With the latest relaxation on withdrawal, more than 84 per cent of the depositors of the bank will be able to withdraw their entire account balance, the RBI said.
Tax exemption for donations to Greenpeace may be withdrawn.
Financially-stricken Parma have been hit with a further two-point penalty for failing to pay players' salaries the Italian Football Federation (FIGC) have announced.
the three investors that have submitted their final bids are not commercial banks. Among the three, one is a non-banking financial company. Another distinctive feature of the revival is that PMC may lose its cooperative bank characteristic after its reconstruction.
The AAP leader took to Twitter to take a dig at BJP over DDCA row and defamation case, saying, "BJP almost begging me for an apology, won't oblige them. Let @arunjaitley be cross-examined in defamation cases."
The Enforcement Directorate (ED) may initiate a money laundering investigation over the framing and execution of the Aam Aadmi Party government's excise policy, official sources said on Friday after the Central Bureau of Investigation raided Delhi Deputy Chief Minister Manish Sisodia and others in the matter.
'Nitish Kumar is fooling the people of Bihar.' 'He will not probe anything because if he does so, he will be trapped himself.'
The report has identified 29 instances where it appears that the loans disbursed to borrowers were in turn utilised by their group companies to repay the existing debt obligations with IL&FS Financial Services Limited.
IT major Infosys on Tuesday showed the door to Abraham Mathews, CFO of its BPO subsidiary, for not complying with the code of conduct, while CEO Gautam Thakkar has resigned taking responsibility on moral grounds.
Kaushar Imam Siddique alias Laddan, 47, a resident of Jogabai Extension, was wanted in a case of Arms Act registered against him after a country-made pistol and three live rounds were found in his premises, they said.
The federation's troubles have piled up in recent months, with some of its officials and senior coaches having found themselves embroiled in doping scandals.
His assertion came after BJP general secretary Ramlal called him earlier in the day for a meeting, apparently to persuade him against attacking Jaitley.
According to one of the Kochi team co-owners, Modi had driven them to 'madness'.
In an explicable move, two joint secretaries of Delhi & Districts Cricket Association (DDCA) have a written a letter to BCCI president Anurag Thakur seeking "expulsion of seven directors" including former Test opener Chetan Chauhan for supporting Lodha Panel reforms.
A bench of Justices Sanjiv Khanna and SVN Bhatti, which reserved its verdict on two separate regular bail pleas of Sisodia in the corruption and money laundering cases, told the ED it cannot go by the assumption of bribe having been paid, and whatever protection an accused enjoys under law needs to be granted.
The initial public offering (IPO) market has seen some momentum of late with robust responses to recent issues. However, only some have been able to ride the wave. So far in 2023, 23 companies have let their approval granted by the markets regulator - the Securities and Exchange Board of India (Sebi) - lapse.
The HC said if such remarks were made on instructions of Kejriwal, then he should 'first step into the box'.
Soon after being discharged, Mishra said he would go to the offices of the Central Bureau of Investigation and the Central Board of Direct Taxes to lodge complaints against Chief Minister Arvind Kejriwal whom he had accused of corruption.
The Aditya Birla group has taken The Indian Express Ltd, publishers of the Indian Express newspaper, to court.
Sebi's surveillance department has red-flagged unusual trading patterns in some stocks. Shares of some companies were seen going up ahead of a sharp sell-off.
In a further escalation of the confrontation between the Congress and the government, the opposition party claimed that a committee constituted by the Delhi government has found 'gross financial irregularities' in the DDCA during that period.
"Yeh sab doglapan hai." With these words, Ashneer Grover not only called out an entrepreneur being hypocritical, but also shot to fame as a reality television star. It happened in the first few days of January, when the funded part of the start-up world needed some warm-up to get back to work, and inevitably Grover's antics on the show became a talking point. The Twitterati also debated whether it was unbecoming of a founder to diss a peer's business model with such abrasion. And hundreds of memes, with the dialogue set in various circumstances, flooded social media.
This is the fifth increase in withdrawal limit since the bank was placed under its direct control with an administrator on September 23. Since then as many as nine depositors have lost their lives including a 74-year-old man from Thane on Monday.
Inching closer to resolving the Punjab and Maharashtra Cooperative (PMC) Bank issue, the Reserve Bank on Monday came out with a draft scheme for takeover of the crisis-hit bank by the Delhi-based Unity Small Finance Bank (USFB). The draft scheme of amalgamation envisages takeover of the assets and liabilities of PMC Bank, including deposits, by USFB, thus giving a greater degree of protection for the depositors, the RBI said. In September 2019, the RBI had superseded the board of PMC Bank and placed it under regulatory restrictions, including cap on withdrawals by its customers, after detection of certain financial irregularities, hiding and misreporting of loans given to real estate developer HDIL.
Explaining the modus operandi of the case, the FIR said HDIL promoters allegedly colluded with the bank management, to draw loans from the bank's Bhandup branch. Despite non-payment, the bank officials did not classify the loans as NPA and intentionally hid the information about the same from RBI.
USL board said its second forensic audit by EY has revealed fund diversion worth Rs 1,225 cr to Mallya companies.
Singh was under investigation by the federal agency as part of the case lodged under the Prevention of Money Laundering Act (PMLA) against an educational trust run by his wife and former legislator Kanta Andotra, they said.
The Enforcement Directorate on Friday launched fresh raids in connection with its money laundering investigation into alleged irregularities in the now-scrapped Delhi excise policy, official sources said.
ED has approached the MEA seeking initiation of deportation proceedings against liquor baron Mallya
Former Indian team captain Bishan Singh Bedi and ex-cricketer Kirti Azad on Thursday batted in the Supreme Court for implementation of Justice Rajendra Mal Lodha committee's recommendation on structural reforms in the Board of Control for Cricket in India.
While agency sources informed that Gandhi recorded his statement and checked its transcript minutely, Congress leaders said the investigators took multiple breaks during his questioning
This case revolves around the establishment of clusters of Centers of Excellence (CoEs) in the state of Andhra Pradesh, with a total estimated project value of Rs 3,300 crores.
BJP alleged that banks were 'pushed' into giving Rs 3,100 crore loan to him and unfreezing his bank accounts in 2012.
Such an exit arrangement is commonly known in the business parlance as 'golden parachute' or 'sweetheart deal'
The Aam Aadmi Party (AAP) convenor has sought rejection of the suit by Delhi and District Cricket Association (DDCA), claiming it is not maintainable as the alleged defamatory statement "does not contain any imputation concerning any persons whose identity can be established".
Limited IT staff may compel them to focus on big fish than small depositors.
Aam Aadmi Party MLA Amanatullah Khan, who was arrested on Friday in connection with an alleged corruption case, was sent to a four-day Anti-Corruption Bureau's (ACB) custody for questioning on Saturday.
The average time lag between the date of occurrence of a fraud and its detection is 23 months; for large frauds (Rs 100 crore and above), it was 57 months.
No violation of rules or regulations were found in the transfer of land by businessman Robert Vadra's Skylight Hospitality to realty major DLF, the Haryana government has told the Punjab and Haryana high court in Chandigarh.
