THE Reserve Bank of India (RBI) has decided to accept NREGS job cards or Aadhar letter as official documents for opening accounts in rural cooperative banks for persons covered under the scheme. This will enable the job card holders or the workers to keep their money is safe custody. An RBI communique to the state and district cooperative banks has said that the accounts can be opened with certain conditions attached as...
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Centre informs Supreme Court of the high level committee to probe black money cases by J Venkatesan
The Centre on Monday informed the Supreme Court that it had constituted a high level committee comprising the heads of various probe agencies and specialised departments under the aegis of the Department of Revenue to monitor the investigation of all aspects relating to black money. Solicitor General Gopal Subramaniam told a Bench of Justice B. Sudershan Reddy and Justice S.S. Nijjar that the 10-member committee, headed by the Revenue Secretary, would...
More »Hasan net widens to Puducherry LG, Maya secy by Pradeep Thakur
Investigation in the Hasan Ali case has reached a crucial stage with the Enforcement Directorate (ED) deciding to question Puducherry lieutenant governor Iqbal Singh and UP chief minister Mayawati's principal secretary Vijay Shankar Pandey in the $8 billion money-laundering probe. While summons were issued to Iqbal Singh on Friday, ED is likely to issue notice to Pandey in the next few days asking him to appear for questioning, sources said. Faced with...
More »Moneylaundering watchdog to track all realty deals by Deepshikha Sikarwar
All real estate transactions will have to be reported to the country's anti- moneylaundering agency once the government amends a key law that seeks to curb black-money transactions. The government plans to amend the Prevention of Money Laundering Act , which will require property registrars to file data of transactions recorded by them with the Financial Intelligence Unit, or FIU, a finance ministry official said. "The scope of the (Prevention...
More »Koda & Co. property worth Rs 300cr by Pheroze L Vincent
Enforcement Directorate has begun attaching Madhu Koda and his friends’ properties, mostly flats and land in Bihar, Jharkhand and Maharashtra, valued at over Rs 300 crore. Armed with an April 6 approval order from the adjudicating authority for cases under the Prevention of Money Laundering Act (PMLA), the directorate is sticking to the higher valuation even though 2007 revenue department assessments pegged the properties’ worth at around Rs 130 crore. “This is...
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