Bangalore: A four-member gang waylaid a van carrying cash to an ATM here and decamped with Rs 65 lakh, police said today. The gang waylaid the van when it was proceeding from Electronic City to fill cash in the Union Bank of India's ATM in Jayanagar last night. After spraying chilli powder into the eyes of those inside the van and threatening the security person, they decamped with Rs 65...
03:38 PM, Oct 05, 2012
Hyderabad: Former Karnataka minister Gali Janardhana Reddy is likely to be produced in court on Friday as his judicial custody ends. Reddy has been in jail in connection with an illegal mining case since September 2011. Seven people have been accused of trying to bribe a judge to grant him bail. Associated Mining Corporation (AMC) and Deccan Mining Syndicate (DMC) owned by Reddy and his wife Aruna Lakshmi have been...
09:32 AM, Oct 05, 2012
New Delhi: The Delhi Police has arrested four more people in connection with the Defence Colony ATM van robbery where Rs 5.25 crore was looted in cash. With these arrests, the number of arrested have gone up to nine people. During overnight raids on Sunday, the police have managed to recover Rs 2.3 crore. Earlier, the police had already recovered Rs 2.3 crore. With Sunday night's raids, the police have...
11:27 AM, Oct 01, 2012
New Delhi: The police have been able to make some headway in the investigations into the ATM van robbery of Rs 5 crore cash in Delhi on Friday. They have found two open cash trunks in Khirki village in the capital near a security post. Witnesses reportedly told the police they had not seen the boxes till Saturday morning. The Khirki village is just a small distance from where the...
01:06 PM, Sep 29, 2012
New Delhi: An ATM van carrying Rs 5 crore cash was looted by robbers in broad daylight on Friday in Delhi's Defence Colony. The van was carrying the cash of the ICICI Bank. The robbers shot at the guard and ran away with the ATM van. The guard has been admitted to the AIIMS trauma centre and is in a critical state. The police reached the spot and were carrying...
02:28 PM, Sep 28, 2012
New Delhi: The slogan for the fifth edition of the Delhi International Arts Festival (DIAF) next month is "Unusual and international". Among the things unusual about this 15-day fest is the budget allocated to it by the culture ministry - a mere Rs 8 lakh. Festival director and principal promoter Prathibha Prahlad, also a noted Bharatanatyam danseuse, says the total cost of the Oct 27-Nov 11 festival works out to...
04:11 PM, Sep 27, 2012
Mumbai: Sales representatives for Abbott Laboratories Inc's Indian subsidiaries know what it takes get a doctor to prescribe the drugs they market: a coffee maker, perhaps, or some cookware, or maybe a vacuum cleaner. These are among the many gifts for doctors listed in an Abbott sales-strategy guide for the second quarter of 2011, a copy of which was reviewed by Reuters. As laid out explicitly in the guide, doctors...
06:29 PM, Sep 26, 2012
New Delhi: The Reserve Bank's decision to cut the Cash Reserve Ratio by 0.25 per cent, the percentage of deposits banks keep with central bank, has received mixed response from India Inc, which has been demanding a reduction in interest rate to spur growth. Interest rates on home and car loans may ease despite the key policy rates left unchanged by the RBI which lowered the CRR by 0.25 per...
04:58 PM, Sep 17, 2012
New Delhi: Prime Minister's Economic Advisory Council (PMEAC) on Monday said the RBI move to infuse liquidity in the system is "more potent" than a cut in interest rate and it will help banks expand credit portfolio. "The RBI has taken a cautious step. The latest data on inflation has not been encouraging...Under the circumstances, I believe this (25 bps reduction in CRR) is the maximum the Reserve Bank could...
04:45 PM, Sep 17, 2012
The market was expecting the Reserve Bank of India to cut interest rates after the government announced some key policy reforms last week. But by keeping the repo rate unchanged at 25 basis points, the RBI has made it clear that it is more worried about curbing inflation in the short term. However, in a bid to ease liquidity in the system, the central bank has trimmed the cash reserve...
