CBI summons BCCI chief N Srinivasan in Jagan case


CBI is probing the alleged investments made by Srinivasan's company India Cements in the companies promoted by YSR Congress chief Jaganmohan Reddy

Hyderabad: The Central Bureau of Investigation (CBI) has called Board of Control for Cricket in India (BCCI) Chief and India Cements Managing Director N Srinivasan for questioning in connection with disproportionate assets cases against YSR Congress chief Jaganmohan Reddy, agency sources told PTI.
They said Srinivasan has been asked to appear next week at the CBI office in Hyderabad.
CBI is probing the alleged investments made by Srinivasan's company India Cements in the companies promoted by the Kadapa MP during the tenure of his father YS Rajshekhara Reddy as chief minister, the sources said.
The agency has also asked officials of some other cement companies to appear for questioning, they said.
CBI sources said the cement companies could be asked about water and limestone allocations made during the tenure of Rajashekhara Reddy as chief minister of Andhra Pradesh.
Efforts to contact Srinivasan did not materialise.
The CBI, in its three charge sheets filed against Jagan and others, has alleged that he and his father had hatched a conspiracy to defraud the government with Jagan influencing Rajasekhara Reddy in doling out certain favours to various investors, who made investments in Jagan's businesses.
Jagan is currently in judicial custody till 11th June and has been questioned by the CBI.


US media companies make yet another push to defang transparency rule

Broadcasters file a petition with the FCC to water down a new political ad disclosure rule

A group of broadcasters are formally asking the Federal Communications Commission to soften a new rule requiring TV stations to put political ad data on the Internet.

Washington attorneys for a group of twelve companies filed a petition for reconsideration of the rule, which was approved by the FCC in April and requires online disclosure about political ad purchases by campaigns and outside groups like super PACs. The information, which includes who buys ads, for how much, and when they run, is currently open to the public but is available only on paper at individual stations.

With the broadcasters' petition yesterday, the FCC will now have to consider whether to modify the transparency measure. The rule isn't expected to go into effect until this summer at the earliest and the petition shouldn't change that timeframe.

The disclosure rule is also the subject of a lawsuit by the National Association of Broadcasters and a defunding effort by Republicans in Congress.

The companies making yesterday's request to water down the rule own TV stations and newspapers around the country. They are: Barrington Broadcasting Co., Belo Corp., Cox Media Group, Dispatch Broadcast Group, the E.W. Scripps Company, Gannett Broadcasting, Hearst Television, LIN Television Corporation, Meredith Broadcasting Group, Post-Newsweek Stations, Raycom Media, and Schurz Communications.

The argument advanced in the petition is one we heard earlier this year from broadcasters lobbying against the FCC disclosure rule: that making ad price information available online - even though it is already public on paper at stations - would hurt their business. The petition argues:

It is axiomatic that disclosure of price information is anti-competitive and disrupts markets - in this case, not only the local political advertising marketplace but also the local commercial advertising marketplace more generally, because stations' political ad rates, by law, must be based on commercial advertising rates (and based on their most favourable rates during the political "windows").

The FCC rejected this argument in its published April decision to put the political ad data online. The commission found that since the ad rate information has been available on paper for years, advertisers and station competitors already have access to it. The commission also concluded that the publication of rates on political ads would "not necessarily lead to marketplace distortions."

The group of stations petitioning the FCC Monday also proposed an alternative to the new rule, one that is similar to a broadcaster proposal earlier this year. Under this scheme, stations would post online only aggregate information about money spent on ads, rather than the granular ad-by-ad information that the stations must maintain by law. The filing claims: "Our discussions with journalists confirm" that "journalists and scholars do not generally need or want spot-by-spot rate information."

No such journalists or scholars are named.





4 years ago

I am happy to write that CANARA BANK' s Goa Circle office has rectified by placing FRESH NOTES of both Rs100/ & Rs500/ notes. I have visited Panaji, Candolium, Mapusa & Madgaon ATMs. SBI ATMs are rare & few.

arun adalja

4 years ago

sbi is offering new things you can withdraw rs 40000 from the branch using atm cards with your choice of denomination.

DrSharmila Rao PN

4 years ago

This happened to me during the early days of ATM, I was stranded at Tirupati, the ATM was not functional due to power issues, banks were on strike and I was stranded in Tirupati with Rs.200/- at hand.
I had to borrow money from a friend and it was so bloody embarrassing.


4 years ago

An eye opener to all ATM users. Re Canara Bank's GOA ATMs I tried to bring to the notice of the GOA Circle DGM and am disappointed. I have taken up the matter with the CMDs, EDs & P&D GMs Sect. I will share response when recd.

arun adalja

4 years ago

atm fill up can be done by their staff as 50% workload is reduced due to atm and internet transfers.why do they out source?rbi must panalised the banks due to their faulty systems.

