PNB, Corp Bank most aggressive in going after big debtors; SBI, BoB more relaxed

Punjab National Bank, the third largest public sector bank in India, and smaller cousin Corporation Bank can teach bigger siblings like State Bank of India and Bank of Baroda a thing or two about going after big loan defaulters, an analysis of Reserve Bank of India data shows. In the last four years, these two banks […]

‘Nirbhaya scheme’ for women’s transport security at standstill

A well-publicized scheme for ensuring security for women in public road transport unveiled in the wake of the brutal ‘Nirbhaya’ rape and murder of in December 2012 seems to have ground to a halt in the absence of political will. According to the ministry of road transport and highways, only Rs 1.43 cr was spent on the ‘Security […]

Police Custody Deaths: Bihar safest, Maharashtra most dangerous

A total of 308 people died in police custody in the three years from 2013 to 2015 — including 75 in Maharashtra — but not a single policeman was convicted in any case related to custody deaths in the country during those years, data from the home ministry showed. On an overall level, Maharashtra led in […]

Narada sting operation probe handed over to CBI

The Calcutta High Court has handed over the investigation into the sting operation conducted by ‘Narada News’ to the Central Bureau of Investigation. The agency has been told to complete a preliminary investigation within 72 hours. The move follows complaints that the state police faced a conflict of interest in investigating the tapes, which purportedly […]

Bank robberies increased in J&K, Haryana after demonetization: RBI data

The demonetization of high-value currency notes saw a rise in the number of bank robberies towards the end of 2016, but all of the increase came from just three states — Jammu & Kashmir, Bihar and Haryana. Overall, cases of theft, robbery and loot of on bank properties increased by 11% in the last three months […]

PayTM hit by Rs 6.15 lakh fraud

PayTM, India’s largest wallet company, has been cheated to the extent over Rs 6.15 lakh by 48 customers claiming illegal refunds for goods they already received. A case has been registered with the Central Bureau of Investigation, which is currently looking into the matter. Besides PayTM, others such as Freecharge and MobiKwik are also present […]

DON’T BE A VICTIM: UID Chief urges people to write purpose on Aadhaar copies

The head of the Unique Identity Authority of India has urged the public to write down the purpose and date when they submit photocopies of their Aaadhar cards to exchange currency notes to prevent misuse. “Photocopies of the Aadhaar letter are being submitted by the general public to banks. We urge them to clearly indicate […]

Enforcement Directorate moves to attach FTIL’s Rs 1065 cr Demat assets

63 moons technologies ltd, formerly known as Financial Technologies, said it received a provisional attachment order from the Directorate of Enforcement, Mumbai, attaching securities amounting to face value of Rs 1,065 crore in its demat account. In India, shares and securities are held electronically in a dematerialized (or “Demat”) account, instead of the investor taking […]

Enforcement Directorate freezes Demat accounts of FTIL

63 moons technologies ltd, formerly known as Financial Technologies, said the Directorate of Enforcement, Mumbai has requested the National Securities Depository Ltd. and Central Depository Services (India) Ltd to freeze the Demat Account of the company maintained with them. In India, shares and securities are held electronically in a dematerialized (or “Demat”) account, instead of […]

Flipkart warns users about fake offers ahead of Big Billion Day Sale 2016

Flipkart, one of India’s top online shopping sites, has warned users not to click on suspicious links or otherwise give credence to purported offers from the website seen on social media platforms. “With the Flipkart Big Billion Days just round the corner, a host of fake offers and discounts are being offered on various fraudulent […]

Enforcement Directorate moves to attach FTIL’s Rs 306.70 cr mutual fund assets

63 moons technologies ltd, formerly known as Financial Technologies said it received a provisional attachment order from the Directorate of Enforcement, Mumbai, attaching mutual funds amounting to Rs 306.70 crores. The company is taking appropriate steps in consultation with the legal counsel of the company in this matter, it said. The move comes a day […]

Cyber crime up four-fold in three years in India – report

In India, there has been a surge of approximately 350% in cybercrime cases registered under the Information Technology (IT) Act, 2000 from the year of 2011 to 2014, a ASSOCHAM-PwC joint study said. The Indian Computer Emergency Response Team (CERT-In) has also reported a surge in the number of incidents handled by it, with close […]

Muthoot Finance warns against scamsters and frauds

Muthoot Finance, one of India’s leading gold loan companies, has cautioned people against paying money to so-called agents in return for loan approvals. “In a recent instance, an unidentified organisation has fraudulently attempted to lure customers/investors, through the platform of Muthoot Finance, by sending bogus loan approval letters to unsuspecting people,” the company said. To […]

The hotspot of communal violence in India is not where you think it is

Incidents of communal violence increased this year compared to 2014, according to numbers from the Home Ministry. Adjusted for population, Karnataka saw the highest level of such incidents, while Madhya Pradesh showed the highest growth over 2014. Total number of such incidents are on track for a 15-20% jump in 2015 compared to last year, […]