HYDERABAD, INDIA: Comandur Parthasarathy, Chairman and Managing Director of Karvy Stock Broking Limited (KSBL), is set to be questioned in police custody after being arrested by the Law Enforcement Directorate (ED) on Sunday in connection with a bank fraud case. The alleged accused was placed in the agency’s custody for five days. Prathasarathy is currently …

Kolkata: The World Bank has approved a $125 million (about Rs 1,000 crore) loan to Bengal to expand coverage of about 400 state-run social schemes, especially direct cash transfers to sections vulnerable over the next four years.The Bank said a recent survey found that while food and in-kind transfers reached most poor and vulnerable households …

Kolkata: The World Bank has approved a $125m (about Rs 1,000 crore) loan to the government of West Bengal for inclusive social protection in what appears to be a major acknowledgment of Chief Minister Mamata Banerjee’s social pension schemes for groups vulnerable in society. On Saturday, the state government said: “The foresight of the Honorable …

Here is your daily news update. Click on the links below for the full story or visit our homepage for the latest news. Daily News January 22 Mafe was inside Parliament for more than a day – report Parliament arson accused Zandile Mafe is said to have spent at least 30 hours inside the parliament …

People who currently receive Universal Credit and State Pension are warned about new payment bans introduced by some banks. Some lenders are refusing to give mortgages to benefit recipients because they won’t allow them to use their Universal Credit or state pension money, Manchester Evening News reports. This means they face limited choice and may …

The promoter and managing director of a Hyderabad-based company has been arrested under the anti-money laundering law in connection with a bank loan fraud of Rs 402 crore, where a consortium of public sector banks allegedly been cheated, the Enforcement Branch (ED) said Tuesday. Avasarala Venkateswara Rao of Servomax India Private Limited (SIPL) was arrested …

The promoter and managing director of a Hyderabad-based company has been arrested under the anti-money laundering law in connection with a bank loan fraud of Rs 402 crore, where a consortium of public sector banks allegedly been cheated, the Enforcement Branch (ED) said Tuesday. Avasarala Venkateswara Rao of Servomax India Private Limited …

Flames rise from a domestic gas ring of a furnace in Durham, Britain September 23, 2021. REUTERS/Lee Smith Join now for FREE unlimited access to Reuters.com Register LONDON, Jan 15 (Reuters) – The British government is considering plans to mitigate the sharp rise in energy costs that are expected to hit households in April, the …

Other stories emerged detailing the effects of tough new loan changes, including a woman who was asked about her social life, work and spending down to the dollar. Changes to the law on credit agreements and consumer credit came into force in early December, requiring banks to analyze the spending habits of applicants before approving …

When is the best time to apply for a bank loan for the purchase of a car? Here are some tips you should keep in mind. Do you have to take out a bank loan to buy a car? There are many sides to this question and many opinions. Ultimately, however, the decision is yours, …

HYDERABAD: The Central Bureau of Investigation has investigated two multi-crore bank loan fraud cases in Hyderabad and Prakasam district of Andhra Pradesh. The first case was registered against BK Threshers Private Ltd based in Prakasam district and others including its chairman, five directors, two other companies and unknown officials. CBI Visakhapatnam booked the case based …

As the Omicron variant of Covid-19 cases spreads across the country, a potential third wave of virus infection poses a risk to banks’ asset quality, particularly the restructured loan portfolio, the rating agency says. ICRA. “Banks restructured most loans (during the second wave of Covid-19) with a moratorium of up to 12 months. This book …

The loan portfolio of the country’s largest private lender, HDFC Bank, increased by 16.4% year-on-year (YOY) to Rs 12.6 trillion as of December 31, 2021 (Q3FY22) from 10, 82 trillion rupees a year ago. Sequentially, its advances increased by 5.1% from 11.98 billion rupees in September 2020 (Q2FY22). Commercial banks in India, …

The Law Enforcement (ED) Directorate said on Monday it had seized assets worth more than Rs 26 crore from a Vodadara-based company in a money laundering investigation linked to a alleged bank loan fraud of around Rs 2,654 crore. The properties provisionally seized under the Prevention of Money Laundering Act (PMLA) belong …

As a youngster who moved to Delhi from a small town, Vaasu always wanted to drive his own car. It has now been five years since he started working in Delhi. Promotional campaigns for cars always grab his attention and he thinks he should buy one soon. He gets Rs 50,000 as net salary after …

HYDERABAD: The Central Bureau of Investigation has taken action against Hyderabad-based Vijaya Aero Blocks Private Limited in connection with a 44.60 crore loan fraud. The company, which manufactures cement bricks, had taken out loans from the Bank of Baroda but failed to repay them. The CBI named promoters – Narra Kumar Prasanna, Chigurupati Ram Prasad, …

