The cases pertain to State Bank of India, Punjab National Bank, Andhra Bank, Oriental Bank of Commerce, Indian Overseas Bank, Allahabad Bank, Canara Bank, Dena Bank, Punjab and Sind Bank, Central Bank of India, Union Bank of India, IDBI Bank, Bank of Baroda, Bank of Maharashtra and Bank of India.
The country's largest lender SBI will levy charges for cash withdrawal beyond four free transactions in a month from customers holding the basic savings bank deposit (BSBD) accounts. These customers will also be levied charges for cheque book beyond 10 leaves in a year. As per the revision in service charges for BSBD accounts, State Bank of India (SBI) will levy charges ranging from Rs 15 to Rs 75 for the "additional value added services" with effect from July 1, 2021.
His brother Nishal, a Belgian citizen, also left the country on January 1, while wife Ami, a US citizen, and business partner Mehul Choksi, the Indian promoter of Gitanjali jewellery chain, departed on January 6, the officials said.
Insurance behemoth LIC on Tuesday said it has garnered a little over Rs 5,627 crore from anchor investors led primarily by domestic institutions ahead of its mega initial public offering (IPO). Anchor Investors' (AIs) portion (5,92,96,853 equity shares) was subscribed at Rs 949 per equity share, the insurer said in an early morning filing to exchanges. Out of the allocation of about 5.9 crore shares to AIs, 4.2 crore shares (71.12 per cent) were allocated to 15 domestic mutual funds through 99 schemes, the filing said.
"I can assure you that he will be ultimately deported after exhausting all his appeals. He will be extradited back to India to face whatever charges against him. It is just a matter of time," Gaston Browne told ANI.
Many from this small lender have made it to other bank boards over the past 5 years
Analysts believe that investors should look at stocks that hit 52-week lows only if they have a dividend paying track record, are debt-free and have sound fundamentals.
Although the Haryana police claim to have solved the sensational Rs 100 crore bank heist case in Gohana town of Sonipat, the family of the robbery's alleged mastermind refuse to believe the cops. The family of Mahipal Banwala, the alleged mastermind who was found dead in his car, refuse to believe that a strong self-made man like him could never have committed suicide.
The Dominica high court has granted bail to fugitive diamantaire Mehul Choksi, allowing him to travel to Antigua and Barbuda for treatment of his neurological condition, local media there reported. The high court has granted a consent order permitting Choksi to go to Antigua, where he has been staying as a citizen since 2018 after he left India, after depositing Eastern Caribbean Dollars 10,000 (approximately Rs 2.75 lakh as per exchange rate) as bail money, Antigua Breaking News reported. The court has also stayed the ongoing trial before a magistrate for his alleged illegal entry into Dominica on May 23, it said.
'Four weeks have passed after the scam was exposed, yet no big guy has been arrested.' 'This gives the impression that he wants to be soft on the biggies.'
Alleging that his arrest in Dominica for illegal entry was "dictated" by representatives of the Indian government, absconding diamantaire Mehul Choksi has filed a case in the high court of Roseau, seeking to quash the proceedings against him, local media there reported. The case was filed against the immigration minister of the Caribbean nation, its police chief and the investigating officer of the case. Choksi, who went missing from Antigua and Barbuda where he had been living since 2018 after his escape from India, was arrested on May 23 in neighbouring Dominica for illegal entry. He was declared a prohibited immigrant by the Ministry of Immigration in Dominica.
The banking sector's credibility is on thin ice. Unless the government takes strict steps, things could get worse.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
The imapsse continues over issues like bank scams and special status demand for Andhra Pradesh.
Currently, the enforcement officers are making seizures of assets directly and indirectly connected to offenders, including jewelers Nirav Modi and Mehul Choksi in the Punjab National Bank fraud and Vijay Mallya in the Rs 9,000-crore IDBI loan case.
With this, India joins 60 other countries that collect PNR details of international passengers.
