The former PM attack on the Modi government for its "disastrous policies" and "economic mismanagement".
Embattled liquor tycoon Vijay Mallya claimed on Sunday that Prime Minister Narendra Modi's statement in a recent interview confirming the recovery of Rs 14,000 crore worth of his assets has fully vindicated him in his assertion of being a "poster boy" for the Bharatiya Janata Party-led government.
Confidence had ebbed in the last few years due to default by some errant domestic retailers and exporters. Moreover, many jewellers are believed to have diverted the fund collected through monthly deposit schemes to pay 'mark-to-market' margins on various loans.
'This government is so fond of some corporate friends that they can always amend existing laws or make new laws.'
Finance Minister Arun Jaitley revealed that the government wanted to give Hasmukh Adhia a post-retirement role, but Dr Adhia said he would not work for a single day after November 30.
A list of at least 20 individuals has been sent to the immigration department to prevent them from flying overseas.
Gandhi said Modi had "claimed that he wants to be a 'chowkidar' (watchman of the country) but he actually proved to be a 'chowkidar' of Anil Ambani, Mehul Choksi and Nirav Modi and has been working for them since last four years."
Finance Minister Piyush Goyal said the instances of people running away and evading the legal process was increasing and this needed to be stopped, as the current laws do not allow fully dealing with the severity of the problem.
The financial fraud, one of the biggest in the state as per records, was being investigated by the different departments of Himachal Pradesh for the past over four 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.
"I don't care if someone doesn't like my visits to Madhya Pradesh. I will continue to talk about farmers, employment to the youth and good education," said the Patidar agitation leader.
Upgradation to the new product (from Infosys) will stabilise by this month-end
The capital infusion would help improve the financial health of banks. While some banks would get necessary regulatory capital while others would get it for fueling growth.
"The downgrade of the bank's BCA and ratings reflects the negative impact of the discovery of a number of fraudulent transactions on the bank's standalone profile, particularly its capital position," the rating agency said in a report.
There was a massive 24% decline in India's gems and jewelry exports to $2,321 million for September 2018 as against $3,053.38 million in the same period last year.
According to RBI's circular, cases of frauds involving more than Rs 25 crore and up to Rs 50 crore should be given to the CBI's Banking Security and Fraud Cell
The good, the bad and the not so impressive...
Banks have become more vigilant over the past two weeks, with many more officials involved in loan approval and disbursal.
"Our preliminary estimates show we may have to provide for around Rs 60 billion in the balance sheet for the quarter ending on March. The due date for LoUs amounting to Rs 60 billion is falling in the present quarter. This will be a contingent liability for the bank," said a senior executive, on condition of anonymity.
The CBI on Wednesday directed him to contact the embassy of India in a country where he is staying so that his travel to India can be arranged
As many as 6,801 cases of fraud were reported by scheduled commercial banks and select financial institutions involving an amount of Rs 71,542.93 crore in the last fiscal.
India looking at bringing back Choksi under Antiguan law applicable to Commonwealth countries
'We are opening stores in towns that are unheard of where the attachment to jewellery is strong and accompanied by the Tata brand pull.'
The Bill provides comprehensive legislation to prohibit unregulated deposits, with punishment for those promoting such schemes or defaulting on repayment.
Tax sleuths have detected over Rs 52 crore of unexplained cash in jewellers' bank accounts
Sibal termed these allegations as an attempt to divert attention from issues of national importance such as the CBSE paper leak.
The RBI will take action against, apart from erring auditors, those responsible for wrong information in a bank's financial statements, incorrect certification given by auditors, wrong information given in the Long Form Audit Report, and any other violations of the RBI's rules and regulations on auditing.
'The Modi government has been taking credit for improvement in respect of the ease of doing business in India.' 'But when I look at the scams I cannot help feeling that it is too easy to do business with banks in India, if one is a Harshad Mehta, Vijay Mallya or Nirav Modi and their tribe,' says former Union home secretary Madhav Godbole.
The meeting is expected to chart a road map for cleaning up their balance sheets and boost credit flows, reports Somesh Jha.
He claimed the NDA government bought the planes at Rs 1,600 crore a piece as against the Rs 526 crore for each aircraft fixed by the UPA.
Jabir Moti, 51, who was arrested by Scotland Yard last year, appeared before the Westminster Magistrates' Court in London at the start of his trial.
'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.
'And so, despite demonetisation, people in business feel safe with Mr Modi,' points out T N Ninan.
"He (Modi) is not a chowkidar (watchman), but bhagidar (partner, of capitalists)," Rahul Gandhi charged.
'So you wonder, couldn't he have combined these two qualities: His love of his own voice, and his acting talents, to voice concern about the Kathua and Unnao rapes?' asks Jyoti Punwani. 'His supporters are siding with the accused in the first case, and are the accused in the second.'
'There are so many issues that the CVC is examining both with reference to the PNB and RBI,' K V Chowdary said.
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.
'All governments try owning the message, but the Modi-Shah BJP has developed it into a fine art.'
Surjewala alleged that Mehta and his family were allowed to leave India even when there were complaints pending against him with the CBI.
'We don't trade with any business where we have specific concerns,' a De Beers spokesperson said.
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