The Competition and Consumer Protection Commission (CCPC) will conduct a full phase two investigation to see if AIB’s planned € 4.2 billion deal to purchase the business and business loan portfolio of ‘Ulster Bank could significantly reduce competition. AIB announced an agreement with Ulster Bank and its parent company NatWest Holdings for the loan portfolio …

Bank lending rose 7.1% in November, above the 5.9% recorded in the same period a year ago, mainly thanks to better growth in loans to individuals, agriculture and MSMEs , according to the latest data on the sectoral deployment of bank lending published by the Reserve Bank of India Credit to agriculture and related activities …

Lai Mohammed, Minister of Information and Culture, listed 100 achievements of the Muhammadu Buhari administration in 2021. Addressing a press conference in Lagos on Thursday, Mohammed said that despite the challenges of 2021, the administration has made “huge” progress in tackling insecurity and growing the economy. He listed a $ 700 million (about 300 billion …

Bareilly: A 35-year-old man from Shahjahanpur reportedly committed suicide by hanging on Wednesday afternoon after learning that a fake account had been opened in his name in 2015 at a private bank and had been used to commit credit fraud worth almost Rs 1 crore. The bank officials reportedly forced him to deposit the money …

Congress asked why an administrator was not appointed for the Essel group. (To file) New Delhi: Congress alleged on Friday that there was a connection between the Center and its “corporate friends”, and questioned why no action had been taken against the promoters of Dish TV Essel Group, which had not reimbursed the loans to …

The ED said on Thursday it had seized assets worth Rs 100 crore from a ‘regular offender’, who took out new loans to repay old ones, and was being questioned for money laundering. money linked to alleged fraud against an IDBI branch in Andhra Pradesh. Rebba Satyanarayana’s farmlands, fish ponds, commercial sites, plots and apartments …

The federal government revealed that it had secured a $ 700 million loan from the World Bank for specific water supply projects across the country. Water Resources Minister Alhaji Suleiman Adamu made it known on Monday during a conversation with reporters on the sidelines of the ministry’s inaugural awards and recognition system awards ceremony in …

SEAT OF POWER The provincial government of Kalinga is temporarily prevented by a regional trial court from obtaining its 999 million pesos loan from the Land Bank of the Philippines intended to serve as an economic stimulus fund to revive the local economy stricken by COVID-19. —Provincial Government of Kalinga FACEBOOK PHOTO TABUK CITY — …

CHITWAN, DECEMBER 19 Chitwan Medical College University Hospital has organized a loan facility for service recipients who come for hair transplant surgery. Customers can pay for cosmetic treatments including hair transplant in installments. The hospital provided this disbursement facility in conjunction with Sunrise Bank Limited. Arrangements have been made to pay the fees in installments …

The World Bank Board has approved two loans worth $300 million (TL 5.3 billion) to support the development of renewable energy by harnessing deep underground heat sources under the project of geothermal development in Turkey, according to the bank. The loans provide additional funding for two initial loans worth $250 million. The new loans will …

CHITWAN, December 19: Chitwan Medical College University Hospital has set up a loan facility for service recipients who come for hair transplant surgery. Clients can pay for cosmetic treatment, including hair transplant, in installments. The hospital provided this disbursement facility in conjunction with Sunrise Bank Limited. Arrangements have been made to pay the fees in …

NEW DELHI: HDFC Bank, the country’s largest private sector lender, said on Friday its MSME ledger recorded 17% year-on-year growth to over Rs 13,000 crore at the end of September in the ‘Uttar Pradesh. As of September 30, 2021, the Micro, Small and Medium Enterprise (MSME) loan portfolio for Uttar Pradesh stood at Rs 13,154 …

Posted December 16, 2021 The board of directors of the Islamic Development Bank has approved a multi-year $ 98 million financial facility program for the promotion of bilingual education in Nigeria. This is contained in a statement issued by Mr. David Apeh, Public Relations and Protocol Officer, Commission on Universal Basic Education. The commission said …

Through Adewale Sanyaolu The seems to be a palpable fear among the 10 Electricity Distribution Companies (Discos) about what will become of their fate in the coming weeks. The development may be no stranger to the takeover of Abuja Electricity Distribution Company (AEDC) last week for failing to meet its loan obligation to its lender, …

According to the UK Parliament’s Public Accounts Committee report on Greensill published in November, checks from the British Business Bank to approve the company as a lender under the government’s COVID-19 support package were “woefully inadequate”. This lack of scrutiny, curiosity and skepticism could end up costing taxpayers £335m (US$445m), MPs say. When the pandemic …

