-The Times of India Investigative website Cobrapost has released further secret tapes to show alleged money laundering by more banks. In the third part of its tapes, Cobrapost claimed that it has recorded officials of Bank of India, Central Bank of India, Bank of Maharashtra, Allahabad Bank and Bank of Baroda, all major public sector banks, as well as IndusInd Bank, ING Vysya Bank, HDFC Bank , ICICI Bank and Axis Bank,...
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Action Against Banks if Guilty: RBI on Cobrapost Sting
-Outlook Reserve Bank of India (RBI) today said it has completed investigations against banks following the Cobrapost expose and will take action if they are found guilty of violating prudential banking norms. "We have done investigations, we have prepared an internal report. There are processes to be followed to take investigations to its logical closure... "The first is action against individual institutions who are involved in practises which are not consistent with the...
More »Operation Red Spider Part 2
-Cobrapost.com Part 1 of Operation Red Spider was just the tip of the iceberg! Cobrapost's Continuing Shocking Expose: Twenty-Three Major Indian Banks, Both Public and Private, and Insurance Companies, are Running a Nation-Wide Money Laundering Racket, Blatantly Violating the Laws of the Land. And the culprits being exposed this time are: Life Insurance Corporation, State Bank of India, Bank of Baroda, Punjab National Bank, Canara Bank, Indian Bank, IDBI Bank, Yes Bank, Federal Bank,...
More »Power of RTI-Ashutosh Shukla
-DNA Dharmenddra Pawar, 35, could regain his mental balance only after he saw his answer paper procured through an RTI. For, only then he saw the examiners' apathy and not the failure of his hard work that led to absolute distress and him repeating the year. "I could not understand that in the first attempt I scored 27 marks and 0 in the second when I had put in more effort," said...
More »Regulators are sometimes too close to industry: Hari Narayan-Deepti Bhaskaran
-Live Mint Former Irda chief spells out the problems with regulating the insurance sector in an interview Regulators are sometimes not too keen on laying down the law because they may be too close to the industry that they are charged with making sure is complying with rules, said J. Hari Narayan, who stepped down on Wednesday as chairman of the Insurance Regulatory and Development Authority (Irda). “There is a lot going on...
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