The Enforcement Directorate has alleged that this is a bigger bank scam in volume than that of the Punjab National Bank fraud by fugitive diamantaires Nirav Modi and Mehul Choksi, as it involves fraud to the tune of about Rs 16,000 crore.
Jobs in HR, administration and recruitment have seen a substantial rise as per Monster data with a 42% growth in job posting activity.
Nothing has ever been done to make bank officers accountable, except for the rare actions when there is a public controversy, argues Debashis Basu.
73-year-old dies in Mumbai, 75-year-old in Kerala.
The outbreak and lockdown have thrown up a number of challenges, such as layoffs, pay cuts and a general slowdown. Many subscribers after their unsuccessful attempts to use the scheme have taken to social media to voice their complaints, as the EPFO website and grievance portal suffer outages and its customer helpline remains unreachable.
Many are testing hybrid models including getting small batches to work, rotating staff every week, introducing shifts and allowing certain functions to operate from office in small numbers.
With almost all opposition parties too backing the 'Bharat bandh' and many announcing parallel protests in support of the farmers, the Centre has issued an advisory directing the states and Union Territories to tighten security and ensure peace is maintained.
It said the searches that were launched on July 22 in nine cities like Bhopal, Indore, Delhi, Ahmedabad, Noida and some others are "continuing and further investigations are in progress."
A whopping Rs 62,476 crore has been "illegally" transferred by smartphone maker Vivo to China in order to avoid payment of taxes in India, the Enforcement Directorate said Thursday, as it claimed to have busted a major money laundering racket involving Chinese nationals and multiple Indian companies. This money is almost half of Vivo's turnover of Rs 1,25,185 crore, it said without stating the time period of the transaction. The crackdown on the leading Chinese company came after the federal probe agency found that three Chinese nationals, all of whom "left" India during 2018-21, and one other person from that country incorporated as many as 23 companies in India in which they were also helped by a Chartered Accountant, Nitin Garg.
The divestment process, however, will not be an easy affair as there are multiple stakeholders, including the employee unions, whose concerns will have to be addressed.
'The business continuity clause will mean the Tatas will have to keep running the airline for three years, and cannot exit the flying business.'
AIBOC in a letter to the Prime Minister, has said the government should not expect the banking fraternity to "join the political campaign of #MainBhiChowkidar" unless issues related to merger of banks, salary revision and staff recruitment, among others, are addressed.
Future Retail has shut most of its Big Bazaar stores since February 25 (Friday) and its website is also down as it missed lease payments to Reliance Industries (RIL). RIL will open most of the 200 Future Retail stores as Reliance stores in the next week and it is in the process of taking stock, re-branding, and transferring 30,000 Future Retail and Future Lifestyle employees on to the rolls of its manpower and staffing firm Reliance SMSL, according to a source. The first tranche of stores are set to be opened as early as in the next two days.
Reliance Industries on Saturday said its Rs 24,713-crore deal with the Future Group cannot go ahead as secured creditors of the latter have voted against it.
Alleging some "motives" behind the series of developments at the carrier, Jet Airways Officers & Staff Association president Kiran Pawaskar demanded a probe, preferably by CBI.
The Income Tax Department has detected "concealment of income" to the tune of Rs 17 crore after recent raids on institutions linked to former Maharashtra home minister Anil Deshmukh and his family members, official sources claimed on Monday.
'Welfare schemes are not a necessary evil, they are a necessary good.'
Jaitley slammed lack of ethics in certain sections of businesses and said multiple layers of auditing system chose to either look the other way or did a casual job.
A week after Prime Minister Narendra Modi announced that the Rs 500 and Rs 1,000 notes are illegal tender, at least 33 people have been reported dead in demonetisation-related incidents.
Addressing a rally in Rithala in northwest Delhi, Shah said Kejriwal and Congress leader Rahul Gandhi were against the construction of Ram temple, the scrapping of provisions of Article 370 and were not bothered about the country's image and soldiers.
