Treasury

  • CBI dismisses Lalu's petition for quashing fodder scam case July 1, 2014

    A special CBI court on Tuesday dismissed fodder scam convict Lalu Prasad's petition pleading that he should not be tried for the case after being convicted in the same offence earlier. The court of AK Rai dismissed the petition seeking to quash RC64A/96 pertaining to fraudulent withdrawal of Rs 96 lakh...
  • Fodder scam convict Jagdish Sharma released on bail January 14, 2014

    Disqualified JD(U) MP Jagdish Sharma, who was convicted in a fodder scam case, was released on Monday from jail on bail. "He was released around 3 pm after getting bail documents," a senior jail official said. Sharma, who was convicted and sentenced to four years imprisonment by a special CBI court...
  • India's policy on foreign banks soon, says Raghuram Rajan October 13, 2013

    The Reserve Bank of India (RBI) will soon come out with new rules for the entry of foreign banks that may even allow them to take over Indian banks, RBI Governor Raghuram Rajan has said. "That is going to be a big big opening because one could even contemplate taking over...
  • Fodder scam: Chronology of Chaibasa treasury case in which Lalu was convicted September 30, 2013

    New Delhi: RJD supremo Lalu Prasad and 44 others has been convicted by a special Central Bureau of India (CBI) court in Ranchi in one of the cases - RC 20 A/96 - of the multi-crore fodder scam. Lalu has been convicted of corruption, criminal conspiracy and cheating and the...
  • Obama to contribute 5 pc of his salary to US Treasury April 4, 2013

    Washington: At a time when the US is facing economic strain and automatic budgetary cuts is in place, President Barack Obama will return five per cent of his salary amounting to $20,000 to the Department of Treasury. The salary of the US President is $400,000 per annum (over Rs 2...
  • US imposes new sanctions on North Korean bank March 12, 2013

    New York: The US Treasury has imposed sanctions against North Korea's Foreign Trade Bank, the country's main foreign exchange institution, for its role in supporting Pyongyang's nuclear weapons program, President Barack Obama's national security adviser said. In a speech to the Asia Society in New York, the White House aide, Tom...
  • US kills idea of $1 trillion platinum coins January 14, 2013

    Washington: So much for the $1 trillion platinum coin idea. The US Treasury Department said on Saturday it will not produce platinum coins as a way of generating $1 trillion in revenue and avoiding a battle in Congress over raising the US debt ceiling. The idea of creating $1 trillion by...
  • India's reform measures very significant: US Treasury Secy October 9, 2012

    New Delhi: India's recent reform measures are "very significant" and will fuel private investment in the economy, US Treasury Secretary Timothy Geithner said during a visit to New Delhi on Tuesday. India has announced a series of measures, including raising the price of subsidised fuel and opening the retail sector to...
  • Obama proposes minimum taxes on foreign earnings February 23, 2012

    Washington: US President Barack Obama has proposed to establish a new minimum tax on foreign earnings while repealing benefits for outsourcing jobs overseas and providing new incentives for bringing jobs back home. The proposed move would make it a bit tough for US multinationals to ship jobs overseas and will...
  • Fodder scam: CBI court summons Lalu, Mishra February 13, 2012

    Ranchi: A special Central Bureau of Investigation (CBI) court on Monday summoned two of former Bihar chief ministers - Lalu Yadav and Jagannath Mishra - in connection with the fodder scam case. The two are likely to appear before a Ranchi court on Monday to record their statements regarding the...
  • India faces $41 billion exposure to US debt August 7, 2011

    New Delhi: As one of the 15-largest foreign creditors to the US, India's exposure to the United States' ballooning debts is estimated at $41 billion, higher than the money America owes to countries like France and Australia. The overall national debt of the US is moving nearer to $15 trillion, out...
  • US likely to lose top rating, economists say July 28, 2011

    Washington: The United States will lose its top-notch AAA credit rating from at least one major rating agency, according to a Reuters poll that also found wrangling over the debt ceiling has already damaged the economy. A small majority of economists, 30 out of 53 surveyed over the past two days...
  • Obama increases pressure on Republicans on debt July 12, 2011

    Washington: US President Barack Obama on Monday increased pressure on Republican lawmakers to make concessions for a deal to avoid an Aug. 2 debt default and said both sides must "pull off the Band-aid" and make sacrifices. "If not now, when?" Obama said. The president met with top US lawmakers for the...
  • India needs new reforms for growth: US June 28, 2011

    Washington: As inflation hits double digits - here's a warning coming from US Treasury Secretary Timothy Geithner. Geithner says India has outgrown its financial system and needs reforms to be able to continue with fast-paced growth. Observing that India and the US are at the threshold of unlocking the great potential...
  • Watch: Delhi Belly - the uncensored trailer June 8, 2011

    Tashi, Arup and Nitin – flatmates, buddies and partners in crime. Tashi is to get married in a month but still doesn't know if his fiance is 'the one!' Arup can't make up his mind who he wants to kill first – his girlfriend who has just dumped him or...
  • US inflation hits 2.5 year high, seen peaking May 14, 2011

    Washington: Gasoline and food prices hoisted US inflation to a 2.5 year high in April, but there was little sign of a broader pick-up in consumer prices that would trouble the Federal Reserve. The pace of food and fuel price rises slowed considerably from March, suggesting inflation pressures may be peaking....
  • US economy showing signs of recovery, says US Secy March 26, 2009

    New Delhi: With the Barack Obama administration working overtime to tackle the financial crisis, is the United States’ economy showing incipient signs of a turnaround? Wednesday’s economic data bore evidence of that to some small measure. New-home sales rose 4.7 pc to a 337,000 annual rate in February, much higher than expected....
  • Obama's Treasury Secretary | Indian American as advisor November 7, 2008

    President-elect Barack Obama has to put the US economy on the roll again. He is carefully choosing his team to help him execute the job. Having chosen Democrat Congressman Rahm Emanuel his chief of staff, he will take a call on other postings on Saturday and the days to come....
  • Obama charts moves, set to pick Treasury Secretary November 7, 2008

    Washington: The president-elect of the USA, Barack Obama has already begun the transition process by naming Democrat Congressman Rahm Emanuel as his chief of staff. Obama may himself keep a low profile he was in Chicago, at the FBI's office for his first top-secret intelligence briefing. "I'm going to have lunch. You...
  • Indian American to oversee $700-bn US bailout plan October 7, 2008

    Washington: As the global market plunged, US Treasury Secretary on Monday designated an Indian American to head the key Office of Financial Stability, the bureau that will oversee the $ 700-bn bailout package. Treasury Secretary Paulson designated Neel Kashkari, an Indian American with roots in Jammu and Kashmir, as the Interim...
  • Tough sell as US Fed tries marketing the big bailout September 24, 2008

    Washington: It was a dramatic day for lawmakers on Capitol Hill, as they debated the massive Wall Street bailout plan. The US Treasury Secretary and Federal Reserve Chairman desperately tried to convince the US Congress to quickly approve the plan, or risk economic disaster. It was the first public grilling...
  • Chief Justice orders probe against judges in PF scam July 18, 2008

    New Delhi: Months after a provident fund scam involving judges of the Supreme Court, High Courts and district courts was uncovered in Ghaziabad, the Chief Justice of India has given a go ahead for an investigation. Judges are no longer holy cows as 36 judges of the Supreme Court, High Courts...