The RBI has this year cut interest rates by 110 basis points in four instalments but banks have passed only a part of it to borrowers. Before the last reduction earlier this month of 35 basis points, the bank on an average had passed only 29 basis points out of 75 basis points cut affected during 2019.
"I think bankers have expressed some concern that they should not be held liable for actions that are taken in the full spirit of what is needed," Raghuram Rajan said.
The Central Bureau of Investigation has registered a case against Janata Dal-United Rajya Sabha MP Anil Kumar Sahani for alleged filing of fraudulent Leave Travel Concession claims using forged air tickets and boarding passes and carried out searches on Friday at Rajya Sabha Secretariat and other locations.
The Civil Aviation Ministry has submitted replies to the CVC on a series of allegations raised by Nishikant Dubey against the deal and clarified all concerns raised by him, official sources said.
Armed with some documents pointing to large-scale irregularities, the Central Bureau of Investigation will soon register cases to probe the alleged involvement of some Rajya Sabha MPs and central government employees in forging leave travel concession claims for travel on state-run Air India.
As per the norms, sanction for prosecution has to be decided within four months time of the CBI seeking such a permission.
The probe into the alleged fake encounter case of Sadiq Jamal of 2003 in Gujarat will enter yet another phase with the Central Bureau of Investigation all set to question former Special Director of Intelligence Bureau Sudhir Kumar in connection with the case.
'Alok Verma can say he was helpless, but he could have made representations to the CVC, the Chief Justice of India or the prime minister in writing.' 'He could have told them that his number 2 was not cooperating and is corrupt, but he did not do that.' 'He acted arbitrarily and in a hurried manner, overnight.'
A petition has sought laying down of specific mechanisms to ensure transparency in the process of appointment of CBI director.
CBI has registered 18 FIRs so far in the coal scam.
'We can't have the best of both worlds -- large, efficient, world class government-owned banks, doing social banking and making profits. 'Why not set them free from the shackles of such obligations and run them as business units?' says Tamal Bandyopadhyay.
The investigative agency wanted four weeks, arguing some more investigation has to be carried out in the case.
Making it clear that there will be no compromise on corruption, Delhi Chief Minister Arvind Kejriwal on Sunday said anyone embroiled in corrupt practices will not be spared be it former chief minister Sheila Dikshit, any Bharatiya Janata Party member or even his own party member.
Addressing a press conference in the nation's capital, he claimed that Verma's removal was an "insult" to the Constitution, the chief justice of India and the leader of the opposition.
Attorney General K K Venugopal told a bench headed by Chief Justice Ranjan Gogoi that the fight between the two officers impacted the image of the CBI.
There is no need for increased superintendence over the CBI in the aftermath of the coal blocks allocation and 2G scam cases, CVC K V Chowdary said on Sunday.
A special court on Thursday acquitted all accused in the 2G spectrum allocation scam cases. The scam relates to the granting of 2G spectrum licence allocations in 2007-08 which caused, according to a report by the Comptroller and Auditor General of India, a loss of Rs 1.76 lakh crore. Here is a detailed timeline of how the case came to light and how it has progressed over the years:
Another meeting will be called next week at a mutually-convenient date.
Sensex, Nifty under pressure on weak global cues.
Facing accusations of policy paralysis, Prime Minister Manmohan Singh on Friday admitted that growth rate had slowed down because clearances were not granted to infrastructure projects for the fear of Comptroller and Auditor General and Central Vigilance Commission.
Central Bureau of Investigation has written to the law minister expressing reservations over the new provisions introduced through Lokpal where the agency will have to take the nod of Central Vigilance Commission before filing charge sheets in cases referred by the anti-corruption watchdog.
The much-delayed Lokpal Bill has finally been passed by both the Houses of Parliament. Following are some important features of the Lokpal and Lokayuktas Bill, 2011, passed by Parliament
'There is corruption at various levels'.
'With the Election Commission wisening up to the practice, which strikes at the very root of electoral democracy, the practitioners of cash for votes have been getting more and more ingenious,' points out Saisuresh Sivaswamy.
The CBI chief's advocate said there was no basis for the Central Vigilance Commission to pass such an order recommending to send him on leave.
A bench headed by Chief Justice Ranjan Gogoi ordered that the confidential CVC report be given to Verma in a sealed cover and asked him to respond to it by Monday, also in a sealed cover. It will take up the matter on Tuesday.
The Supreme Court on Tuesday said Narayanaswami Srinivasan's son-in-law Gurunath Meiyappan's role in the Indian Premier League betting and spot-fixing scandal seems like "insider trading" and agreed to hear a plea to make public the names of cricketers who were mentioned in the Justice Mudgal Committee report.
The Congress' protests in the national capital were replicated in other parts of the country.
The apex court agreed to hear on October 26 the petition by Verma challenging the government's decision. He has said in the petition that the CBI should be kept independent of the Department of Personnel and Training, which has jurisdiction over the probe agency, since it seriously hinders the CBI's independent functioning.
After taking over on Tuesday night, Rao overhauled the team probing allegations of corruption against Asthana, bringing in completely new faces, officials said.
The alleged meetings of former Director of CBI Ranjit Kumar Sinha with the accused in coalgate and 2G cases were'inappropriate', said SC.
Decision-making has to be much quicker, the finance minister said.
Besides PESB selected chairman designate B Ashok (currently Executive Director retail sales in IOC) having no board experience, the case for extending Butola's service is more compelling because all the other six directors on board of the nation's largest oil firm are retiring in next one year.
The CVC had asked the CBI to probe the 'irregularities in the tendering process and award of contract and undue benefit caused to the SAP/IBM'.
The Delhi high court on Wednesday issued notice to Union Health Minister J P Nadda on a petition seeking a CBI inquiry into various cases of alleged irregularities and corruption in AIIMS raised by then Chief Vigilance Officer Sanjiv Chaturvedi.
Rapid rise in disposal of corruption cases against govt employees has helped
The Central Vigilance Commission has convened a meeting with Central Bureau of Investigation Director Ranjit Sinha to discuss the missing files with details of coal block allocations.
Senior IPS officer Archana Ramasundaram on Thursday took over as the Central Bureau of Investigation's first woman Additional Director but was suspended by Tamil Nadu government late in the night for allegedly not following rules before joining the central probe agency.
The onus is on companies to put in place a vigil mechanism to detect and deter fraud.
The probe into selections for banks such as Bank of Baroda and Canara Bank followed the arrest of Syndicate Bank CMD S K Jain for alleged graft.
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