Daryan and Daryll Warner, sons of former FIFA Vice President Jack Warner, and their associates deposited more than $600,000 in cash at bank branches in New York, Miami and Las Vegas in the second half of 2011, according to a 2012 complaint in US District Court in New York that was unsealed on Wednesday.
BharatPe has sacked Madhuri Jain Grover, wife of the fintech firm's co-founder and managing director Ashneer Grover, over alleged financial irregularities and cancelled ESOPs vested with her. Madhuri is alleged to have used company funds for personal beauty treatments, buying electronic items and family trips to the US and Dubai, sources with direct knowledge of the matter said. Besides, she also allegedly paid her personal staff out of company accounts and produced fake invoices from known/friendly parties, they added.
'Modi wants to reverse everything Nehru did, but is shy of touching his daughter's most unwise policies.' 'There is no example of this more stark than bank nationalisation,' says Shekhar Gupta.
As the RBI moves ahead for the launch of the central bank digital currency (CBDC), Governor Shaktikanta Das on Wednesday marked out cyber security and digital frauds as the main challenges in the new system. Deputy Governor T Rabi Sankar said there are two types of CBDCs - wholesale and retail - and a lot of work has happened in the former while the latter was termed as a "complicated" aspect which will take time. The RBI had earlier this year announced that it has started work on the CBDC, in line with other major central banks of the world which are looking at a fiat digital currency.
'Every Indian citizen is already exposed to massive digital surveillance and most are already vulnerable to data theft and cyber-impersonation as well,' points out Devangshu Datta.
Prime Minister Narendra Modi on Friday urged bureaucrats to make national interest the sole basis of their every decision, saying the country has put its faith in them and they must uphold that trust.
If you have questions related to online insurance frauds, then Piyush Ranjan, chief technology officer, Coverfox Insurance, will answer your queries.
'It has also saved the government about $ 9 billion in fraud and wastage because by having that unique number you eliminate fakes and duplicates from your beneficiary and employee list,' Nilekani said at an event on the sidelines of the annual meeting of the International Monetary Fund and the World Bank.
A classic example of a leader who has chosen to risk everything for his vision.
'It is common knowledge that cash is anonymous.' 'When demonetisation was implemented, one of the intended objectives was to put identity on the cash holdings in the economy.' 'With the return of Rs 15.28 lakh crore in the formal banking system, the almost entire cash holding of the economy now has an address.' 'It is no more anonymous,' says Arun Jaitley.
The ATS of the Uttar Pradesh police had arrested 10 persons, who it claimed were linked with Lashker-e-Tayiba and allegedly involved in terror-funding activities.
Cyber criminals are using apps and young women to trap people through mobile phone calls and video chats.
These notes can be exchanged for their full value at bank branches
Claiming that the Trinamool Congress is not perturbed over desertions by some leaders, she said politics is a solemn ideology and philosophy and one cannot change these everyday like clothes.
Government's financial inclusion mission is well intentioned, but it may be putting a severe strain on the banking sector.
The Income Tax department on Tuesday issued an advisory asking taxpayers not to share their personal financial details over email or phone.
I am not sure if Modi can ever act as a chowkidar, even if he wants to. But he can surely act as a thanedar, by ensuring a fast resolution of corruption cases once they come to light. Exemplary action is easier and will burnish his anti-corruption image, argues Debashis Basu.
The speed at which he led the central bank in different areas -- ranging from internal reorganisation to inflation fighting, stabilising the currency, taking on rogue corporations, cleaning up bank balance sheets, and opening the sector -- makes one believe that Rajan knew he had only three years to do his job. A fascinating excerpt from Tamal Bandyopadhyay's MUST-READ Roller Coaster: An Affair with Banking.
Central KYC not in sync with Sebi's KRA system; regulator writes to finance ministry
Jaitley said note ban has compelled people to deposit money into bank accounts.
The Reserve Bank of India on Thursday said banknotes in circulation witnessed higher than average increase during 2020-21, on account of precautionary holding of cash by people due to the COVID-19 pandemic, and its prolonged continuance. The value and volume of banknotes in circulation increased by 16.8 per cent and 7.2 per cent, respectively, during 2020-21, as against an increase of 14.7 per cent and 6.6 per cent, respectively, witnessed during 2019-20, said the RBI annual report. In value terms, the share of Rs 500 and Rs 2,000 banknotes together accounted for 85.7 per cent of the total value of banknotes in circulation as on March 31, 2021, as against 83.4 per cent as on March 31, 2020.
'The common man in India who doesn't have anything to hide will have to put up with this short period of discomfort.' 'It will not last more than 10 days at the most.'
Enforcement Directorate is jointly probing the case.
Only Rs 16,050 crore out of the Rs 15.44 lakh crore of the old high denomination notes have not returned.
"Aadhaar Act has withstood the judicial scrutiny and the purpose of the Act is legitimate," it said.
Nine out of ten terror cases that are reported have had a hawala transaction, reports Vicky Nanjappa
In her complaint sent to the Bandra police in Mumbai on Sunday, Chakraborty sought that Priyanka Singh and Dr Tarun Kumar, working with Ram Manohar Lohia Hospital in Delhi, be booked under relevant sections of the Indian Penal Code for forgery, the Narcotics Drugs and Psychotropic Substances (NDPS) Act and the Telemedicine Practice Guidelines.
The brand new bankruptcy process is being brazenly gamed by those with connections and money. The touts and fixers of the previous regime have been replaced by a new set close to this one, observes Debashis Basu.
ED probe finds funds were ploughed into group's jewellery, entertainment and hospitality businesses
BharatPe co-founder Shashvat Nakrani has accused Ashneer Grover, with whom he had co-founded the payment startup, of creating a false narrative about the company, and said the board acted quickly and decisively in unseating him after receiving finds of a PwC report. BharatPe, which allows shop owners to make digital payments through QR codes, last week stripped Grover of all titles and positions over his alleged "misdeeds" and may take further legal actions, including clawing back of some of his shareholding. In a letter to employees, Nakrani said the Grover episode was an aberration and not the norm at BharatPe, and went on to defend the board who he said were celebrated names in the banking and financial services industry.
Policy lays out a 5-year road map seeking creation of 3.5 mn jobs and promoting 10,000 start-ups.
He also made an appeal not to 'overblow' the issue of data breach.
SC asked AG to file an affidavit about the measures undertaken by the govt and RBI to minimise public inconvenience.
With banks struggling to cope with rush to get alternative currency, the government has extended use of old defunct Rs 500 and Rs 1,000 notes for paying household utility bills, fuel, taxes and fees and purchases from co-operative stores till November 24.
Delhi Election Commission on Friday directed all mobile service providers to stop "political" bulk SMS services 48 hours before the assembly election to ensure that parties do not influence voters during this period.
'I was shocked by the kidnapping episode. I could have lost my life.'
Adversarial Harmful Networks -- India Case Study, cited in Facebook whistleblower Frances Haugen's SEC complaints, revealed, among other things, that Facebook was a preferred platform for 'fear-mongering anti-Muslim narratives' in India, observes Devangshu Datta.
Damage from new shenanigans can be contained if regulators move quickly when something does not smell right, counsels Debashis Basu.
Hitting back at former prime minister Manmohan Singh for his criticism of the Modi government's handling of the economy, Finance Minister Nirmala Sitharaman on Thursday said he is more remembered for having brought India to "fragile five" and rampant inflation during his term.
Relaxation in KYC guidelines has helped meet the target but this could lead to money laundering and financial malfeasance, it is feared.
