A delegation of account-holders went to Sion police station in central Mumbai and submitted the complaint against officials of the bank on which the RBI has imposed operational restrictions. The delegation in its complaint alleged that at least 14 people, including the PMC Bank's chairman and all its directors, were involved in misappropriation of funds of the account-holders.
Sitharaman also directed public sector bank heads to clear long pending vigilance cases against their officials for alleged malpractices.
'In the months of January and February, China bought 18 times more amount of masks'
Countrywide raids are being conducted in connection with a money laundering case linked to a fertiliser scam.
Twenty-six immovable properties worth Rs 101.45 crore, and bank balance totalling Rs 2.28 crore in 22 accounts have been attached provisionally under the Prevention of Money Laundering Act (PMLA) by the Lucknow zonal office of the agency, they said. The Greater Noida-headquartered Bike Bot taxi service is accused of scamming about Rs 3,000-Rs 4,000 crore from 2.25 lakh investors in multiple states including Uttar Pradesh, Madhya Pradesh, Rajasthan and Haryana.
Hassanain is being charged with Assault in the Third Degree as a Hate Crime, Assault in the Third Degree, and Aggravated Harassment in the Second Degree, and will be arraigned on Saturday, it added.
The Reserve Bank has asked troubled digital wallet firm MobiKwik, which is facing data breach allegations, to get a forensic audit done without any delay. Though the Gurugram-based firm has been claiming that its systems are secure and that there is no basis to the allegations of data breach, a group of hackers on Tuesday said that they accessed personal and financial data of nearly 10 crore MobiKwik customers. On Wednesday, sources in the know of the development told PTI that the RBI has ordered an immediate forensic audit of the company's systems by a certified auditor. When contacted, an RBI spokesperson refused to comment. MobiKwik refused to give a direct answer to a query on whether the RBI has ordered a forensic audit.
In case a shopkeeper does not have any change at his disposal if a customer pays Rs 100 for an item that costs Rs 70, the latter may have to make do with three plastic tokens of Rs 10 value each .
The Enforcement Directorate (ED) on Tuesday arrested the former CFO and internal auditor of the Cox and Kings Group in connection with its money laundering probe in the Yes Bank alleged loan default case. The agency said ex-chief financial officer Anil Khandelwal and internal auditor Naresh Jain were arrested under the provision of the Prevention of Money Laundering Act
Some regulators are already unleashing their own algorithms to track and understand pricing software of e-commerce companies. While companies collude on pricing, governments are collaborating on curbing online malpractices. The legal liability of an algorithmic decision will be interpreted as legal liability of an entity of an individual. Anti-trust activities of algorithms will not go unchallenged in any economy.
Many people posted screenshots of the alleged MobiKwik user data, which, according to sources, was up for sale for 1.5 bitcoin or about $86,000.
The bank has one of the highest current account savings account share, stable credit quality, robust credit growth, adequate capital and low cost-to-income ratio, said PNB chief Sunil Mehta.
Kumar sought seven days time, citing personal reasons, to appear before CBI officers in connection with the case.
The man, son of retired SBI employees, had readied fake seals and challans of the public sector lender, and had other paraphernalia like a cash counting machine needed 'to run a bank branch', on an upper floor of his residence at Panruti, about 25 km from Cuddalore.
'There are obvious concerns regarding revenue leakage which is understandable, but there are also concerns about whether or not well accepted, judicially tested, fair and proper procedures are being followed during such arrests.'
The CBEC will itself be rechristened as the Central Board of Indirect Taxes and Customs and will supervise GST and Customs activities and provide the government policy inputs.
The RBI said it had not found initial evidence of money laundering against the three banks.
A user just needs to download any app floated by such fraudsters and apply for instant loans. These apps are mainly concentrated on Google Play considering the reach and popularity of Android systems.
Twitter initially said the account had been "inadvertently deactivated due to human error", but later indicated it was done intentionally by a departing worker.
UIDAI has asked police to investigate, it was not fully convinced about nature of the incident
Report holds Hitachi responsible for debit card data theft. When the data theft came to light, Hitachi had denied that its systems were compromised.
The country may become militarily impressive, pile on GDP and the durbar of the ruling party may fill with the wealthy indebted to the rulers for their riches. But the spontaneous camaraderie of a free people will diminish and with it, our shared ownership of the country, warns Shyam G Menon.
Or else customers will face capacity shortages and high fares.
Else customers will face capacity shortages and high fares.
The company denies any wrongdoing, but says that the negative media coverage has left it with no clients and mounting legal fees which has forced it to resort to closure.
Thanks to technological support provided by BlinkIN, a Bengaluru-based intelligent visual-assistance company, engineers in Wuhan were able to remotely install air ventilation systems in two hospitals in Wuhan, the epicentre of the coronavirus pandemic, reports Peerzada Abrar.
The Directorate of Revenue Intelligence, the lead agency to check customs frauds and smuggling, has decided to post officers at India's Mission in New York (US), Singapore, Brussels (Belgium) and in Nepal's Birgunj.
A round-up of off-beat stories from around the world
A witch in confrontation mode, a courtroom drama full of twists and turns, Bruce Lee's final and Denis Villeneuve's first, Sukanya Verma recommends this and more on OTT this week.
The focus areas are under-invoicing of imports and over-valuing of exports as well as fraudulently availing of export incentives. The MoU will help the customs to get 'information to enable detection and investigation of customs violations, particularly in the critical area of under-valuation of imports and over-valuation of exports and the consequent fraudulent (availing) of export incentives,' home minister P Chidambaram told reporters after the Cabinet meeting.
In the show-cause notice, Trai said it is of the view that the claim of VIL for providing priority 4G network with faster data speeds is not in compliance with the extant regulatory framework.
The investigation arm of the Monopolies and Restrictive Trade Practices Commission, the country's anti-trust body, has launched a probe against 10 cellular service providers, including state-owned ones, for allegedly charging customers for Short Message Services that are not delivered.
All airports and immigration authorities have been alerted by the CBI this week to prevent him from leaving the country and intimate the agency on any possible move, they said.
The volunteers are asked to keep an eye on posts which are against the sovereignty and integrity of India, against the defence of India, against the security of the state, against friendly relations with foreign states, content aimed at disturbing public order, disturbing communal harmony and child sex abuse material.
The case goes back to 2014, where the diamond merchant had pleaded guilty, though indirectly, for mis-declaration of exports of diamonds.
In a 7-page letter Choksi said, he was being threatened by the individuals with whom he has business relationship and due to the seizure of his assets, his employees, customers and creditors have started to show animosity towards him.
Tata Starbucks had hiked the base price of one its coffee variant after the GST Council cut tax rates on restaurants from 18 per cent to 5 per cent with effect from November 15, 2017.
'If your loan application gets turned down by one bank, do not apply immediately to several others.' 'This makes you appear credit hungry and possibly in some form of financial distress.' 'Multiple enquiries affect your credit score adversely,' advises Mohan Jayaraman.
On October 18, the tax department had said searches had led to detection of undisclosed income of more than Rs 500 crore in addition to Rs 93 crore worth seizures, including gold jewellery and diamonds. A revised appraisal of such seizures now pegs its value at Rs 106 crore which includes cash (Rs 45 crore), gold jewellery and diamonds (Rs 41 crore) and foreign currency Rs 20 crore.
The amounts were transferred from HDFC Bank to BoB.
