Mumbai: Three private banks, caught in the Cobrapost sting operation, have been let off the hook with paltry penalties. The Reserve Bank of India on Monday imposed penalties on Axis, ICICI and HDFC banks after a sting operation by online magazine Cobrapost exposed many loopholes. RBI imposed a penalty of Rs 5 crore on Axis Bank, Rs 4.5 crore on HDFC Bank and Rs 1 crore on ICICI Bank. The...
06:41 PM, Jun 10, 2013
NR Narayana Murthy on Saturday returned to Infosys with the IT company appointing him as Executive Chairman of the Board. Murthy, who founded Infosys in 1981, had stepped down from the Board and became Chairman Emeritus in 2011. He has served as company's CEO from 1981 to 2002. ...
03:59 PM, Jun 01, 2013
Mumbai: India's banking system is not as strong as expected. An RBI report shows that over 30 banks have failed to follow or enforce various prescribed rules and guidelines. CNBC-TV18 has accessed the report of the audits instigated by the RBI after the Cobrapost expose, which shows that 30 banks, whether from the Public Sector, the private sector, or Foreign, have not followed the prescribed rules. It doesn't matter whether...
11:54 AM, May 30, 2013
New Delhi: Phaneesh Murthy, sacked a few days ago as iGATE president, will be sued by Araceli Roiz for sexually harassing and for making her pregnant. Roiz's lawyer Randall Aiman-Smith told Network18 that she is exploring an out of court settlement with Murthy. Murthy is being sued for sexually harassing Roiz, iGate's investor relations head, and allegedly making her pregnant. Her lawyer claims Murthy tried to force Roiz to undergo...
06:16 PM, May 23, 2013
New Delhi: Sacked iGATE President and CEO Phaneesh Murthy on Tuesday denied all charges against him and alleged that it was a case of extortion. "The charges against me are completely false. I have not violated company policy," Phaneesh Murthy said. Alleging extortion, Murthy said, "This is without doubt a case of extortion. The same lawyer who had represented the woman in 2002 is representing the woman this time as...
12:24 PM, May 21, 2013
SEBI Chairman UK Sinha said, "If you look at SEBI act section 11 AA, it has several exemptions - chit funds, cooperatives, Nidhi are exempted. ...
10:09 AM, May 21, 2013
On Overdrive this week, Mercedes Benz India MD and CEO Eberhard Kern talks about the company's fight back plan in India and Maruti Swift Dzire takes on its rival Honda Amaze. ...
08:33 PM, May 19, 2013
New Delhi: Generic drugmaker Ranbaxy has been fined $500 million by the US government after its subsidiary pleaded guilty to sale of adulterated drugs manufactured in India. It is the largest settlement by a generic medicine maker till date. It includes $150 million in payments for a criminal fine and forfeiture and $350 million in payments for civil claims. The adulterated drugs were made in Ranbaxy's plants in India and...
08:30 AM, May 14, 2013
CNBC TV18's Akanksha Sethi spoke to State Bank of India's chairman Pratip Chaudhary over the latest expose by Cobrapost revealing money laundering operations at SBI and other public sector unit banks. ...
09:48 PM, May 06, 2013
Twenty three public sector banks, including the SBI, and insurance companies have been named in a sting operation conducted by special investigations website Cobrapost. ...
05:55 PM, May 06, 2013
A strong earthquake of 6.8 magnitude was recorded off the remote northern coast of Papua New Guinea at a depth of about 8 km (5 miles) on Wednesday. ...
11:00 AM, Apr 17, 2013
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01:05 PM, Mar 24, 2013
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06:41 PM, Mar 21, 2013
Visiting Google Chairman Eric Schmidt claims that low cost smartphones will be the next step. "The big future is still smartphones. And the vast majority of Indians will encounter the internet on a smartphone, it will be a low cost smartphone of great power. They will deal with health and medicine that way, they will deal with education, they will entertain themselves,they'll build businesses on these smartphones," said Eric. ...
08:42 AM, Mar 21, 2013
