The ED said that the investigation further revealed that there are 78 companies owned by the accused and his family members and it needed to probe whether the money went into these companies.
Worried over the lack of autonomy for cooperatives, Prime Minister Manmohan Singh on Tuesday said the UPA government was considering constitutional amendments to ensure democratic, autonomous and professional functioning of cooperative bodies.
Pawar said he was upset that his three sisters were dragged into this.
Most adult Indians should have access to bank deposits, credit and remittance facilities as well as insurance and mutual fund products in the next decade, and technology will play a big role in this transformation, says Tamal Bandyopadhyay.
Modi thanked his Australian counterpart for supporting him in unveiling the foundation stone of 'Little India', a suburb of Sydney.
'My wife, family members as well as members of the workers will be trustees.' 'The trust will take all decisions -- no family member can individually take any decision.'
India has issued a notice to Pakistan for modification of the Indus Waters Treaty of September 1960 following Islamabad's "intransigence" on its implementation
With the Swiss government showing eagerness to help India trace suspected black money hoarders, banks based in Switzerland appear to be losing traction among the wealthy Indian clients and could not get much business commitments during the just-ended WEF summit.
The Tamil Nadu Assembly on Friday passed a bill providing internal reservation of 10.5 per cent for Vanniyars, a most backward community in government jobs and in admission to educational institutions.
Imposing a blanket ban on construction of houses and commercial establishments along the banks of rivers, Uttarakhand Chief Minister Vijay Bahuguna on Monday announced setting up of a statutory body to look into planning and development of the flood-hit areas of the state.
The Assam government has taken the initiative to pay workers their wages electronically and has asked banks to open branches adjacent to tea gardens and install ATMs in estates.
After opting for status quo in policy rates, Reserve Bank Governor Raghuram Rajan on Tuesday said any more cut will depend on further transmission of previous rate cuts by banks, softening in inflation and progress of monsoon.
Pakistan has responded to a letter by India asking to start negotiations for the review of the Indus Water Treaty, the foreign office said on Wednesday.
The report concluded that she failed to discharge her fiduciary functions to rescue herself to avoid any conflict of interest.
The deadline for officers to decide on their career path in the biggest organisational rejig in the central bank's 85-year history ends on January 31. The immediate fallout could be its disruptive impact on the supervisory process for 2020 -- and beyond -- given the manpower shortfall, even as more entities are set to come under closer central bank scrutiny.
Former ICICI Bank CEO and MD Chanda Kochhar and her husband Deepak Kochhar on Tuesday approached the Bombay high court, calling their arrest by the Central Bureau of Investigation in a loan fraud case illegal. The high court, however, refused to grant an urgent hearing and directed the Kochhars to mention the matter before the regular bench once it resumes after vacation. A lawyer representing the Kocchars said that no prior sanction, as required under the law, was obtained by the CBI before their arrest.
Sisodia said nothing was found against him during searches, and he would continue cooperating in the investigation.
Providing succour to distressed farmers, the Karnataka government on Saturday announced waiver of interest and penal interest on crop loans from cooperative banks for the current fiscal and hike in compensation from Rs 2 lakh to Rs 5 lakh to families of farmers who had committed suicide.
Nominating Das, the Banker magazine, which announced the award, said India's banks have faced a series of challenges, from non-performing loans to issues around fraud. Faced with these challenges, Shaktikanta Das has taken steps to bring banking in India up to standard via a restrained approach to governance.
Sisodia said he will fully cooperate with the CBI that has summoned him for questioning in the excise policy case.
While some states like Kerala and Telangana were badly hit by the strike, the impact was partial in Punjab, Haryana and Maharashtra
Govt sets up task force to monitor circulation of fake currency; suspicious Jan Dhan accounts under scanner.
This mindless medley of products does not create choice.
'We focused on de-risking our balance sheet but we are very clear that the steps we have taken over the past few years, about changing the proportion of the loan mix, improving the ratings of the incremental portfolio, and reducing the concentration risks have now created a strong position that will allow us to attain growth with stability.'
The Bombay high court granted interim bail to Videocon Group founder Venugopal Dhoot on Friday, nearly a month after he was arrested by the Central Bureau of Investigation (CBI) in the ICICI Bank-Videocon loan fraud case. A division bench of Justices Revati Mohite Dere and P K Chavan granted bail to Dhoot on a surety of Rs one lakh. The court permitted him to furnish cash bail and then deposit the surety amount two weeks thereafter.
The OECD is a club of developing countries and has been playing a key role in reforming the international taxation system.
Sebi is learnt to have written to several regulators including those in Bermuda, Luxembourg, and Switzerland, seeking detailed information on some FPIs.
India has been probing hundreds of black money cases.
Extending its support to Saarc Bank, Sri Lanka on Thursday said the proposed financial institution will help in alleviating poverty in the South Asian region.
The Brics Development Bank was mooted at a summit in New Delhi in March this year as an alternative to the International Monetary Fund.
Babasaheb Adhav, a sub-inspector at the Rabale police station, was killed outside the Maharashtra and Punjab Cooperative Bank in Airoli.
Monetary policy typically acts with a lag, and price stability therefore has to be viewed in a medium term perspective, Subbarao said in a speech at the South Asian Association for Regional Cooperation Finance Governors' symposium at Kumarakom in Kerala.
The economic offence wing of Delhi police has registered an FIR against Nayati Healthcare's Niira Radia and four others for alleged embezzlement of over Rs 300 crore of bank loan, following a complaint filed by orthopaedic surgeon Rajiv Sharma from whom they had acquired two hospitals.
Following is the full text of Prime Minister Manmohan Singh's speech at the Central Party School in Beijing on Thursday:
'In equities, it has diversified portfolios.' 'So the short-term movement of individual stocks does not impact them.'
Gujarat Congress leader Arjun Modhvadia has alleged that former minister of state for home Amit Shah had allegedly received a bribe of Rs 2.5 crore from stock market scamster Ketan Parekh to help him in a bank fraud case.
The talks took place in a beach resort in Benaulim on the sidelines of a meeting of the Council of Foreign Ministers of the Shanghai Cooperation Organisation.
Crypto assets should not be granted official currency or legal tender status, the much-awaited synthesis paper by the International Monetary Fund (IMF) and Financial Stability Board (FSB) has said ahead of the G20 leadership summit under India's presidency. However, the report has argued against a blanket ban on activities linked to crypto assets, explaining that such a move can be costly as well as technically demanding to enforce. Central banks should avoid holding crypto assets in their official reserve as they pose a risk to monetary and global financial stability, according to the synthesis paper.
