Cobrapost

DHFL Chairman Kapil Wadhawan may step down from active management after the stake sale

MCA takes action on Cobrapost's DHFL report, visits 10 companies to check authenticity

The report refers to documents filed with the Ministry of Corporate Affairs and other documents available in public domain, yet there is a need for a verification of the issues raised in the report.

Editors' body urges EC to inquire into Cobrapost's 'sting'

Gupta said it is considered appropriate that the EC may take stock of situation and get the matter investigated thoroughly to ascertain the truth and take future necessary action as may be required.

Cobrapost exposes 11 MPs willing to lobby foreign oil major

In its latest undercover investigation, codenamed operation Falcon Claw, investigative website Cobrapost has exposed a bunch of parliamentarians who are willing to not only write recommendation letters but also lobby with the Union Ministry of Petroleum for a foreign company to help it secure oil exploration and rigging rights in the Northeast.

IT cos minting on online smear campaign task: Cobrapost

Cobrapost says its undercover operation, codenamed Operation Blue Virus, has uncovered about two dozen IT companies across the country enganged in running a shady business of online reputation management.

RBI warns banks to strictly follow KYC norms or face action

Concerned over violation of anti-money laundering norms by banks, the RBI on Friday warned them to meticulously follow its instructions with regard to walk-in customers while selling insurance, mutual fund, gold and other products above Rs 50,000 or face action.

RBI revises bank KYC guidelines, advises new set of norms

The Reserve Bank of India (RBI) on Monday issued the master circular revising certain guidelines related to bank Know Your Customer (KYC) policy. It suggested to create Unique Customers Identification Code (UCIC) while bringing changes in new account opening process.

SEBI, RBI needs to use teeth given to them by law: Takru

It is necessary that we act before the pot boils over that is more important and we would probably put something in place which would lead to proactive action, says Baking Secretary, Rajiv Takru.

More banks can help improve customer service: RBI deputy

Reserve Bank Deputy Governor K C Chakrabarty said customer service in the banking industry will be better if more banks come in as it will drive competition.

Some truth in Cobrapost expose, will take action: Subbarao

RBI admits that there is some truth in Cobrapost's allegations of wrong doings by banks.

Evening Capsule: 10 things that made headlines in biz world

Here are the key events which made headlines today:

SBI, Kotak Bank among 30 violating KYC norms: RBI report

An RBI study discovered KYC and AML violations in thematic study of 30 banks.

Cobrapost expose: I-T issues notices to ICICI, Axis, HDFC banks

ICICI Bank, Axis Bank and HDFC Banks have been issued notices in connection with alleged money laundering charges levelled by online portal Cobrapost.

Cobrapost: What worries & why incentive culture be revised?

Cobrapost expose on alleged money laundering cases has no doubt brought many things to public notice. However, there is a need to delve deep into reading beyond investigation reports. Incentive culture is one key reason behind it, says a RBI official.

Cobrapost: RBI cracks down on violations, may hike penalty

CNBC-TV18‘s Aakansha Sethi reports that the Reserve Bank is set to crack down on violations with finance ministry regarding Cobraposta and may hike the penalty for the erring banks

Checking money laundering Govt‘s responsibility: Subbarao

Reserve Bank Governor D Subbarao says it is the responsibility of the government and tax authorities to check money laundering activities.

Will finish internal inquiries on Cobrapost next month: SBI

A Krishna Kumar, MD of State Bank of India says the country‘s largest public sector bank has started an investigative audit on the allegations of wrongdoing levied by online portal Cobrapost. Kumar expects to complete the internal inquires by next month.

Cobrapost 2: FinMin calls for action, banks to investigate

The second round of Cobrapost sting operation evoked immediate responses across the spectrum. Rajiv Takru secretary at the Department of Financial Services asked all state owned banks and the Life Insurance Corporation (LIC) of India to initiate actions. Banks /institutions have started internal investigation.

See 6000 as strong resistance for May; be heedful: Experts

Nifty, which had rallied close to 500 points in the run-up to the credit policy, is seen trading in a wide range of 5500 to 6000 in May, experts said.

Evening wrap: Top stories that made news today

Evening wrap: Top stories that made news today

Why Cobrapost expose was a non-event for bank stocks

The shrill Cobrapost bite, this time mostly on large state-owned banks and insurance companies, failed to upset the market confidence on banking shares. The latest sting operation turned out to be a non-event that did not lead to panic-selling by investors on Monday. Bank Nifty was flat to close the day's trading at 12,396.

Nifty ends above 5950; shrugs off Cobrapost, weak PMI data

Key equity benchmarks ended in green led by buying in metal and IT stocks. Indian shares consolidated for most part of the day in the absence of major economic data announcements this week. Asian shares surged across the board on stronger than expected US non farm payroll data.

BSE Sensex up 100; metal, IT stocks up; Bank Nifty rebounds

Indian shares surged in the afternoon trade led by recovery in banking stocks despite Cobrapost naming major private and PSU banks in its press conference on Monday.

Better KYC norm compliance needed: RBI on Cobrapost sting

The RBI today said that its probe into their activities revealed the banks did not follow KYC norms while selling third party products.