The entire amount is to be provided for four quarters.
Niranjan Upadhye, general manager, fraud risk management, Worldline India, tells you how to quickly spot a scam and save yourself from grief.
The challenge before the management is ensuring simultaneous disclosure of key information to stock exchanges and investigating agencies.
Interoperability with other insurance companies - apart from banks, medical centres, among others - would be the eventual goal
Prasad will face charges including criminal conspiracy and fraud in the fresh trial.
Consumer loans or personal continue to record the highest fraud incidence.
A government report revealed that fake companies floated with fake addresses, issued fake GST invoices and generated fake e-way bills, with fake vehicle registration details without supplying any goods causing huge loss to the exchequer.
A federal jury on Monday convicted Susan Xiao-Ping Su, the founder of California-based Tri Valley University.
Sebi had imposed penalties on DLF, for entering into sham transactions.
Bain alleges that it invested around $60 mn based on false financial statements that EY had audited and certified
One indictment accuses Huawei of trying to steal trade secrets from T-Mobile, and of promising bonuses to employees who collected confidential information on competitors. A second indictment claims the company worked to skirt US sanctions on Iran.
'Given the emerging trends, it may be time for India to embrace digital banking,' notes Pradipta Bagchi.
Be extra careful while using credit cards because there is a risk of misuse
The Enforcement Directorate had asked for financial details from both public and private sector banks and a part of these details were submitted last week
More than 60 individuals and entities, an overwhelming number of them Indians, were on Thursday charged by the Justice Department for allegedly participating in a multi-million dollar scam involving call centres based in India which conned thousands of American citizens.
Wanted diamond merchant Nirav Modi on Thursday lost his fight against being extradited to India as a United Kingdom judge ruled that he can be sent back to face charges of fraud and money laundering in the estimated $2 billion Punjab National Bank scam case.
Fraudulent emails exhorting people to deposit cash for reward are on the rise.
WhatsApp says business profiles verified by it will carry a green badge, similar to how parent Facebook verifies businesses with a blue tick.
The war between hackers and banks over ATM security will be dynamically redefined, notes Atanu Biswas.
In this year's budget, Finance Minister Nirmala Sitharaman hiked tax on petrol and diesel, raised import duty on gold, levied additional surcharge on super rich and brought a tax on high value cash withdrawals as she sought to spur growth with reduction in corporate tax and sops to housing sector, startups and electric vehicles.
Satyam Case has not ended after court verdict, there's lot to unfold say insiders.
DLFknowingly suppressed material facts: Sebi
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.
'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.'
Even though the powers of the board of directors stand suspended once a company's insolvency process begins, it does not absolve the directors from actions taken up to two years earlier.
Members from parties, including National Democratic Alliance partner Telugu Desam Party, All India Anna Dravida Munnetra Kazhagam and Trinamool Congress, continued their protests on various issues.
IBM, HP and HCL, have evinced interest in Sebi's proposal to upgrade toolsused for detecting frauds.
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Birmingham-based Gurpreet Singh Chadda, who was doing business of sale and rent-back of homes through Red2Black Homes and B&L Homes, has also been banned from working in the British financial services industry, besides a fine of 945,277 pounds (nearly Rs nine crore), the FCA said.
The agency on Friday also carried out searches on the premises of the Gitanjali Group at 20 places in Mumbai, Pune, Surat, Jaipur, Hyderabad and Coimbatore.
India borrows ideas that we don't need, like the FRDI Bill, and ignores the ones we need, like rewarding whistleblowers such as the ones who want to save Bombay Mercantile Bank, says Debashis Basu.
'Four times in Indian history, in 1992, 2000, 2007 and now, markets are at 25 times price-earnings.'
Wipro, HCL in race for Sebi's fraud detection system upgrade,
'The UPA was the gang that couldn't shoot straight. The NDA is the gang that can't stop shooting. They (the Modi government) are shooting at anybody, everybody, all directions, shooting themselves in the foot.'
'If there is any industry that is unfit for modern corporate form it is the diamond trade.' 'But no one was asking the right questions.' 'The music was playing and so the game was on,' says S Murlidharan, former MD, BNP Paribas.
India Inc had few tough issues to deal with in 2014.
The sluggish legal system in India makes it extremely difficult for law-enforcing agencies in the ministry of finance to punish violations of foreign exchange laws. Unfortunately, it is not just FEMA. The Prevention of Money Laundering Act too has significant infirmities, say Paranjoy Guha Thakurta and Pranati Mehra.
Taking a dig at Narendra Modi's demonetisation move, Uttar Pradesh Chief Minister Akhilesh Yadav termed cashless economy as a "bigger dream" than 'achche din' and said the note ban will be an issue in the upcoming assembly elections in the state.
The I-T department will rely on data analytical tools and run models to separate black money holders and genuine taxpayers based on the large data base being shared by banks.
About 70 per cent of ATMs in India are running on outdated operating systems, which makes it easier for fraudsters to crack them
Nand Kishore Balmiki, the main accused in the alleged forced conversion of about 100 people in Agra recently, was arrested after he surrendered before the police on Tuesday.
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