The Reserve Bank on Friday retained the GDP forecast for the current financial year at 9.5 per cent and flagged global semiconductor shortages, elevated commodity prices and potential global financial market volatility as downside risks to economic growth. In his address after the three-day meeting of the rate-setting panel, RBI Governor Shaktikanta Das said recovery in aggregate demand gathered pace in August-September, and it is reflected in high-frequency indicators, like railway freight traffic; port cargo; cement production; electricity demand; e-way bills; GST and toll collections. "The ebbing of infections, together with improving consumer confidence, has been supporting private consumption," he said, and added the pent-up demand and the festival season should give further fillip to urban demand in the second half of the financial year.
A local court on Thursday dismissed the petition filed by Satyam Computers former MD Rama Raju and its ex-CFO Vadlamani Srinivas, seeking permission to use laptops in jail.
Asked if the government would provide aid to the beleagured IT major Satyam, he said, "I think its a decision that is being taken internally." The government had, on Thursday, ruled out a swift bailout for Satyam.
Welcoming Sebi's initiative on establishing and certifying quality of audit, Ambani said: "We are confident that as part of its supervision, Sebi will ensure compliance with the highest standards applicable to the process and will also ensure that the selection of reviewers takes into account their merit, as also issues relating to confidentiality of commercial information.
Samajwadi Party general secretary Amar Singh made it amply evident in Lucknow on Monday that it was his threat to expose Uttar Pradesh Chief Minister Mayawati that prompted her to sit pretty on the First Investigation Report registered in a Kanpur police station against him.
In a boost to the embattled Adani Group, Mauritian Financial Services Minister Mahen Kumar Seeruttun has told the nation's Parliament that Hindenburg Research's allegations of the presence of 'shell' companies in the Island nation are 'false and baseless' and that Mauritius was in compliance with OECD-mandated tax rules. US short seller Hindenburg on January 24 alleged that billionaire Gautam Adani used shell companies based in Mauritius to manipulate stock prices of his Indian-listed companies.
Manjeet Bawa, 46, of New York and other co-defendants contracted to buy homes in Nassau and Suffolk Counties from innocent sellers at market prices.
The XXI additional chief metropolitan magistrate court allowed the petition of G Rama Krishna, accused No. 7 in the case, and directed the superintendent of Chanchalguda Central Prison to provide him a computer.
The special court trying the Satyam scam cases on Tuesday posted the matter to June 4, on CBI's plea for examination of former chairman of Satyam Computers B Ramalinga Raju, through video conferencing in connection with the multi-crore financial fraud in the IT firm.
It is up to the bank management to decide which application gets to interact with the CBS
"The company wishes to point out to investors that reported allegations regarding the magnitude of investor harm or historical misstatements in the company's accounting records do not necessarily shed light on the present financial position and liabilities of the company."
Traditionally, financial institutions have operated risk functions in silos. However, the nature of unknown threats today requires industry participants to work together, says Vikram Limaye.
Disgraced Satyam Computers founder B Ramalinga Raju, the prime accused in the multi-crore financial fraud in the IT firm, on Thursday moved the Supreme Court pleading that he be released on bail.
The defendants would make up a false identity to get cards and then use them.
The agency had received Rs 946.51 crore to manage its affairs in the Budget Estimates for 2023-24, which was later increased to Rs 968.86 crore in the Revised Estimates.
The CBI, which is the National Central Bureau for India tasked with coordination with the International Criminal Police Organisation (Interpol), immediately swung into action and alerted all Interpol Liaison Officers (ILOs) to alert their respective police organisations about such unscrupulous supplies, they said.
An Indian American has admitted his role in widespread foreign student visa fraud that took place in New Jersey, the US Department of Justice said.
A five-member Sebi team arrived at the Chanchalguda Central Prison in Hyderabad on Wednesday to quiz Satyam Computer founder Ramalinga Raju and his brother and former Managing Director Rama Raju regarding the Rs 7,800-crore (Rs 78 billion) financial fraud in the IT firm.
The crisis-hit NSEL is promoted by Jignesh Shah-led Financial Technologies (India) Ltd.
