The Delhi High Court has recently issued notice to the Centre in a petition seeking action against financial institutions, individuals/Group of companies and erring persons/officials/officers/public servants in relation to institutionalized corruption in the banking sector.
In a shocking development, online fraudsters are offering easy loans and using forceful ways to humiliate customers so that they cough up the cash borrowed, leading many to commit suicide in desperation.
In late 2017, the common people of India were suddenly shocked to find that there was a distinct possibility that all their deposits in banks, especially public sector banks, could suddenly be locked out of their reach, consumed by the bank itself, if the bank fails or even flounders.
Tata Sons has put a spanner in Cyrus Mistry’s attempt to pledge some Tata shares to raise money to urgently repay some outstanding debt. Mistry is a prominent holder of Tata stocks through his family company Shapoorji Pallonji (SP).