Claiming that a specific alert was issued to the Bihar government about Narendra Modi's rally in Patna, the Bharatiya Janata Party on accused the Nitish Kumar government of lapses that led to serial blasts and charged it was soft on terror due to vote-bank politics.
The cases under scanner include significant loan exposure of the bank to Videocon way back in 2012 and the alleged involvement of the Kochhar family in restructuring of that loan.
'For years, the RBI has been warning banks on probable frauds in bank guarantees and advised them to exercise due care.' 'PSB staffers feel their jobs are secured, hence there is no need to be vigilant and exercise financial prudence.'
State-run Bank of Baroda and Oriental Bank of Commerce are among those facing scrutiny.
The incidence of corruption cases can be checked to a large extent if the suggestions already available with RBI and the government are taken seriously, says Shyamal Majumdar.
Capital markets regulator Sebi on Thursday sent a notice to NSE's former chief Ravi Narain, asking him to pay Rs 2.06 crore in a case related to governance lapses at the stock exchange, and warned of arrest and attachment of assets and bank accounts if he fails to make the payment within 15 days. The notice came after Narain failed to pay the fine imposed on him by SEBI (Securities and Exchange Board of India). The regulator, through an order passed on February 11, levied a fine of Rs 2 crore on Narain in the matter of governance issues over the appointment of the chief strategic officer at the stock exchange in 2013.
Vodafone Idea's (Vi's) search for a lifeline has turned longer and tougher even as it continues to lose customers and delay vendor payments. Vi's much-needed Rs 1,600-crore fundraising plan got stuck due to the government's silence on picking up a proposed 33 per cent equity in the financially stressed telco. The development spells further trouble for the company, which has an overall debt pile of Rs 2.2 trillion, including hefty dues to the government.
The Supreme Court on Wednesday granted the Securities and Exchange Board of India time till August 14 to complete its probe into the allegations of stock price manipulation by the Adani group. A bench headed by Chief Justice D Y Chandrachud directed the SEBI to file an updated status report of the investigation.
The Enforcement Directorate had asked for financial details from both public and private sector banks and a part of these details were submitted last week
A prudent guideline for self-employed individuals is to target at least 10 to 15 times their actual annual income when determining life insurance coverage.
'What is critical today in India is confidence of depositors.' 'If you have these kinds of problems spreading like this, the confidence level of a lot of people in the system gets shaken.'
'Not even a single rupee from the electoral bonds should be allowed to be used in the election.' 'If it is used in the election, it will taint India's electoral process itself.'
Will a caste census make tens of millions desert Mr Modi?, asks Shekhar Gupta.
The Securities and Exchange Board of India (Sebi) could soon issue interim orders imposing a market ban on the two former fund managers of Axis Mutual Fund (MF) for suspected front-running of trades, said people with knowledge of the development. "The market regulator has gathered prima facie evidence that demonstrates that the duo has violated the integrity of the market. "While a detailed investigation is still pending in the matter, Sebi could take action under Section 11 (4) to prevent further harm to the investors and the securities market," said a source.
The Supreme Court on Thursday asked the Sebi to probe within two months allegations of stock price manipulation by the Adani group and any lapses in regulatory disclosures, and also set up a panel to look into protection of Indian investors after a damning report by a US short seller wiped out more than USD 140 billion of the conglomerate's market value. The top court while directing the setting up of a six-member committee headed by former apex court judge Justice A M Sapre for the assessment of the extant regulatory framework and for making recommendations to strengthen the process said it was appropriate to set up such a panel of experts in order to "protect Indian investors against volatility of the kind which has been witnessed in the recent past". The court-appointed Justice Sapre panel, which will be provided assistance by the Centre and other statutory agencies including the Sebi chairperson, will have to submit its report in a sealed cover within two months, said the bench which comprised Chief Justice D Y Chandrachud and Justices P S Narasimha and J B Pardiwala.
Security forces took out flag marches at several places including Ferozepur, Bathinda, Rupnagar, Faridkot, Batala, Fazilka, Hoshiarpur, Gurdaspur, Moga and Jalandhar in a show of strength.
Haryana Deputy Chief Minister Dushyant Chautala on Tuesday indicated that there were shortcomings by the administration in assessing the situation in Nuh, where a communal violence erupted on July 31 during a religious procession.
Going through the credit report regularly will make you aware of a number of issues. One is identity theft.
The mortal remains of Kavita Karkare, wife of slain ATS chief Hemant Karkare, were on Tuesday cremated at Worli in south Mumbai, a day after she died at a city hospital following brain haemorrhage.
LIC is currently allowing customers to revive policies that have lapsed for more than two years.
Buy from an established agent rather than a novice who may not be around when you need his assistance.
'Article 370 laid down the edifice of the relationship between J-K and the Union of India.' 'If you look at the Article, what is there now is a provision which states that all provisions of the Constitution of India applies to J-K.' 'The veto that the state could exercise previously on most Union laws has ended.'
