New Delhi: A Delhi-based couple was arrested from Kolkata for duping several banks by forging documents, police said Saturday. Kamal Kishore Shukla, 60, and his wife Shashi Shukla, 53 were arrested on May 15 from Kolkata.
The duo had obtained housing loans from different banks against a single property in Vaishali area of Uttar Pradesh's Ghaziabad, adjoining Delhi, with the help of fake documents and had even sold the same property to many different buyers, said police. "They were on the run since 2007 and had caused a loss of over Rs 85 lakh to as many as seven banks in Ghaziabad and Noida (Delhi suburbs) as well as two individuals," said an official.
Their arrest came when they tried to cheat a bank in Kolkata using similar methods but were caught.
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11:26 PM, May 18, 2013
Rajnandgaon: Gujarat Chief Minister Narendra Modi on Saturday said only BJP had challenged the prevailing vote-bank politics in the country. At a rally in Rajnandgaon, the Assembly constituency of Chhattisgarh Chief Minister Raman Singh, Modi said before BJP came to power in December 2003, there was no growth in this mineral-rich state. "The country has witnessed vote-bank politics for fifty years. After gaining power through vote-bank politics, leaders subsequently promoted...
10:24 PM, May 18, 2013
A 19 October, 2011 circular of the National Housing Bank says no penalty or fee for prepayment of home loans can be charged, provided the ...
10:16 PM, May 17, 2013
Port Louis: Facing allegations of being a route for round-tripping of funds and money laundering by Indian entities, Mauritius says it is fully committed to remain a credible financial centre and there has been 170 cases of exchange of information with Indian authorities in the past three years. Allaying the perception of Mauritius being a tax-haven, the government's investment promotion agency Board of Investment (BOI) also said that Mauritius on...
02:48 PM, May 17, 2013
Banka: Cracking the UPSC is a difficult proposition, especially for aspirants who live in Naxal-infested areas, with no access to proper coaching facilities. But all that has changed in Bihar's Banka district due to the efforts of District Magistrate Dipak Anand and his deputy Sub-Divisional Magistrate Mithilesh Mishra. Together, they conduct free coaching sessions for students taking the UPSC exam from this region. With no proper guidance, the youth in...
11:02 PM, May 15, 2013
London: HSBC will redouble cost-cutting efforts, including axing up to 14,000 more jobs, but Europe's largest bank was forced to soften a key performance target in the face of muted revenue. London-headquartered HSBC is seeking up to $3 billion in additional annual savings by 2016, on top of $4 billion already achieved, but sluggish growth outside Asia, particularly in Europe, means its target to get costs below 52 per cent...
08:10 PM, May 15, 2013
Frankfurt: The Reserve Bank of India (RBI) has said it would take into account falling inflation while deciding on policy initiative in its review next month. "We certainly will take note of the softening of inflation and the external payments situation in the next mid-quarter policy statement on June 17," RBI Governor D Subbarao said at an event in Frankfurt on Tuesday. He said he was happy to see that...
05:35 PM, May 15, 2013
New Delhi: Encouraged by the declining trend in inflation, the Finance Ministry on Tuesday made a case for further rate cut by the Reserve Bank to boost sagging growth. "I think we need to look at statement made by RBI Governor during the last policy review where he had stated that RBI is closely monitoring inflation figures and if there is dramatic change in inflation figures then RBI will take...
03:41 PM, May 14, 2013
Mumbai: The Reserve Bank of India (RBI) has directed banks to do away with stapling of note packets and issue only clean currency notes to the public. "...banks should do away with stapling of any note packet and instead secure note packets with paper bands and should sort notes into re-issuables and non-issuables, and issue only clean notes to public," it said in a notification. It also asked banks to...
03:26 PM, May 14, 2013
Lucknow: The Japan International Cooperative Agency (JICA) has offered the Uttar Pradesh government financial assistance for the Metro rail project and a host of other projects, including the Agra-Lucknow expressway, officials said Tuesday. JICA sought details of the projects at a meeting with Chief Secretary Jawed Usmani Monday. The World Bank has already expressed its willingness to give funding for the Lucknow Metro rail and Agra-Lucknow expressway projects. Both these...
