Bank loan fraud: ED attaches assets worth Rs 42 cr of Kolkata-based company

The Enforcement Directorate (ED) on Monday said assets worth over Rs 42 crore of a Kolkata-based company have been attached in connection with a money laundering probe related to an alleged bank fraud case. A provisional order has been issued to attach 11 properties of Shree Mahalaxmi Corporation Pvt Ltd under the Prevention of Money … Read more

RBI may launch digital currency pilot next year, says new report

The Reserve Bank of India’s digital currency may see its pilot launch in the first quarter of the next financial year, a senior central bank official said at the State Bank of India’s Banking and Economic Conference, according to a local newspaper report. Business Standard newspaper quoted P. Vasudevan, Chief General Manager, Department of Payments … Read more

Goldman downgrades Indian equities, ’22 . saw strong growth in

MUMBAI: Goldman Sachs has reduced market-weighted Indian equities within its sectoral allocation after the country’s stock benchmark surged over 30% in 2021. The fall by Goldman comes after recent rating cuts by foreign brokerages including Morgan Stanley, UBS and Nomura, citing costly valuations of India. “…the risk-reward for Indian equities is less favorable at current … Read more