Search Results for: Banking Regulation Act

Punjab & Sind Bank scam: Mehul Choksi cheated bank of Rs 441 million

This is the first time the 111-year-old bank has come clean on the default perpetrated by Choksi, who has now settled as a citizen of Antigua & Barbados, the West Indies.

Oct 12, 2019

Fuel price set to spike as tension rises after Iran oil tanker hit in Red Sea

Iran suspects Saudi rocket attacks behind the fire that breaks out on the tanker laden with one million barrels of oil in the Red Sea off Jeddah; reports suggest the attack was in retaliation to Yemeni Houthi's drone strikes on Saudi Aramco oil installations.

Oct 11, 2019

Lakshmi Vilas Bank put under prompt corrective action framework

RBI pulls plug on Lakshmi Vilas Bank merger bid with Indiabulls Housing Finance

Lakshmi Vilas Bank placed under regulatory restrictions over high leverage last month will have to explore other ways to raise capital; IndiaBulls may turn to share buyback.

Oct 10, 2019

Sensex, Nifty retreat as banks fall; Indiabulls dips 9%, Airtel top gainer

The broader NSE Nifty was down 0.35 per cent at 11,273.60 by 0437 GMT, while the benchmark BSE Sensex was weaker by 0.31 per cent at 38,060.12.

Oct 10, 2019

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India slips by 10 places to rank 68 on global competitiveness index

The report, which is now in its 40th year, shows that India is amongst the worst-performing BRICS nations along with Brazil, which was ranked 71st this year.

Oct 9, 2019

Flats in Maradu Municipality in Kerala's Kochi to be demolished

Guinness record holder SB Sarwate to be Kerala's consultant in Kochi flat demolition

Sarwate holds the Guinness World Record for demolishing the maximum number of buildings and has joined the state government as a consultant for the obliteration of four flats in Ernakulam district of the state.

Oct 8, 2019

YES Bank seeks police probe over fake news; woos Microsoft for investment

Private lender YES Bank seeks multidisciplinary team to investigate the spread of alleged false news that has hit the bank's market cap; bank seeks strategic investment from Microsoft or one of the two other tech firms it is in talks with

Oct 7, 2019

HSBC to cut up to 10,000 jobs in drive to reduce costs: Report

HSBC could announce the beginning of the latest cost-cutting drive and job cuts when it reports third-quarter results later this month.

Oct 7, 2019

How TikTok got Sonali Phogat BJP ticket in Haryana

Sensing her popularity among TikTok users in Haryana, the BJP decided to pit the small screen actress and greenhorn activist against sitting legislator Bishnoi.

Oct 6, 2019

Nushrat Bharucha flaunts her hip tattoo in a skimpy white bikini and takes everyone's breath away

From jumping into the water to embracing the blue sky, Nushrat Bharucha was seen having a gala time during her beach holiday and we won't blame anyone if she's held responsible for global warming.

Oct 5, 2019

Sensex sheds 434 points after RBI policy meeting; rate-sensitive stocks tank

The RBI cut the repo rate by 25 basis points (one basis point is one-hundredth of a per cent) to 5.15% from 5.40% but Sensex and Nifty declined over 1% as growth worries took the centre stage.

Oct 4, 2019

PMC Bank fraud: ED files PMLA case, raids 6 locations in Mumbai

The ED has filed a money laundering case in the Rs 4,355 crore PMC Bank fraud and also registered an ECIR, equivalent to FIR, against crisis-hit real estate firm HDIL and its promoters.

Oct 4, 2019

Kerala's Maradu flat owners in dire straits as state rejects plea for extending deadline

The state authorities said the power and water supplies to the four apartment complexes - Jains Coral Cove, Golden Kayaloram, H2O Holy Faith and Alfa Serene - would be disconnected on Thursday.

Oct 3, 2019

PMC bank created more than 21,000 fraudulent account to conceal loans

The complaint has accused the bank's Chairman, Waryam Singh, and its Managing Director Joy Thomas, along with other bank officials of criminal breach of trust, forgery and falsification of records.

Oct 2, 2019

Should RBI's regulatory action on Lakshmi Vilas Bank worry erring lenders?

Lakshmi Vilas Bank became second major private lender to get the rap under 'prompt corrective action' framework of the RBI, after the action against PMC Bank.

Sep 29, 2019

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