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Vivek Velankar 30 November 2020
RTI activist, Vivek Velankar has been running a vigorous campaign in Pune to unearth information from big nationalised banks on large loan write-offs, exceeding Rs100 crore each. He covered 12 public sector banks (PSBs) in this mission and the results are staggering. Clearly, PSBs have little...

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Moneylife Digital Team 13 October 2020
Securitisation transactions plunged 80% to just over Rs20,000 crore by value in the first half of the current fiscal, following the COVID-19 pandemic and the moratorium on loan repayments allowed thereafter, says a note from ratings agency CRISIL, adding since September, however, number of...

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Moneylife Digital Team 02 January 2021
Investors of Karvy Stock Broking Ltd (Karvy), who had filed claims with the investor protection fund (IPF) of National Stock Exchange (NSE), have started receiving their money back within a fortnight after processing of claims began. Some investors, who have joined Moneylife Foundation's...

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Moneylife Digital Team 06 October 2020
Independent corporate governance research and proxy advisory firm Stakeholders Empowerment Services (SES) has released a detailed note which explains how Hindustan Zinc Ltd (HZL) has not paid dividend to Vedanta shareholders in violation of its own dividend distribution policies...

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Sucheta Dalal Sucheta Dalal 07 August 2020
A rather worrying message came to me from a top market intermediary, who said the content is plausible and the source fairly reliable.    It read (I have not corrected or edited the message): An interesting situation seems to have developed. Specifically for NSE Clearing House. Banks...

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Moneylife Digital Team 11 December 2020
UPDATED on 14 December 2020 at 12.30pm to add information on Net4India grievance redressal as shared by Mr Vikram Bajaj, RP for the company   Net4India Ltd, the largest domain registrar in India that is accredited with Internet Corporation for Assigned Names and Numbers (ICANN), has...

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Moneylife Digital Team 02 November 2020
A lot of us carry very little cash with us these days. Since we carry debit cards in our wallets, we rely on automated teller machines (ATMs) to withdraw cash as per our needs. Though this is so convenient, sometimes operating an ATM can be tricky. There are times when the ATM may run out of...

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Moneylife Digital Team 07 May 2021
A screenshot of a LinkedIn post by ISB (Indian School of Business) gold medallist Sarthak Ahuja has recently gone viral on WhatsApp and other social media with a claim that if someone with active employment passes away due to COVID-19, his or her legal heirs are eligible to receive money...

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Sucheta Dalal Sucheta Dalal 21 October 2020
In a 60-page order issued on 20th October, the NSE Clearing Ltd/ National Stock Exchange (NSE) has asked Edelweiss Custodial Services Ltd to credit Rs460 crore that was provided as a bank guarantee by Anugrah Stock & Broking Pvt Ltd (Anugrah) to an escrow account. Following an investigation,...

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Moneylife Digital Team 07 December 2020
At 18 broker defaults on the National Stock Exchange (NSE) and 16 on the Bombay Stock Exchange (BSE), the year 2020 has seen the highest number of broker defaults in the past 20 years. In fact, since the dotcom bubble burst and the Ketan Parekh scam of 2001-2002, this is the highest number of...

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More trouble is brewing for GVK Infrastructure and Power, including Mumbai International Airports Limited (MIAL), after the action by enforcement agencies as the lenders are in the process of appointing a forensic auditor. Top banking sources revealed that this is imminent after the PWC...

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Sucheta Dalal Sucheta Dalal 27 January 2021
It is over a decade now that, we, Indians have been putting up with the harassment, humiliation and mental agony of banks arrogantly freezing savings and current accounts for technical reasons, the most common one being non-compliance with frequent updation of know-your-customer (KYC)...

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TR Bhat TR Bhat 24 August 2020
After three rounds of mergers of 28 public sector banks (PSBs) to reduce their number to 12, the Union government is now planning to sell some of them.  The familiar cliché is that it is not the business of the government to be in business. With the non-performing assets (NPAs) going out of...

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Yogesh Sapkale Yogesh Sapkale 12 October 2020
Following in the footsteps of other large public sector banks (PSBs), Central Bank of India too wrote off Rs17,239.74 crore and recovered a paltry 7% or Rs1,205.92 crore over the past eight financial years from big defaulters. As it has become a norm with PSBs, Central Bank too denied sharing...

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A message is being circulated widely on WhatsApp and other social media with a claim that the benefits under two of the prime minister's (PM's) schemes—the Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY) and Pradhan Mantri Suraksha Bima Yojana (PMSBY)—can be claimed for COVID-related...

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Moneylife Digital Team 13 November 2020
Have you been mis-sold a financial product by your bank? Do you have issues related to loans or deposits? Have you been charged wrongly by the bank? Have you experienced problems while using Internet banking or mobile banking? Tired of waiting for your bank’s response? Not getting a...

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Shrirang Samant 23 February 2021
Ever since the finance minister (FM) announced in her budget speech that the government will privatise a couple of banks and a general insurance company in the coming financial year, speculation has been rife about the possible candidates for disinvestment. There has been another major...

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Moneylife Digital Team 10 October 2020
A long moratorium exceeding six months can impact credit behaviour of borrowers and increase the risks of delinquencies post resumption of scheduled payments, the Reserve Bank of India (RBI) told the Supreme Court.   According to a report from LiveLaw, the central bank has submitted...

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Moneylife Digital Team 16 October 2020
Investors of Modex International, a brokerage firm, which has apparently duped investors of around Rs100 crore can finally hope to get some money from stock exchange investor protection funds.  Although the largest default was on the National Stock Exchange (NSE), the Bombay Stock Exchange...

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Zafar Abbas (IANS) 14 September 2020
Online fraudsters might have mastered the art of duping people with various new stratagems but their inability to communicate fluently in English has limited their reach to the Hindi-speaking belt. An analysis of complaints received on the National Cyber Crime Reporting Portal reveals that...

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