Husband cannot use wife's debit card, says court
Bank > Debit card > June 06
A casual act of letting your spouse or a close relative/friend withdraw money from an ATM using your debit card could prove costly. This is what a Benglauru woman on maternity leave recently learnt, albeit the hard way. Banking rules categorically state that an ATM card is non-transferable and no other person apart from the account holder should use it.
Canara Bank fined in UK for anti-money laundering breaches
Bank > Canara Bank > June 06
Britain's markets regulator has fined the UK division of India's Canara Bank 896,100 pounds ($1.2 million) and blocked it from accepting new deposits for around five months for systemic anti-money laundering (AML) failures.
Air India sexual harassment case: Maneka asks for internal probe to be concluded in a month
India > Air India > June 04
The Minister for Women and Child Development Maneka Gandhi has asked Air India to conclude its internal inquiry into an allegation of sexual harassment against a senior executive by the end of the month.
SEBI bars Mallya from capital market for 3 years
India > SEBI > June 06
The Securities and Exchange Board of India (SEBI) has barred Vijay Mallya from the securities market for three years for alleged illegal fund diversion from United Spirits.
Rs 1 crore reward for informants on benami schemes: Govt
India > benami schemes > June 01
The government announced a scheme for informants of benami transactions under which an individual can get a reward of up to ₹1 crore for providing information to the tax authorities. “Under the Benami Transactions Informants Reward Scheme 2018, a person can get reward [of] up to ₹1 crore for giving specific information in prescribed manner to the Joint or Additional Commissioners of Benami Prohibition Unit (BPU) in Investigation Directorates of Income Tax Department about benami transactions and properties as well as proceeds from such properties which are actionable under Benami Property Transactions Act, 1988, as amended by Benami Transactions (Prohibition) Amendment Act, 2016,” the government said in a release.
Citizenship Bill may have to wait for House nod
India > Citizenship Bill > June 01
The Citizenship (Amendment) Bill, 2016, is unlikely to be tabled in the monsoon session of Parliament as the Joint Parliamentary Committee (JPC) that is examining the legislation intends to have wider consultations, its chairperson said.