-The Indian Express The RTI documents also show that over the 12 phases, just four cities accounted for 83 per cent of all electoral bonds by value. Electoral bonds with denomination of Rs 1 crore accounted for more than 91 per cent of the Rs 5,896 crore raised in the first eleven of the total twelve phases over which bonds were sold by select branches of the State Bank of India. ...
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Customers mull legal action to revoke RBI order on PMC Bank, access funds
-The Hindu Business Line Mumbai: Thousands of distraught customers of Punjab and Maharashtra Cooperative Bank gathered at the bank’s branches in Mumbai for a second day on Wednesday to protest against the Reserve Bank of India’s direction to impose restrictions on withdrawal amounts. Some of them said they would initiate legal action. “I had saved up for my daughter’s marriage in December, but my money is now stuck,” said Harshit Rane, a customer....
More »Jagdeep S Chhokar, one of the founders and trustees of Association for Democratic Reforms, interviewed by Ajaz Ashraf (CaravanMagazine.in)
-CaravanMagazine.in India is often hailed for its democracy, for empowering its poor and ordinary citizens to participate in the electoral process and play a role in shaping the country. This narrative has increasingly come under strain since the Supreme Court, through its March 2003 judgment in Union of India vs Association for Democratic Reforms, made it mandatory for candidates contesting elections to disclose their wealth, educational qualification, and criminal cases pending...
More »SBI sold electoral bonds worth Rs 3,622 crore in March and April: RTI
-PTI NEW DELHI: The State Bank of India has sold electoral bonds worth over Rs 3,622 crore in March and April this year, an RTI response has said. In a response provided to Pune-based Vihar Durve, the SBI said electoral bonds of Rs 1,365.69 crore were sold in March, which shot up by 65.21 per cent in April to Rs 2,256.37 crore. In April, most electoral bonds were sold in Mumbai at Rs...
More »No Bank of Maharashtra loans for drought-hit farmers -Manojit Saha
-The Hindu Lender cites high bad loans for drastic move in two States; Marathwada, Vidarbha to be impacted Mumbai: In an unusual move, a state-run lender, Bank of Maharashtra, has decided not to extend loans in eight zones in Maharashtra and Madhya Pradesh that include Aurangabad, Latur, Akola, and Amravati, which are hit by drought. The bank cited high bad loans from agricultural advances in the branches of these zones for the decision....
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