Washington, July 16 (IANS) The Trump administration on Wednesday announced an expanded effort to disrupt the financing of organisations it accuses of supporting political terrorism, with Treasury Secretary Scott Bessent saying the United States would intensify scrutiny of charities, non-profit organisations and international financial networks used to channel illicit funds.Bessent, addressing the State Department’s Ministerial on the Resurgence of Political Terrorism, said terrorist organisation…
Latest Financial Institutions News & Updates
New Delhi, July 14 (IANS) In a major development in its ongoing probe into large-scale homebuyer fraud, the Central Bureau of Investigation (CBI) has filed its 16th chargesheet against M/s Saha Infratech Pvt Ltd, its director, and officials of HDFC Bank Ltd and ICICI Bank Ltd for their alleged involvement in fraudulent activities linked to a housing project in Noida, according to an official statement issued on Tuesday.The chargesheet has been filed before the Special Judge for CBI Cases at the …
New Delhi, July 13 (IANS) The chiefs of public sector banks (PSBs) and financial institutions informed Finance Minister Nirmala Sitharaman on Monday that there was a strong response from NRIs to the higher interests rates and incentives that have been announced across foreign currency non-resident bank deposits FCNR (B) deposits, External Commercial Borrowings (ECBs) and Overseas Foreign Currency Borrowings (OFCBs) swap initiatives.The banks expect funds flowing in from NRIs to pick up further m…
New Delhi, July 13 (IANS) Experts on Monday highlighted AI asymmetry as one of the defining risks facing financial institutions, saying that activities that once required specialist teams, significant resources and weeks of effort can increasingly be performed at machine speed by comparatively low-resource threat actors.This is placing offensive capabilities on a faster development curve than many of the defensive and regulatory mechanisms designed to contain them, they said.IT Ministry, along w…
Bengaluru, July 7 (IANS) The Central Bureau of Investigation (CBI) has filed its 14th and 15th charge sheets in the ongoing investigation into large-scale homebuyers’ fraud, naming two Bengaluru-linked builder companies, their directors, and officials of leading financial institutions for their alleged role in cheating homebuyers, the official statement by the CBI said on Tuesday. The chargesheets have been filed before the respective CBI courts in Bengaluru against Ithaca Estate Pvt Ltd and its…
Washington, July 4 (IANS) The US Department of Justice on Saturday told a federal court that investors suffered no financial losses in the securities at the centre of the criminal case against billionaire industrialist Gautam Adani, arguing that the absence of investor losses further undermined the government’s own prosecution and reinforced its decision to seek dismissal of all criminal charges.In a detailed filing before the U.S. District Court for the Eastern District of New York, the Departm…
New Delhi, July 3 (IANS) In a significant development in its ongoing investigation into large-scale fraud involving homebuyers, the Central Bureau of Investigation (CBI) on Friday filed its 13th chargesheet against Rudra Buildwell Projects Pvt. Ltd. and its director in connection with alleged fraudulent activities related to a housing project in Greater Noida. According to the CBI, the investigation revealed that the accused builder company and its director, as part of a criminal conspiracy, all…
New Delhi, June 29 (IANS) In a major push to infrastructure financing and long-term economic development, the Union Cabinet chaired by Prime Minister Narendra Modi on Monday approved an additional government investment commitment of Rs 30,000 crore to the National Investment and Infrastructure Fund (NIIF). The fresh allocation doubles the Government of India’s total commitment to the sovereign-backed investment platform to Rs 60,000 crore.The decision is aimed at accelerating investments in cr…
New Delhi, June 25 (IANS) The Central Bureau of Investigation (CBI) has filed its 12th charge sheet in a series of cases related to alleged large-scale cheating of homebuyers, naming M/s Decent Buildwell Pvt. Ltd. and its director in connection with a housing project in Greater Noida, an official statement said on Thursday.According to the CBI, the investigation has revealed that the accused company and its director, acting in furtherance of a criminal conspiracy, allegedly lured unsuspecting ho…
Guwahati, June 24 (IANS) Assam has emerged as one of the country’s fastest-transforming economies, attracting investment proposals worth over Rs 5 lakh crore and positioning itself as a major destination for industry and innovation, state BJP chief and Lok Sabha MP Dilip Saikia said on Wednesday during a pre-Budget consultation organised by the party.Addressing the consultation attended by economists, academicians, entrepreneurs and industry representatives, Saikia said the state’s economy has w…