Sources said Sankaran has been arrested on the grounds of abusing his powers in IL&FS Financial Services Ltd through fraudulent conduct and in granting loans to entities that were not credit-worthy or were declared as non-performing accounts.
In his petition, the vice admiral has challenged the government's move to ignore seniority and appoint his junior as the next chief of navy.
The SC observed that the government should be more worried about the health of citizens rather than the health of commercial airlines.
The other board members will be Sunil Mehta, former non-executive chairman of Punjab National Bank, as the non executive chairman of Yes Bank, Mahesh Krishnamurthy and Atul Bheda as non-executive directors.
The 59-year-old Rana, a childhood friend of David Coleman Headley, was re-arrested on June 10 in Los Angeles on an extradition request by India for his involvement in the 2008 Mumbai terror attack in which 166 people, including six Americans, were killed.
To a question related to RBI's policy rate, Rajan said no amount of interest rate cut is going to help if credit growth is weak.
As per the RBI directions to PMC Bank, withdrawals have been capped at Rs 1,000 per account and the bank is not allowed to make any fresh loans.
General Qamar Bajwa, his colleagues say, is a firm opponent of extremism and terrorism. He may prove even more forceful in the fight against terrorism than his predecessor, who is credited with launching Operation Zarb-i-Azb, which helped lower the frequency of terrorist attacks.
IT, FMCG and manufacturing sectors are less attractive to foreign portfolio investors
Since the RBI is the 'lender of the last resort', as per terms of arrangement, Yes Bank would have to exhaust immediate liquid assets before accessing this fund.
This is the fifth increase in withdrawal limit since the bank was placed under its direct control with an administrator on September 23. Since then as many as nine depositors have lost their lives including a 74-year-old man from Thane on Monday.
'Many enter the civil services with the desire to do good work but get beaten by the system, step back or become part of it.' 'Ten fantastic officers out of 100 can completely change the game.'
The more competent junior or the outsider with experience in the field should get the higher post.
The billions India invested in dams, schools, etc in Afghanistan will be gone. The Hindu and Sikh population of Afghanistan has already shrunk from some 200,000 to about 500, points out Rajeev Srinivasan.
The Principal Secretary of Planning Commission also requested the people of Jammu and Kashmir on behalf of the central government to maintain peace.
Pakistan's Prime Minister has appointed an interim management committee (IMC) to supersede the Pakistan Cricket Board in order to reorganise the country's cricket structure.
'The Swedish government would consider who will live, who will not die, in rationing coronavirus healthcare!' 'This means the 'biological age' would supersede the patient's chronological age as a potential guideline,' notes Ambassador M K Bhadrakumar
There is speculation that the 13th IPL, which was suspended indefinitely due to the COVID-19 pandemic, might be conducted in October-November if the T20 World Cup in Australia is postponed.
Athletics, hockey, badminton, boxing and shooting were among the 11 disciplines which were permitted to resume outdoor training following relaxations in the lockdown to contain the COVID-19 pandemic. The SOP, however, prohibits sparring for contact disciplines and has barred the use of swimming pools for now.
Soon after the lifting of the 13-day moratorium at 6 pm, some customers took to social media complaining that they were not able to access certain services, including internet and mobile banking.
Fraud-hit Punjab and Maharashtra Cooperative (PMC) Bank on Tuesday invited expression of interest (EoI) from potential investors for investment or equity participation in the bank for its reconstruction. Subsequent to commencement of the normal day-to-day operations, it will be open for the investors to convert the bank into a small finance bank by making an application to the RBI, the lender said.
The Yes Bank Reconstruction Scheme 2020, shall come into force on March 13, the gazette notification said.
As many as 17 three star generals will retire before General Bajwa hangs his boots, says Rana Banerji, who headed the Pakistan desk at the Research and Analysis Wing, India's external intelligence agency.
Investors took the Yes Bank event negatively because it raises a question on the stability of the overall Indian financial system.
Of the total, the financial creditors - banks, bond holders and other financial institutions - have claimed Rs 86,892 crore.
Defence ministry says the focus was on suitability and merit for the selection of the new Army chief.
Senior general refuses to retire, reveals Rana Banerji, who headed the Pakistan desk at the Research and Ananlysis Wing, India's external intelligence agency.
'I made it known through diplomatic channels that I was unhappy.' 'So, he called me and tried to explain, but I said this is something that doesn't happen between friends.'
Over the past two decades, six of the eight army chiefs have been from the infantry and the other two from the artillery division. The appointment of either General Bakshi or General Hariz would interrupt the infantry's prolonged domination of the army command, says Ajai Shukla, a retired army officer himself.
You're a captive audience to friends who want you to share the agony of their aches and pains, their spouse's experiments in the kitchen gone wrong, or partners' peccadillos, sighs Kishore Singh.
The Reserve Bank on Wednesday said the amalgamation of Lakshmi Vilas Bank with DBS Bank India will come into force from November 27 and the moratorium imposed on the crisis-ridden lender will be removed on that day. The RBI issued the statement within hours of the Cabinet clearing the Scheme of Amalgamation of Lakshmi Vilas Bank Limited (LVB) with DBS Bank India Limited (DBIL).
There will be different ways of returning the money, depending on the profile of the depositors and the amount, predicts Tamal Bandyopadhyay.
Chief Justice of India Ranjan Gogoi will administer the oath of office to the two judges on Friday, an official circular said.
CBI has alleged that Rana Kapoor entered into a criminal conspiracy with Kapil Wadhawan, DHFL director-promoter for round-tripping of funds where loans from Yes Bank to DHFL landed in companies owned by Kapoor's daughters, DoIT Urban Ventures.
Major General Asif Ghafoor's transfer indicates General Qamar Bajwa is well in control once more, pushing behind the discontent among the peer group of senior generals over extension of his tenure, says Rana Banerji, who headed the Pakistan desk at the Research and Analysis Wing, India's external intelligence agency.
The Congress and the Left on Sunday questioned the appointment of the new army chief by superseding two officers, saying every appointment by the government has become controversial.
Govt likely to get full control on policy rate.
James Law, an architect based in Hong Kong designs futuristic buildings to meet the big challenges in cities.
The high court's order came on a plea by acquitted individual and Kusegaon Fruits and Vegetables Pvt Ltd director Asif Balwa that the CBI has not placed on record the mandatory authority under the provisions of the CrPC.
The bank may post a loss of Rs 1,000 crore during October-December 2019-20 quarter, an analyst commented.
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