The decision assumes significance in the wake of a scam in the PMC Bank affecting lakhs of customers who are facing difficulties in withdrawing their money due to restrictions imposed by the Reserve Bank of India.
'People who have unaccounted money often park it in unregulated deposit schemes.' 'Curbing illegal deposit-raising activity will also carry forward the government's drive against black money.'
He also said a total of Rs 38.75 crore, deposited by people in the Karavannur Cooperative bank in this district, which is now facing charges, had already been returned.
The Enforcement Directorate (ED) on Tuesday grilled arrested West Bengal minister Partha Chatterjee and his alleged associate Arpita Mukherjee who were arrested in connection with the school jobs scam, sources said.
Crypto currency platform WazirX, a cyber-attack on July 19 this year in which nearly 40 lakh Indians have suffered a loss of to a tune of $230 million or Rs 19.12 billion, has moved the Singapore high court seeking a moratorium in any legal action against it and for legal protection.
'More investors now view the stock market as a valuable opportunity, though many still seek quick gains, leading to a rise in futures and options trading.'
The plea, filed by Delhi-based Bejon Kumar Misra, said the Centre and RBI should be directed to ensure complete insulation and insurance of the hard-earned deposited money of people in various co-operative banks, including nationalised banks, by enacting an appropriate measure of 100 per cent insurance coverage towards the deposited amount.
Bharatiya Janata Party leader Kirit Somaiya on Sunday alleged that ad firm director Bhavesh Bhinde had paid Rs 46 lakh as bribe to a company of the wife of then GRP commissioner, who gave permission to install a hoarding which collapsed in Mumbai last month.
The two federal agencies came in for some sharp criticism over the "fairness" of their investigation, with the apex court observing "Sorry to see this state of affairs".
Insurance coverage for deposits in non-banking finance companies is unlikely to be provided as Reserve Bank of India has expressed reservations over the move.
The CBI had interrogated Rujira in February last year ahead of the West Bengal assembly elections.
The Enforcement Directorate on Friday searched premises of Baramati Agro, a company owned by MLA Rohit Pawar, grand nephew of NCP supremo Sharad Pawar, and linked entities as part of a money laundering probe into the alleged Maharashtra State Cooperative Bank scam, official sources said.
A bench of Justices B R Gavai and K V Viswanathan noted that Kavitha has been in custody for around five months and the probe against her by the Central Bureau of Investigation (CBI) and the Enforcement Directorate (ED) was complete in these cases.
Officials said multiple premises of Baig and his associates are being raided by the agency under the provisions of the Prevention of Money Laundering Act
'Modigate is snowballing into a huge thing with the electorate. The BJP is in for huge punishment by the electorate.'
The special court, however, did not permit the ED to attach the paintings owned by Modi and seized by the Income Tax department as the Bombay high court had earlier directed for the artworks to be auctioned but the money to be deposited and not disbursed.
Senior Aam Aadmi Party leader Manish Sisodia walked out of Tihar Jail after 17 months behind bars on Friday and said he got bail due to the power of the Constitution and democracy, and this same power will ensure the release of Delhi Chief Minister Arvind Kejriwal.
The case involves fraudulent withdrawals amounting to Rs 33.67 crore from the Chaibasa treasury in undivided Bihar, when Lalu Prasad was the chief minister.
The 54-page document tabled in Parliament detailed how the Modi-government pull the economy from being counted among the most fragile-five in the world to being the fasted growing and the most attractive investment destination.
Nirmala Sitharaman said in Lok Sabha that in case of medical emergencies, marriages and other crisis situations, a depositor of the Maharashtra-based PMC Bank can withdraw up to Rs 1 lakh by invoking the 'hardship provisions' of the RBI.
Despite Sebi passing at least four orders against deposit-taking entities in the past year alone, the business seems unscathed
Union Home Minister Amit Shah, who released BJP's manifesto for the legislative assembly polls, said a committee would be constituted on UCC.
'The amount involved could as high as Rs 3,500 crore as there are a lot of depositors.' 'Yesterday, I met an investor who put in Rs 4 crore. That man doesn't have Rs 2,000 to spend on medicines.'
A special Central Bureau of Investigation court in Mumbai has convicted four former bank officials in one of the multi-crore securities scam cases and sentenced them to three years imprisonment, 25 years after the scam involving 'Big Bull' Harshad Mehta came to the fore.
There are four first information reports against Saradha Group in which it is alleged that thousands of investors were allegedly duped by the company officials and their associates who swindled their deposits.
At a hurriedly convened press conference, the former Uttar Pradesh said, "All deposits are as per norms and party rules and the money was collected before note ban. Should we have thrown it?"
The Enforcement Directorate on Tuesday said it has attached over a dozen properties worth Rs 12.78 crore of suspended Trinamool Congress leader Shajahan Sheikh including bank deposits, an apartment, and agricultural and fishery land in Sandeshkhali and Kolkata in West Bengal.
The central probe agency has also issued a notice asking general public 'to furnish information and particulars of properties, both movable and immovable as well as bank accounts, in the state of West Bengal and other places, if any, related to Saradha group known to them, with specific details' to it.
The Tirumala crime police have busted a coins scam at the Lord Venkateswara temple at Tirumala and recovered Rs 16,000 worth of coins from a businessman.
With the above relaxation, more than 70 per cent of the depositors of the bank will be able to withdraw their entire account balance, the central bank said as most of its account holders have an average balance of just about Rs 10,000.
Former Delhi deputy chief minister Manish Sisodia 'conspired' with others to frame a faulty excise policy in order to generate kickbacks and proceeds of crime to the tune of more than Rs 290 crore, the Enforcement Directorate (ED) alleged before a court in New Delhi on Friday.
The 39-year-old was arrested by the Enforcement Directorate from Ranchi after the agency conducted multi-city raids against him, Singhal, her businessman husband Abhishek Jha and others, on May 6.
Somaiya's wife said Raut had repeatedly made defamatory public statements against her and her husband, particularly about their alleged involvement in a "toilet scam worth Rs 100 crore."
Be careful about the mails you get, no matter how genuine they appear. A lot of people, including highly educated professionals have fallen prey to these scams and lost tons of money.
Prime Minister Narendra Modi on Tuesday attacked the Congress, saying it skipped the meeting convened to select the new Chief Information Commissioner (CIC) as he is a Dalit and this reflected the anti-Scheduled Castes mindset of the main opposition party.
The meteoric rise of Shajahan Sheikh from a modest background of a helper in a local transport company to becoming the so-called 'tiger' of Sandeshkhali is what Bollywood film scripts are made of. And so does his fall.
Taking bank lottery scam to a new level, scamsters are using the name and picture of RBI chief Raghuram Rajan to lure gullible people into making a cash deposit of Rs 15,500 to get a winning amount of Rs 5.50 crore.
The Enforcement Directorate to take a "conclusive action" towards attachment of assets of those involved in coal scam.
CBI has registered three FIRs in West Bengal against Saradha group and 44 FIRs in Odisha against chit fund companies allegedly operating on the lines of Saradha.
The government has initiated a forensic audit at the state-run Oriental Bank of Commerce and Dena Bank after unearthing of a suspected scam, wherein the lenders allegedly misappropriated funds worth Rs 436 crore from their fixed deposit customers.
