The size of Reserve Bank's balance sheet increased by 11.08 per cent to Rs 70.47 lakh crore as on March 2024, leading to the highest-ever dividend payout to the government, according to the central bank's annual report. In actual terms, the increase was Rs 7,02,946.97 crore over Rs 63.45 lakh crore as on March 2023.
To educate customers on the modus operandi of financial fraudsters and share inputs on safe banking habits, banks are now coming up with awareness campaigns aimed at preventing customers from falling into the trap of fraudsters.
Gaya Gayithrinathan alias Subramanya, 59, was running a travel agency in Bangalore.
Choksi, along with his nephew and millionaire designer jeweller Nirav Modi, is being investigated by the ED for allegedly defrauding PNB, the country's second largest lender.
Here's what you must know about the new rule, its implications, and whether it affects taxpayers' rights and privacy.
This case is the largest investigated by the Pandemic Response Accountability Committee Fraud Task Force to date, US Attorney for the Northern District of Texas Leigha Simonton said in a press release.
Despite the personal and political challenges posed by her husband's legal battles, Kalpana has proven to be a resilient and dynamic leader.
Dabba Cartel's reluctant black comedy in the body of a crime thriller starts out interestingly enough to accomplish its Narcos: Thane aspirations, notes Sukanya Verma.
Gautam Adani, India's second-richest man, and seven others including his nephew Sagar have been charged with paying bribes to unidentified officials of state governments in Andhra Pradesh and Odisha to buy expensive solar power, potentially earning more than $2 billion profit over 20 years.
Between April and August, it issued request seeking LoC against 147 individuals to prevent them from leaving the country, the bank said in response to a Right to Information query filed by Pune-based activist Vihar Durve.
The Delhi Police Special Cell arrested a man from Hyderabad for allegedly trafficking Indian youths and forcing them to work in fake call centres engaging in cyber fraud. The arrest came after a 2,500-kilometre non-stop chase, an officer said. The accused, Kamran Haider alias Zaidi, carried a reward of Rs 2 lakh on information leading to his arrest, declared by the National Investigation Agency. Zaidi was apprehended near Nampally Railway Station, Hyderabad, Telangana while trying to escape to another hideout.
The number of fraud cases reported by private banks outnumbered those by public sector banks for the second consecutive year.
Among bank groups, PSBs, which constitute the largest market share in bank lending, have accounted for the bulk of frauds reported in 2018-19.
Fugitive businessman Vijay Mallya has said that he will pursue relief for the Enforcement Directorate and banks taking more than two times the debt he owed. His remarks came following a statement by Finance Minister Nirmala Sitharaman in Parliament about recovery of over Rs 14,130 crore from his attached assets.
If you have questions related to online insurance frauds, then Piyush Ranjan, chief technology officer, Coverfox Insurance, will answer your queries.
Spanish prosecutors are seeking a two-year prison term and a 10 million euro ($9.8 million) fine for Neymar.
The ED has filed a fresh chargesheet against absconding jeweller Mehul Choksi, his wife Priti and others under the anti-money laundering law in connection with the over Rs 13,000-crore PNB loan fraud case, officials said on Monday. This is the first prosecution complaint filed by the central agency against Choksi's wife Priti Pradyotkumar Kothari. She has been charged by the Enforcement Directorate (ED) with "helping her husband in layering of the proceeds of crime".
The reason for the postponement couldn't be immediately ascertained.
'If the criminal or civil charges are deemed unworthy or defective, Trump's new justice department and SEC can withdraw the criminal and civil cases.'
Former Central Bureau of Investigation joint director Amit Kumar, who is now posted as Chhattisgarh police ADG, led the probe into the coal scam that resulted in convictions in a number of cases.
Telecom service providers and the Maha Kumbh Mela administration are on their toes to ensure smooth connectivity at the grand event set to witness record teledensity.
Raghuveer Nayak, an Indian-American multi-millionaire, was sentenced to two years in prison and fined $500,000 in a decade-long medical scam by a federal judge in Chicago on Monday.
