New Delhi, March 25 (IANS) A major financial irregularity has come to light in Haryana, where the Panchkula Municipal Corporation has found discrepancies of over Rs 150 crore in its fixed deposits with Kotak Mahindra Bank. The development comes just a month after a Rs 590-crore fraud was reported at the Chandigarh branch of IDFC First Bank.According to NDTV Profit report, the civic body had invested funds in fixed deposit receipts (FDRs) at the bank’s Sector 11 branch.However, the issue surfac…
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Jaipur, March 10 (IANS) Rajasthan Police on Tuesday achieved a breakthrough by arresting an interstate fraudster accused of cheating thousands of people under the pretext of providing work-from-home jobs. The accused, Kumar Sanu alias Deepak Singh (25), son of Vijay Kumar and a resident of Baurna village under Gogri Police Station in Khagaria district of Bihar, was arrested in Bihar.The Inspector General of Police, Kota Range, had earlier announced a reward of Rs 50,000 for his arrest. Kot…
Washington, Feb 25 (IANS) US President Donald Trump declared that America was “winning again,” touting sweeping tax cuts, what he called the “strongest and most secure border in American history,” and a new policy to shield consumers from rising electricity costs linked to artificial intelligence.“For all these reasons, I say tonight—Members of Congress, the state of our union is strong,” Trump said in his State of the Union address.On the economy, Trump said his administration had del…
New Delhi, Feb 23 (IANS) The Reserve Bank of India (RBI) on Monday said there is no systemic risk to the banking system and stressed that the Central Bank does not comment on individual banks or regulated entities, as IDFC First Bank revealed the Rs 590-crore fraud at its Chandigarh branch.Addressing a joint press conference after a meeting of the RBI’s central board of directors in the national capital, RBI Governor Sanjay Malhotra said the regulator is closely monitoring the situation but th…
Mumbai, Feb 23 (IANS) Shares of IDFC First Bank hit the 20 per cent lower circuit on Monday after the lender reported fraudulent transactions worth about Rs 590 crore, allegedly committed by its employees at its Chandigarh branch.The stock fell to Rs 66.85, its intra-day low, down 20 per cent. The shares opened 10 per cent lower and later extended their losses. At 10:33 am, shares were trading at Rs 70.10, down 16.06 per cent on the day.The bank said the matter is confined to a set of Haryana go…
New Delhi, Feb 22 (IANS) The Haryana Government on Sunday de-empanelled IDFC First Bank and AU Small Finance Bank from handling government business with immediate effect after an alleged fraud of around Rs 590 crore came to light.In an official circular, the state government said both banks have been barred from carrying out any government-related transactions in Haryana until further orders.It directed all departments, boards, corporations and public sector undertakings to stop using these bank…
New Delhi, Feb 22 (IANS) IDFC First Bank on Sunday disclosed a Rs 590 crore fraud at its Chandigarh branch involving Haryana government accounts, saying four suspected officials have been placed under suspension pending investigation.The Bank said in an exchange filing that it will pursue strict disciplinary, civil and criminal action against the employees and other external individuals responsible, in accordance with applicable law.The filing said that some employees at IDFC First Bank’s Chan…
Ranchi, Feb 20 (IANS) In a major drive against cybercrime, Jharkhand Police arrested 57 accused during a special operation across the North Chotanagpur region, officials said on Friday.The action was carried out on the instructions of Inspector General Sunil Bhaskar, with coordinated raids conducted in multiple districts.The operation focused on suspicious mobile numbers identified through the police’s “Pratibimba” app, which provides technical assistance in tracking and verifying numbers link…
Lucknow, Feb 19 (IANS) The ED attached a movable and three immovable properties, valued at Rs 7.30 crore, in Delhi and Lucknow belonging to Anee Group of Companies in connection with Rs 110 crore fraudulent investment schemes, an official said on Thursday. The Directorate of Enforcement (ED), Lucknow Zonal Office, provisionally attached the properties under the Prevention of Money Laundering Act (PMLA), 2002, in connection with a money laundering case related to Anee Bullion Traders and other…
Ranchi, Feb 16 (IANS) The Enforcement Directorate’s Ranchi Zonal Office filed a chargesheet on Monday before the special court in Ranchi under the Prevention of Money Laundering Act (PMLA), against Maxizone Touch Private Limited and its directors, Chander Bhushan Singh and Priyanka. The case involves a large-scale multi-level marketing fraud that duped 16,927 investors across the country through a classic Ponzi scheme promising unrealistic lifelong monthly returns of 15 per cent, the ED said in …