Apart from navigating the bank through the Covid crisis, Jagdishan may also have to deal with the latest development on the auto loan lending practice scam. He will be expected to deliver consistent profit growth of 20 per cent-plus quarter after quarter, irrespective of the operating environment.
He said trust and confidence were the backbone of any financial system and one should never underestimate the power of ethics and values.
The submission by the actress in a 12-page affidavit in which she said the "constant sensationalisation" was causing extreme trauma and infringement of privacy of her rights came a day ahead of the next hearing of her plea for transfer of the Bihar police FIR against her from Patna to Mumbai.
Irked by delay in response to queries raised by it, the Central Vigilance Commissioner (CVC) may summon officials of Union and State governments in connection with alleged financial irregularities in different Commonwealth Games related projects.
The Satyam saga, which rattled India over five-and-a-half years ago as its biggest corporate fraud, has turned out to be a case of financial mis-statements to the tune of approximately Rs 12,320 crore, as per Sebi's probe.
'We get to know secrets such as some of India's top-rated firms do not always make payments when due and many State-owned, listed, enterprises that borrow in bond markets default regularly.' 'Without naming the bank, he says that ever-greening of poor loans by a part of India's shadow banking lay at the doorstep of India's banking, notably 'one private bank'.' Viral Acharya's Quest for Restoring Financial Stability in India won't be music to many ears, observes Tamal Bandyopadhyay.
The draft amalgamation scheme of Punjab and Maharashtra Co-operative (PMC) Bank with Unity Small Finance Bank (SFB) allowed quick relief to depositors with savings of up to Rs 5 lakh, but a long wait for those who had their nest egg with the scam-tainted bank. If the scheme gets approved, 96 per cent (or 880,000 of 924,000) depositors will get their full money straightaway after PMC is merged with Unity SFB. According to the draft scheme, retail investors may get up to Rs 5 lakh from the Deposit Insurance and Credit Guarantee Corporation (DICGC) instantly, and then some more in phases till they can recall their full deposits after 10 years.
'Wherever in the world there is political instability, those countries are beset with severe crises today. But India is in a much better position than the rest of the world due to the decisions taken by my government in the national interest,' President Droupadi Murmu said in her address to both Houses of Parliament.
The Rajya Sabha MP, who is also a spokesperson of West Bengal's ruling party, was asked to appear before a CBI team in the first week of August, officials said on Friday.
He was subjected to a marathon 10-hour questioning on Thursday by ED investigators.
Chennai is one of the cities where works have been completed for almost 62 per cent of the money lined up -- Rs 599 crore of the Rs 959 crore has been utilised so far. Despite this, there was no respite for the people in the city this time either, with North Chennai being the worst affected.
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.
The Income Tax department has declined to share details of probe being carried out in Rs 5,600 crore (Rs 56 billion) payment default by National Spot Exchange Limited (NSEL) saying it would "hamper the process of investigation or apprehension of offenders".
The issue of extradition of Vijay Mallya and Nirav Modi figured in a virtual summit between India and the UK on Tuesday, with Prime Minister Narendra Modi asserting that economic offenders should be sent back to the country at the earliest for trial. India has been pressing the United Kingdom to extradite Mallya and Modi to face trial in India for their alleged involvement in cases relating to financial fraud. At a media briefing, joint secretary in the Europe West division in the ministry of external affairs (MEA) Sandeep Chakravorty said British Prime Minister Boris Johnson has mentioned that the authorities in the UK will do whatever possible to make sure that the economic offenders are extradited.
The issue of extradition of Vijay Mallya and Nirav Modi figured in a virtual summit between India and the United Kingdom on Tuesday, with Prime Minister Narendra Modi asserting that economic offenders should be sent back to the country at the earliest for trial.
The central probe agency that began action against the banker by raiding his upscale residence in south Mumbai on Friday is primarily investigating Kapoor, his wife and three daughters over a Rs 600 crore fund received by a firm allegedly "controlled" by them from an entity linked to the scam-hit Dewan Housing Finance Limited.
A flavour-of-the-season approach does not work in investing, suggests Deepesh Raghaw.
