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About 63 results for "foreign exchange department"

PNB fraud: How bank auditors failed to detect the scam

PNB fraud: How bank auditors failed to detect the scam

The problem here is that internal auditors are good at accounts, but they are not trained to track foreign exchange transactions Illustration: Dominic Xavier/ Auditors are facing questions over how the fraud at Punjab National Bank (PNB) went on for six years and how they failed to detect it.   The process seems foolproof. A branch such as Mumbai’s Brady House, which is a corporate-focused one, is headed by a branch manager who holds the rank of an assistant general ..., 2 months ago

1 images for "foreign exchange department"

Money Control, 4 months ago

8.29 pc increase in foreign exchange earnings from tourist arrivals

Thiruvananthapuram: The Kerala government today said foreign exchange earnings from tourist arrivals in the state stood at Rs 8,392.11 crore in 2017, a growth of 8.29 per cent when compared to the figures of the previous year. Foreign tourist arrivals ...
 Mathrubhumi2 months ago Rise in domestic, foreign tourist arrivals in Kerala  Prokerala2 months ago

US fines BNP Paribas USD 90 mn for price fixing in forex

BNP Paribas pleaded guilty to conspiring to fix the foreign exchange market and agreed to pay a USD 90 million criminal fine to settle the case, the US Justice Department announced Friday.The big French bank worked to fix prices of the currencies of Central ...
 Business Standard2 months ago

US Treasury Department adds India on its watch list

The United States Treasury Department has added India to the currency practices and macroeconomic policies monitoring list, citing an increase in the foreign exchange of the country in the first three quarters of the year 2017.
 DNA1 week ago US adds India in currency monitoring list along with China  Sify1 week ago US adds India to currency watch list  Rediff.com1 week ago

North Korea's Kim Jong Un met China's Xi Jinping on first foreign trip

North Korean leader Kim Jong Un was treated to a lavish welcome by Chinese President Xi Jinping during a secretive trip to Beijing as both sides seek to salvage frayed ties ahead of landmark summits with Seoul and Washington. On his first trip abroad since ...
 Deccan Herald4 weeks ago 'Good chance that Kim Jong Un will do what is right,' tweets Donald Trump ahead of crucial meet  DNA4 weeks ago

PNB fraud favouring Nirav Modi started in 2008, arrested bank officials tell CBI

New Delhi: The practice of illegally issuing Letters of Understanding (LoUs) and Foreign Letter of Credits (FLCs) and then rolling them over to favour Nirav Modi and Mehul Choksi groups started in 2008 and continued till these were discovered in January this ...
 Sify2 months ago PNB Scam: CBI books two more bank officials  Sify1 month ago PNB fraud put at close to USD 2 billion  Deccan Herald1 month ago PNB fraud is now pegged at Rs 12,717 crore  Rediff.com1 month ago

Foreign Secretary may improve India-China ties

'Vijay Gokhale's appointment as foreign secretary can be regarded as a certain 'adjustment' that could make a difference to the poor climate of India-China relations,' says Ambassdor M K Bhadrakumar. IMAGE: Vijay Gokhale, the outgoing Indian ambassador to China, pays a farewell call on Chinese Foreign Minister Wang Yi, October 21, 2017. Photograph: Kind courtesy Ministry of Foreign Affairs, Republic of China The Indian media failed to take note that the Chinese foreign ministry Web site ...
 Rediff.com2 months ago
MSN India

Why the US has added India to its currency watch list

Learning from the US's 'taper tantrum' in 2013, it is only fair for RBI to be mindful of the need to increase forex reserves to guard against sudden outflows. Photo: Pradeep Gaur/Mint
 MSN India1 week ago

2 years back, RBI found no 'quid pro quo' in ICICI loans to Videocon: RBI docs

The Reserve Bank of India had two years back conducted a detailed scrutiny to probe allegations of impropriety in ICICI Bank extending loans to Videocon Group but found no proof of any "quid pro quo" or reciprocal benefits, according to RBI documents. The RBI had undertaken a scrutiny in mid-2016 after the Prime Minister's Office referred to it allegations of ICICI Bank CEO Chanda Kochhar's husband, Deepak reaping windfall gains from his association with businessman Venugopal Dhoot, whose ...
 Rediff.com1 week ago

3 Indians sentenced to 517-year jail term in fraud case in UAE

Two Indian men and a woman have been sentenced to 517 years each in jail by a Dubai court for swindling thousands of people in a multi-million-dollar fraud case, the UAE media reported. Sydney Lemos, from Mapusa in north Goa, was the chief executive of Exential, a forex trading company in Dubai Media City. Investors lost over USD 200 million when Exential failed to pay out after promising 120 per cent returns on a USD 25,000 (Dirham 91,800) investment.   The accused -- Lemos, his wife ...
 Rediff.com2 weeks ago
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