-TheWire.in Several people who worked in the industry say demonetisation and the GST crippled their business. Jaipur: However much the Bhartiya Janta Party (BJP) may wish to overlook the impact of demonetisation and the Goods and Services Tax on the unorganised GeMs and jewellery sector in Rajasthan, the workers and households who bore the brunt of the twin economic policies are resolute in their decision to vote the BJP out of power. The...
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Explained: How 100 frauds hit banks -Rahul Tripathi
-The Indian Express CVC report analyses 100 major frauds on public sector banks, committed by borrowers from 13 sectors. Among them, an aviation firm that got loans based on its brand name in spite of a poor credit rating; and jewellers who allegedly inflated value of diamonds and submitted fake details on debtors. New Delhi: The Central Vigilance Commission (CVC) recently came out with a report that analyses the top 100 bank...
More »120 crore Aadhaar Records Breached in First Half of 2018:: GeMalto
-Moneylife.in During the first half of 2018, there were 945 data breaches leading to 4.5 billion (450 crore) data records being compromised. According to the Breach Level Index of digital security firm GeMalto, India's Aadhaar witnessed 1.2 billion (120 crore) data breaches in March, making it the second highest breaches across the world after Facebook. During the first half of 2018, there were 945 data breaches leading to 4.5 billion (450 crore)...
More »As labour-intensive sectors take a hit, exports dip in March
-The Hindu Business Line Trade deficit widens as imports rise; exporters worried about future New Delhi: A fall in exports of GeMs & jewellery, petroleum products, readymade garments and farm products pulled down India’s overall exports (year-on-year) by a marginal 0.6 per cent to $29.11 billion in March 2018. Exporters are worried as several of the sectors that have taken a hit are labour-intensive, which they say is due to liquidity problems. Exports, however,...
More »PNB lost four times more money than SBI did to 'jewel thieves' -Chethan Kumar
-The Times of India BENGALURU: Highly cash-dependent traders in GeMs and diamonds have cost banks at least Rs 5,000 crore through 90 defaults, bank-wise and company-wise data on wilful defaulters compiled by the Federation of Bank of India Staff Unions (FBISU) shows. The top loser is PNB, with just nine defaulters but a loss of Rs 1,790 crore — four times the amount SBI lost. SBI reported the most number of wilful defaults...
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