Y H Malegam, 80, will head the panel that will look into non-performing bank assets and their relation to the Rs 114-bn PNB scam.
Despite the 6-month high, trade deficit has widened to a four-month high of $14.62 billion, as imports rose by 14.85 per cent during the month, reports Subhayan Chakraborty.
The 70 accused have been arrested on charge of cracking the pre-medical test conducted by scam-ridden Vyapam, using unfair means.
On being asked whether he knew Sehgal, he told reporters, "Andaleep Sehgal is also our acquaintance but as far as his business, his trade or his financial transactions are concerned I am not familiar with it.
The Enforcement Directorate on Wednesday continued raids for the seventh day as it visited 17 locations across the country, including four shell companies in Mumbai, even as the Income Tax department attached assets worth Rs 145 crore in the alleged Rs 11,400-crore Punjab National Bank fraud.
Widening its probe in the Rs 3,600 crore VVIP chopper deal, the ED has begun a trail of "cash" which is suspected to have been paid as alleged kickbacks.
The posts of Chairman and MD in the private sector are held separately.
'If 99.99 per cent of these micro borrowers are good at repaying their loans, why can't we look at the SMEs and MSMEs and replicate the same model for them with our stringent risk management system,' Chandra Shekhar Ghosh, chairman and managing director of India's newest private sector bank, tells Prasanna D Zore/Rediff.com.
Capital markets regulator, I-T department suspect tax evasion and market manipulation
The services sector, which plays the biggest role in shaping the economy, is facing loads of issues currently. The largest segments, financial and real estate, are struggling to cope with bad debts and low demand for houses.
The Delhi police have arrested top officials of Home Trade allegedly involved in the multi-crore government securities scam that shook the financial sector last year.
Director of the scam-tainted Prudential Co-operative Urban Bank, Krishna Kumar died in judicial custody on Saturday morning after complaining of chest pain, police said.
Aam Aadmi Party spokespersons, Ashutosh, Ashish Khetan and Raghav Chadha, are adept at turning issues on their head and putting up a good offence in their defence.
When you talk about finances, you need to have a goal to invest.
Trinamool Congress MPs accused the Modi government of having imposed a "super emergency" by launching the exercise and engaging in "vendetta politics" by arresting two party lawmakers after it opposed the "draconian" move.
'You had earlier sent a Prime Minister from Assam (referring to Manmohan Singh) whom people do not even remember now'
A special court on Tuesday set March 9, 2015, as the date for the verdict in the multi-crore accounting fraud in erstwhile Satyam Computer Services Limited.
People elected me to fight corruption, I'm doing what they told me to do, Modi said.
I don't disown my past association with Vijay Mallya but that does not mean I endorse his monetary misdemeanours, a feisty Divya Spandana tells Subhash K Jha.
In a move aimed at insulating the Central Bureau of Investigation from political interference, the Union Cabinet on Thursday approved recommendations of a Group of Ministers which include setting up of a panel of retired judges to oversee the investigations of the agency, besides increased financial powers of its director.
A combination of externalities such as global trade wars and slowing growth, continuing glitches in accessing offsets under the GST regime, which has created a liquidity crunch for smaller exporters, and the growing competitiveness of smaller countries are causing the slowdown.
Warning against conflict of interest of financial institutions, which have been chosen to sponsor UTI-II, the Joint Parliamentary Committee probing the stock scam and UTI muddle, has recommended that sponsors.
The recapitalisation, the finance minister said, will enhance the lending capacity of state-owned banks and help them come out of RBI's Prompt Corrective Action framework.
Action against auditors, last of the 276 recommendations of a JPC probing Ketan Parekh scam, is still pending.
The tribunal posted the matter for further hearing in December, when it will decide whether to admit the pleas of the Raju brothers and others against Sebi order.
The probe is expected to take about three months.
The government has ordered an enquiry and asked a senior FCI official to proceed on leave.
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Ramalinga Raju founded Satyam in 1987.
On the basis of the complaint filed by Leena Mangat, the CB-CID had filed an FIR on Jan 9, 2009.
The career bureaucrat-turned-central banker walked into the 19th floor corner room of the Reserve Bank on December 12, 2018. Since February 2019, the Das-led RBI has cut the repo rate by a whopping 135 basis points to support the sagging growth, including an unprecedented 35 bps reduction in August. As he completes one year at the helm, woes in the NBFC sector, overall health of the banking sector and steeply falling economic growth are among the major challenges that needs to be tackled sooner than later.
A raft of banks could face tough questions in the sweeping US crackdown on alleged corruption in global soccer as prosecutors review how much they knew about millions of dollars in bribes flowing through the US banking system to accounts around the world.
Reserve Bank carried out the investigation and noted the deficiencies which were reflective of weaknesses and failures in internal control mechanisms
The financial year ending Saturday saw such big-ticket events that set the directional tone for the country's business journey.
'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.
Currently, most crowdfunding platforms neither operate with proper authorisation nor are governed under any law.
To combat terror financing, India and the US committed to work together to check illicit money transfers.
Offenders will be tried under Prevention of Money Laundering Act
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