11:21 AM, May 14, 2013
Mumbai: With gold imports putting pressure on the current account deficit, the Reserve Bank on Monday imposed restrictions on import of the yellow metal by banks. "To moderate the demand for gold for domestic use, it has been decided to restrict the import of gold on consignment basis by banks, only to meet the genuine needs of exporters of gold jewellery," the RBI said in a statement. As per a...
03:36 PM, May 13, 2013
New Delhi: The Reserve Bank of India is probing the Cobrapost sting operation on alleged money laundering by top banks. The RBI report has revealed major irregularities in top banks. The report shows string of violations on several counts. Sources say the RBI report reveals dummy PANs, unknown NRO IDs, unauthorised gold sale, rampant non-compliance of KYC norms and irregular staff trips. Sources say the RBI probe into ICICI Bank...
01:14 PM, May 13, 2013
Mumbai: State Bank of India on Friday said it has entered into a partnership with the Industrial Bank of Korea to help the Korean small businesses doing business here in the country. The agreement will help about 480 Korean small and medium enterprises operating in the country, SBI said in a statement issued in Mumbai. In the absence of a branch of the Korean bank in the country, "this agreement...
03:45 AM, May 11, 2013
New Delhi: A Barabanki court has rejected Uttar Pradesh government's plea to release UP serial blast accused Tariq Qasmi and Khalid Mujahid. HuJi activists Tariq and Khalid were arrested with explosives on December 20, 2007. The state government on Friday moved an application in a local court in Barabanki requesting for permission to withdraw cases against the alleged Huji operatives. UP Special Task Force had arrested both the alleged Huji...
02:29 PM, May 10, 2013
New Delhi: The net is now closing in on Railway Minister Pawan Kumar Bansal. His exit now looks highly likely as more reports about business links of his family and aides come out. In another revelation, a Chartered Accountant with links to companies owned by Pawan Bansal's wife and sons was appointed a director in the Canara Bank when Bansal was MoS Finance. Canara Bank gave loans worth crores to...
11:36 AM, May 10, 2013
Srinagar/Chandigarh: Amid fresh allegations of money laundering by banks, RBI and several banks on Thursday said actions are being taken against erring institutions and employees for violating prudential banking norms. The central bank has already completed investigations against banks and would take action against guilty institutions, RBI Governor D Subbarao said in Srinagar. "We have done investigations, we have prepared an internal report. There are processes to be followed to...
10:32 PM, May 09, 2013
Chandigarh: Bank officials' advices of splitting deposits to evade taxes, as exposed in a sting operation by an online news portal, are "undesirable loose talks" but there is no apparent criminality, SBI Chairman Pratip Chaudhuri said on Thursday. "Prima facie, things that have come to our notice it looks (that) there is no criminality in the sense that somebody has suggested splitting up your deposits, say Rs 50 lakh into...
09:45 PM, May 09, 2013
Srinagar: The Reserve Bank of India (RBI) on Thursday said it has completed investigations against banks following the Cobrapost expose and will take action if they are found guilty of violating prudential banking norms. "We have done investigations, we have prepared an internal report. There are processes to be followed to take investigations to its logical closure...The first is action against individual institutions who are involved in practises which are...
02:50 PM, May 09, 2013
Washington: The California-based subsidiary of State Bank of India (SBI) has agreed to take a series of steps to improve its banking practices related to bad loans following a review by US regulators. The largest Indian bank consented March 6, 2013 to the orders of the federal and state regulators "without admitting or denying any charges of unsafe or unsound banking practices relating to the June 18, 2012, examination". The...
04:28 AM, May 09, 2013
Srinagar: Dismissing the criticism that RBI's steps to check inflation have hurt growth, Reserve Bank Governor D Subbarao on Wednesday said the monetary authority has the responsibility to listen to "silent voices" of millions of people impacted by rising prices. "There is an important constituency in the country that is hurt by inflation. Their voice also needs to be heard. It is the responsibility of public policy institutions like the...
02:45 AM, May 09, 2013
