New Delhi: A local court conducting the proceedings in the 2008 cash-for-vote scam case on Monday pulled up Delhi Police for the delay in supplying the transcript of the CD of the sting to the accused persons. Special judge Sangita Dhingra Sehgal questioned the police for delay in handing over the copy of the transcript to the accused and directed them to supply it by May 8. The police, however,...
06:24 PM, Apr 30, 2012
London: A woman in Britain has been found keeping her 10-year-old son locked up in a coal-bunker for over a year for being naughty or stealing food from the kitchen. His room had a soiled mattress, a dirty sleeping bag and a urine-filled potty. The youngster slept in the padlocked outhouse every night and was imprisoned for hours at a time during the day if he misbehaved. While the woman,...
03:50 AM, Apr 23, 2012
New Delhi: Home and car loans may get cheaper as the Reserve Bank of India (RBI) signalled a possible interest rate cut to boost economy at its annual credit policy on Tuesday. The government said on Monday that inflation had slightly eased in March, a day before what is forecast to be the first interest rate cut in three years, but a cautious tone from the Reserve Bank of India...
07:46 AM, Apr 17, 2012
Mumbai: Country's largest lender SBI on Saturday said it will reduce lending rate if the Reserve Bank reduces cash reserve ratio in the credit policy later this month. "We expect a CRR (Cash Reserve Ratio) cut of 75 basis points. If it happens we will definitely pass the benefit to the consumers," State Bank of India (SBI) Chairman Pratip Chaudhuri said on the sidelines of 6th International Banking and Finance...
06:42 PM, Apr 07, 2012
New York: Apple Inc. said it will announce the outcome of its internal discussion concerning its enormous cash balance on Monday morning. Analysts expect Apple to institute a dividend. It can easily afford one, since it had $97.6 billion in cash and securities at the end of last year. That would be enough for a $100 one-time dividend for every shareholder, but analysts expect the company to institute a modest...
12:13 PM, Mar 19, 2012
Mumbai: The second largest private sector lender HDFC Bank has said the present situation is not conducive for rate cuts but further reduction in Cash Reserve Ratio (CRR) could lead to lower interest rates. "As far as reduction in interest rate is concerned, if there is more CRR cuts, it will happen. Because, given the inflationary environment, we can't reduce the deposit. Also, the call rates are high due to...
01:59 PM, Mar 18, 2012
Mumbai: In a twisted irony, the Maharashtra state's stringent de-addiction policy sprang brazenly back in its face when 14 Navi Mumbai policemen were caught smuggling 500 bottles of alcohol from Goa. The cops, including an assistant inspector and two assistant sub-inspectors, have been placed under suspension pending further inquiry. The incident happened on Wednesday night when the police team, on deputation with the Reserve Bank of India, were returning from...
03:10 PM, Mar 16, 2012
New Delhi: To motivate Naxals to join the mainstream, Andhra Pradesh and Odisha have decided to offer up to Rs 25 lakh for any top Maoist leader who comes forward to surrender and give up the path of violence. The decision has been taken by the two state governments following a suggestion of the Home Ministry to announce lucrative cash offer for the Maoists who are keen to lay down...
08:06 PM, Mar 09, 2012
New Delhi: Uttar Pradesh saw the maximum amount of cash being seized during restrictions imposed in the run up to the assembly elections in five states, while Punjab topped the seizures for drugs and illicit liquor. Rs 37.46 crore in cash was seized in Uttar Pradesh during polls, accounting for 72 per cent of the cash seizures. Huge quantities of drugs were seized in border state of Punjab which included...
07:40 PM, Mar 05, 2012
Amravati: An embarrassed Congress legislator and President Pratibha Patil's son Raosaheb Shekhawat Tuesday said a "communication gap" resulted in Rs 1 crore cash being seized by Maharashtra Police only days before the polls to major municipal corporations in the state. "There was some communication gap as the state Congress could not inform when and how the money was being sent. I learnt (of it) only after the police seized the...
08:24 PM, Feb 21, 2012
New Delhi: President Pratibha Patil's son Rajendra Shekhawat appeared before the police commissioner to record his statement in connection with a notice given to him by the Amravati district collector after Rs 1 crore of unaccounted cash was seized from a vehicle before last week's civic elections. Amravati MLA Shekhawat had claimed that the money was intended for legitimate election expenses to be distributed among the financially weak candidates. The...
01:05 PM, Feb 21, 2012
In the late 1990s, during the good old days of dotcom 1.0, many browsing centres across the country tried to marry email with snail mail. They targeted old people who were comfortable reading on paper, but whose children preferred the speed of email. For a fee, these small-time entrepreneurs took printouts of email and delivered the letters home. But people were worried about privacy and the experiment died soon. A...
10:57 AM, Feb 01, 2012
Mumbai: Banks are likely to reduce lending rates for select sectors and may see an improvement in their net interest margins after the RBI cut cash reserve requirements for banks, top bankers said. The lending rates may be reduced for segments which are seeing higher demand for credit and lower level of defaults, Pratip Chaudhuri, chairman of State Bank of India, the country's top lender, said. The banks, however, did...
10:40 AM, Jan 25, 2012
Mumbai: Reserve Bank of India Governor Duvvuri Subbarao said on Tuesday it would be difficult to predict the timing, pace and magnitude of any interest rate cuts. The RBI will be very circumspect about how rate cuts should roll out when they start, he said, adding the central bank would also have to look at the fiscal deficit before cutting rates. The bank will look at how Tuesday's cut in...
04:57 PM, Jan 24, 2012
New Delhi: The Reserve Bank's decision to cut cash reserve ratio (CRR) by half a percentage point will boost the economic growth by increasing liquidity in the system and reducing cost of fund, the Finance Ministry said on Tuesday. "CRR cut ensures that fair amount of money is available, the cost of fund is reduced ... All these things are good to create a growth enhancing impression," Economic Affairs Secretary...
01:39 PM, Jan 24, 2012
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