I-T unearths Rs 871 crore scam in Rajkot bank

January 9, 2017

New Delhi, Jan 9: The income tax (I-T) department has detected huge alleged discrepancies in the transactions of a Rajkotbased cooperative bank where Rs 871 crore deposits were made, over 4,500 new accounts opened and more than five dozen accounts having same mobile number initiated, making it one of the biggest cases of black fund generation post November 8.

rajkotThe department's Ahmedabad probe wing has now initiated action under tax laws and has sought full details from the bank after it conducted survey operations against it sometime back and found large irregularities.

Officials said the department's investigation till now has found that cash deposits of Rs 871 crore, majorly using the old notes of Rs 500 and Rs 1000, was made in this bank between November 9-December 30 last year while Rs 108 crore was withdrawn during the same period in a highly suspicious manner not commensurate with the bank's activities during the same period in 2015 or at other times.

The sleuths have identified at least 25 high value cash deposits post demonetization where Rs 30 crore monies have been transacted in an alleged suspicious and unsatisfactory manner and in accounts with purported weak KYC norms in place. An I-T analysis report prepared in this regard states that Rs 10 crore funds were deposited in a number of "dormant" accounts post the currency scrap, including in that of a petroleum firm where Rs 2.53 crore was deposited.

What has startled the taxman has been the fact that a total of "4,551 new accounts were opened in the bank post demonetization as against the average 5,000 of such accounts usually opened in the full year while 62 of these were opened using one mobile number." It was detected, they said, that there were blatant discrepancies in the pay-in slips filled to make the deposits as none of them had PAN numbers quoted, many had no signatures of the depositor even as none had any documents to reflect the source of these amounts.

"It was found that the son of bank's ex-director has received Rs 1 crore through cash deposits in 30 bank accounts. All the pay-in slips were filled by the same person. "Also, the mother of the vice-chairman of the bank has received 64 lakh of cash deposits which have ultimately been transferred to a jeweller," the report alleged and added the funds moved through RTGS and other banking transfer channels.

Comments

Skazi
 - 
Monday, 9 Jan 2017

Shaji, even the role of notorious BJP leaders can not be ruled out ....

Let the justice prevail, and INDIA be CLEAN ....

shaji
 - 
Monday, 9 Jan 2017

I hope investigation will lead to involvement of anti social, anti national and terrorist organisation in this huge currency deal.

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Agencies
February 20,2020

India ranked 77th on a sustainability index that takes into account per capita carbon emissions and ability of children in a nation to live healthy lives and secures 131st spot on a flourishing ranking that measures the best chance at survival and well-being for children, according to a UN-backed report.

The report was released on Wednesday by a commission of over 40 child and adolescent health experts from around the world. It was commissioned by the World Health Organization (WHO), UN Children's Fund (UNICEF) and The Lancet medical journal.

In the report assessing the capacity of 180 countries to ensure that their youngsters can survive and thrive, India ranks 77th on the Sustainability Index and 131 on the Flourishing Index, it said.

Flourishing is the geometric mean of Surviving and Thriving. For Surviving, the authors selected maternal survival, survival in children younger than 5 years old, suicide, access to maternal and child health services, basic hygiene and sanitation, and lack of extreme poverty.

For Thriving, the domains were educational achievement, growth and nutrition, reproductive freedom, and protection from violence.

Under the Sustainability Index, the authors noted that promoting today's national conditions for children to survive and thrive must not come at the cost of eroding future global conditions for children's ability to flourish.

The Sustainability Index ranks countries on excess carbon emissions compared with the 2030 target. This provides a convenient and available proxy for a country's contribution to sustainability in future.

The report noted that under realistic assumptions about possible trajectories towards sustainable greenhouse gas emissions, models predict that global carbon emissions need to be reduced from 39·7 giga­ tonnes to 22·8 gigatonnes per year by 2030 to maintain even a 66 per cent chance of keeping global warming below 1·5°C.

It said that the world's survival depended on children being able to flourish, but no country is doing enough to give them a sustainable future.

"No country in the world is currently providing the conditions we need to support every child to grow up and have a healthy future," said Anthony Costello, Professor of Global Health and Sustainability at University College London, one of the lead authors of the report.

"Especially, they're under immediate threat from climate change and from commercial marketing, which has grown hugely in the last decade," said Costello – former WHO Director of Mother, Child and Adolescent health.

Norway leads the table for survival, health, education and nutrition rates - followed by South Korea and the Netherlands. Central African Republic, Chad and Somalia come at the bottom.

However, when taking into account per capita CO2 emissions, these top countries trail behind, with Norway 156th, the Republic of Korea 166th and the Netherlands 160th.

Each of the three emits 210 per cent more CO2 per capita than their 2030 target, the data shows, while the US, Australia, and Saudi Arabia are among the 10 worst emitters. The lowest emitters are Burundi, Chad and Somalia.

According to the report, the only countries on track to beat CO2 emission per capita targets by 2030, while also performing fairly – within the top 70 – on child flourishing measures are: Albania, Armenia, Grenada, Jordan, Moldova, Sri Lanka, Tunisia, Uruguay and Vietnam.

"More than 2 billion people live in countries where development is hampered by humanitarian crises, conflicts, and natural disasters, problems increasingly linked with climate change," said Minister Awa Coll-Seck from Senegal, Co-Chair of the commission.

The report also highlights the distinct threat posed to children from harmful marketing.

