According to a recent research, it was found that housing sales in seven major Indian cities have decreased by nearly 40% last year. ANAROCK, a property consultant analysed that housing sales in Chennai, Mumbai Metropolitan Region (MMR), National Capital Region (NCR), Pune, Kolkata, Hyderabad and Bengaluru have declined to 40% last year compared to 2013 and 2014. According to ANAROCK, an average of 3.3 lakh units was sold in the years 2013 and 2014, but only 2,02,800 units were sold in 2017.
According to reports, about Rs 11,302 crore belonging to over three crore account holders is lying unclaimed with 64 banks, revealed a data from the Reserve Bank of India. Rs 1,262 crore, which is the largest amount from a single unclaimed holder is lying with the State Bank of India, Rs 1,250 crore with PNB. The other nationalised banks hold Rs 7,040 crore together.
Congress leader Rahul Gandhi took a dig at GST on Twitter and called it 'Gabbar Singh Tax' on Sunday. He referred to the World Bank records that stated that GST's structure is very complex and that its tax slabs are the world's second highest. GST, implemented by the BJP government on July 1, 2017 has four tax slabs (5%, 12%, 18%, 28%) while most of the other countries only have one or two. According to the World Bank, even though the multiple tax slabs will affect economic activity for some time, the benefits over the long run will overweigh the problems faced now.
Former Union Minister P Chidambaram's son, Karti Chidambaram has been sent to Delhi's Tihar jail till March 24 in a case of corruption in INX Media money laundering case. He has asked for separate room with separate toilet, spectacles, medicines and few toiletries. However, only spectacles and medicines were allowed currently.
Acting on the complaint made by one Satey Kumar, the manager of RBI’s Kanpur branch, case has been filed against a manager of the State Bank of India Muzaffarnagar branch for sending fake currency notes to the Reserve Bank of India last year. The accused reportedly sent fake notes of Rs 1,000 and Rs 500 to the central bank.
After the GST council meeting, the GST council has reportedly decided to follow the existing system to fill GST returns for the next three months. The council has also announced that the tax exemption for exporters has been extended by six months. Dates for roll out of e-way bill have also been announced. "E-way bill will be implemented from April 1 for inter-state movement of goods," Finance Minister Arun Jaitley reportedly said after the meeting.
After filing bankruptcy, Aircel is reportedly trying strategic financing with investors. The telecom company is also in talks with Bharti Airtel and Reliance Jio for intra-circle roaming pacts. The Chennai-based operator filed bankruptcy in Delhi after several attempts to settle down financial disputes with lenders.
The government of the United States reportedly denied to confirm the presence of the designer diamond jeweler Nirav Modi. The State Department spokesperson reportedly said, “We are aware of recent media reports that Nirav Modi is in the United States but cannot confirm them." Nirav Modi has been accused in the case of Rs 11,400 crore scam in Punjab National Bank.
After the Delhi Court extended the police custody of Karti Chidambaram, it has reportedly been revealed that the Central Bureau of Investigation will be questioning the former Union Minister and Karti Chidambaram’s father P Chidambaram too in connection with the INX Media bribery case. Notably, Indrani and Peter Mukerjea on Thursday reportedly issued a statement saying that they transferred Rs 7 lakh to Karti Chidambaram on P Chidambaram’s advice.
The Enforcement Directorate on Thursday reportedly seized properties worth Rs 1,200 crore for the case of money laundering in the Punjab National Bank scam. The probe was against Gitanjali Gems and its promoter Mehul Choksi who is Nirav Modi’s uncle. As many as 41 properties including farmhouses, luxury bungalow were seized.
In what looks like an unexpected twist, the directors of INX Media Limited - Indrani and Peter Mukerjea have reportedly alleged that they were instructed by P Chidambaram to pay Rs 7 lakh to Karti Chidambaram. The 46-year-old Karti Chidambaram was arrested on Wednesday in connection with CBI’s probe in the INX Media case.
According to reports, Rajya Sabha MP P Chidambaram’s son, Karthik Chidambaram, who has been arrested in connection with the INX media money laundering case, will be in police custody for a day. However, CBI had earlier requested for 15 day police custody, which was rejected by the duty magistrate Sumeet Anand.
One of the auditors of Punjab National Bank has reportedly been arrested in the case of Rs 11,400 crore scam. With the recent arrest, the total number of bank employees arreted has gone up to seven. Meanwhile, the designer diamond jeweler Nirav Modi has reportedly refused to join the CBI probe.
According to reports, the Enforcement Directorate arrested R Subramanian - the promoter of 'Subhiksha' group - on Wednesday in an alleged Rs 77 crore bank fraud case. The grocery and drug retail chain was shut down in 2009. A case has been filed against the promoter.
Nirav Modi, who has been accused in an alleged Rs 11,400 crore scam in Punjab National Bank, has reportedly denied to join the probe that is being conducted by the Central Bureau of Investigation. After CBI sent an email to the designer diamond jeweler to cooperate an investigation, he reportedly denied to join saying that he has ‘Business abroad’. However, CBI has sent him another mail asking him to contact the High Commission of the concerned country and that his travel will be arranged by CBI. He is currently staying in Caribbean island St Kitts and Nevis.
According to a report from Asia Times, sensitive information of Punjab National Bank's (PNB) customers have been offered for sale on a website for nearly three months. Due to this, at least 10,000 credit card and debit card owners are to be affected. Allegedly, PNB was tipped off by Singapore-based company called, CloudSek Information Security. This comes in as a second blow for PNB following the alleged huge scam led by Nirav Modi.
Food delivery app Swiggy has rolled out ‘Swiggy Schedule’ where delivery charges are waived off if orders are placed a minimum of two hours and maximum of 48 hours in advance. Reports also added that the orders can be cancelled on the app itself anytime before it is to arrive. This feature is currently available in Hyderabad and Chennai and will be rolled out in other cities as well by March.
According to a Times of India report, telecom major Aircel might file for bankruptcy soon and has asked its employees to brace for difficult times ahead. As if coming as a premonition, angry customers gheroed employees in Chennai and other offices, citing poor connectivity issues. Meanwhile, some contrasting reports also emerged saying that Aircel CEO Kaizad Heerjee has written an email to the employees saying that closure of services was false and also tweeted saying that customers will be intimated in advance if such a thing was to happen. As of now, the company has been brushing off the connectivity issues as a minor technical snag.
According to reports, the top executive, Vipul Ambani who is handling finances of the designer diamond firm Nirav Modi and four other officials were arrested by the Central Bureau of Investigation on Tuesday. After questioning the officials throughout the day, the arrest has been made.
According to reports, Nirav Modi denied to repay the debt to Punjab National Bank saying that the bank went public for the unpaid debts. He has allegedly written a letter to the bank saying that he has taken a loan of less than Rs 5,000 crore and not what the bank has mentioned in its complaint.