The BJP chief said the ED and the CBI have taken prompt action in the Nirav Modi case.
The recapitalisation, the finance minister said, will enhance the lending capacity of state-owned banks and help them come out of RBI's Prompt Corrective Action framework.
The event will also hurt PNB's asset quality in the March 2018 quarter. While the finer details of the fraud have not been provided, making it difficult to gauge the exact impact, analysts say it will dent the bank's financials.
The Ministry of Home Affairs amended its guidelines on October 12 to include the chairman, managing director or chief executive officer of each public sector bank on the list of authorities who can issue requests for opening look-out circulars against whom an FIR is yet to be filed.
Experts say the recent Rs 14,000-crore PNB fraud could have been avoided had there been an integration of PNB's CBS with its SWIFT system
Women dominate Indian banks's clerical and officer rolls, but few make it to the executive office these days, notes Tamal Bandyopadhyay.
Look who's made it to the magazine covers this month.
The Congress president said that if he was allowed to speak for 15 minutes on a host of issues, including the Nirav Modi scam, PM Modi would "run away".
'The appellant (Mallya) has five business days to apply for oral consideration. If a renewal application is made, it will be listed before a high court judge and dealt with at a hearing,' a spokesperson for the UK judiciary said.
The bench also extended the interim protection from arrest granted to Chidambaram till September 5.
The possibility of the slowdown affecting more players is greater if the industry doesn't get access to easier finance in the next six to eight months.
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.
However, the Indian capital markets regulator rejected the claim saying it neither received any such request, nor provided any such information to the concerned department in Antigua.
In its letter, finance ministry has pointed to sections 35, 35A and 36 of the Banking Regulation Act, 1949, to highlight the powers and functions of the RBI as regulator
When 17 million Indians seek their fortune abroad it only means people are losing faith in the government's ability to honour its promises, says Sunanda K Datta-Ray.
Despite the rating agency CARE withdrawing the ratings assigned to the bank facilities of FIPL "with immediate effect" following the receipt of a no-objection certificate (NOC) from the banks, Modi's company received uninterrupted letters of undertaking (LoUs) from PNB, which were honoured by other banks until a few weeks ago.
'The vitriolic campaign now in progress, the underlying threat of violence, and the elevation of Pragya Thakur as a star candidate are key markers in the BJP's obstacle-strewn march back to New Delhi,' says Sunil Sethi.
The protesting students claimed that when they reached Red Fort, police did not allow them to take out the march but they did not budge and said they would make their voices heard.
The Congress is seeking to oust the BJP government in Haryana in the October 21 polls.
The Harvard alum has known the Yale alum for ages, but hit it off recently.
Jaitleysaid Mallya misused his position as an MP to accost him once in Parliament.
'Fear psychosis has gripped the entire world.' 'Nobody is going to enter shops freely in the next 5, 6 months.' 'Secondly, the priority has changed.' 'Now that they have seen the bottom of the economy, people will prefer to save for tomorrow.'
'We were number one in commodity, currency, electricity, bonds, spot and everything. 'The purpose was to create an accident and then exploit it to eliminate the group. There were so many vested interests and therefore they did this," said Shah.
There are around 6,500 diamond manufacturers of which Palanpuri Jains operate a mere 6 per cent, or around 400 companies. But they stand out for being highly interlinked through blood ties.
The GST Council on Saturday is expected to extend the date for IGST exemption and cess on imports
In a 7-page letter Choksi said, he was being threatened by the individuals with whom he has business relationship and due to the seizure of his assets, his employees, customers and creditors have started to show animosity towards him.
The 20 richest people on the planet are worth a staggering USD 1.2 trillion, a sum roughly equivalent to the annual economic output of Mexico.
According to ED sources Sunil Mehta said the fraud took place due to "systemic failure" and "procedural lapses", owing to lack of interface or proper links between the core banking software and the SWIFT interbank messaging system.
FinMin finally sacked executive directors K V Brahmaji Rao and Sanjiv Sharan on January 18. The bank's board, however, had felt they had no criminal intent and it was a case of 'casual oversight'
The union government was taking effective steps to rid the country of corruption and nepotism, he said.
As per the existing process of law under the PMLA, the ED could confiscate the assets only after the trial in a case finishes which usually takes many years.
Despite the 6-month high, trade deficit has widened to a four-month high of $14.62 billion, as imports rose by 14.85 per cent during the month, reports Subhayan Chakraborty.
More than 1,000 independent directors have quit since January 2017; more could be on their way out
However, the road to profitability has already hit some hurdles for the Delhi-based bank as the Union government has rejected its demand for an additional capital infusion of around Rs 8,000 crore in 2018-19
'One by one we are seeing these private banks taking people's money and mismanaging it.' 'In the last 30 years, 30 private banks have collapsed.' 'Nationalise all banks so that people's money is safe.'
Rahul said Modi cannot speak on corruption as the party's chief ministerial candidate Yeddyurappa faced graft allegations.
The decision to do away with Rs 500 and Rs 1,000 notes accelerated the slowdown in economic activity with growth averaging 6.8 per cent in the seven quarters after it, as against an average of 8 per cent in the six quarters preceding it, says former chief economic advisor Arvind Subramanian.
CBI officials, who questioned former RBI deputy governor H R Khan on Friday, wanted to understand from him why the gold scheme was rushed through without taking into the account the impact and potential misuse.
What kind of chowkidari is Narendra Modi doing, asks Rahul.
Presenting a roundup of the glossies this month. VOTE for your favourite cover girl.
© 2026 Rediff.com - Investor Information - Advertise with us - Disclaimer - Privacy Policy - Sitemap - Feedback - About us - Terms of use - Grievances