Vikas Gupta

4 years ago

Banks are not working as per the Operation manuals at all. If u complain about them, it hardly matters to the concerned branch. but if u complain at higher levels, then the Local staff of the branch forces u to take back the complaint without any actions. About Timings of Banks, I can tell about my District that Official Lunch Hours for PSU Banks are from 2.15 to 2.45 hours but Bank Staff tell every Customer from 2 to 3.
Can Moneylife Team suggest that to whom contact in the District for these type of Complaints?
About Axis Bank, I have my Priority Account in Rohtak Branch. I have also availed Locker Facility in the last F.Y. & my priority account was debited accordingly but I was shocked to get an email from Axis Bank accidently about the benefits of Priority Account, in which they had mentioned about waiver of Ist year locker rent while my account had been debited the full rent. When I contacted My branch officials, they were reluctant on the issue. I had to write to the HO & now the Branch Executives are making an excuse that they had debited my account by mistake but that was in last F.Y. so they are unable to do anything.

R Nandy

4 years ago

ATMs of any bank can be utilised to withdraw cash.So,there is no compulsion to use a particular bank's ATM if it is not serviced properly.


4 years ago

This is very common, even with the SBI who in any case couldn't care less. But the worst sufferers are the customers of the Central Bank of India, having the least exposure in the ountry in terms of the no. of branches and even negligible no. of ATMs most of which (like the GK-II, New Delhi) remain out of order while the branch manager sitting in the a/c chamber of the contiguous branch office remains unmoved!


4 years ago

There's a State Bank of Hyderabad Bank and ATM opposite to my place. Here the bank officials promptly lock the ATM after 6pm and open the next day after 10AM. Cash is never found even if its unlocked, I see many senior citizens/pensioners coming to the bank in Autos waiting to withdraw their money from the bank directly.


4 years ago

Recently I went to withdraw cash from Kotak Bank ATM (with Kotak Bank Debit card) near Kemps Corner at around 7:15 pm as I needed cash immediately. With one card I tried to withdraw Rs 15,000/-. It gave a message that 'Transaction Declined. Unable to Dispense. I tried second card for just Rs. 2,000 and it still gave the same message. I had to come back without any cash which was needed by me. The worst part was that there was no Guard on duty. Does this not amount to violating my right to withdraw cash any time I want ? and that too from the same bank's ATM. Does it amount to 'deficiency in service' ? Can ML guide me on this ?

a v moorthi besides TIHAR

4 years ago

the incidence quoted may not be true in all instances. Rather from the ATM switch it can be easily monitored by Bank the exact status of cash available in any given ATM. It is expected that the message is flashed to the branch or agency who is entrusted with replenishing cash. normally on the after noon of the day preceding a holiday it is expected the Bank ensures that adequate cash is loaded in ATM ( usually in the range of Rs 14 lakhs or 28 lakhs on an average and this is found to cater 250 to 500 cash withdrawls and Banks are known to organise another ATM in locations where the withdrawl exceeds at leaset by over 100 the usual level of 250 transactions. Nowdays there is no concept of ATM cards rather they are Debit/Credit cards which can be used at POS and a large number of shops in middle class residential areas offer POS terminal facility so in way average cash withdrawl of Rs 5,000/- is more than sufficient so ATMs do take care of this requirement. what is need of the hour is that Bank should ensure ATM cabins have notices displaying the contact numbers of Banks ATM Cell which should offer skeleton service on 24x7 basis preferably toll free number and also ATM identity number is displayed and standard complaint proforma is made available in ATM cabin itself so that any short/non delivery of cash can be reported without much difficulty. rather nowadays banks are promptly redressing grievences for non/short dispensing of cash by ATMs as the Banks are forced to shell out Rs 1000/- penalty if issues are not settled in 7 days from date of lodgement of complaint. if anybody is having such issues moneylife has time and again sought details

mot many know it takes at least 2 bank staff are needed for 30 minutes for refilling cash if the ATM is say 1 KM away from the branch provided branch is having Rs 10-12 lakhs cash to refill. this is one of the reason Banks had to out source refilling of cash in ATMs

regarding non provision of guards Banks need not be blamed after all maintenance of law and order is a state subject. are neighborhood shops bereft of night guards vandalised?


4 years ago

Let me share my experiences with ATMs.... I had account in both SBI and Axis Bank. While on tour in interior Maharashtra (at a distict place), I couldnot locate the ATMs of these two banks. So I decided to use the HDFC Bank ATM. While it denied any transactions on my Axis Bank (MasterCard) card, the use of SBI card gave me a locked card. Yes, the ATM shown that my code doesnot match and when I tried to put the code again, it got locked. To unlock it, I had to take leave from my office and then go to SBI branch, make an application and then after deducting Rs50, they gave me another code. But I am afraid to use the SBI card now.
Now about Axis Bank....there is a branch and ATM centre near my office. On Saturday afternoon, when I went to withdraw some cash, the ATM was closed. The guard told me that there is no cash in the ATM and it will be filled only on Monday. This show the lack of committment from all banks, and nothing else.


4 years ago

what are you implying? that some banks provide shoddy service?
great insight.NOT.

Account opening in bank

I have a savings bank account at HDFC Bank, Powai branch, Mumbai. I am also a ‘Preferred...

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