Jaipur, July 21 (IANS) In a major initiative to strengthen Rajasthan’s cybersecurity framework and safeguard public funds, a special cyber coordination meeting of the State Level Bankers’ Committee (SLBC) was held at the Government Secretariat on Tuesday. Chief Secretary V. Srinivas, Director General of Police (DGP) Rajiv Kumar Sharma, senior officials of the Rajasthan Police, and representatives of major banks participated in the meeting to formulate a concrete and result-oriented strategy …
Latest Indian Overseas Bank News & Updates
Ahmedabad, July 18 (IANS) A special CBI court in Ahmedabad has sentenced a former Indian Overseas Bank (IOB) branch manager and a private individual to three years’ rigorous imprisonment after finding them guilty in a bank fraud case involving fraudulent greenhouse project loans that caused a loss of Rs 2.60 crore to the bank, an official statement said on Saturday.The CBI said: “The court on Friday convicted Neeraj Kumar Jain, the then branch manager of Indian Overseas Bank, Himmatnagar, Gujara…
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…
Hyderabad, June 26 (IANS) The Cyber Crime Unit of Hyderabad City Police have busted Rs 1.46 crore matrimony-cum-investment fraud with the arrest of four persons. Police said on Friday that these individuals orchestrated the fraud by utilising multiple mule bank accounts to withdraw fraudulent amounts and transferred the funds to Singapore-based cyber fraudsters through Hawala networks.The arrested men are Chokkala Sampath, resident of Siddipet, Hechu Naresh, Endla Suresh and Vadkala Mahesh, all …
New Delhi, June 5 (IANS) The RBI’s repo rate decision reflects the wait-and-watch approach to assess the evolving impact of external developments and their implications for domestic growth and inflation before going for interest rate adjustments, industry leaders and economists said on Friday.Amid elevated energy prices, risk of below-normal monsoon and persistent supply-side bottlenecks, the RBI also revised its FY27 GDP growth forecast downward to 6.6 per cent, from 6.9 per cent earlier, wit…
Chandigarh, June 5 (IANS) A Special CBI Court in Mohali, Punjab, has convicted and sentenced Samir Dua, a partner of M/s G.D. Ispat Udyog, Mandi Gobindgarh, to three years of rigorous imprisonment (RI) along with a fine of Rs 15,000 in connection with a multi-crore bank fraud case, an official statement said on Friday.The sentence was pronounced on June 4, following the conclusion of trial proceedings in the case investigated by the Central Bureau of Investigation (CBI).According to the CBI, the…
Bengaluru, June 2 (IANS) The Central Bureau of Investigation (CBI) on Tuesday filed three charge sheets in connection with the alleged misappropriation of funds from the Karnataka Maharishi Valmiki Scheduled Tribes Development Corporation Limited (KMVSTDCL) and two other state government entities, naming former Karnataka Scheduled Tribes Welfare Minister B. Nagendra among the accused. According to the CBI, former Minister and Congress MLA B. Nagendra, his close associate Nekkanti Nagaraj, and Pa…
New Delhi, May 25 (IANS) The government has shortlisted Coal India Ltd (CIL), Life Insurance Corporation (LIC), the Indian Overseas Bank (IOB), and the Indian Railway Finance Corporation (IRFC) among the public sector enterprises for the sale of shares in the stock market through a phased offer in the first two quarters of FY27, according to a report.The offers for sale will be calibrated with stable market conditions as the government wants to avoid any volatility before it proceeds to offload …
New Delhi, April 17 (IANS) The Union Government on Friday allowed 15 major banks, including State Bank of India, HDFC Bank, and ICICI Bank, to import gold and silver from April 1, 2026, to March 31, 2029. The Union Bank of India and Sberbank have been authorised to import only gold during this period.The notification has been issued by the Directorate General of Foreign Trade (DGFT).The move is part of the government’s ongoing effort to streamline bullion imports and ensure they are routed thr…
New Delhi, April 8 (IANS) The Reserve Bank of India’s decision to keep the repo rate unchanged at 5.25 per cent will ensure sustainability of the ongoing recovery, ensure credit growth and keep borrowing costs stable, economists and bankers said on Wednesday.The central bank’s decision reflects a balanced and ‘safety-first’ approach, prioritising macroeconomic stability, said Ajay Kumar Srivastava, Managing Director & CEO, Indian Overseas Bank, also lauding RBI’s continued focus on i…