Finance Minister Arun Jaitley slams regulators’ failure to detect PNB fraud

Finance Minister Arun Jaitley today slammed regulators for failing to detect the Rs 11,400-crore fraud at Punjab National Bank for seven long years, saying unlike politicians, regulators in the Indian system are unaccountable. Speaking on the scam for the second time this week, he said employees conniving with fraudsters is worrisome. Also worrisome is that […]

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SC directs I-T dept to transcribe Radia tapes’ conversation

The Supreme Court on Thursday directed the income tax (IT) department, which had intercepted 5,800 telephone conversations of corporate lobbyist Nira Radia, to get them transcribed within two months for a proper probe as some of them concern national security. The court was annoyed that in such a “serious matter” the I-T department has not […]

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Black money: Apex court seeks details on government steps

After being criticized by the Supreme Court and the Opposition for its handling of black money deposited by industrialists and others in foreign bank accounts, Finance Minister Pranab Mukherjee on Tuesday said the government has nothing to hide, and added that India cannot violate secrecy laws to reveal names in the Swiss trail. “No information […]

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