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    September 4, 2026
    ED arrests ex-panchayat CEO who allotted govt funds for fake marriages during COVID lockdown
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September 4, 2026
ED arrests ex-panchayat CEO who allotted govt funds for fake marriages during COVID lockdown
Show AI Summary
Money laundering allegations over fraudulent marriage-assistance disbursements prompted investigation into false credentials and ineligible beneficiary payments.
Alleged money laundering arose from fraudulent disbursement of marriage-assistance funds intended for daughters of registered construction workers. The allegations include approvals and releases for suspicious marriage cases, use of bank accounts opened or misused on false credentials, multiple cash withdrawals, and extension of benefits to ineligible persons. Investigation under the Prevention of Money Laundering Act followed an economic-offences FIR concerning suspected misuse of the welfare scheme.
September 4, 2026
Goyal blames market conditions for Jet Airways' downfall; ED says he 'bled airline to death'
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Money-laundering proceedings arising from alleged bank fraud concern claims that loans advanced to an airline were siphoned off. The discharge application attributes the airline's financial collapse to adverse macroeconomic conditions rather than fraudulent conduct or laundering, denies diversion through General Sales Agents, and maintains that related payments were board-approved and disclosed. It also contests the treatment of the bank's outstanding claim as funds received by the founder, while the investigating agency alleges systemic fraud, loan diversion and laundering.
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Show AI Summary
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Foreign exchange market conditions supported the rupee's appreciation by 8 paise to 94.43 against the US dollar, aided by positive domestic equity markets, improved risk appetite, foreign capital inflows and foreign institutional buying. Reserve Bank of India intervention was also cited as support. Elevated crude oil prices, safe-haven dollar demand and United States-Iran tensions were identified as factors limiting further gains. India's foreign exchange reserves increased to a new all-time high during the relevant reporting week.
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Offer-for-sale IPO clearance enables existing exchange shareholders to monetise holdings, while sale proceeds remain outside the exchange.
Regulatory clearance permits the National Stock Exchange to proceed with an initial public offering structured wholly as an offer for sale by existing shareholders. The proposed issue does not raise fresh capital, and sale proceeds will accrue to the selling shareholders rather than the exchange. Revised offer documents were required after addition of a selling shareholder, triggering a fresh public-feedback period. The offering follows settlement of co-location and dark-fibre matters and governance and compliance measures addressing regulatory concerns.
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Show AI Summary
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Dr. Krishnamurthy Subramanian is new Member of Finance Commission’s Advisory Council

May 3, 2019

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The Chief Economic Advisor, Government of India, Dr. Krishnamurthy Subramanian had been included as Member of the Advisory Council of  the Fifteenth Finance Commission.

It may be recalled that on 16th April, 2018 the Fifteenth Finance Commission had constituted an Advisory Council with the following Members:

  1. Dr. D.K. Srivastava.
  2. Dr. Indira Rajaraman.
  3. Dr. Arvind Virmani.
  4. Dr. Surjit S. Bhalla.
  5. Dr. Sanjeev gupta.
  6. Prof. Pinaki Chakraborty.
  7. Shri Sajjid Chinoy.
  8. Shri Neelkanth Mishra.
  9. Dr. Prachi Mishra.
  10. Dr. M. Govinda Rao.
  11. Dr. Omkar Goswami.

Dr. Krishnamurthy Subramanian will be the twelfth Member of the Council.

The role and function of the Council is to:

  • To advise the Commission n any issue or subject related to the Terms of Reference (ToR) of the Commission, which may be of relevance.
  • To assist in the preparation of any paper or research study which would enhance the Commission’s understanding on the issue contained in its ToR: and
  • To help in broadening the Commission’s ambit and understanding to seek best national and international practices on matters pertaining to fiscal devolution and improving the quality and reach and enforcement of its recommendations.

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Acts Income Tax
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