The government had moved NCLT to freeze the assets of 19 people after CBI filed a charge sheet in Nirav Modi's case and Gitanjali Group cases.
Smaller cities like Pune and Noida score better than 'Vibrant' Gujarat's Ahmedabad.
Employees asked to work from home... cancelled travel plans... curtailed meetings... Caution and precaution dominate Corporate India's response to Covid-19.
Ford dealers in India are staring at huge losses with the automaker deciding to shut production in the country with immediate effect, automobile dealers' body FADA said on Thursday. Terming the company decision as shocking, the industry body noted that the dealers have invested over Rs 2,000 crore in creating sales infrastructure while employing around 40,000 people across the country. "The auto retail fraternity is really shocked to hear another Ford India's announcement where it has said that it will shut down production with immediate effect," FADA president Vinkesh Gulati said in a statement.
Aeromatrix Info Solutions private limited, an accused firm in the Rs 3,600 crore VVIP helicopter deal scam, has moved a Delhi court seeking defreezing of its bank account for paying salaries to its employees.
'Their dharma propels them to pay their workers; otherwise, they know the boys would starve.' 'At the same time they will not allow their business to suffer,' observes Dr Sudhir Bisht.
Finance Minister Nirmala Sitharaman on Thursday announced a new job creation scheme by giving subsidy to those establishments that make new hires. The subsidy would be to cover for retirement fund contributions by employees as well as employers for two years, she said. Employees contribution (12 per cent of wages) and employer's contribution (12 per cent of wages) totalling 24 per cent of wages would be given to establishments for two years, she said. Under the Aatmanirbhar Bharat Rozgar Yojana, every Employees' Provident Fund Organisation (EPFO)-registered establishment taking new employees would get this subsidy.
HR Guru Mayank Rautela offers practical advice.
Either drivers were blissfully unaware of the requirement or they hadn't bothered to get one installed in their vehicle.
New ministry will bring much-needed transparency in the functioning of the cooperatives, which so far have been riddled with allegations of political interference and mismanagement.
While taking gold out of the closet to borrow money is no longer taboo in Indian households, the sharp drop in gold prices is hitting the newest loan product on the banking turf hard, explains Tamal Bandyopadhyay.
While the scam highlights the need for an overhaul of the oversight mechanism of banks and of their internal controls, questions are being raised on why multiple audits failed to raise an alarm
Tendulkar and his elder brother Ajit have time and again recalled how Achrekar would stand behind trees and watch Tendulkar bat to let him play freely.
ugar mills in UP owe thousands of crores to cane farmers.
The ED had summoned Patel, 70, twice for questioning in the case but the Congress Rajya Sabha MP from Gujarat later cited prevailing COVID-19 guidelines that advises senior citizens to stay indoors in order to remain safe from the pandemic.
Monetising real estate assets is part of the overall relief package that would be used to retire debts, upgrade networks, and offer VRS aimed at reducing the telcos' employee strength by half.
DDinesh Kumar Khara is someone who cares for others's ideas and suggestions.
If he takes the people along with him (which he always does); cares for the customers (80 per cent of SBI's new customers are in the 20-40 age group); and doesn't take his eyes off technology, his job is done, says Tamal Bandyopadhyay.
Yes Bank said it is set to unveil a branch to be operated exclusively by women.
E-commerce companies have said they are well prepared and working closely with delivery partners to ensure smooth and safe delivery of packages in Maharashtra where the government has announced a slew of restrictions, including night curfews and weekend lockdown to control the spike in COVID-19 cases. However, there are concerns around the mandate for delivery staff to be either vaccinated or carry a negative RT-PCR report. According to the health ministry data, till 8 am on Tuesday Maharashtra's COVID-19 caseload was 452,777 with an addition of 20,881 from the previous day. In an order on Sunday, the Maharashtra government said all personnel belonging to home delivery services will have to be vaccinated and in case they are not vaccinated, they will have to carry a negative RT-PCR report.
