Reserve Bank governor Shaktikanta Das on Thursday said the forensic audit report on the scam-hit PMC Bank is expected by the month-end, and efforts are also on to assess the realisable value of assets held by the cooperative that can be monetised. The RBI has also given its suggestions on changes in regulations that are required for regulating the cooperative bank sector better. It can be noted that the RBI had on September 23 placed the city-headquartered bank under an administrator and capped the cash withdrawals, leading to public outrage. The curbs have since been lifted in multiple changes. "There is a forensic audit underway. We will get the report by the end of this month. Assessment of the realisable value of the assets of the bank is also on," Das told reporters after the announcement of the monetary policy. He said professional valuers are helping in valuation of PMC assets. Separately, there is a coordination mechanism in place consisting of the RBI-appointed … [Read more...] about Forensic audit on PMC scam expected by month-end: Shaktikanta Das
Audit group policy changes
Email ABC Radio Adelaide By Malcolm Sutton Posted December 18, 2018 11:35:34 Sorry, this video has expired Video: Students walk out of school to rally for action on climate change (Photo - ABC News: Andie Noonan) (ABC News) Related Story: Fact check: Are carbon emissions coming down in Australia? Related Story: A brief history of seven killings, or how climate policy keeps sinking PMs Related Story: 'I've seen smarter cabinets at Ikea': Striking students rally for climate Related Story: Kids are skipping school today to go to a climate change protest — should you let them? Related Story: Young climate protesters thwarted by security at Shorten's office Map: Australia Mass protests of the scale held during the Vietnam War are just around the corner for people concerned about climate change, environmentalists have warned, as a growing number of activists turn their attention to those who fund fossil fuel industries. Key points:Climate inaction protests and … [Read more...] about Intensifying climate change protests ‘could rival Vietnam War activism’
The Reserve Bank of India (RBI) on Thursday surprised the money market participants, who were anticipating a 15—25 basis points cut in key policy rates, and held the policy rates in its monetary policy review. The banking regulator paused, after five straight previous cuts, and kept its key policy rate, the repo rate -- the rate at which it lends to banks-- unchanged at 5.15%. That might sound like a status-quo policy, but considering the surprise element that comes with it, does this warrant any change in your mutual fund investment strategy? Mahendra Jajoo, Head-fixed income, Mirae Asset, says, “We were expecting 0- 25-bps rate cut. However, I believe that rate cut has done its part now.” Jajoo says what is needed right now is a spending and income plan from the government. “If the RBI does not come with a plan in the near future, the market will be disappointed,” he adds. According to money market participants, several factors might have influenced … [Read more...] about RBI policy surprise: Should you change your mutual fund strategy?
Popular dating apps like Tinder, OkCupid and PlentyofFish which are owned by Match Group have one major problem. These dating apps have registered sex offenders crawling with no policy or screening for such users. Match Group has also acknowledged that there are registered sex offenders on its dating apps. A 16-month investigation carried out by ProPublica and Columbia Journalism Investigations discovered that these dating apps leave users at risk of getting involved with convicted and accused sex offenders. Match Group has a total of 45 dating platforms under its wing with Tinder being the most popular one. The investigation saw over 150 incidents during the last five years on these dating apps. The results showed most victims were women who met with male sex offenders primarily on Tinder, OkCupid, PlentyofFish and Match. The investigation results also showed that in 10% of the incidents, users matched with people who had a record of at least one … [Read more...] about Tinder, OkCupid dating apps have registered sex offenders with no screening policy
There is a lot of money waiting to be invested in India, particularly the resources of long-term pension funds and insurance companies, Ashok Wadhwa, CEO of Ambit Group, tells Saikat Das and Baiju Kalesh. These funds would go into long-term infra projects, roads, ports, or airports – in short, assets offering long-term yields. Separately, Wadhwa said that the Insolvency and Bankruptcy Code (IBC) is the most important piece of legislation introduced in the last five years and it has created the fear of failure among promoters on meeting obligations.Edited excerpts: What is your narrative for the financial markets (stocks, bonds, rupee) with respect to the general elections? This election is likely to give us a relatively stable government. And as long as we have political stability, I believe that we will see the start of a new bull run. It is difficult at this point of time to predict where the stocks, bonds, rupee etc. would go. But I remain positive and bullish on the fact … [Read more...] about I am positive that we’ll see a mid-cap rally post elections: Ashok Wadhwa, Ambit group