ED arrests Deepak Kochhar for money laundering : Bulletin: Business Today
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ED arrests Deepak Kochhar for money laundering

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BusinessToday.In | September 8, 2020

ICICI Bank-Videocon case: ED arrests Deepak Kochhar on money laundering charges

The Enforcement Directorate has arrested Deepak Kochhar, husband of former ICICI Bank CEO Chanda Kochhar, over money laundering allegations in the ICICI Bank-Videocon case. Earlier yesterday, he was called for questioning at the ED office in Delhi. The probe agency is investigating alleged malpractices in sanctioning of loans worth Rs 1,875 crore by ICICI Bank to Venugopal Dhoot's Videocon Group in 2017

RBI, govt should work together for economic recovery: SBI research

Even as the economy sees negative impact of the coronavirus pandemic, a coordination between the Reserve Bank of India (RBI) and Ministry of Finance becomes significant, a report said. However, there has been a statistically insignificant negative correlation between the two in the 30-year period ended FY20, according to SBI's Ecowrap research report.

RBI releases KV Kamath panel report on resolution framework for COVID-19 impacted sectorsRBI has released recommendations by the KV Kamath committee on restructuring loans for borrowers from sectors hit hard by the coronavirus pandemic. The report listed specific financial parameters for 26 sectors, including auto, aviation, construction, hospitality, power, real estate and tourism, among others, that can be factored in by lenders while finalising resolution plan for borrowers. The recommendations have been broadly accepted, the central bank said in a statement on Monday.

Infosys, HCL, TCS employees availing EPF advances the most

The employees working with major IT companies have availed the maximum Employees' provident fund (EPF) advances under COVID-19 window.

The workforce of the likes of Tata Consultancy Services (TCS), HCL Technologies, and Infosys utlilised most of their EPF accumulations in the April-July period.

AAI to Adani: Take over Ahmedabad, Mangaluru, Lucknow airports by November

State-run Airports Authority of India (AAI) wants Adani Group to take control of three airports - Ahmedabad, Mangaluru and Lucknow - by November and the remaining three in the next six months. In one of the most aggressive bids in the sector, Adani Group had won the right to upgrade and operate six AAI-owned airports in late 2018 for 50 years. The six airports are Ahmedabad, Lucknow, Jaipur, Guwahati, Thiruvananthapuram and Mangaluru.

China's exports surge at fastest pace in nearly one and half years as economies reopen

China's exports rose for the third consecutive month in August, eclipsing an extended fall in imports, as more of its trading partners relaxed coronavirus lockdowns in a further boost to the recovery in the world's second-biggest economy. Exports in August rose a solid 9.5% from a year earlier, customs data showed on Monday, marking the strongest gain since March 2019.

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