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…
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Hyderabad, June 24 (IANS) The Cyber Crime Police of Hyderabad arrested six individuals in connection with a Rs 1.22 crore investment trading fraud. Investigations revealed the operation of a network of mule bank accounts used to route cybercrime proceeds. The accounts were allegedly utilised for online trading and money laundering activities.The arrests mark a significant step in disrupting financial networks supporting cyber fraud, the police said on Wednesday.Three of the accused are residents…
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…
New Delhi, Jun 18 (IANS) The Enforcement Directorate (ED) has intensified its crackdown on financial irregularities by conducting search operations at 17 locations in Mumbai and Delhi under the Prevention of Money Laundering Act (PMLA), 2002, ED officials said on Thursday. The raids targeted entities linked to a major loan diversion case involving Housing Development and Infrastructure Limited (HDIL) and associated companies.The premises searched included the offices of Suraksha Asset Reconstruc…
Mumbai, June 11 (IANS) India’s top financial banking services providers — State Bank of India (SBI), Bank of India (BoI), and Yes Bank — have sharply raised interest rates on Foreign Currency Non-Resident (Bank) or FCNR(B) deposits following the Reserve Bank of India’s recent measures to attract foreign currency inflows, with lenders now offering Non-Resident Indians (NRIs) returns of up to 6.6 per cent on US dollar deposits.The banks have revised their FCNR(B) deposit rates, a significant inc…
Bhubaneswar, June 9 (IANS) The Crime Branch of Odisha Police has apprehended two accused from Delhi and Uttarakhand for their alleged involvement in a Rs 1.38-crore “digital arrest” cyber fraud case targeting a Bhubaneswar-based victim, said a senior Crime Branch official on Tuesday. The case was registered following a complaint filed by a Bhubaneswar resident who was duped by fraudsters posing as Mumbai Cyber Crime officials. The accused allegedly informed the victim that his Aadhaar number…
New Delhi, June 6 (IANS) Amid the global headwinds, the government has made efforts to ringfence the MSME sector with various EPCLGS schemes, and would slash non-essential expenditures on the revenue side to make fiscal ends meet, rather than reducing capital expenditures, according to economists.On the external front, exports are likely to slow down as global growth takes a hit, says YES BANK ‘Ecologue’.The manufacturing sector, particularly MSMEs, could face a slowdown due to supply-chain …
Ahmedabad/New Delhi, April 20 (IANS) A man accused of orchestrating a GST refund fraud worth around Rs 1,825 crore has been arrested at Indira Gandhi International Airport in New Delhi after returning from Dubai, officials said on Monday. Kapil Chugh was apprehended on Sunday by officials of the Directorate General of GST Intelligence (DGGI), Ahmedabad Zonal Unit.According to officials, he had evaded the investigation, failed to respond to 22 summonses issued by the agency, and fled to Dub…
Jammu, April 12 (IANS) The annual Amarnath Yatra will start this year on July 3 and will conclude after 57 days on August 28, coinciding with the Raksha Bandhan festival, Jammu and Kashmir Lt. Governor Manoj Sinha said on Sunday.Jammu, April 12 (IANS) The annual Amarnath Yatra will start this year on July 3 and will conclude after 57 days on August 28, coinciding with the Raksha Bandhan festival, Jammu and Kashmir Lt. Governor Manoj Sinha said on Sunday.The office of the Lt. Governor posted on X…
New Delhi, April 7 (IANS) India’s headline CPI could rise to between 4.5 and 4.8 per cent from a base case of about 4 per cent, and RBI’s April policy is likely to keep rate changes on hold in a cautious tone, a report said on Tuesday.The report from Yes Bank said GDP growth is expected to moderate to about 7 per cent with downside risks if the US-Iran war persists.”Growth has remained resilient so far, supported by domestic demand – both private consumption demand and government’s capital e…