Calcutta: The International Bank for Reconstruction and Development (IBRD) approved a $ 135 million loan to West Bengal to improve operational efficiency and reliability of electricity supply in parts of the state. IBRD and its concessional lending arm, the International Development Association (IDA), are also collectively referred to as the World Bank. The variable spread …

WASHINGTON, November 29, 2021—The World Bank’s Board of Directors has approved a $135 million loan to the Indian state of West Bengal to improve operational efficiency and reliability of electricity supply in parts of the state. West Bengal is strategically located along the corridor to the northeast and to southeast Asia and plays an important …

As a banker and SME advocate, I am always asked how to secure bank credit. For an entrepreneur, bank loans represent a versatile source of financing for the business. It can be short-term or long-term, fixed or variable, demand or fixed-term, guaranteed or unsecured. It can be adapted to your needs. Obtaining it, however, poses …

The Minister of Science and Technology, Ogbonnaya Onu, explained why the federal government obtained 72 million dollars from the World Bank for the 36 states to develop their land information system. Speaking at the annual Geoinformation Society of Nigeria conference held in Lagos, the minister said the gesture is to strengthen the collection of internally …

Through Express news service THRISSUR: The Criminal Branch team investigating the Rs 100 crore loan scam to the Karuvannur Cooperative Service Bank has arrested accused Pallath Kiran of Kollengode in Palakkad. It is alleged that Kiran, 31, from Perinjanam in Thrissur, received a loan of around Rs 22 crore through Benami accounts although he was …

Former Chief Justice Surendra Kumar Sinha was the primary beneficiary of illegal loans approved for him in violation of Farmers Bank’s credit policy, a Dhaka court observed in its verdict yesterday. The court sentenced Sinha to seven years in prison for money laundering and an additional four years for breach of trust to be served …

PARIS (Reuters) – French conglomerate Bouygues has said that when its € 7.1 billion ($ 8.2 billion) deal to buy technical services group Equans from Engie is finalized, Equans will become its largest segment activity in terms of turnover and staff. The merger between Equans and the Energies & Services branch of Bouygues will create …

ECONOMYNEXT – Sri Lanka has signed a loan of $ 500 million from the World Bank to improve 3,000 kilometers of rural and provincial roads, the finance ministry said. As part of the Connectivity and Inclusive Development Project (ICDP), which will be implemented by the Road Development Authority (RDA) under the supervision of the Ministry …

Kogi State Commissioner for Finance, Budget and Economic Planning Asiwaju Asiru Idris told the House of Assembly that the state had never had a fixed account at Sterling Bank, like the claims the Economic and Financial Crimes Commission (EFCC). He provided the clarification on Tuesday following the invitation by some state government officials to brief …

Credit and Finance for MSMEs: Total gross bank credit of Rs 13.20 lakh crore deployed to the MSME sector in September 2021 accounted for 12.04% of India’s overall gross bank credit of Rs 109.56 lakh crore. Credit and financing for MSMEs: After two months of positive growth in the deployment of gross bank credit year-on-year …

A farmer in Alampur under the Gazole police station in Malda is said to have tried to commit suicide by consuming pesticides in front of the director of a nationalized bank last afternoon after being “pressured” to repay 2 lakh Rs that he had borrowed from the bank. According to Pratap Chandra Ghosh, he was …

British Prime Minister Boris Johnson is reportedly set to announce his country will guarantee a $ 1 billion World Bank loan to India for green infrastructure, sources say. spoken with Reuters. Several sources familiar with the matter confirmed the plans to Reuters on Monday. The announcement will likely be made during the 2021 United Nations …

A Delhi court on Saturday dismissed the bail application filed by Avantha group promoter Gautam Thapar in the Yes Bank loan fraud case. Special Judge Sanjeev Aggarwal has denied Thapar bail after reserving the order last week. The Court had sent Thapar into custody following the filing of a petition on behalf of the Directorate …

Construction specialist Lamprell signed a $ 45 million revolving commercial credit facility to cover the costs of constructing two IMI jack-up platforms. Lamprell said it secured funding for the continued construction of these two platforms earlier this month. He added that he had signed a $ 45 million revolving commercial loan facility with First Abu …

Ukrainian prosecutors open terrorist financing investigation after it emerged that the country’s state-owned export-import bank had loaned tens of millions of dollars to companies owned by a businessman with interest in parts of eastern Ukraine controlled by Moscow-backed separatists. The Attorney General’s Office told the Ukrainian service of RFE / RL on Oct. 27 that …