IndusInd Bank says only “small, two-digit exposure” to Gitanjali Gems

IndusInd Bank says only “small, two-digit exposure” to Gitanjali Gems

2018-02-20T09:46:51+00:00 On

Private sector lender IndusInd Bank clarified that it does not have any heavy exposure to the ongoing saga of fraud and crime involving unauthorized letters of comfort issued by an employee of Punjab National Bank. “IndusInd Bank has no direct credit exposures…

Gitanjali Gems compliance officer resigns over “absence of disclosure”

Gitanjali Gems compliance officer resigns over “absence of disclosure”

2018-02-19T11:39:22+00:00 On

Two key personnel of Gitanjali Ltd — its chief compliance officer and its chief financial officer — resigned last week, regulatory filings on Tuesday showed. While Pankhuri Warange, the chief compliance officer and the company secretary, resigned over concerns about “absence of…

Allahabad Bank’s exposure to Nirav Modi incident at Rs 2,362 cr

Allahabad Bank’s exposure to Nirav Modi incident at Rs 2,362 cr

2018-02-19T10:28:19+00:00 On

Allahabad Bank said it is exposed to the tune of  $366.87 million to the current incident involving diamond merchant Nirav Modi and the unauthorized Letters of Undertakings he allegedly secured from Punjab National Bank. However, said Allahabad Bank, it is not worried…

Kamal Hasan says ‘shocked’ at SC Cauvery verdict, but warns against politics of water

Kamal Hasan says ‘shocked’ at SC Cauvery verdict, but warns against politics of water

2018-02-17T10:31:39+00:00 On

Upcoming politician Kamal Hasan expressed ‘shock’ that the Supreme Court has reduced the quota of water allocated to Tamil Nadu from the river Cauvery, but said the matter should not be exploited for votes. “Like the farmers in Tamil Nadu, I am…

FULL TEXT – PNB STATEMENT on Nirav Modi; Axis, Allahabad Bank involved

FULL TEXT – PNB STATEMENT on Nirav Modi; Axis, Allahabad Bank involved

2018-02-16T08:50:07+00:00 On

Punjab National Bank, India’s second largest public sector bank, has issued a statement on exactly what happened in the Nirav Modi case that resulted in nearly $1.77 bln of unauthorized liabilities being taken on by the bank. In the statement, PNB detailed…

NSE seeks data on Nirav Modi case from PNB

NSE seeks data on Nirav Modi case from PNB

2018-02-15T12:31:51+00:00 On

National Stock Exchange of India, India’s largest securities trading platform, has sought details from Punjab National Bank on media reports regarding raids by enforcement agencies on the bank’s premises in the Nirav Modi case. “The exchange has advised the company to provide…

Thomas Cook hosts 5,000 students for 10 days for Khelo India School Games

Thomas Cook hosts 5,000 students for 10 days for Khelo India School Games

2018-02-16T11:09:08+00:00 On

Thomas Cook, India’s largest travel services company, said it was chosen as the hospitality partner for government of India’s national school games that was held as part of the ‘Khelo India’ (Play India) program last week. Without disclosing the financial details of…

Income Tax dept identifies millions of non-tax payers using software

Income Tax dept identifies millions of non-tax payers using software

2018-02-10T08:52:12+00:00 On

The income tax department has been able to identify millions of non-tax-filers and collect Rs 26,425 cr of self-declared tax by using software to analyze third party financial and transaction data over the last six years, the finance ministry said. The income…

UP under Yogi most aggressive in Madrasa upgradation ambitions

UP under Yogi most aggressive in Madrasa upgradation ambitions

2018-02-06T13:46:18+00:00 On

Uttar Pradesh has emerged as the most aggressive state in terms of targeting traditional schools known as madrasas for upgradation. In the last two years, the state has sought to upgrade 10,854 madrasas under the Center’s ‘Quality Education in Madarsas’ scheme. This is…

JEE applicants falls by 12% in 3 years; IIT seats go vacant

JEE applicants falls by 12% in 3 years; IIT seats go vacant

2018-02-06T12:17:48+00:00 On

The number of people appearing for the Joint Entrance Exam for admission to centrally funded engineering colleges continues to fall, with the latest numbers showing a year-on-year decline of 3.3%. JEE 2018 saw only 11.35 lakh students appear for the exam, compared…

Sreesanth gets hope as Supreme Court sends notice on lifetime ban

Sreesanth gets hope as Supreme Court sends notice on lifetime ban

2018-02-05T12:34:22+00:00 On

The Supreme Court today sent notices to relevant parties on cricketer Sreeshant’s plea to lift a lifetime ban on him imposed by the Mumbai-based Board of Control for Cricket in India. This is the third hearing on the matter. In August last…