Three promoters of Ram Dev International, recently booked by the CBI for allegedly cheating a consortium of six banks to the tune of Rs 411 crore, have already fled the country before the State Bank of India reached the agency with the complaint, officials said on Saturday. The CBI had recently booked the company engaged in export of Basmati rice to the West Asian and European countries and its directors Naresh Kumar, Suresh Kumar and Sangita on the basis of complaint from the State Bank of India (SBI), which suffered the loss of more than Rs 173 crore, they said. The company had three rice milling plants, besides eight sorting and grading units in Karnal district with offices in Saudi Arabia and Dubai for trading purposes, the SBI complaint said. Besides SBI, other members of consortium are Canara Bank, Union Bank of India, IDBI, Central Bank of India and Corporation Bank, they said. The Central Bureau of Investigation (CBI) did not carry out any searches in the matter because of the

“We need a change in mind set, where the wilful or non-cooperative defaulter is not lionized as a captain of industry, but justly chastised as a freeloader on the hardworking people of this country,” said the RBI governor in his recent lecture at IRMA, Anand. An unedited transcript of his speech

Three promoters of Ram Dev International, recently booked by the Central Bureau of Investigation (CBI) for allegedly cheating a consortium of six banks to the tune of Rs 411 crore, have already fled the country before the State Bank of India (SBI) reached the agency with the complaint, officials said on Saturday.

Absconding dimantaire Choksi's company Gitanjali Gems tops the list of these defaulters with a whopping amount of Rs 5,492 crore, according to the list.

Besides SBI, other members of consortium are Canara Bank, Union Bank of India, IDBI, Central Bank of India and Corporation Bank, they said.

In a tweet, Gandhi said, "In Parliament I asked a straight question that who are the top 50 bank thieves, the finance minister refused to answer, and now the RBI has given the list of Nirav Modi, Mehul Choksi, all BJP friends..."

A reply from RBI which stated that the government has waived Rs 68,607 crore of the top 50 bank loan defaulters.

The Indian government has recently introduced a COVID-19 tracker mobile app which is capable of monitoring the spread of the virus. According to the Mint report citing two sources from the smartphone industry, the app will be soon installed on smartphones

Huatong Road & Bridge Group Co, based in the northern province of Shanxi, said it may miss a 400 million yuan ($64.5 million) note payment due July 23.

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Three promoters of Ram Dev International, recently booked by the Central Bureau of Investigation (CBI) for allegedly cheating a consortium of six banks to the tune of Rs 411 crore, have already fled the country before the State Bank of India (SBI) reached the agency with the complaint, officials said on Saturday.

The owners of Ram Dev International Limited are said to be missing since 2016 when an inspection was carried out by SBI.

Besides SBI, other members of the consortium that has been cheated are Canara Bank, Union Bank of India, IDBI, Central Bank of India and Corporation Bank

​​​The CBI had recently booked the company engaged in export of Basmati rice to the West Asian and European countries and its directors Naresh Kumar, Suresh Kumar and Sangita on the basis of complaint from the State Bank of India (SBI), which suffered the loss of more than Rs 173 crore, they said.

The CBI had recently booked Ram Dev International and its directors Naresh Kumar, Suresh Kumar and Sangita

Loan defaulters flee, SBI complains after 4 yrs

Dewey Library - HJ8011.R66 2019

According to the complaint filed by SBI, the account had become non-performing asset on January 27, 2016.

Retail borrowers who are facing difficult times, and are unable to repay their loans even after the moratorium ends, will get another three months to regularise their loans.As a standard practice, lenders need to classify a loan as NPA if a borrower doesn’t repay for 90 days.