New Delhi: The CBI on Thursday said that it has registered a fresh case against diamantaire Nirav Modi for causing a loss of Rs 321 crore to Punjab National Bank (PNB) by availing different credit facilities between 2013 and 2017. According to a Central Bureau of Investigation official, the case[Read More…]
New Delhi: The Supreme Court on Tuesday put a stay on proposed amendments to the Delhi Master Plan 2021 that sought to protect traders from a sealing drive in the national capital by increasing the floor area ratio (FAR). A bench of Justice Madan B. Lokur and Justice Deepak Gupta[Read More…]
New Delhi: The deadline for linking Aadhaar with all customer bank accounts by March 31, 2018, should be extended in view of the disruption to the banking system on account of the Rs 12,600 crore fraud on state-run Punjab National Bank (PNB) by accused diamantaire Nirav Modi, industry chamber Assocham urged[Read More…]
Mumbai: The Indian media and entertainment sector revenues reached $22.7 billion in 2017, and are expected to cross $31 billion by 2020, at a compound annual growth rate (CAGR) of 11.6 per cent, said a study released here on Sunday. The report by the Federation of Indian Chambers of Commerce and[Read More…]
San Francisco: To help local businesses hire the right people, Facebook has expanded the ability to apply to jobs directly on its platform to more than 40 countries. Rolled out in the US and Canada in 2017, Facebook’s job application feature is different from Microsoft-owned LinkedIn as it is focused[Read More…]
New Delhi: The Rs 12,600 crore fraud-hit Punjab National Bank on Thursday clarified that the Reserve Bank of India (RBI) had done risk-based supervision of the bank on an annual basis. “There have been reports in a section of media that Reserve Bank of India has not conducted any audit[Read More…]
New Delhi: A day after the government set a 15-day deadline for public sector banks (PSBs) to examine all non-performing assets above Rs 50 crore for possible fraud and to identify operational and technical gaps, industry chamber Ficci on Wednesday said the move would help in ensuring the much-required cleansing[Read More…]
Mumbai: The fraud-hit Punjab National Bank (PNB) has reported an additional Rs 1,300 crore unauthorised transactions, taking the estimated quantum to Rs 12,600 crore in the scam related to diamond trader Nirav Modi and owner of Gitanjali Gems, Mehul Choksi. In a 11.22 p.m., late night filing with the stock exchanges[Read More…]
Chennai: The Central government is working on different new technologies, including fuel, for maritime transport to cut costs, said Union Shipping and Water Resources Minister Nitin Gadkari here on Monday. “We are working with lot of new technologies nowadays. We are planning to use methanol as a fuel for all[Read More…]
New Delhi: The decision taken by the previous UPA government to tax British telecom multinational Vodafone Group retrospectively was an “erroneous” one, the likes of which the ruling NDA would be loath to repeat, Finance Minister Arun Jaitley said on Saturday. He was responding to a question from the audience here[Read More…]
San Francisco: Twitter has lost almost all of the $70 million money it had invested in music streaming platform SoundCloud, the company said in its 2017 annual report. According to the filing, the company had to write off a total of $66.4 million of the $70 million it had invested[Read More…]
New Delhi: Three fresh cases of financial fraud have come to light after the CBI filed cases against a jeweller, a businessman and a public servant on complaints by three different banks earlier this week, an official said on Saturday. On Thursday, the Central Bureau of Investigation registered a case[Read More…]
Washington: In a move that is likely to hit Indian IT firms and their employees, the Trump administration has announced a new measure that makes it tougher to issue H-1B visas to those to be employed at one or more third-party worksites. The US Citizenship and Immigration Services (USCIS) published[Read More…]
New Delhi: The practice of illegally issuing Letters of Understanding (LoUs) and Foreign Letter of Credits (FLCs) and then rolling them over to favour Nirav Modi and Mehul Choksi groups started in 2008 and continued till these were discovered in January this year, according to CBI officials. The illicit activities resulting[Read More…]
New Delhi: Aiming to help domestic smartphone manufacturers recover lost ground, the government has taken several measures in the recent past, like easing norms for local manufacturing and hiking customs duty on mobile phones. The efforts, however, have brought little cheer for the beleaguered local vendors, as Chinese players —[Read More…]
New Delhi/Mumbai: The Enforcement Directorate on Thursday said it has seized nine high-end luxury cars belonging to Nirav Modi besides crores of assets in connection with its ongoing probe into the Rs 11,300 crore Punjab National Bank fraud case. Coming down on the diamond czar, the ED seized one Rolls[Read More…]
In a blow to government employees, the Employees Provident Fund Organisation (EPFO) on Wednesday decided to lower the interest rate on provident fund deposits to 8.55 per cent from the existing 8.65 per cent. The rate cut decision for the fiscal 2017-18 was taken at the meeting of the Central[Read More…]
Mumbai: Essar Oilfields Services India Ltd announced on Wednesday that it has won a contract worth Rs 28 crore from state-run gas utility GAIL India to drill three firms and two optional wells in the Cambay Basin in Gujarat. Drilling for the project is expected to commence in April-May 2018, Essar[Read More…]
New Delhi: The Income Tax Department on Tuesday said an “inquiry notice” was sent to Congress leader Abhishek Manu Singhvi’s wife Anita who had allegedly bought diamonds and jewellery worth Rs 6.5 crore from a store owned by fugitive Nirav Modi. “An inquiry notice has been served to Anita Singhvi[Read More…]
Hyderabad: The National Association of Software and Services Companies (Nasscom) on Monday launched a platform to upskill two million IT employees and skill two million youth in eight emerging technologies starting with Artificial Intelligence (AI). Prime Minister Narendra Modi launched the FutureSkills platform while formally inaugurating the World Congress on[Read More…]
New Delhi: The arrested deputy manager of Punjab National Bank (PNB) has told investigators that he had unauthorisedly obtained Level-5 password to the SWIFT system to authorise issuance of money through Letters of Undertaking (LoUs) and Foreign Letters of Credit (FLCs). Shetty made the startling revelations when sleuths of Central[Read More…]
New Delhi: The Enforcement Directorate (ED) on Monday conducted searches at over 40 more locations in several cities across India in connection with the multi-crore Punjab National Bank (PNB) scam, an official said. The agency raided 10 places in Mumbai, six each in Ahmedabad and Bengaluru, four in Chennai, three[Read More…]
Mumbai: Following the unravelling of the $1.8 billion Punjab National Bank (PNB) fraud, two senior officials of Gitanjali Gems — Chandrakant Karkare and Pankhuri Warange — resigned from the company, according to a regulatory filing with the stock exchanges on Monday. Industry chambers condemn $1.8 bn fraud, rap functioning of[Read More…]
New Delhi: The Central Bureau of Investigation (CBI) has arrested Punjab National Bank’s retired Deputy Manager, Gokulnath Shetty and two others in a multi-crore bank fraud case, officials said on Saturday. “CBI has Shetty, Single Window Operator Manoj Kharat and authorised signatory of the Nirav Modi Group of Firms, Hemant[Read More…]
New Delhi, Feb 16: The CBI on Friday registered an FIR against the Gitanjali Group of companies based on a complaint registered by the Punjab National Bank in a multi-crore fraud case, sources said. The PNB had filed the complaint on February 13 in the Rs 11,515 crore ($1.8 billion)[Read More…]