The non-food component in the price basket will continue to keep inflation at a high level and result in a "long pause" in interest rates, a foreign bank said on Wednesday. The central bank is likely to pare the pandemic-driven emergency response as well, the report by Singaporean lender DBS said. It can be noted that the high inflation driven by the food prices has forced the RBI to go for a status quo in rates for the three consecutive reviews of the bi-monthly policy meetings, even as growth continues to be in the negative territory.
The market watchdog had directed that pending completion of the probe, revenues from the co-location facility - starting September 2016 - be transferred to a separate bank account.
What does a Muslim in politics do? Where does he go?
On February 19, India's largest private low-fare airline IndiGo announced the resignation of one of the two founders, Rakesh Gangwal, from the airline's board and his intentions of offloading his stake in the airline over the next five years. The announcement came on a Friday, giving the stock markets the weekend to absorb the news but the markets registered a tepid response on Monday's opening. In contrast, in July 2019, when the fight between the two founders and erstwhile friends first became public, the markets reacted savagely. The IndiGo scrip at the time fell 19 per cent, wiping out millions of rupees of shareholder wealth before bouncing back. For readers who may be hazy on the details of the dispute, here is the context.
Many salaried taxpayers hold the misconception that they don't need to disclose any other income since TDS is deducted from their salary.
The consortium of UAE-based businessman Murari Lal Jalan and UK-based private equity fund Kalrock Capital is rushing to restart Jet Airways' operations, even though differences have emerged over who will fund expenses before operations commence, sources said. The airline applied to the Directorate General of Civil Aviation (DGCA) for recertification of its air operator certificate in the last week of January. The regulator is likely to inspect the airline's preparedness to operate a flight in the middle of this month, after which it will be asked to operate a proving flight to demonstrate its ability to conduct flights safely and in accordance with rules.
The initial public offering (IPO) market has come to a grinding halt due to sharp correction in the broader markets and uncertain outlook created by the Russia-Ukraine offensive. So far this year, only three companies have managed to launch their maiden share sales. In comparison, close to 10 companies were able to come out with their IPOs during the same period last year. Investment bankers say it will be challenging to launch a single deal in March as large institutional investors have turned extremely risk-averse and don't wish to commit any capital.
The attack by the LeT to free "hardcore" Lashkar-e-Tayiba terrorist Mohammed Naveed Jhatt took place around 11.35 am inside the busy SMHS hospital complex in a high security area of Jammu and Kashmir's summer capital.
As the fire at a Bhandup mall which claimed the lives of nine COVID-19 patients admitted at the hospital in the same building was finally doused on Saturday, a case has been registered against HDIL promoter Rakesh Wadhawan and five others for 'culpable homicide'.
The mysterious Himalayan 'yogi' who allegedly advised Chitra Ramkrishna, former managing director and chief executive officer of the National Stock Exchange (NSE), on important matters of the bourse could be none other than Anand Subramanian, according to a letter written by former NSE chairman Ashok Chawla to the Securities and Exchange Board of India (Sebi). Subramanian was group operating officer of the NSE and advisor to Ramkrishna during 2015-16. He joined as chief strategic advisor in April 2013.
Govt tells PSBs to integrate banking systems, rotate staff as a policy
It can be noted that ever since Satyam Computers scandal came out in January 2009, the audit world, especially the Big Four, have been under fire from the regulators.
Jaypee Infratech's financial creditors on Monday deferred the voting process on Suraksha group's offer to acquire the realty firm and will decide later this week whether bids of Suraksha group as well as NBCC should be considered again. Days after NBCC strongly objected to the Committee of Creditors (CoC) rejecting its offer and also questioned the jurisdiction of Interim Resolution Professional (IRP) Anuj Jain, the creditors held a meeting to discuss NBCC's addendum to its existing offer. The CoC, at its meeting on Monday, decided to conduct voting on May 27-28 on whether both contenders -- Suraksha group and NBCC -- should be allowed to submit their resolution plans for Jaypee Infratech Ltd (JIL), which went into insolvency proceedings in 2017.
Naved Masood, former secretary in the Ministry of Corporate Affairs and Sebi board member; TV Mohandas Pai, chairman of Manipal Global Education and Dinesh Kanabar, CEO, Dhruva Advisors have ceded their position on the NSE board following end of their tenure.
Operator syndicate could be behind stock hammering, suspects regulator.
The panel suggests the government be authorised to raise the thresholds, which trigger applicability of Corporate Social Responsibility provisions.
Eight terrorists of the banned Students Islamic Movement of India escaped from the Central Jail in Bhopal on Monday by killing a security guard and scaling the prison wall with the help of bed sheets, following which some officials responsible for jail security have been suspended.
'More than 114 cases have been registered for spreading fake messages, rumours and fake news on WhatsApp.' 'People on various groups are reporting such crimes.' 'The most heartening development is people are now not tolerating such things.'
