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₹1,530-Crore Bank Fraud: Court Sends Ludhiana Industrialist Neeraj Saluja To Judicial Custody Till Nov 17!

Arpita SarkarNovember 7, 20220

After being in CBI custody for five days, Ludhiana-based industrialist Neeraj Saluja was sent to judicial custody till November 17 on Thursday. He was arrested for defrauding a consortium of banks of ₹1,530 crores. The CBI did not seek remand of Saluja, who was produced before the Mohali CBI court. The CBI arrested Saluja, director of Ludhiana-based SEL Textiles, for defrauding a consortium of 10 banks led by the Central Bank of India of Rs 1,530.99 crore. The CBI had on August 6, 2020 booked the yarn and cloth manufacturing firm with units in  Malout and Nawanshahr in Punjab, Nemrana in Rajasthan, and Hansi in Haryana along with its directors based on the bank's complaint. “Lookout circulars (LOCs) against the accused had been issued and during the investigation, the CBI had exa...

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Bank Fraud: Arrested Business Honcho Neeraj Saluja Lived Life King Size; Here’s What You Need To Know!

Arpita SarkarOctober 31, 20220

The CBI arrested businessman Neeraj Saluja in a ₹1500 crore fraud case. It has created an uproar in Ludhiana's business community. Hailing from a family which was a major player in the hosiery business, Saluja has always lived life 'king size' as his colleagues and those doing business with him over the years confessed that Saluja was fair in his dealings with them. The case and his subsequent arrest came as a shock to them. As most businessmen remained tight-lipped about the development, refusing to say anything on the record, Saluja took the family hosiery business to greater heights with his brother when he began trading with Russia in the mid-1990s. He set up an office in Moscow. He expanded spinning yarn and SEL textiles. He set up units in different parts of the state. After that,...

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Nobel Prize For Economics 2022: Its Relevance With Respect To India

Pooja YadavOctober 28, 20220

The American economists Ben Bernanke, Douglas W. Diamond, and Philip H. Dybvig have each been given the 2022 Nobel Prize in Economics. For their work on banking and financial crises, they received the Nobel Prize. The majority of the banking research that has been done has its roots in their works. They continue to utilize their study to highlight the value of banks in maintaining a healthy economy, the contribution of bank failures to the escalation of financial crises, and the necessity of fortifying institutions in the face of such crises. Their work has significantly influenced how financial crises are handled or can be avoided, as well as how the financial markets are governed. Bank solvency problems are less common than investor fear as the cause of bank runs. Depositors may rus...

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China waives off debt
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Debt-Trap Diplomacy: China Waives Off Debts Owed by 17 African Countries

Dr. Kankana DebnathAugust 29, 20220

China has officially announced that it will forgive 23 loans for 17 African nations. China waives off debts of the African nations, which are interest-free and had matured by the end of 2021. Chinese FM Wang Yi announced this at the Forum on China-Africa Cooperation. He has further pledged that China would continue to actively support and finance major infrastructure projects in Africa in agricultural and manufacturing sectors. China will aid towards expanding co-operation in emerging industries such as the digital economy, health, green and low-carbon sectors. Facts and figures of the debts China waives off debts in Botswana, Burundi, Rwanda, Cameroon, the Democratic Republic of Congo, Mozambique among the 23 countries. The total amount of waived off debt stands at least at US$113.8...

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Jio 5G Phone Will Be Launched In Partnership With Google Announces Mukesh Ambani!!

Gunjan ChaudharyAugust 29, 20220

The 45th Annual General Meeting (AGM 2022) of Reliance Industries Limited was held today. AGM 2022 began virtually at 2 pm. This Annual General Meeting of Reliance Industries is held every year in the month of August. In this AGM itself Jio was launched in 2016 and today Jio is the country's largest telecom company followed by more than 400 million users. In today's AGM too many big announcements have been made. Reliance AGM 2022 began with a keynote from Reliance Chairman Mukesh Ambani. The event was broadcast live on Jio's YouTube channel as well as on their social media handles. The Reliance company has announced partnerships with leading chipset makers Qualcomm, Intel, Samsung, Meta, Nokia, and Google. They says a cheaper 5G phone will be launched under the partnership of Google. ...

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Synthesis of Difference , The Confluence of Indo-Korean Art
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Synthesis Of Difference: The Confluence Of Indo-Korean Art Delhi’s Cultural Centre

Dr. Kankana DebnathAugust 19, 20220

The Korean Cultural Centre India unveiled ‘Synthesis of Difference’ which is an exhibition featuring the works of South Korean and Indian artists. This is an attempt to promote the art exchange between India and South Korea. It portrays the amalgamation of classic and modern ideas through new media art, paintings, animation etc. The opening ceremony of "Synthesis of Difference" took place in the presence of Chang Jae Bok, Ambassador of the Republic of Korea to India; Adwaita Gadanayak, Director General of National Gallery of Modern Art; Jaya Asokan, Director of India Art Fair, Mahinder Sehgal, Programme Director of Indian Council for Cultural Relations, and others. The India and South Korea will complete 50 years of diplomatic relations next year. This exhibition is held in order to stre...

