By Express press service VIJAYAWADA: One Time Settlement Scheme (OTS) or Jagananna Sampoorna Gruha Hakku Scheme has proven to be more beneficial for the people of the state. Chief Minister YS Jagan Mohan Reddy on Monday launched a loan facility for beneficiaries of the OTS scheme. Chaitanya Godavari Grameena Bank extended loans worth Rs 3 […]
A supervisory circular has been issued against the directors of ABG Shipyard Ltd New Delhi: Supervisory circulars have been issued against bosses and senior managers of ABG Shipyard in an alleged Rs 23,000 crore bank fraud case. A surveillance circular is used to prevent anyone wanted by law enforcement from leaving the country via airports […]
The Central Bureau of Investigation (CBI) on Saturday filed an FIR against ABG Shipyards and its directors for allegedly deceiving a consortium of banks out of Rs 22,842 crore. A complaint has been filed against them by the State Bank of India (SBI). Acting on the SBI’s complaint, the CBI filed the FIR naming Rishi […]
KOLKATA: The World Bank has approved a $125 million (about Rs 1,000 crore) loan to Bengal to expand coverage of about 400 state-run social schemes, especially direct cash transfers targeted at vulnerable sections , over the next four years. The Bank said a recent survey found that while food and in-kind transfers reached most poor […]
Kolkata: The World Bank has approved a $125 million (about Rs 1,000 crore) loan to Bengal to expand coverage of about 400 state-run social schemes, especially direct cash transfers to sections vulnerable over the next four years.The Bank said a recent survey found that while food and in-kind transfers reached most poor and vulnerable households […]
Kolkata: The World Bank has approved a $125m (about Rs 1,000 crore) loan to the government of West Bengal for inclusive social protection in what appears to be a major acknowledgment of Chief Minister Mamata Banerjee’s social pension schemes for groups vulnerable in society. On Saturday, the state government said: “The foresight of the Honorable […]
The promoter and managing director of a Hyderabad-based company has been arrested under the anti-money laundering law in connection with a bank loan fraud of Rs 402 crore, where a consortium of public sector banks allegedly been cheated, the Enforcement Branch (ED) said Tuesday. Avasarala Venkateswara Rao of Servomax India Private Limited (SIPL) was arrested […]
The promoter and managing director of a Hyderabad-based company has been arrested under the anti-money laundering law in connection with a bank loan fraud of Rs 402 crore, where a consortium of public sector banks allegedly been cheated, the Enforcement Branch (ED) said Tuesday. Avasarala Venkateswara Rao of Servomax India Private Limited […]
The loan portfolio of the country’s largest private lender, HDFC Bank, increased by 16.4% year-on-year (YOY) to Rs 12.6 trillion as of December 31, 2021 (Q3FY22) from 10, 82 trillion rupees a year ago. Sequentially, its advances increased by 5.1% from 11.98 billion rupees in September 2020 (Q2FY22). Commercial banks in India, […]
The Law Enforcement (ED) Directorate said on Monday that it had seized assets worth more than Rs 26 crore from a Vodadara-based company in a money laundering investigation linked to an alleged bank loan fraud of around Rs 2,654 crore. The properties provisionally seized under the Prevention of Money Laundering Act (PMLA) belong to Diamond […]
HYDERABAD: The Central Bureau of Investigation has taken action against Hyderabad-based Vijaya Aero Blocks Private Limited in connection with a 44.60 crore loan fraud. The company, which manufactures cement bricks, had taken out loans from the Bank of Baroda but failed to repay them. The CBI named promoters – Narra Kumar Prasanna, Chigurupati Ram Prasad, […]
According to the latest bank credit sector deployment data released by the Reserve, bank credit rose 7.1% in November, above the 5.9% recorded in the same period a year ago, largely thanks in part to better growth in lending to individuals, agriculture and MSMEs. Bank of India Credit to agriculture and related activities remained robust […]
Bareilly: A 35-year-old man from Shahjahanpur reportedly committed suicide by hanging on Wednesday afternoon after learning that a fake account had been opened in his name in 2015 at a private bank and had been used to commit credit fraud worth almost Rs 1 crore. The bank officials reportedly forced him to deposit the money […]
BAREILLY: A 35-year-old man from Shahjahanpur is believed to have committed suicide by hanging on Wednesday afternoon after learning that a fake account had been opened in his name in 2015 at a private bank and had been used to commit credit fraud worth almost Rs 1 crore. The bank officials reportedly forced him to […]
Congress asked why an administrator was not appointed for the Essel group. (To file) New Delhi: Congress alleged on Friday that there was a connection between the Center and its “corporate friends”, and questioned why no action had been taken against the promoters of Dish TV Essel Group, which had not reimbursed the loans to […]
The ED said on Thursday it had seized assets worth Rs 100 crore from a ‘regular offender’, who took out new loans to repay old ones, and was being questioned for money laundering. money linked to alleged fraud against an IDBI branch in Andhra Pradesh. Rebba Satyanarayana’s farmlands, fish ponds, commercial sites, plots and apartments […]
The ED said on Thursday it had seized assets worth Rs 100 crore from a ‘regular offender’, who took out new loans to repay old ones, and was being questioned for money laundering. money linked to alleged fraud against an IDBI branch in Andhra Pradesh. Rebba Satyanarayana’s farmlands, fish ponds, commercial sites, plots and apartments […]
NEW DELHI: HDFC Bank, the country’s largest private sector lender, said on Friday its MSME ledger recorded 17% year-on-year growth to over Rs 13,000 crore at the end of September in the ‘Uttar Pradesh. As of September 30, 2021, the Micro, Small and Medium Enterprise (MSME) loan portfolio for Uttar Pradesh stood at Rs 13,154 […]
