Department Financial News

Rajasthan police's special operations group (SOG) for allegedly issuing fake and backdated degrees for courses that the private institution did not have accreditation for. SOG is examining all 43,409 degrees issued since the university's inception in 2013, reported ToI. As per the report, the university under scrunity issued backdated degrees for BEd and BPEd (physical education) programmes before receiving accreditation and awarded MSc agriculture degrees without proper authorisation, said SOG sources to ToI. In the case of issuing fake desgrees, a probe began six days after the arrest of the university's founder-owner, Joginder Singh Dalal, for his alleged role in the scam. SOG's inquiry into paper leaks and malpractices in college entrance and govt exams led to Dalal.

Vast swathes of Indonesia’s old-growth forests are left undeveloped for years after they're felled

SIM cards under your name can get you in trouble. You may have to pay a huge penalty if you have taken more SIM cards than what is specified by the telecom law. Violating the rule repeatedly can also land you in jail. It is important to know about the latest rules on how many SIM cards you can take and how to check them online. Read on

Silvergate Capital Corp., former CEO Alan Lane and former chief risk officer Kathleen Fraher, were charged by the Securities and Exchange Commission with misleading investors about the strength of its bank secrecy act and AML compliance programme and the monitoring of crypto customers. In addition, the company and former executives were charged with misleading investors about the company’s losses from expected securities sales following the collapse of FTX. Silvergate and Martino misrepresented the company’s bleak financial condition during a liquidity crisis and bank run following FTX’s collapse, alleges the SEC.

Sophisticated overseas criminals are stealing tens of billions of dollars from Americans every year, a crime wave projected to get worse as the U.S. population ages and technology makes it easier to successfully perpetrate fraud

Up to two additional offshore wind projects are being proposed for the New Jersey coast, and the developers of a third project that already has preliminary approval want to re-bid its terms

New Treasury rulemaking would expand the U.S. Committee on Foreign Investment in the United States’ jurisdiction to review land sales near 56 additional military sites, bringing the overall number to 227

affordable for the consumer. A panel formed to address regulatory challenges with regard to nutraceuticals is looking at ways to regulate their prices, people in the know told ET. At present nutraceuticals come under the ambit of Food Safety and Standards Authority of India (FSSAI) and there are no such price regulations. «Nutraceuticals are generally sold as over the counter (OTC) products. It has been seen that pharma companies are marketing them at high prices,» said an official aware of the line of thought in the government. «For example, in the case of vitamins, the companies are using active pharmaceutical ingredients (API) for manufacturing a medicine. They then mix it with another ingredient to make it into a nutraceutical and sell it at exorbitant prices,» he added. At present, there are no rules and regulations to regulate the prices of nutraceuticals. «But this is going to get changed,» another person said. Senior officials from the ministry of health and family welfare, department of pharmaceuticals are (DoP), ministry of food processing industries, FSSAI, the Drugs Controller General of India (DCGI), director general of the Indian Council of Medical Research (ICMR) and the director general of health services are actively discussing the issue and will soon come out with measures to regulate the prices.

In its report submitted with the Ministry of Corporate Affairs (MCA), the committee has suggested raising the turnover limit to Rs 75 crore in any of the past three years to maintain and audit cost records. Currently, these turnover limits are fixed at Rs 25 crore for companies in six regulated sectors and at Rs 35 crore for those in 33 unregulated sectors for mandatory cost audits. Moreover, all these companies with a turnover of `35 crore or more are currently required to maintain cost accounts.

rains in Mumbai wreaked havoc on transportation, impacting not only roads and railways but also air travel. Operations at Chhatrapati Shivaji Maharaj International Airport (CSMIA) were significantly disrupted, leading to the diversion of 27 flights and the cancellation of over 50 others. The primary cause of the disruption was heavy rainfall and low visibility, which forced the suspension of runway operations from 2:22 am to 3:40 am on Monday, August 7, 2024. Following the resumption of operations, CSMIA prioritized incoming flights, resulting in potential delays for departing passengers. «The airport is currently working to accommodate the diverted flights and any additional schedule changes caused by the weather event,» a CSMIA spokesperson said.

ministries and departments to provide detailed reasons for execution delays in case a project's cost exceeds the original estimate by 15% for infrastructure projects, people familiar with the development told ET. The proposed norms being discussed are aimed at making ministries and departments more accountable by introducing rigorous cost analysis while ensuring that projects are executed efficiently without unnecessary escalation in cost, they said. Out of 1,873 infrastructure projects, 449 were hit by cost overruns amounting to ₹5.01 lakh crore and 779 projects were delayed till March 2024, according to the ministry of statistics and programme implementation (MoSPI). These infrastructure projects had a project cost of more than ₹150 crore.

finance ministry has asked various ministries, departments and public sector enterprises to avoid the arbitration process in their future contract and use the mediation to settle any disputes. It has also advised various ministries and departments to form a high level committee consisting of a retired judge, a retired high ranking officer and a technical expert for mediation in case of ongoing contract dispute and settle the matter amicably. The move is another attempt by the government to reduce insignificant litigation and to de-clog the Judiciary. “Government departments/ entities/ agencies should avoid and/ or amicably settle as many disputes as possible using mechanisms available in the contract,” said a recently released guidelines issued by the department of expenditure regarding arbitration and mediation in contracts of domestic public procurement.