Former CII president R Sashsayee, Jamshed Godrej of the Godrej Group and Suresh Neotia, Chairman of the Gujarat Ambuja, will be among the small group of industrialists meeting the prime minister. Besides the Satyam saga, the World Bank has initiated action against five Indian entities, including Wipro Technologies, for violating the guidelines of the multilateral lending agency on checking fraud and corruption.
Employees of the beleaguered Satyam Computer Services are now finding it difficult to get personal loans or pay back equated monthly instalments. Even their credit card limits have been reduced by almost 80 per cent since banks have become stringent following reports of the severe cash crunch at Satyam on the back of the admission of a financial fraud by the former company chairman Ramalinga Raju.
Leading accounting firm KPMG on Friday said the existing management of beleaguered Satyam Computer Services should go and the government take control of the company board to save the image of India Inc.
The hearing of the forgery case filed by British mobile solution firm Upaid against Satyam Computer Services is not scheduled for hearing during this week.
The hearing of the forgery case filed by British mobile solution firm Upaid against Satyam Computer Services is not scheduled for hearing during this week. This means no Satyam official -- neither B Ramalinga Raju who stepped down as its chairman after admitting to a financial fraud nor any other top executive -- is in the US for the case. When contacted, a Satyam spokesperson confirmed the development and added that Raju was 'very much' in Hyderabad.
Both Raju and Gelli symbolised the so-called 'Telugu pride' in the corporate world and were considered visionaries in their respective fields of operation. They were heralded as institution-builders, but in the end their fall too was equally swift due to a set of financial frauds. Incidentally, PricewaterhouseCoopers was the auditors of both the institutions.
For online fraud, approach cyber cell and file a complaint.
On the first day of the three-day SAARC Home Ministers' meet, the police chiefs of these countries agreed on sharing information among police organisations to check various trans-border crimes, Home Ministry sources said. They said the delegates spoke of the need for having a better institutional mechanism so that coordinated action could be taken to meet the common challenges.
The problem here is that internal auditors are good at accounts, but they are not trained to track foreign exchange transactions
SBI has suggested that banks be exempted from handing over the complete forensic audit report to the borrower as it would hamper future investigation and forewarn the borrower by way of disclosure of confidential information.
'If something unfortunate happens to an earning member, the family loses the crucial income which would have gone towards paying off debts, meeting the cost of children's higher education, or towards the upkeep of elderly parents.'
As many as 267 of 453 companies from the BSE500 index are trading above their consensus price targets, according to the data compiled by Bloomberg. Not all companies in the BSE500 index are tracked by analysts.
The most marked development of the year was the Rs 10,000 crore (Rs 100 billion) Satyam financial scam, disclosed by the founder B Ramalinga Raju, forcing the government to redraft rules for corporate governance and auditing standards.
A new mobile banking 'Trojan' virus -- SOVA -- which can stealthily encrypt an Android phone for ransom and is hard to uninstall is targeting Indian customers, the country's federal cyber security agency said in its latest advisory.
Banks recovered Rs 18,933 crore (Rs 189.33 billion) worth of bad loans during the April-December period.
A Securities and Exchange Board of India (SEBI) team probing a financial fraud in Satyam Computer on Friday reached founder Ramaling Raju's house here, but returned as the premises was locked.
The official said that L&T did not jack up its stake in Satyam in recent times and the stake the group owns was acquired in phases from the secondary market. Speculations were rife that the engineering major might look at acquiring Satyam in order to strengthen its presence in the information and technology arena where it has presence through L&T Infotech, a wholly-owned subsidiary of the group.
PwC's comments are still awaited. Following a letter from the Satyam chairman, who accepted that he had misrepresented facts in the company's balance sheet, role of auditors and accountants for the company has also come under scanner.
Indications are that the DMK combine will win more seats than the AIADMK and BJP, but is facing a tough fight in about half a dozen from the rest, predicts N Sathiya Moorthy of the electoral contest in Tamil Nadu.
Customers taking small and convenient steps and some degree of care and precaution while paying digitally will ensure safety and security from new threats that emerge every day, says Avinash Luthria
The measures needed for implementing this new system would start rolling in few weeks, the minister added.
© 2026 Rediff.com - Investor Information - Advertise with us - Disclaimer - Privacy Policy - Sitemap - Feedback - About us - Terms of use - Grievances