Articles about Department of Financial Services

Apple Card issuer accused of conducting sexist credit checks

10 Nov 2019

Business
Apple Card issuer accused of conducting sexist credit checks

In a major shocker, Goldman Sachs, the issuer of Apple card and a leading multinational bank, has been accused of gender discrimination.

Bureaucratic rejig at Center: Alka Tiwari appointed new CVC Secretary

01 Jul 2018

India
Bureaucratic rejig at Center: Alka Tiwari appointed new CVC Secretary

IAS officer Alka Tiwari has been named the Secretary of anti-corruption watchdog Central Vigilance Commission (CVC) as part of a major senior-level bureaucratic reshuffle effected by the central government.

Passport details made mandatory for Rs. 50cr+ loans

10 Mar 2018

Business
Passport details made mandatory for Rs. 50cr+ loans

Following several high profile cases of economic offenders leaving the country, the government has made it mandatory for borrowers looking for loans above Rs. 50cr to submit their passport details to banks.

US orders Pakistan's largest private bank to close NY operations

08 Sep 2017

World
US orders Pakistan's largest private bank to close NY operations

After functioning for 40 years, the New York branch of Pakistan's Habib Bank has been ordered shut by US regulators after repeated warnings on possible terror funding and money laundering.

Kolkata woman finds Rs.60 lakh in Jan Dhan account

13 Dec 2016

Business
Kolkata woman finds Rs.60 lakh in Jan Dhan account

A woman from a low-income locality in Kolkata found Rs.60 lakh in her Jan Dhan account after officials from the Enforcement Directorate knocked on her door to investigate the money.

Demonetization led to misuse of Jan Dhan accounts: IT dept

08 Dec 2016

Business
Demonetization led to misuse of Jan Dhan accounts: IT dept

The Enforcement Directorate has received tip offs from the IT department about huge sums of unaccounted money being deposited in shell companies and Jan Dhan accounts.

Inconsistencies found in Jan Dhan accounts

04 Dec 2016

Business
Inconsistencies found in Jan Dhan accounts

The Central Board of Direct Taxes stated that it has found several inconsistencies in the sudden deposits of cash in Jan Dhan accounts.

Jan Dhan account withdrawals capped at Rs.10,000/month

30 Nov 2016

Business
Jan Dhan account withdrawals capped at Rs.10,000/month

As a temporary measure, the RBI has capped the withdrawal limit on Jan Dhan accounts to Rs.10,000 a month.

Maoists use Jan Dhan accounts to launder money

24 Nov 2016

Business
Maoists use Jan Dhan accounts to launder money

The Income Tax department is conducting an investigation after it emerged that the Tritiya Prastuti Committee, a banned organization in Jharkhand, was using villagers' Jan Dhan accounts to launder Rs.10 crore.

Rs.21,000 crore deposited in Jan Dhan accounts

24 Nov 2016

Business
Rs.21,000 crore deposited in Jan Dhan accounts

According to Finance-Ministry sources, West Bengal has reported maximum deposits in the Jan Dhan accounts after demonetization.

Black money finding way into inactive dormant accounts

12 Nov 2016

Business
Black money finding way into inactive dormant accounts

The Jan Dhan Yojana accounts that were lying dormant so far suddenly saw a flush of funds.

What made news last week?

19 Sep 2016

India
What made news last week?

The Cauvery-water dispute turned violent, leading to clashes in Tamil Nadu and Karnataka.

Jaitley: Banks looking into Jan Dhan accounts

17 Sep 2016

Business
Jaitley: Banks looking into Jan Dhan accounts

Finance Minister Arun Jaitley has stated that four PSU banks have been asked to look into allegations of depositing Rs.1 into empty accounts to keep the number of zero-balance accounts low.

Banks cutting Jan Dhan accounts with the One-Rupee trick

13 Sep 2016

Business
Banks cutting Jan Dhan accounts with the One-Rupee trick

A report by Indian Express revealed that bank officials were quietly depositing Rs.1 from their pockets to erase zero-balance accounts and embellish data.