When asked about the stock rout in an interview, Somanathan said there was no cause for concern for depositors, policyholders or investors in any nationalised banks or insurance companies.
PSBs saw year-on-year rise of nearly 50% in net profit in July-Sept quarter thanks to broad-based rise in loans. But MSME stress, pace of credit & deposit growth will determine future.
A forensic audit revealed several accused colluded together and committed illegal activities, including diversion of funds, misappropriation and criminal breach of trust between 2012 and 2017.
The searches were spread across Delhi, Jaipur, Dausa, Karauli, Sawai Madhopur, Alwar, Udaipur and Bhilwara, at the premises of around 15 former bank officials and others.
According to the FIR, SBI had constituted a committee for an audit of coins worth close to Rs 13 crore held by the bank. But coins worth Rs 11,62,11,275 were found missing.
Before social media, depiction of violence on news was the exception—graphic visuals were either not shown on TV or in newspapers or the images were blurred. This is no longer the case.
Neither state govts nor companies earn large profits from lotteries. However, a look at the system shows there’s ample evidence of murky dealings and financial irregularities.
The ‘idea’ Kejriwal's politics grew around was a no-holds-barred fight against corruption. That is the reason Modi govt has now tarred him and his entire party with the same paint.
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