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This broker goes to another bank and tries to sell the securities and vice versa for buying. Since Mehta was a renowned broker, he issued cheques in his name instead of the bank. When the bank wanted money for the securities, he approached another bank and repeated the same process, and invested the bank money in the stock market. [10]
N. R. Narayana Murthy was born on 20 August 1946 in Sidlaghatta, a city in India's south-western state of Karnataka [20] into a Kannada- speaking middle-class Brahmin family. [21] After completing his school education, he went to the National Institute of Engineering and graduated in 1967 with a bachelor's degree in electrical engineering .
Online lender Kabbage was one of the biggest lenders in the first year of the Paycheck Protection Program, processing more than $7 billion in loans. Facing federal PPP fraud investigations, online ...
The investors were rattled as news of the arrests broke in Mumbai. The share of the LIC Housing Finance, Central Bank of India, Punjab National Bank, Bank of India as well as other banking and real-estate stock declined. [2] [6] The Union finance ministry initially claimed that the case was a bribery incident, and not a large-scale scam.
The Paycheck Protection Program was one of the signature federal economic relief measures in the early days of the COVID-19 pandemic, providing small businesses loans of up to $10 million that ...
Longtime Infosys CEO N.R. Narayana Murthy has returned to the company he founded in 1981 as its new executive chairman of the board, Infosys recently announced. The Infosys board approved the ...
The Punjab National Bank Fraud Case relates to fraudulent letter of undertaking worth ₹12,000 crore (US$1.4 billion) issued by the Punjab National Bank at its Brady House branch in Fort, Mumbai; making Punjab National Bank liable for the amount. [1] The fraud was allegedly organized by jeweller and designer Nirav Modi.
Murthy started Infosys with six engineers with $250 in 1981, and took advantage of Western tech companies hoping to outsource IT operations to lower-cost India. He stepped down as the company's ...