'My husband is no longer an Indian citizen. 'In 2017, he ceased to be an Indian citizen.' 'The safest place on earth for him is Antigua'
'PNB had confirmed compliance with the RBI's prescription in its circular of August 3, 2016, which has now turned out to be factually incorrect,' Minister of State for Finance Shiv Pratap Shukla said in Rajya Sabha on Tuesday.
India, the world's largest consumer of gold has created a number of rich jewellers over the years.
Banks will also have to seek borrower's status report from Central Economic Intelligence Bureau on the account turning NPA
Currently, confiscation can be done through multiple laws, but it is a complicated process.
Here's a recap of moments captured in India in the last week.
PM started 'Make in India' but every product in market is Make in China: Rahul
Sena said many banking frauds have come to fore during the Modi regime.
'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.'
Modi also stepped up attack on Congress chief Rahul Gandhi, saying it was the mindset of the 'sultanate' of the 'Naamdar' to abuse the deprived and treat them as slaves.
Several people clicked snapshots of the leader having his meal from a distance that the SPG -- which looks after Gandhi's security -- permitted.
Choksi has appealed to the Interpol to not issue an RCN against him as the charges are politically motivated, officials said
Given how everything has played out, Mehul Choksi, now 62, achieved all that he wanted but for all the wrong reasons, says Pavan Lall.
ICAI intends to investigate the chartered accountants of PNB but the bank allegedly refuses to give the information sought.
The CVC is awaiting sanction to prosecute nine employees of PNB and 2 other banks who were booked by the CBI for their alleged involvement in corruption.
According to a complaint from Bank of Baroda, the conspirators allegedly cheated a consortium of bank loans of Rs 3,695 crore. The scam was earlier estimated at around Rs 800 crore.
The broader Nifty declined by 73.90 points, or 0.71 per cent, to end at 10,378.40.
He also sought to know if Modi, during his recent meeting with Chinese President Xi Jinping, asked the latter about the 2017 Doklam standoff.
According to data released by the commerce and industry ministry, exports stood at $25.01 billion in the month. The fall is only the second time exports contracted in the past year.
Jaitley slammed lack of ethics in certain sections of businesses and said multiple layers of auditing system chose to either look the other way or did a casual job.
Despite recent developments that have accelerated the impending extradition of fugitive diamantaire Nirav Modi, who has been in custody in London's Wandsworth Prison for over two years, the last month has seen his uncle Mehul Choksi dominate the headlines instead with his circus-like exhibition in the Caribbean that has involved red herrings such as a "girlfriend", to whom his wife seemed to have no objection, and possibly concocted stories of being kidnapped and manhandled. Choksi was widely regarded as Modi's Svengali in Mumbai when he returned from Belgium to expand his business. He had fled to Antigua well before news around how Modi finagled thousands of crores from Punjab National Bank (PNB) and other institutions through a series of allegedly coordinated and fraudulent actions involving letters of undertaking, or LoUs.
Three-four big gem and jewellery firms are showing financial weaknesses and might find it tough to withstand shocks
Britain has finalised 1 billion pounds worth of new trade and investment with India, creating over 6,500 jobs in the UK, to be signed off at a virtual summit between Prime Minister Boris Johnson and his Indian counterpart Narendra Modi on Tuesday. The investments confirmed by Downing Street on Monday evening form part of an Enhanced Trade Partnership (ETP), which will set the ambition to double the value of UK-India trade by 2030 and declare a shared intent to begin work towards a comprehensive Free Trade Agreement (FTA). "Like every aspect of the UK-India relationship, the economic links between our countries make our people stronger and safer," Johnson said.
External Affairs Minister Sushma Swaraj met Foreign Minister of Antigua and Barbuda E P Chet Greene on the sidelines of the 73rd session of the United Nations General Assembly and raised the extradition issue of Choksi, who is currently in the Caribbean island.
For the baning sector, 2018 was a 'Year of Exits' - borrowers fled from the country as loans went kaput and many bank CEOs were forced to leave
After taking action against 226,000 shell companies last year, the ministry of corporate affairs has now zeroed in on a fresh batch of suspected shell companies.
'If the Modi government is successful in extraditing a high-profile fugitive such as Vijay Mallya or Nirav Modi before the 2019 election, the government will be able to link demonetisation to this and turn it into a positive.'
The banners came up at major road crossings in Lucknow late on Thursday night on the directions of Chief Minister Yogi Adityanath, an official said. They bear photographs, names and addresses of those accused of vandalism during protests in December against the CAA.
The agency's poor track record in convictions is the only light at the end of a rather long tunnel for the couple, observes Shyamal Majumdar.
The bank also issued 234 LoUs worth Rs 1,880 crore to another group of companies promoted by Mehul Choksi in 2015 and 2016
The complaints were filed by Bharatiya Janata Party leaders for allegedly calling Union Minister Amit Shah a "murder accused" and saying that "all thieves have Modi as surname".
It appears that the BJP government has succeeded in managing the communication of the PNB scam in a manner that its adverse impact on its electoral fortunes is largely contained
The scheme, touted as a panacea to burgeoning CAD, was a huge flop that fostered a spike in smuggling and allowed several Gitanjali-like players to make a killing
Confiscation of the tycoon's properties will start from February 5.
It has registered 2,000-plus money laundering cases and about 12,000 forex violation ones in the 14 years since it was established. Yet, its probes have resulted in no more than 13 convictions from nine cases of money laundering since 2005.
'The web of transactions is so complex that it requires expertise to understand the strategies involved in each fraud.'
'Last year, Rs 20,000 crore was ripped off from the banking system.' 'The situation has deteriorated under the Modi government.'
A common feature in India is the lag between the occurrence of frauds and the time they are actually reported.
Bad loans of PSBs are at Rs 20 trillion. Most of it is, I sense, due to corruption and behest lending. Nobody pays a price for this charade. Not the promoters, the bankers, RBI officials, finance ministry bureaucrats or politicians, points out Debashis Basu.
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