good at accounts, but they are not trained to track foreign exchange transactions
Indians are more vulnerable to technology support-related scams compared to the global average, and lost over Rs 15,000 on average in such scam, a Microsoft research has found. According to the 2021 Global Tech Support Scam Research report, which looks at tech support scams and their impact, consumers in India experienced a relatively high scam encounter rate of 69 per cent during the past 12 months, close to the 70 per cent rate experienced in 2018. In contrast, there was an overall five-point drop in scam encounters globally with a rate of 59 per cent over the same period. The survey was conducted in Spring 2021 and asked consumers to share their experiences with tech support scams for the year prior (January 2020 to present).
The size of the scam is about Rs 15,000 crore, as per the first information report (FIR) registered by the police in the case.
The name of fugitive diamantaire Mehul Choksi wanted in a Rs 13,000-crore scam in the Punjab National Bank is understood to have been removed from the Interpol database of Red Notices on the basis of his plea to the Lyon-headquartered agency, people in the know of the development said. The Central Bureau of Investigation (CBI) remained tight-lipped on the development. The Red Notice is highest form of alert issued by the 195-member country-strong Interpol to law enforcement agencies worldwide to locate and provisionally arrest a person pending extradition, surrender, or similar legal action.
The Enforcement Directorate questioned former Jammu and Kashmir chief minister Omar Abdullah for five hours on Thursday in connection with a case related to the purchase of a building by the J&K Bank about 12 years ago when he was in office, officials said in New Delhi.
The Reserve Bank of India also banned with immediate effect issuance of letters of comfort which, like LoUs, are used by importers to fund their overseas purchases.
State-run Bank of Baroda and Oriental Bank of Commerce are among those facing scrutiny.
'More investors now view the stock market as a valuable opportunity, though many still seek quick gains, leading to a rise in futures and options trading.'
The statement of Sunny Marwah, an accused in the Delhi excise policy case, has been recorded and he has given important information about the modus operandi of those named in the first information report (FIR) in connection with the liquor 'scam', Central Bureau of Investigation (CBI) officials said on Monday.
Subhash Shankar Parab, a key accused in the Rs 7,000 crore diamantaire Nirav Modi bank fraud case, was "deported" from Cairo on Tuesday after a long diplomatic and legal process, officials said in New Delhi. A CBI team had gone to Egypt's capital to bring back 50-year-old Parab, who was allegedly kept in illegal confinement in a Cairo suburb by Modi, the fugitive diamantaire, they said. The CBI had been chasing Parab, deputy general manager (finance) in Modi's Firestar Diamond and understood to be a key witness to the Letters of Undertaking (LoU) submitted to the Punjab National Bank (PNB) to siphon off over Rs 7,000 crore, they said.
There was no smooth surge in middle class prosperity for foreign businesses to tap into because of the Indian economy was mismanaged, argues Debashis Basu.
Niranjan Upadhye, general manager, fraud risk management, Worldline India, tells you how to quickly spot a scam and save yourself from grief.