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Kangana Ranaut Takes A Jibe At Boycott’ Lal Singh Chaddha’, Says, ‘Aamir Khan Its Mastermind’

Isha PoddarAugust 11, 20220

Kangana Ranaut has called the boycott of the film 'Lal Singh Chaddha' Aamir Khan's planning. There is a controversy on social media regarding Aamir Khan's film. #BoycottLaalsinghchaddha is trending on Twitter. People believe that this film should not be seen. Now Bollywood's Controversy Queen Kangana Ranaut has also reacted to this matter. Kangana has written a lengthy note on her Instagram story regarding the boycott of Aamir and Kareena Kapoor's film 'Lal Singh Chaddha'. Aamir Khan had given a controversial statement on intolerance a few years ago, referring to the same; Kangana has targeted the actor. Kangana wrote, "I think the negativity that is going on for the release of the upcoming film Laal Singh Chaddha is created by the mastermind Aamir Ji. No Hindi film has been able...

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ArticleBusinessCOVID-19India

Rural Economy: A Potential Sector Needs Urgent Revival

Pooja YadavAugust 8, 20220

The COVID pandemic has resulted in one of the worst financial conditions. Manufacturing units are closed up, demand has plummeted, and job losses are seen across the sectors. The Union Finance Ministry has estimated that GDP will shrink 4.5 percent within the current year. However, hope has arisen from rural India as the agriculture sector seems to possess been relatively less stricken by the pandemic and consequent lockdown. Rural India never really went into a severe lockdown and thus harvested, procurement and consumer activity have remained more or less identical. Thus while GDP will decline, a rate of growth of two.5 percent is projected for agriculture this yr. In 2019-20 agriculture grew by 4% due to record production of food grains supported by good rains and a recovery in price...

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Centre Ignores Inflation: A Dangerous Sign For Nation’s Future

Isha PoddarJune 24, 20220

The Reserve Bank of India (RBI) is in inflation pointing central bank. Legally, RBI needs to check on inflation. The central bank expects the economy to increase by 7.5%, less than the IMF estimate of 9%. Economic growth has suffered a lot and will suffer more because of the nascent recovery hit by the COVID-19 wave, both at the international levels. The expenditure that the government is making is not high enough to provide a massive boost to the economy. Private consumption, which holds the key to growth, also went below the pre-pandemic levels and showed no sign of improving. RBI is hopeful the government-invested capital will make a massive difference in the coming time. The previous experience does not support this hope or expectation. The central bank believes that the reta...

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BusinessIndiaLatest News

India Cuts Palm Oil Imports By 33%; Know Its Reason, Impact

Aditi priya singhJune 15, 20220

India has cut palm oil imports by 33.20% in May, taking the figure to 5,14,022 tons in May. However, during this period the import of RBD palm olein oil has been expanded. As per the industry body, Solvent Extractors Association (SEA), India is the world's biggest merchant(importer) of vegetable oil. India imported 7,69,602 tons of palm oil in May 2021. India's total vegetable oil imports declined to 10,05,547 tons in May this year from 12,13,142 tons a year prior. It Makes sense that India supplies around 50% of the absolute vegetable oil imports from palm oil. As per the SEA report, Indonesia removed the restriction on exports of palm oil products with specific circumstances on 23 May. Additionally, the tax on palm oil has decreased. In such a circumstance, it is normal that it...

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ArticleBusinessIndiaLatest NewsNewsTravelUncategorized

India Drops To 54th Place In Travel And Tourism Development: Experts

Arpita SarkarMay 26, 20220

India ranks lower in world tourism. India is now ranked 54th out of the top 116 countries in the World Economic Forum. Earlier in 2019, previously ranked 46th in India in the pre-COVID era. The International Economic Forum compiled a list of 116 countries judging by the progress of a country in tourism. Experts have shown a glimmer of hope even though India has dropped eight steps in that list. According to them, tourism in the whole world was affected due to the Covid situation. Indian tourism has shown little sign of turning away from that place. But, despite the declining number of Indian tourists in the world, India is still at the top among the South Asian countries. The name of the list is 'Travel and Tourism Development Index 2021'. According to the Economic Forum, the ...

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Climate Change Likely To Raise India’s Hunger Risk By 22.69% Till 2030: Study

Sonia SolankiMay 23, 20220

The latest study reveals that the risk of hunger will rise by 2030 in India. The main factors attributed are climate change and low crop production says International Food Policy Institute study. The Global Food Policy 2022 report estimates that without climate change India will have 7.39 crore people suffering from hunger. But as the experts suggest that with climate change the numbers will touch 9.06 crores. A rise of 22.69% in hunger risk. Hunger: Bitter Truth Of Millennial India At present India is ranked at 101 positions in 116 countries as per the Global Hunger Index (GHI) Report 2022. India slipped from 94th position to 101 and is now trailing behind Pakistan, Bangladesh, and Nepal in GHI. The International Food Policy report also focuses on the issue that climate change...

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