Mumbai, Feb 15 (IANS) The market valuation of Tata Consultancy Services (TCS) tumbled by Rs 90,198.92 crore to Rs 9,74,043.43 crore this week, emerging as the biggest laggard among India’s top companies amid a broader bearish trend in equities.The combined market capitalisation of six of the top 10 most valued firms declined by more than Rs 3 trillion during the week, as stock markets remained under pressure.The BSE benchmark index fell by 953.64 points, or 1.14 per cent — reflecting weak inv…
Latest State Bank of India News & Updates
Jaipur, Feb 13 (IANS) Rajasthan Agriculture Minister Kirodi Lal Meena, on Friday, exposed a major scam involving crores of rupees under the Pradhan Mantri Fasal Bima Yojana at the State Bank of India (SBI)’s Salasar branch, government officials said. Acting on complaints of irregularities, the Minister visited the bank branch early in the morning along with departmental and insurance officials and ordered the registration of an FIR against those involved in the fraud. Investigations revealed tha…
Mumbai, Feb 13 (IANS) The Enforcement Directorate (ED) has provisionally attached immovable plots of land and office units worth Rs 132.85 crore in Mumbai and Raigad districts of Maharashtra as part of action in a Rs 1,438 crore bank fraud case, an official said on Friday. The ED’s Mumbai Zonal Office attached the land and office units under the provisions of the Prevention of Money Laundering Act (PMLA), 2002, in the case of Ushdev International Limited (UIL), an official statement said.The ED …
Lucknow, Feb 12 (IANS) The Enforcement Directorate (ED) searched two premises in Uttar Pradesh and seized records of 17 immovable properties valued Rs 20 crore and linked to a former primary teacher in a Madrasa, who acquired UK citizenship in 2013, an official said on Thursday. The ED’s Lucknow Zonal Office, conducted search operations on Wednesday under the provisions of the Prevention of Money Laundering Act (PMLA), 2002, in connection with a fraud case against Maulana Shamsul Huda Khan and o…
Mumbai, Feb 12 (IANS) UK-based businessman and alleged financial defaulter Vijay Mallya, on Thursday, got one last chance from the Bombay High Court to return to the country and submit to its jurisdiction if he wants Indian authorities to drop his “fugitive economic offender” tag. A bench led by Chief Justice Shree Chandrashekhar pulled up the fugitive businessman for seeking relief from an Indian court while remaining abroad.”If you do not return, we cannot hear your petition. You are evading t…
New Delhi, Feb 12 (IANS) India’s trade surplus with the US may cross $90 billion annually after the trade deal, with at least a $45 billion annual additional trade surplus with the US, which is 1.1 per cent of the GDP, and savings of $3 billion in forex reserve, an SBI Research report said on Thursday.The trade deal with the US, back on the heels of wide arc of trade deals with the EU and the UK, catapults India to a unique strategic position wherein the country, as also its exporters, are poi…
Mumbai, Feb 11 (IANS) The Directorate of Enforcement (ED), Mumbai, has provisionally attached assets worth approximately Rs 1.03 crore belonging to Hitesh Kumar Singla, a suspended officer of Bank of India, under the provisions of the Prevention of Money Laundering Act (PMLA), an agency statement said on Wednesday.The attachment also includes bank balances held in mule accounts allegedly used to siphon off proceeds of crime. The Provisional Attachment Order (PAO) was issued on February 9.The ED …
Ahmedabad, Feb 5 (IANS) The Adani Mangal Seva on Thursday completed the first year of dignity and opportunity for 500 ‘divyang’ (persons with disabilities) women.Announced on February 5 last year, Adani Mangal Seva marks Diva and Jeet Adani’s decision to turn their wedding celebrations into a pledge of social security for divyang women.Anchored by the Adani Foundation, the social welfare and development arm of the Adani Group, Adani Mangal Seva supports divyang women aged 25 to 40, identified by…
New Delhi, Feb 5 (IANS) Prime Minister Narendra Modi, replying to the Motion of Thanks to President’s rule in Rajya Sabha on Thursday, contrasted the drastic change brought in key sectors, including banking, NPAs, Public Sector Enterprises (PSUs), driven by the reforms undertaken by his government. Reiterating the NDA government’s resolve to “reform, perform and transform”, PM Modi said that a slew of reforms were initiated after 2014, and this resulted in flourishing growth in various secto…
Kolkata, Feb 3 (IANS) The Enforcement Directorate (ED) continued its raids across West Bengal’s West Burdwan district on Tuesday in connection with a coal and sand smuggling case, with dramatic scenes unfolding at the residence of businessman Rajesh Bansal in Jamuria. According to ED sources, officials of the State Bank of India (SBI) arrived at Bansal’s house carrying sacks and were later seen exiting with three of them.Sources said that so far Rs 65 lakh has been recovered from the premise…