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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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Money laundering allegations over fraudulent marriage-assistance disbursements prompted investigation into false credentials and ineligible beneficiary payments.
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September 4, 2026
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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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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.
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Income Tax

Insurers Surpass Targets for Rural Areas in 2010-11

August 23, 2012

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Press Information Bureau

Government of India

Ministry of Finance

23-August-2012 17:02 IST

The Insurance Regulatory and Development Authority (IRDA) has reported that it has mandated regulations for both life and non-life insurers and fixed targets for insurers business in “Rural Areas”. There is no such mandated regulation for Semi-Urban Areas. The authority takes regulatory action for non-compliance of the Insurance Regulatory and Development Authority (Obligations of Insurers to Rural or Social Sectors) Regulations, 2002 and amended from time to time, by the State-owned insurers in the rural sector. As per the regulations, the target for exclusive business in rural area fixed for State-owned life and non-life insurers is 25% of the total number of policies and 7% of gross premium income written direct in that year, respectively.

The performance of the State-owned life insurer in the rural area was 32.74% against target of 25% of the total number of policies whereas for non-life insurers, it was 10.15 % against target of 7% of gross direct premium income for the financial year 2010-11.

This was stated by the Minister of State for Finance, Shri Namo Narain Meena in written reply to a question in the Rajya Sabha today.

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