The opposition has been protesting over various issues, including the Punjab National Bank scam, since Monday when Parliament had reconvened after a month-long recess in the Budget session.
The BJP chief said the ED and the CBI have taken prompt action in the Nirav Modi case.
The government, on its part, is seeking to counter the opposition's offensive by bringing the Fugitive Economic Offenders Bill.
The diamond merchant wanted in India on charges of fraud and money laundering in the estimated $2-billion Punjab National Bank scam case, lost his legal battle against extradition as a UK judge ruled that he does have a case to answer before the Indian courts.
Mihir Tanna, Associate Director, S K Patodia & Associates, answers your tax queries.
Sebi orders attachment of bank, demat accounts of Mehul Choksi and Gitanjali Gems after they failed to pay fine imposed on them.
That's the only way to convince those who have money to return to the bank fold, ditching other asset classes, says Tamal Bandyopadhyay.
Govt renews search for five PSU bank chiefs; norms relaxed.
State Bank of India, HDFC Bank, Kotak Mahindra Bank, and IDFC Bank have filed a petition against the notice, in a last-ditch attempt by the banking system to keep the information confidential. The notice was given to the lenders under Section 11(1) of the RTI Act, seeking third-party disclosure requirements. While the apex court's original directive in 2015 applied to the full report, it was subsequently agreed that not the entire report but only relevant portions, such as those on bad debts and borrowers, would be made public.
Public sector lender Bank of India has moved to the National Company Law Tribunal (NCLT) seeking initiation of insolvency proceedings against Future Retail Ltd and a moratorium over the assets of the Kishore Biyani-led debt-ridden firm. Besides, Bank of India (BOI), the lead banker of a consortium of banks that lent money to Future Retail Ltd (FRL), also suggested the insolvency tribunal appoint Vijay Kumar V Iyer as the interim professional of the company. Meanwhile FRL, in a regulatory filing, said it has been served and received a copy of the petition and is in the "process of taking legal advice".
The legal procedure of extradition of an accused takes its own time and Indian investigators, both from the CBI and ED, are tracking the case.
Despite Nirav Modi win, in the last five years, India managed to bring only about 20 fugitive offenders.
The attached properties include three commercial assets based in Dubai, a Mercedes Benz car and a number of fixed deposits in bank accounts in the country and outside, the agency said.
Ajit Mishra, vice president, research, Religare Broking, answers your queries.
The RBI also looked into the effectiveness of systems and processes for implementation of KYC norms
"He is expected to be produced before the court for a second bail application hearing on March 29," a court official in London confirmed on Tuesday.
'The snakes and ladders game will continue till the consolidation process is complete simply because we don't know how bad the scene is, with some of the banks being merged,' says Tamal Bandyopadhyay.
Switching to a damage-control mode, bankers and government officials claimed that Jet Airways wouldn't fall even if Etihad refuses to back the resolution plan and exits.
Choksi has appealed to the Interpol to not issue an RCN against him as the charges are politically motivated, officials said
The bench also said there was merit in ED's contention that while the "driving force behind the companies" (Modi) was not submitting to the agency's jurisdiction, his companies cannot be given any discretionary relief.
The government must set up a Bank Investment Company to shrink its role in PSBs, if we are serious about tackling the two persistent issues - lax corporate governance practices and discretionary decision-making, says Shyamal Majumdar.
Officials said the Enforcement Directorate along with the Central Bureau of Investigation launched fresh searches on March 22 at the Samudra Mahal luxury residential flats of Modi in Mumbai's Worli area which resulted in the recovery of fresh valuables.
From hitting the 1,000-mark on July 25, 1990 to reaching the 60,000-mark for the first time on Friday, it has been a historic and memorable journey for the benchmark index Sensex. It has taken a little over 31 years for the Sensex to traverse from 1,000 level to the famed 60,000 level now. Over the years, the frontline index has climbed several record levels. The index had reached the 10,000-mark for the first time on February 6, 2006.
Currently, Choksi has got interim relief from immediate repatriation to India by the Dominican court.