03:54 PM, Sep 17, 2012
New Delhi: The government on Monday welcomed with open arms the 25 basis points cut in the Cash Reserve Ratio (CRR) by the Reserve Bank of India (RBI) but said that it was still a small step. "The CRR cut by RBI is welcome. But it is a small step. We are not disappointed," said Finance Minister P Chidambaram. He said that the government expected more "supportive steps" from the...
12:50 PM, Sep 17, 2012
Mumbai: The Reserve Bank of India (RBI) in its mid-quarter monetary policy review on Monday kept the repo rate unchanged but cut the Cash Reserve Ratio (CRR) by 25 basis points (bps), a move that will likely infuse Rs 17,000 crore into the economy. The RBI will continue to target inflation in its credit policy. Following are the highlights of the mid-quarter monetary policy review announced by the RBI on...
12:23 PM, Sep 17, 2012
The Reserve Bank of India (RBI) in its mid-quarter monetary policy review on Monday kept the repo rate unchanged but cut the Cash Reserve Ratio (CRR) by 25 basis points (bps), a move that will likely infuse Rs 17,000 crore into the economy. The RBI will continue to target inflation in its credit policy. Below is the full text of its review report. Monetary and Liquidity Measures On the basis...
11:24 AM, Sep 17, 2012
New Delhi: The Reserve Bank of India (RBI) cut the cash reserve ration (CRR) by 25 basis points, which will leave Rs 17,000 crore more with the banks. Announcing its credit policy on Monday, which came in the backdrop of some big bang reforms pushed by the UPA Government, the RBI brought down the CRR from 4.75 per cent to 4.50 per cent. However, the repo rate remained unchanged at...
11:08 AM, Sep 17, 2012
New Delhi: The Reserve Bank of India (RBI) will be out with its credit policy on Monday amid mixed cues. It will continue to target inflation in its credit policy, that's the unanimous view of bankers, economists and fund managers polled by CNBC-TV18. Eighty per cent of the market expects RBI to leave policy rates unchanged and only 20 per cent expect a cut in repo rate. However, analysts believe...
06:29 AM, Sep 17, 2012
Anderson has played only a limited role for Lancashire in recent years after becoming a key member of England's bowling attack. ...
06:17 PM, Sep 13, 2012
New Delhi: The Supreme Court on Monday refused to quash corruption charges against former Punjab and Haryana High Court judge Nirmal Yadav in the cash-at-the-door scam. Nirmal Yadav had sought the quashing of charges against her in the case. The apex court, however, refused and ordered the trial to continue. The case came to light when a clerk sent by the then Additional Advocate General of Haryana, Sajiv Bansal, mistakenly...
12:06 PM, Sep 10, 2012
Hyderabad: A local court on Friday granted bail to two accused in the cash-for-bail case involving former Karnataka Minister and mining baron Gali Janardhan Reddy. Suspended CBI court judge Talluri Pattabhirama Rao's son T Ravi Chandra and lawyer T Aditya, facing charges of conspiring with others to secure bail for Reddy in Obulapuram Mining Company (OMC) case, were given bail by Anti-Corruption court in Hyderabad. The court asked them to...
05:58 PM, Sep 07, 2012
Hyderabad: A local court on Thursday granted bail to two accused in the cash-for-bail case involving former Karnataka Minister and mining baron Gali Janardhan Reddy. Suspended CBI court judge Talluri Pattabhirama Rao's son T Ravi Chandra and lawyer T Aditya, facing charges of conspiring with others to secure bail for Reddy in Obulapuram Mining Company (OMC) case, were given bail by Anti-Corruption court in Hyderabad. The court asked them to...
12:48 AM, Sep 07, 2012
Hyderabad: Suspended judge K Lakshminarasimha Rao and others, who had mediated with the associates of former Karnataka minister Gali Janardhan Reddy to secure his bail, is learnt to have initially demanded Rs 500 crore from the mining baron. But the deal did not shape up as the then CBI special court judge B Nagamaruthi Sarma refused to grant bail. This was revealed by a chartered accountant-cum-realtor P Krishna Prasad in...
12:08 PM, Aug 29, 2012
