Money & Banking

While the number of fraudulent withdrawals from banks have declined, in value terms, it has more than doubled to Rs109.56 core in FY17-18, the Rajya Sabha was informed.   Last month, replying to a question asked by Sukhram Singh Yadav, the then finance minister Piyush Goyal, said, "As...
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Fugitive Indian diamantaire Nirav Modi, wanted in the Rs13,500 crore Punjab National Bank (PNB) fraud case, is arrested in the UK. His bail plea was rejected when he was produced in the local court at London. The next hearing in this matter would take place on 29 March 2019 before the chief...
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The All India Bank Employees' Association (AIBEA) has demanded the Reserve Bank of India (RBI) to reconsider its decision to categorise IDBI Bank as a private entity.   In a letter to the RBI on Wednesday, AIBEA's General Secretary C.H. Venkatachalam conveyed the union's opposition to...
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Indian National Bank Employees' Federation (INBEF), the banking wing of Indian National Trade Union Congress (INTUC) has asked the government to remove disparity in pay scales, pension or other terminal benefits amongst employees of public sector banks (PSBs) and those of the union...
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First the good news. One must congratulate the Mumbai bench of the National Company Law Tribunal’s (NCLT) for restoring our faith in the system. NCLT refused to accept at face value the outrageous proposal by 90% of the committee of creditors (CoC) to accept a one-time settlement (OTS) offer...
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