On October 31, Chaudhuri was arrested from his Delhi home by the Jaisalmer police for his alleged role in crippled Rs 200 crore Garh Rajwada hotel project in the city which was sold for Rs 25 crore to Alchemist ARC in March 2014. The project was financed by the bank in 2007.
The Central Bureau has summoned Trinamool Congress's member of Parliament Abhishek Banerjee's brother-in-law in connection with a case of alleged illegal coalmining from the mines of the Eastern Coalfields Limited (ECL) in West Bengal's Asansol, involving the "kingpin" of the racket, Anup Manjhi, officials said on Friday.
Avoid thinking of investment as some 'become millionaire in a week' scheme, says Nikhil Sethi, founder and MD, Zuvomo, a crowdfunding firm. Always think of long term gains and plan your trades accordingly.
Federal Bureau of Investigation agents on Tuesday arrested 48 foreign exchange brokers in connection with a probe into securities and currency fraud, according to a CNN/Money report.
Summons have been issued to some new telecom firms asking for financial records and documents, according to official sources. However, the names of the companies could not be ascertained.
While some accuse the government of taking a soft stance, others want it to come up with punitive measures against the offenders at the earliest.
CPI-M calls her bid 'desperate attempt to save herself'.
'Of the 202 debates, 79 were around attacking Pakistan and 66 attacking the Opposition and Nehru.' 'The PMC Bank scam where thousands of depositors lost their savings got just one,' points out Vanita Kohli-Khandekar.
Allegations of a particular market player being favoured over others were flying thick and fast in the early days of the scam.
Decades apart, but the drama linked to the two appears similar, says Nivedita Mookerji.
For the first time in the history of Indian armed forces, a serving lieutenant general will face a court martial for his alleged involvement in financial irregularities. Former 33 Corps Commander Lieutenant General General P K Rath will face a court martial starting August 30 for his role in issuing a no-objection certificate to a private realtor for building an educational institution on a 70-acre piece of land adjacent to the Sukna military station in West Bengal.
Amid slowdown blues, the government has unveiled a raft of measures over the past few months aimed at improving liquidity in the system, moderating interest rates as well as credit growth apart from addressing stress in the NBFC sector.
'For years, the RBI has been warning banks on probable frauds in bank guarantees and advised them to exercise due care.' 'PSB staffers feel their jobs are secured, hence there is no need to be vigilant and exercise financial prudence.'
'It can't be a coincidence that he and his family, uncles and all, vanished from India only days before the scam was discovered.'
It is a record that the saffron party has created, where the majority of its legislators belonged to the minority community.
Rai claimed he has been framed in the case as he has been writing against an Enforcement Directorate official who was part of the team probing the 2G spectrum allocation scam case.
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.
Here is a look at some of Aseem Chhabra's favourite memories of 2020 in Hindi cinema, performances by well-known and new actors, special moments in films and shows.
The Congress chief alleged that in the 2016 demonetisation exercise, black money became white, nobody went to jail and contrary to the BJP's promise, no one received Rs 15 lakh in their bank account.
Around 200 brokers are said to be involved in the scam; they have been summoned for questioning. Major brokerages questioned by the EoW so far include Anand Rathi, Motilal Oswal, India Infoline and Geojit Comtrade.
A total of 254 millionaires from India have used the so-called "golden visa" to settle down in the UK through a large investment into the country since the route opened in 2008, according to a new report released by a UK-based anti-corruption charity on Monday. Spotlight on Corruption said that Indians ranked as the seventh nationality of super-rich to have availed of the Tier 1 (Investor) Visa, adding up to 254 between 2008 and 2020. China topped the list at 4,106, followed by Russia (2,526), Hong Kong (692), the United States (685), Pakistan (283) and Kazakhstan (278) ahead of India.
India Cements Managing Director and Board of Cricket Council of India President N Srinivasan, an accused in the illegal assets case involving YSR Congress leader Y S Jaganmohan Reddy, on Friday appeared before a special court in Hyderabad, along with others chargesheeted by the Central Bureau of Investigation in the high-profile case.
Plagued by allegations of financial irregularities and many other controversies, the Indian Premier League is all set for a fresh start on Saturday with a high-profile two-day auction of 350 cricketers for the cash-rich Twenty20 event's fourth edition.
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