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Bank fraud: No fetters on CBI, please!

Northlines Uttam Gupta Even as the Government is making all efforts to ensure that the Gross Domestic Product (GDP) after witnessing 8 per cent contraction during 2020-21 returns to a high growth trajectory, it is concerned about the tepid recovery in credit availability which is considered to be the sine qua non of growth. According to the latest data by the Reserve Bank of India (RBI), the annual non-food bank credit growth in January this year was at 5.7 per cent compared to 8.5 per cent in the same period last year. Credit to industry, however, contracted by 1.3 per cent in January 2021 as compared to 2.5 per cent growth in January 2020.

Prison Excesses: Where Exactly The CC TV Cameras Installed? Why The Life Of CC TV Footages Confines To Four Days Only? SC Seeks Affidavit From Tihar Jail Authorities, Ministry

The Supreme Court has directed the Jail Superintendent, Tihar Jail to file an affidavit disclosing where exactly the CCTV cameras have been installed and whether the Control Room and the boundary wall.

Empower SFIO with sufficient teeth to exclusively investigate complex corporate frauds, says Parliamentary Panel

Empower SFIO with ‘sufficient teeth’ to exclusively investigate complex corporate frauds, says Parliamentary Panel March 17, 2021 Jayant Sinha   -  The Hindu× The Standing Committee on Finance headed by Jayant Sinha has recommended that Serious Fraud Investigation Office (SFIO) may be armed with sufficient teeth to exclusively investigate and prosecute cases relating to complex corporate frauds that have huge impact on the economy and various stakeholders. While recognising that the SFIO functions within the purview of the Companies Act, the Parliamentary Panel has, however, found that SFIO’s initial objective of single handedly tackling complex corporate frauds remains a fry cry with multiple law enforcement agencies conducting investigations into the same financial crime resulting in prolonged litigation.

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