Cricket in India (BCCI) vice-president Rajeev Shukla on Thursday said that Team India's triumph at the 2024 edition of the T20 World Cup was a 'great achievement'. The Men in Blue got hold of the prestigious T20 WC trophy for the second time, defeating South Africa by seven runs in Barbados on Saturday. Speaking to ANI, Shukla said that everyone in the country is happy after Men in Blue won the T20 World Cup. The BCCI vice-president gave all the credit to the players and BCCI officials for their success in the marquee event.

government to grant maternity leave to a surrogate mother, saying that leave privileges shouldn't depend on how a person became a mother. A single-judge bench ruled in favour of a Orissa Finance Service (OFS) officer, granting her 180 days maternity leave after she became a parent through surrogacy. «Maternity leave should be granted to employees who become mothers through surrogacy to ensure treatment and support for all new mothers, irrespective of how they become parents,» Justice S K Panigrahi ruled.

Anand Mahindra lauded Rahul Dravid, calling him a true role model and highlighting the mark of his character. Mahindra’s praise came in response to Dravid's commendable decision regarding a an extra bonus offered by the BCCI. According to a Press Trust of India report, former India head coach Rahul Dravid recently refused an additional bonus of Rs 2.5 crore offered by the BCCI following India’s T20 World Cup triumph in the Americas. Despite the board’s intention to reward him with Rs 5 crore, equal to the players' bonuses, Dravid chose to accept only the due amount of Rs 2.5 crore, what the other coaching staff got. Dravid’s tenure as India coach was originally set to end after the previous year’s 50-over World Cup, but he stayed on through the T20 World Cup at the behest of skipper Rohit Sharma and the BCCI, who felt it was too short notice to bring in a new coach. After successfully concluding his tenure as India’s head coach with a World Cup win, Dravid is contemplating his next career move. There are speculations about him joining an IPL franchise as a mentor. However, for now, he seems keen on taking a step back to relax after over two years of intense coaching.

MUMBAI : Clouds of a disappointing monsoon season are hovering over the Indian economy. The pace of rainfall was a letdown in June, which typically marks the beginning of the monsoon season. But as the chart shows, the cumulative rainfall was in the deficit zone last month.

Jammu and Kashmir administration has formed a seven-member panel to identify foreign nationals who have been illegally overstaying in Jammu and Kashmir for the past 13 years, aiming to facilitate their deportation. The panel has been tasked with gathering biographic and biometric details of illegal migrants and maintaining an updated digital record regularly. «Sanction is hereby accorded to the re-constitution of the committee to identify foreign nationals illegally overstaying in the Union Territory of Jammu and Kashmir since 2011», Principal Secretary to the Government, Home Department, Chandraker Bharti said in an order. The administrative secretary of the home department will chair the panel. Other members include the Foreigners Regional Registration Officer (FRRO) of Punjab, the Criminal Investigation Department (Special Branch) of the Jammu and Srinagar headquarters, and all district SSPs and SPs (Foreigners Registration), along with the state coordinator, NIC.

southwest monsoon has covered the entire country six days ahead of the normal date, the India Meteorological Department said on Tuesday. «The southwest monsoon has further advanced into the remaining parts of Rajasthan, Haryana and Punjab today. Thus, it covered the entire country on 2nd July 2024, against the normal date of July 8 (six days before the normal date of covering the entire India),» the IMD said in a statement. The monsoon arrived in Kerala and the northeastern region on May 30, two and six days earlier than usual. It progressed normally up to Maharashtra but lost momentum, extending the wait for rains in West Bengal, Odisha, Jharkhand, Bihar, Chhattisgarh, Madhya Pradesh, and Uttar Pradesh, and worsening the impact of a scorching heat wave in northwest India.

Roundhill Investments is completely waiving the fee for its $5.6 million cannabis fund as US regulators move to reclassify marijuana as a less dangerous substance.

summons to former Chief Minister B S Yediyurappa to appear before it on July 15 in connection with a POCSO Act case filed against him. The Criminal Investigation Department had filed a charge sheet against the BJP leader at Fast Track Court 1 for POCSO Act cases here on June 27. A day later, the Karnataka High Court extended its interim order restraining the CID from arresting Yediyurappa after allowing the prosecution to file objections to the petition filed by him seeking quashing of the FIR against him, and then adjourned a further hearing by two weeks. The CID, probing charges against Yediyurappa of sexually assaulting a minor girl, has alleged in the charge sheet that he and three other accused paid money to the alleged victim and her mother to buy their silence.