Banks Session Court South India

UBI , SCB Bankers convicted for rigorous imprisonment for duping bank 6.1 crores

The CBI had registered the case on the allegations that between 2006 and 2007 the Directors of National Medicines Private Limited had conspired with Kannan and Ramakrishnan with an intention to cheat the Union Bank of India.   They fraudulently availed the enhanced Cash Credit (CC) facility from Union Bank of India by submitting the Read More…

Banks Companies Industries Session Court

ED arrested Former ICICI Bank MD Chanda’s Husband after 18 months

Enforcement Directorate (ED) on Monday arrested Deepak Kochhar, husband of ICICI Bank former managing director and chief executive officer (CEO) Chanda Kochhar, in connection with ICICI Bank-Videocon money laundering case.   This is the first arrest since the case was registered in February 2019.   The action follows hours of grilling based on new evidence Read More…

Banks Indian Subcontinent Market Supreme Court

Supreme Court exasperated with Modi government attitude on RBI’s EMI moratorium

The Supreme Court on Wednesday said that the problem in the country’s economy was created due to the government’s decision to impose strict lockdown earlier this year and it was concerned about the plight of the common man.   The strict nationwide lockdown was imposed in March this year to curb the spread of coronavirus Read More…

Banks Indian Subcontinent Market

In 12 months RBI transferred 2.33 Lakhs Crores to BJP led Modi Government as dividend

The Reserve Bank of India board on Friday, August 14, again approved a dividend payout of Rs 57,128 crore to the Narendra Modi-led BJP government.   In a statement, the RBI said its central board headed by Governor Shaktikanta Das “reviewed the current economic situation, continued global and domestic challenges and the monetary, regulatory, and Read More…

Banks Indian Subcontinent Industries Jobs Market

Economic Collapse : Modi Cajoles Banks in India to offer more credit

Following Economy down scale prior outbreak of Covid-19, and then lockdown issue bank credit growth fallen drastically to 7 per cent in May from 11.5 per cent a year ago.   The growth is likely to remain muted during the current fiscal due to uncertainty and consequent risk aversion on part of borrowers as well Read More…

China Companies High Court Indian Subcontinent Jobs Voice

59 Chinese apps ban : AAP questions AIIB China 750mUS$ Loan status quo

Aam Aadmi Party (AAP) leader Sanjay Singh on Sunday thrashed BJP led modi centre government, accusing it of taking a loan of Rs 5,700 crore from China and on one other hand and on other hand asking people to boycott the neighbouring country   “The drama of BJP is praiseworthy. You tell the country to Read More…

Asia Market

Fitch takes Moody ADB route in downgrading India rating

Fitch Ratings on Thursday downgraded India’s outlook to ‘negative’ from ‘stable’, stating that poor management of coronavirus pandemic has significantly weakened the country’s growth prospects for the year and exposed the challenges associated with a high public-debt burden.   The move comes after another rating agency Moody’s earlier this month downgraded India’s sovereign rating by Read More…