-The Times of India NEW DELHI: An investigation by the Reserve Bank of India (RBI) into allegations of money laundering by private banks has found large-scale violations ranging from huge cash deposits without PAN to dummy numbers. The probe report, a copy of which is available with TOI, shows that three private players - HDFC Bank, ICICI Bank and Axis Bank - had also hugely suppressed alerts generated by their system on...
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Haves and have-nots, chained by loss-Sanjay Mandal
-The Telegraph Bengal - Defrauded Many households in Calcutta have a domestic help or a driver who has lost money by investing in Saradha schemes - a common thread that has spun a perception that the poor are the sole victims of the sham company. But Sudipta Sen's promise of high returns had blurred the divide between the haves and the have-nots as well as the educated and the uneducated. Travels across the semi-urban...
More »Chit fund scam: Sudipta Sen breaks down as Debjani Mukherjee sings
-The Indian Express Saradha group CMD Sudipta Sen and executive director Debjani Mukherjee were questioned together for the first time by police today. Sen broke down in front of the interrogators when Mukherjee blamed him for the company going bust, police sources said. Mukherjee, who has been "cooperating" with the police since she was arrested, is likely to become an approver. Officials earlier said that Mukherjee could become approver only after the police...
More »Left leaders meet PM, FM, seek CBI probe in chit fund scam
-PTI NEW DELHI: Leaders of Left parties today met the Prime Minister and the Finance Minister and sought a CBI probe into the ponzi scam in West Bengal and stringent measures to tackle fraudulent money pooling activities. The Left parties have been demanding a CBI probe alleging that the Mamata Banerjee government was opposed to such an investigation as it would reveal links of her party with the prime movers of the...
More »Banks under fire for Saradha mess -Srikumar Bondyopadhyay
-The Times of India KOLKATA: It's not only Cobrapost that seems to be stinging public sector banks. State-owned banks have come under fire and are accused of being hand-in-glove with willful defaulters like Ponzi kingpin Sudipta Sen. In a 25-page statement that the CBI deems a confession, Sen has detailed how he acquired Global Automobiles, a company with a bank debt of Rs 186 crore. Formed in 2005, the company's owner Shantanu...
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