The country’s largest private sector lender, HDFC Bank, said on Friday that its MSME ledger had recorded 17% year-on-year growth to over Rs 13,000 crore at the end of September in Uttar Pradesh. . As of September 30, 2021, the Micro, Small and Medium Enterprise (MSME) loan portfolio for Uttar Pradesh stood at Rs 13,154 […]
BHUBANEWAR: CBI officials on Thursday raided the properties of a businessman in Cuttack for allegedly defrauding two banks of around Rs 140 crore after taking loans in 2013 to set up a brewery factory. The businessman has been identified as Ranjan Kumar Padhi, Managing Director of SR Alcobev Pvt Ltd. The CBI has filed a […]
Assets worth more than Rs 42 crore of a Kolkata-based company were seized in connection with a money laundering investigation linked to a suspected bank fraud case, the management of the company said on Monday. execution (ED). An interim order for the seizure of 11 properties of Shree Mahalaxmi Corporation Pvt Ltd has been issued […]
The Enforcement Directorate (ED) said on Tuesday it raided the premises of the Ghosh Brothers group of companies, a leading business group with several car dealerships in Guwahati, as part of a money laundering investigation. linked to an alleged bank loan fraud against him. Cash and jewelry worth Rs 63 lakh were seized by the […]
Credit and Finance for MSMEs: The total gross bank credit of Rs 13.20 lakh crore deployed in the MSME sector in September 2021 was 12.04% of India’s overall gross bank credit of Rs 109.56 lakh crore. Credit and finance for MSMEs: After two months of positive growth in the annual deployment of gross bank credit […]
The Enforcement Directorate (ED) alleged that the alleged fraud on bank loans involving Gautam Thapar was mutually beneficial for the Avantha group, promoted by the businessman, and Yes Bank. In its response opposing Thapar’s bail application, the federal agency told a local court on Friday that the proceeds of crime of Rs 131 crore had […]
New Delhi, September 30 The Law Enforcement (ED) Directorate today said it had issued an interim seizure order under the Prevention of Money Laundering Act to seize assets worth $145, Rs 26 crore belonging to SA Rawther Spices Pvt Ltd and others in the J&K Bank loan fraud case. ED officials said the attached assets […]
Ujjivan Small Finance Bank, which is going through a management crisis, said its loan recovery had improved and its portfolio at risk had been reduced in August. The bank said its action plan to improve asset quality has started to bear fruit. Portfolio at risk (PAR) was reduced to 21.7% from 30.8% in June with […]
The Enforcement Directorate (ED) announced on Monday that it had arrested the managing director of a Mumbai-based agricultural company in connection with a money laundering investigation linked to alleged multi-crore bank fraud. Vinod Chaturvedi, managing director of Usher Agro Limited and other group companies, was arrested on September 17 in a case of “bank loan […]
HYDERABAD: The Central Bureau of Investigation (CBI) has registered a fraud case against Saptarishi Hotels Private Limited and Maha Hotel Projects Private Limited and its promoters for bank loan fraud of Rs 160 crore. The complaint was filed by the Punjab National Bank. CBI alleged that Saptarishi Hotels is the developer of a 4-star hotel, […]
One of the promoters of the Karvy Group scam was arrested here Thursday for non-payment of a bank loan, police said. C Parthasarathy was arrested for non-payment of a loan taken from IndusIndbank in 2019 and for diverting the funds to other bank accounts, said Avinash Mohanty, Joint Police Commissioner (Detective), adding that ‘there were […]
One of the promoters of the Karvy Group scam was arrested here Thursday for non-payment of a bank loan, police said. C Parthasarathy was arrested for non-payment of a loan taken from IndusIndbank in 2019 and for diverting the funds to other bank accounts, said Avinash Mohanty, Joint Police Commissioner (Detective), adding that ‘there were […]
Tribune press service New Delhi, July 29 The Directorate of Law Enforcement (ED) today arrested the promoter of the Gurugram-based Ambience group, Raj Singh Gehlot, under the provisions of the Prevention of Money Laundering Act (PMLA) in the part of a Rs 800 crore bank loan fraud, agency officials said. Rs800 crore siphoned off The […]
The Enforcement Department arrested Raj Singh Gehlot, owner of the famous Ambience shopping center in Gurugram, in an alleged case of bank loan fraud amounting to Rs 200 crore. ED arrested Ambience mall owner Raj Singh Gehlot in an alleged bank loan fraud case. The Directorate of Enforcement (ED) on Thursday arrested Raj Singh Gehlot, […]
Express news service THIRUVANANTHAPURAM: Major flaws in the banking software used by the Karuvannur Cooperative Services Bank came to the aid of the cartel of employees who had committed fraud on loans worth Rs 300 crore over the years. Investigators suspect that the software flaws and neglect in software security were willful acts by senior […]
Bandhan Bank Limited, headquartered in Kolkata, said Thursday that its loans and deposits declined quarter-over-quarter (QoQ) in an update from the Securities and Exchange Board (SEBI). Bandhan Bank, in accordance with SEBI regulations, revealed that its total loans and advances decreased by 8% to Rs 80,128 crore in the June quarter, from Rs 87,043 crore […]
Yes Bank said loans and advances decreased 0.4% to Rs 163,914 crore as of June 30, 2021 from Rs 164,510 crore as of June 30, 2020. Loans and advances issued are 1.8% lower compared to Rs 166,893 crore as of March 31, 2021. Bank deposits increased 39.1% to Rs 163,295 crore as of June 30, […]
The CBI booked Arjun Singh Oberoi, director of Golden Jubilee Hotels, as well as its CEO and managing director Laxmi Narayan Sharma, in connection with an alleged fraud in connection with a default of more than Rs 1,285 crore in a consortium of seven banks led by the Bank of Baroda, officials said Thursday. The […]