By registering the fresh case, ED wants to strengthen its probe against the beleagured liquor baron and expedite a slew of actions it has initiated against him
Backing embattled Adani Group, rating agency CRISIL Ratings on Friday said the conglomerate has sufficient liquidity and operational cash flows to meet debt obligations and committed capex and that there has been no negative actions so far by lenders and investors following the US indictment of group founder chairman. The Adani Group, which has the flexibility to reduce certain discretionary capital expenditure (capex) depending on developments in financial markets and future capital availability, has a healthy Ebitda and cash balance that reduces its dependence on external debt to sustain operations, it said in a bulletin.
Aryan Anand had submitted fake and falsified documents to secure admission into Lehigh University, a private research university in Pennsylvania for the 2023-2024 academic year.
The Enforcement Directorate (ED) conducted searches against Chennai-based 'lottery king' Santiago Martin, the single biggest donor to political parties with over Rs 1,300 crore in electoral bonds, as part of a money laundering investigation. The action comes after the Madras High Court allowed the ED to proceed against Martin following a police decision to close the initial FIR against him.
US prosecutors' case against Gautam Adani and others may stumble on the extraterritorial application of American law.
Adani Green Energy Ltd, the renewable energy arm of billionaire Gautam Adani's conglomerate, on Thursday scrapped a Rs 600 million bond issue after its promoter was charged in an alleged bribery case in the US. Hours before the US prosecutors charged Gautam Adani and associates with participating in a scheme to pay over Rs 250 million bribe to Indian officials in exchange for favourable terms for solar power contracts, the firm sold a 20-year green bond in the US-investment-grade market.
The apex court, instead of reserving the judgement, dictates operative parts and says there is an urgent need to provide certainty and finality to the dispute which affects the career of over 2 million students.
All that you must know about the pros and cons of gift deeds, tax implications, essentials, documents required, conditions, etc...
Stock exchanges have sought clarification on violation of disclosure norms by Adani Group entities regarding the alleged bribery case in the US and subsequent cancellation of Kenya's airport expansion deal. In its response to the case in the US, Adani Group firms on Thursday had said "there are no allegations made against the company". On clarification with regard to Kenya cancelling airport expansion and energy deals following the US bribery and fraud indictments, the group is yet to respond to the bourses.
"The modus operandi was simple: Divert the money to the stock markets. It seems it was a structured product, which most people don't understand, as it could be a pure equity or blended product."
The Enforcement Directorate (ED) has filed a money-laundering case against Kerala Chief Minister Pinarayi Vijayan's daughter Veena Vijayan and her IT firm for receiving 'illegal payments' from a Kochi-based private firm, official sources said on Wednesday.
Israeli Prime Minister Benjamin Netanyahu struck a defiant tone as he testified in open court for the first time in Tel Aviv in his years-long corruption trial on Sunday.
'The first and most basic responsibility of any government is to protect its people from external threats and internal harm.' 'Budget 2025-2026 has to focus on meeting this responsibility,' asserts R Jagannathan.
The syndicate used "stooge" bank accounts and shell companies to transfer the largest amount linked to a single case recorded in the city, the Customs and Excise Department of Hong Kong said.
The order came days after Goyal told the court that he had "lost every hope of life and it would be "better if he died in jail" than living in such a situation.
Prime Minister Narendra Modi launched a scathing attack on AAP chief Arvind Kejriwal in a rally in Delhi, comparing him to notorious criminal Charles Sobhraj and accusing him of spreading lies about the BJP government in Haryana mixing poison in the Yamuna river. Modi said Kejriwal's claims are an insult to India and that the AAP is desperate due to the fear of defeat in the upcoming Delhi elections. He also highlighted the BJP's track record of fulfilling promises and urged people to give him a chance to serve them. The attack comes as the Delhi election campaign heats up, with the AAP and BJP locked in a tight race.
Nitin Bhatnagar, a Maltese citizen and a former relationship manager of the Bank of Singapore, was taken into custody under the provisions of the Prevention of Money Laundering Act on Tuesday.
The Insurance Regulatory and Development Authority of India (IRDAI) is considering a proposal to make insurance frauds a parameter for calculating credit scores in an attempt to put a lid on the increase in such activity. The proposal, which is a part of the recommendations made by a working group formed by Irdai and the General Insurance Council, suggests that insurance frauds should feature when the risk profiles of individuals are evaluated and should be used to calculate their credit scores. A poor credit score can deprive a person of financial services such as loans and credit cards, and deter him from indulging in fraud.
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