Factors like dedicated recovery teams, centralised follow-up on bad loan accounts and resolutions via NCLT are driving the trend
Experts say the recent Rs 14,000-crore PNB fraud could have been avoided had there been an integration of PNB's CBS with its SWIFT system
Prime Minister Narendra Modi on Thursday slammed the opposition alliance INDIA as a collection of arrogant dynasties who will take India back by two centuries as he exuded confidence that people will bless the "garib ka beta" with a record-breaking mandate in the 2024 Lok Sabha polls.
Sharad Pawar has left the door open for his nephew's return by not suspending him from the party for his rebellion.
'Under Modi Ji's 'Jan Dhan Loot Yojana', another scam!' he tweeted.
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Banks had a tough time in recovering loans from corporates in 2014.
The money mule scam has reached Indian shores. Banks have noticed instances of fraudsters based overseas, posing as global payment companies, luring gullible people into joining them as "money transfer agents" and using their bank accounts to route ill-gotten money.
The banking sector's credibility is on thin ice. Unless the government takes strict steps, things could get worse.
It was a multi-million rupee scam whose extent and reach are still being unravelled, so why did the chief of the scam-tainted Saradha group Sudipta Sen plead that he was unable to pay Rs 30,000 as bail fee? Where could all the money have gone? Indrani Roy finds out.
There is no dearth of political will today to act against corruption and officers should take action against the corrupt, however powerful, without any hesitation, Prime Minister Narendra Modi said on Monday.
Look carefully at any ad or pop up that tempts or attracts you with freebies and offers etc. It could be a scam, warns Niranjankumar Upadhye.
Bankers seem to be pleased with the government for keeping its promise of not interfering in operational matters, but are apprehensive about the intense scrutiny of their functioning.
The probe is expected to take about three months.
'It can't be a coincidence that he and his family, uncles and all, vanished from India only days before the scam was discovered.'
There was a massive 24% decline in India's gems and jewelry exports to $2,321 million for September 2018 as against $3,053.38 million in the same period last year.
The latest fraud is a failure of management supervision and accountability, as no bad debt was generated and no cash was involved
The Enforcement Directorate has asked sacked Commonwealth Games Organising Committee Chairman Suresh Kalmadi to give details about his bank accounts, investments and other property related information in connection with its probe into the multicrore CWG scam.
If credit card delinquency spells trouble, there may be questions with regard to the much bigger retail sub-categories of car and housing loans, notes T N Ninan.
He claimed that Bharatiya Janata Party people were alerted beforehand about the demonetisation. "How can one explain the BJP people in West Bengal depositing crores in high-denomination notes just before PM's announcement on November 8?" Rahul asked. "BJP workers were seen holding up bundles of the new Rs 2000 notes, as seen from images on the Internet, before Modi announced this decision," he told reporters in suburban Bandra.
The government said on Thursday that it was committed to demutualisation and corporatisation of stock exchanges to prevent recurrence of securities scams.
Tuesday was the 12th day in a row that Parliament did not functioned and the current stalemate has entered the third week.
'Modi wants to reverse everything Nehru did, but is shy of touching his daughter's most unwise policies.' 'There is no example of this more stark than bank nationalisation,' says Shekhar Gupta.
India has moved up in rankings from ninth to the fourth spot this year in the tally of top 20 countries affected by spam calls, owing to a significant increase in sales and telemarketing calls, as per a report by Truecaller. This year, all categories of sales-related calls made up a vast majority (93.5 per cent) of all incoming spam calls. Interestingly, over 202 million spam calls were made by just one spammer in India this year between January to October - which is over 6.64 lakh calls every day and 27,000 calls every hour of every day.
India looking at bringing back Choksi under Antiguan law applicable to Commonwealth countries
The Reserve Bank of India's ongoing inspection of the book of accounts of Syndicate Bank is unconnected with last week's arrest of S K Jain, its chairman and managing director.
The Jalan panel has recommended to the RBI to keep shady entities out of banking licence race.
The move takes the process of extraditing and bringing back Nirav Modi to face the law in India to the next stage, the sources said.
The Enforcement Directorate questioned Trinamool Congress MP and actor Mithun Chakraborty in connection with the multi-crore Saradha chit fund scam.
The second leg of the budget session is of 23 days and all 14 days so far have been wasted.
The Enforcement Directorate (ED) has begun the process of freezing at least five bank accounts of Arpita Mukherjee, the associate of arrested West Bengal minister Partha Chatterjee, where they have found at least Rs 2 crore, a senior official said on Saturday.
'Of the 202 debates, 79 were around attacking Pakistan and 66 attacking the Opposition and Nehru.' 'The PMC Bank scam where thousands of depositors lost their savings got just one,' points out Vanita Kohli-Khandekar.
Choksi has appealed to the Interpol to not issue an RCN against him as the charges are politically motivated, officials said
The attachment is linked to a money laundering probe linked to a Rs 1,034 crore worth land 'scam' related to the re-development of a 'chawl' in Mumbai.
Prompt measures and legal actions taken by the Indian government and PNB helped in securing the extradition of diamantaire Nirav Modi by the UK on Friday, a senior official said. UK Home Secretary Priti Patel on Friday signed off on the order to extradite Nirav Modi, wanted in India on fraud and money laundering charges related to the estimated USD 2-billion Punjab National Bank (PNB) scam case. According to the government official, a scam of this magnitude had potential to create instability in the financial sector but the deft handling saved the entire public sector banking space from the crisis and litigation.
Pawar, who was also the deputy CM in the previous Uddhav Thackeray-led Maha Vikas Aghadi (MVA) government, which was in power from November 2019 to June 2022, enjoys the image of a grassroot leader and an able administrator.
District Judge Marie Mallon said there were substantial grounds to believe that Nirav Modi would fail to surrender if granted bail.
RBI seeks detailed report on what happened between 2011 and now; bankers to recall loans to Nirav Modi entities.
