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The unprecedented second interim order of the market regulator against  the Brightcom Group Ltd (Brightcom) on 22nd August had no surprises for discerning investors, analysts or commentators. It is a bit like Byju’s—everybody had seen it coming for over a year. And yet, the sheer audacity of...

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Moneylife Digital Team 23 December 2022
During the past five financial years, scheduled commercial banks (SCBs) wrote off bad debts worth Rs10.09 lakh crore. As per data provided by the Reserve Bank of India (RBI), public sector banks (PSBs) have recovered Rs4.80 lakh crore, including recovery of Rs1.03 lakh crore from written-off...

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The audited annual report of ‘The Complete Man’, for the year ended 31 March 2022, is a treat to read and relish… if one is not a shareholder of the wool-spinner—Raymond Ltd.   The stand-alone accounts have been debited an exceptional loss of Rs907 crore pertaining to different...

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While public sector banks (PSBs) continue to refuse to share names of big defaulters citing 'confidentiality of customer data', information shared by the Reserve Bank of India (RBI), reveals that just 312 big defaulters owe more than 76% or Rs1,41,583.50 crore of the total bad...

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Maya M 30 July 2022
For the past four weeks, fin-techs, broker, distributors and thousands of investors using the BSE StAR mutual fund (MF) platform are a harried lot since they have been facing agonising delays in their MF transaction processing, redemptions and refunds. Some have pending refunds of extremely...

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Moneylife Digital Team 11 August 2022
Employees’ Provident Fund (EPF), also referred to as PF (provident fund), is a mandatory savings-cum-retirement scheme for employees of an eligible organisation. Employees can fall back on the corpus of this fund post-retirement.   As per the EPF rules, the employees must contribute...

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Moneylife Digital Team 27 August 2022
After eight long months, the Reserve Bank of India (RBI) has finally shared its inspection report of City Union Bank Ltd under the Right to Information (RTI) Act with activist Subhash Chandra Agrawal. The report reveals poor management control and sanctioning of high-risk loans from senior...

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Moneylife Digital Team 10 April 2023
Holding Kolkata-based Woodlands Medical Centre Ltd and two doctors responsible for deficiency in service, unfair trade practice and medical negligence, the national consumer disputes redressal commission (NCDRC) asked them to pay Rs60 lakh within six weeks to the family of the deceased...

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Remote Mouse helps you turn your mobile phone or tablet into a set of wireless mouse, keyboard and track-pad. Connection is achieved in three simple steps. Download the Remote Mouse app for your iPhone, iPad or Android phone. Then install Remote Mouse for your desktop on your Mac, Windows or...

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A person eats a meal at a hotel in Muppathadam in Kerala and pays the bill using a unified payment interface (UPI). Unfortunately, the UPI account from which the payment was made is linked with an online fraud. The result? The bank accounts of the hotel, its chicken supplier and the...

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Moneylife Digital Team 20 January 2023
Enforcement directorate (ED), the agency responsible for enforcing economic laws and fighting economic crime in India, has frozen 36 bank accounts relating to various companies, individuals and proprietorships connected with Vihaan Direct Selling India Pvt Ltd, the master franchisee of...

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Krishnan PR 08 April 2023
On 4 November 2022, the Supreme Court (SC) had held that those willing to opt for a higher pension should be allowed to do so. Hence, those who have retired have to first contribute to the corpus with the difference between the capped amount and the actual amount at 8.33% with interest over...

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Moneylife Digital Team 18 July 2023
Come Thursday, Jio Financial Services Ltd (JFS) will demerge from Reliance Industries Ltd (RIL) and begin its separate journey on the stock market. Jio Financial Services will start trading as part of 19 indices, including Nifty 50, on 20th July. National Stock Exchange (NSE) will conduct a...

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IANS 10 August 2022
Tamil Nadu police are on a lookout for promoters of an investment firm after a mega fraud of Rs6,000 crore was detected in the state.   A Vellore-based LNS International Financial Services (IFS) has swindled a mammoth Rs6,000 crore from several investors across the state, including...

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Moneylife Digital Team 27 July 2022
The District Consumer Disputes Redressal Commission of North 24 Paraganas, has directed Sahara group unit Sahara Credit Cooperative Society Ltd to refund, along with interest, money invested by an investor in the company's scheme. The District Commission also stated that since the Securities...

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Alan Paul Varghese 14 January 2023
Banks across the country have started to follow directions issued by the Reserve Bank of India (RBI) on safe deposit lockers. However, due to a lack of standardisation in the process, bank customers are facing difficulties in following the RBI directions issued on 18 August 2021...

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A Supreme Court (SC)-appointed expert committee could well become a preferred choice for corporate India, when faced with a major financial scandal requiring a ‘systemically important investigation’. On 6th May, an expert committee submitted a report on the Adani saga making a masterly,...

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On 23rd December, when ICICI Bank’s former chief executive officer (CEO) Chanda Kochhar and her husband Deepak were busy sending out invitations to their son’s nuptials, the central bureau of investigation (CBI) decided to arrest the couple on an issue that has been in the public domain since...

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UPDATED at 10.20am on 16 November 2023 to reveal Rs342 deposited by cash by SBI in Reena's account.   State Bank of India (SBI) has unauthorisedly deducted Rs342 from a student account holder, even though its official position is that no insurance or investment service is mandatory to...

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Moneylife Digital Team 17 November 2023
As many as four non-banking financial companies (NBFCs) and two housing finance companies (HFCs) have surrendered their certificates of registration (CoR) to Reserve Bank of India (RBI) for various reasons. Separately, RBI has cancelled the registration of two NBFCs, New Delhi-based Todays...

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