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
Va Quarter Cutting is brilliant in parts
'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.
'Last year, Rs 20,000 crore was ripped off from the banking system.' 'The situation has deteriorated under the Modi government.'
The Federation of Indian Associations has come out with proposals to perpetuate the memory of murdered Old Bridge, New Jersey, computer science engineer Divyendu Sinha and to enhance safety and security in the neighborhood after a meeting with township Mayor James Phillips last week.
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.
The former PM attack on the Modi government for its "disastrous policies" and "economic mismanagement".
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."
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.
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.
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.
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.
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.
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.
The PNB fiasco falls into a family line that involves non-fund limits - read contingent liabilities which are off-books. Harshad Mehta did it with bankers' receipts in 1992. Ketan Parekh exploited the ignorance of bankers who did not know the difference between a cheque and a pay-order. And the RBI blinked when it failed to insist the SWIFT platform be linked to the core banking solution. Raghu Mohan & Abhijit Lele trace the banking mess that was just waiting to happen.
"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.
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.
"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
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
'We are opening stores in towns that are unheard of where the attachment to jewellery is strong and accompanied by the Tata brand pull.'
'And so, despite demonetisation, people in business feel safe with Mr Modi,' points out T N Ninan.
Tax sleuths have detected over Rs 52 crore of unexplained cash in jewellers' bank accounts
The good, the bad and the not so impressive...
India looking at bringing back Choksi under Antiguan law applicable to Commonwealth countries
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.
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.
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
Women dominate Indian banks's clerical and officer rolls, but few make it to the executive office these days, notes Tamal Bandyopadhyay.
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.
Nirav Kapasi recommends Devraj Coffee Corner for mouth watering Italian fare in Rishikesh.
The Bill provides comprehensive legislation to prohibit unregulated deposits, with punishment for those promoting such schemes or defaulting on repayment.
The meeting is expected to chart a road map for cleaning up their balance sheets and boost credit flows, reports Somesh Jha.
"He (Modi) is not a chowkidar (watchman), but bhagidar (partner, of capitalists)," Rahul Gandhi charged.
Sibal termed these allegations as an attempt to divert attention from issues of national importance such as the CBSE paper leak.
'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.'
'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.
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