'Nearly half the economy is not running'



‘Now, look at the management of the economy. There could be a bad situation, but you must know how to manage it. We had bad situations in 1997…2008. We had a difficult situation in 2013, but they were managed… In the current year, that is 2019-20, you promised a nominal GDP growth of 12 per cent. The year ended with about 8.5 per cent. ‘You promised a fiscal deficit of 3.3 per cent; the year will end, according to the Budget document, at 3.8 per cent, but, even that has a big question mark around it. Revenue deficit, you promised 2.3 per cent, the year will end with 2.4 per cent.’ In his speech in the Rajya Sabha during a debate on the Union Budget on February 10, 2020, former finance minister P Chidambaram tore into the government.



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Ex-Maruti MD Jagdish Khattar booked in fraud case



In its FIR filed recently, the CBI has named Khattar and his company Carnation Auto India Limited for allegedly causing a loss of Rs 110 crore to Punjab National Bank.



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Kochhar's termination case: HC seeks RBI's reply



Chanda Kochhar, the high-profile ex-banker had on November 30 moved the Bombay high court challenging “termination” of her employment by ICICI Bank which also denied her remuneration and clawed back all the bonuses and stock options between April 2009 and March 2018 for her alleged role in granting out of turn loans worth Rs 3,250 crore to the Videocon Group which benefitted her husband Deepak Kochhar. A division Bench of justices Ranjit More and SP Tavade allowed her to implead RBI and directed the apex bank to file its reply by December 16.



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Kochhar keen to make RBI party in ICICI Bank case



Kochhar’s counsel argued that according to Section 35B (b) of the Banking Regulation Act, prior approval of the RBI is required to terminate the contract of a bank’s chairman or managing director. But in this case, the RBI approval came after the termination letter was served.



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Interpol issues notice for Nirav Modi's brother Nehal



They said the global arrest warrant against the Belgian national Nehal, 40, has been issued on charges of alleged money laundering that is being probed by the Enforcement Directorate.



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CCD brings in ex-CBI boss to probe Siddhartha's letter



The assignment was earlier given to global audit firm EY. But it has now been reassigned owing to ‘certain conflict of interest’, the Bengaluru-based company said.



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