Bhubaneswar, July 19 (IANS) In a crackdown against economic offenders, the CBI conducted searches at six locations across four States – West Bengal, Odisha, Tamil Nadu, and Uttarakhand – in connection with a Rs 1,100 bank fraud by an infrastructure company in Odisha, an official said on Sunday. The Central Bureau of Investigation (CBI) conducted the searches on Saturday in the case registered against Gupta Power Infrastructure Ltd, Bhubaneswar, Odisha.The raids were carried out based on search w…
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New Delhi, July 8 (IANS): The Enforcement Directorate (ED) conducted search operations on Tuesday at the premises of M/s E-Complex Private Limited and the residential premises of one of its directors, which resulted in the detection and seizure of evidence pertaining to suspicious transactions and assets beneficially owned or controlled by Reliance Anil Ambani Group, according to an official statement issued on Wednesday. During the search operations, several incriminating documents, records rel…
New Delhi, July 8 (IANS) Shares of private lender South Indian Bank tumbled nearly 10 per cent on Wednesday after the lender announced that it had received the Reserve Bank of India’s (RBI) approval for the appointment of Mahesh Muralidhar Pai as its Managing Director and Chief Executive Officer (MD & CEO).The private banking stock declined as much as 9.86 per cent to Rs 43.02 on the BSE. At around 12:05 pm, it was trading at Rs 44.23, down more than 7 per cent.In a regulatory filing, the pr…
New Delhi, July 7 (IANS) The Supreme Court on Tuesday ruled that banks and the Indian Banks’ Association (IBA) cannot include advocates in the banking sector’s “Caution List” merely on allegations of professional negligence, holding that such action amounts to an impermissible assessment of a lawyer’s professional competence, which falls exclusively within the disciplinary jurisdiction of the Bar Councils under the Advocates Act, 1961. A bench of Justices PS Narasimha and Alok Aradhe, allowing a…
New Delhi, July 4 (IANS) The Central Bureau of Investigation (CBI) on Saturday conducted coordinated searches in connection with two bank fraud cases involving an alleged fraud of over Rs 231 crore, registered by its Bank Securities and Fraud Branch (BSFB) in Bengaluru, officials said.The first case was registered against M/s R L Jewels Ltd, its directors and unknown public servants on the basis of a complaint filed by the State Bank of India (SBI), Mumbai. The FIR alleges criminal conspiracy, c…
New Delhi, June 30 (IANS) Former Uttar Pradesh Chief Minister and Bahujan Samaj Party (BSP) chief, Mayawati, on Tuesday reacted to reports of alleged irregularities involving offerings at the Shri Ram Temple in Ayodhya, calling the matter “extremely serious and concerning” while urging a transparent and accountable system for managing temple donations.In a post on X, Mayawati said, “The theft of offerings from the Shri Ram Temple in Ayodhya, along with embezzlement and tampering, and the var…
New Delhi, June 30 (IANS) The investigation into the embezzlement of Ram Temple donations has entered a critical financial audit phase, with Ayodhya Police seeking five years of banking records from the seven banks where the eight arrested accused and the Shri Ram Janmbhoomi Teerth Kshetra Trust maintain accounts.Police sources said investigators have sought detailed account statements, transaction histories, KYC documents, deposit records and other banking details to reconstruct the financial t…
New Delhi, June 29 (IANS) Public sector banks on Monday presented dividend cheques worth more than Rs 9,400 crore to Union Finance Minister Nirmala Sitharaman for the financial year 2025-26.Among the lenders, Bank of Baroda handed over a dividend cheque of Rs 2,811 crore to the Finance Minister for the financial year ended March 31, 2026. The cheque was presented by the bank’s Managing Director and Chief Executive Officer, Dr. Debadatta Chand, in the presence of Department of Financial Service…
Ayodhya, June 29 (IANS) The eight accused arrested in connection with the Ram Temple donation embezzlement probe will be produced before an Ayodhya court via video conferencing on Monday, while police said that it will not seek their custody for now, but in the coming days, after investigators prepare a detailed list of questions for interrogation. Police have also issued notices to around six banks, including State Bank of India (SBI), Bank of Baroda, and Canara Bank, seeking details of the ban…
Mumbai, June 23 (IANS) The Reserve Bank of India (RBI) on Tuesday issued clarifications on the operational aspects of Foreign Currency Non-Resident Bank (FCNR-B) deposits, addressing queries raised by banks regarding the mobilisation of such deposits and related lending activities. The clarification is expected to encourage greater inflows through the FCNR-B route, which could provide support to the rupee in the near term.According to a document released by the central bank, all Indian banks, in…