A 27-year-old collection agent was robbed of cash by four men on motorcycles in northeast Delhi's Khajuri Khas area, according to police reports.
Delhi Police have arrested four individuals for allegedly robbing a cash collection agent of Rs 4.18 lakh in Burari. The suspects were apprehended after an investigation involving extensive CCTV footage analysis and technical surveillance.
Bengaluru police have arrested six individuals, including a husband and wife, for allegedly defrauding hundreds of job seekers by falsely promising them employment in district courts across the state. The accused are alleged to have collected lakhs of rupees from over 450 aspirants, issuing fake court orders and selection lists.
The Reserve Bank of India (RBI) has proposed several measures to develop a more conducive framework for the long-term growth of Prepaid Payment Instruments (PPIs), including enhanced transaction security and clearer rules on refunds and grievance redressal.
The Enforcement Directorate (ED) has arrested an agent based in Uttar Pradesh for allegedly defrauding investors through the 'QFX' Ponzi scheme. The agent, Navab Hassan, has been remanded to ED custody for nine days. This is the second arrest in the case, which involves multiple FIRs across several states.
Ask rediffGURU Naveenn Kummar your insurance mutual fund and personal finance-related questions.
"We currently manage collections for over 98 million retail and small-business loan accounts, covering a loan book of about $250 billion," says Rishabh Goel, cofounder and chief executive officer (CEO) of Credgenics, a software-as-a-service platform for debt collection. With more than 700 million smartphone users and over 450 million UPI users, digital access is everywhere.
The Enforcement Directorate (ED) has frozen Rs 110 crore and seized 1,200 mule credit cards following searches against the Indian operations of Parimatch, a Cyprus-based online betting platform, for alleged money laundering and cheating investors.
Murders disguised as accidents. In one horrifying case, a man insured his father, mother, and wife -- then allegedly killed them all. He claimed Rs 54 crore in insurance.
The sources said that Chaitnaya Baghel was arrested under section 19 of the anti-money laundering as he was allegedly not cooperating during the searches that came about following receipt of fresh evidence in the case.
Fraudsters lure individuals with false promises of recovering bonuses or maturity proceeds from lapsed policies.
While six of them have been held from Punjab, five were nabbed from neighbouring Haryana, and one from Uttar Pradesh.
It's business as usual for Sahara in some places, but collection agents fend tough questions from investors.
Frequent flight cancellations and the Airports Authority of India's decision to put SpiceJet on a cash-and-carry mode have made online travel agencies nervous.
The ED said its investigation also revealed that from 2019 to 2022, the sale of 'unaccounted illicit' liquor was almost 30-40 per cent of the total liquor sale in the state.
The same day the tax sleuths had raided the house of DMK MP S Jagathrakshakan and some of those linked to him. The MP from Arakkonam has interests in a variety of business sectors.
A court in Canada has ordered the seizure of amounts collected by the International Air Transport Association (IATA) on behalf of Air India and the Airports Authority of India (AAI). Separate orders were passed on November 24 and December 21 on pleas by shareholders of Devas Multimedia Private Limited who have filed multiple petitions to enforce arbitration awards against the Indian government. According to a Devas spokesperson, more than $30 million has been seized to date under the IATA action.
Did you know that annual premium-paying option is cheaper than a monthly premium paying option?
Byju's, India's most-valued startup, has decided to put two of its key assets -- Epic and Great Learning -- on the block to generate $800 million-$1 billion in cash, with an aim to meet the edtech firm's various commitments, including repaying the entire $1.2 billion term loan B (TLB) within six months, according to sources. The cash-strapped company has proposed repaying $300 million of the $1.2 billion loan in the next three months, depending on whether the lenders accept Byju's amendment proposal, said the people familiar with the development. "This loan repayment proposal has been submitted to the lenders and conversations are going in the right direction," said a person in the know.
'As our per capita income increases and various demographic segments emerge, the need for various kinds of protection and risk covers will become even more explicit.'
Cashi Crisis: Day 9: Aaj ki Taaza Khabar!
'India's edtech and start-up story will be in danger.'
Jet will, however, continue to pay the sale-linked productivity bonus to them.
While chits and the formal financial sector are not 'largely substitutable', users like the commitment to savings that these enforce and the flexibility in borrowing, reports N Sundaresha Subramanian from New Delhi.
If you have questions related to online insurance frauds, then Piyush Ranjan, chief technology officer, Coverfox Insurance, will answer your queries.
Terming whistleblower allegations on loan evergreening as "grossly inaccurate and baseless", Indusind Bank on Saturday admitted to have disbursed 84,000 loans without customer consent in May owing to a "technical glitch". Lending without the consent was reported by the field staff in two days, and the glitch was also rectified expeditiously, the private sector lender said in a clarification. On Friday, there was a media report about anonymous whistleblowers writing to the bank management and the RBI about BFIL, the microlending-focused subsidiary of the bank, allegedly resorting to evergreening of loans, wherein existing borrowers unable to pay dues were given new loans to present the books as clean.
The CBI said the software enables the user to save all required details to book Tatkal tickets beforehand.
The economy is gaining traction with gradual pick up in manufacturing activity and moderation in contraction of services, spurred by comfortable liquidity conditions, an RBI article on Tuesday said. Observing that the retreat of the second wave of coronavirus pandemic has been slow, the RBI in an article on the 'State of Economy' said, the aggregate demand conditions are buoyed by the release of pent-up demand post unlock, while the supply situation is improving with the monsoon catching up to its normal levels and sowing activity gaining pace. "Reaffirming the traction that the economy is gaining, the manufacturing activity is gradually turning around, while contraction in services has moderated.
India has gone through this exercise twice, and here's what happened then.
Stockbroker Blue Chip Corporation Pvt Ltd (BCCPL), Nitin Rajaram Narke, Pravin B Darawade, Bhavana Chadha, Milestone Investment, Nitin Narke Investment, Blue Cheap Investment and Blue Chip Investment have been prohibited.
For people at the bottom of the pyramid, which I would rather address as mass market or emerging class; the primary challenge in accessing banking services are not just affordability but applicability and accessibility of services.
Promoters must mandatorily deposit 70% of unused fund collected for project in separate bank account
On the face of it, there could be a bump up in tax filings, but its impact on tax collections is not that straightforward
It's not unusual for the tax departments to freeze bank accounts and there have been instances of the authorities recovering the outstanding from the bank, though such course of action is not common.
The concluding part of the A to Z guide to a year that will soon become history.
Exchange rates play an important factor in international fund transfers
The options include involving jewellers as collection centres, addressing of issues that banks have been facing and using domestically available gold for giving metal loans to jewellers for domestic sales.
As the country erupts over the CAA and NRC, all I can do is think of Daya Ram from Pakistan in Jodhpur and Tehmina from Afghanistan in Delhi, says Geetanjali Krishna.
For the convenience of people to pay school fees and municipal taxes and utility bills through an integrated platform, the Reserve Bank on Thursday proposed setting up an "anytime anywhere" bill payment system.
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