Evidence suggests that children in some countries see as many as 30,000 advertisements on television alone in a single year, while youth exposure to vaping (e-cigarettes) advertisements increased by more than 250 per cent in the US over two years, reaching more than 24 million young people.

Studies in Australia, Canada, Mexico, New Zealand and the US – among many others – have shown that self-regulation has not hampered commercial ability to advertise to children.

Children's exposure to commercial marketing of junk food and sugary beverages is associated with purchase of unhealthy foods and overweight and obesity, linking predatory marketing to the alarming rise in childhood obesity, it said.

The number of obese children and adolescents increased from 11 million in 1975 to 124 million in 2016 – an 11-fold increase, with dire individual and societal costs, the report said.

To protect children, the authors call for a new global movement driven by and for children.

Specific recommendations include stopping CO2 emissions with the utmost urgency, to ensure children have a future on this planet; placing children and adolescents at the centre of global efforts to achieve sustainable development, the report said.

New policies and investment in all sectors to work towards child health and rights; incorporating children's voices into policy decisions and tightening national regulation of harmful commercial marketing, supported by a new Optional Protocol to the UN Convention on the Rights of the Child, it said.

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News Network
February 7,2020

Mysuru, Feb 7: Former chief minister and Janata Dal (Secular) leader HD Kumaraswamy on Thursday said that Chief Minister BS Yediyurappa-led government is not stable and it can fall at any moment.

"Karnataka Government is not a stable one. With the developments taking place, it can fall at any moment," Kumaraswamy told reporters when asked to comment on the Karnataka Cabinet expansion.

Earlier in the day, 10 MLAs including Ramesh Jarkiholi, Anand Singh, K Sudhakar and BA Basavaraja took oath as Cabinet Ministers at Raj Bhawan in Bengaluru.

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News Network
August 2,2020

Bengaluru, Aug 2: Within a year of returning to power for the fourth time as Chief Minister in Karnataka, septuagenarian B.S. Yediyurappa has consolidated his position in the ruling BJP to stay the course till the next Assembly elections in mid-2023.

"A combination of factors helped Yediyurappa to consolidate and stay the course for the remaining term of his office to ensure the saffron party retains power in the state though he is unlikely to stake claim for the chief minister's post again as he would be 80 years old by 2023," a party source told news agency here.

Since the 77-year-old seasoned politician assumed office on July 26, 2019, the first year has been tumultuous for him, as he had go through a "trial by fire" what with the party's mighty high command and detractors testing his patience in the face of natural calamities like drought, floods and the Covid pandemic.

The first 7-8 months of the term were spent in tackling drought and floods, winning 12 of the 15 by-elections in December to secure a majority for the ruling party in the lower house and expanding the cabinet in February.

Even as Yediyurappa was settling down to seriously govern after presenting the state budget for fiscal 2020-21 in early March, the coronavirus outbreak overwhelmed him, as the pandemic spread and wreaked havoc, disrupting life, livelihood, economic growth and development.

"While the emphatic victory in the by-elections ensured the government's stability till the assembly term up to mid-2023, the second cabinet expansion on February 6 posed a challenge to Yediyurappa, as he could induct only 10 of the 12 MLAs who defected from the Congress and the Janata Dal-Secular (JD-S) and won the by-elections, triggering a revolt in the party by the loyalists left out of the ministry," the source recalled.

Though Yeddiyurappa has been leading the battle against the virus from day 1 and initially succeeded in controlling it from spreading during the extended lockdown till May 31, reopening the state under Unlock since June has undone the gains, as positive cases shot up to 1,29,287 so far, including 73,219 in Bengaluru after 53,648 recovered from across the state till date, while 2,412 succumbed to the deadly disease since March 9.

"For a state of 7 crore population, the data reveals that the pandemic has been fought on war-footing to contain it from spreading in all the 30 districts, although there are no signs of it going away till a vaccine is found. The chief minister has been trying to balance unlocking the state and containing the infection," a member of the health task force told IANS.

With six cabinet posts in the 34-member ministry being vacant, filling them will be a daunting task for Yediyurappa, as at least 20 legislators, including 5-6 newly elected turncoats and party's veterans are lobbying to become ministers at any cost.

By appointing 20 party legislators as heads of state-run board and corporations, nominating 5 as members of the state legislative council, including JD-S defector A.H. Vishwanath in July and getting 2 Congress defectors R. Shankar and M.T.B. Nagaraj elected as MLCs in June with 2 others, Yediyurappa ensured that these lawmakers would not be in the reckoning for the 6 cabinet posts, as dozen MLAs are already pitching for them.

Nagaraj and Vishwanath lost in the December 5 by-elections, while Shankar was not given a ticket to contest in the by-poll but was assured of making him an MLC with another disgruntled member C.P. Yogeshwar, who lost in the 2018 May assembly polls to JD-S leader and former chief minister H.D. Kumaraswamy of the 14-month-old JD-S and Congress coalition government from May 23, 2018 to July 23, 2019.

Resignations of 17 rebels, including 14 from the Congress and 3 from the JD-S led to the fall of the coalition government, as Kumaraswamy lost the majority in the 225-member assembly on July 23, 2019 in their absence.

Though Yediyurappa led the party to win 105 seats in the 2018 assembly elections and formed a government on May 17, 2018, he resigned 3 days later on May 19, 2018, as he fell 8-9 seats short of the halfway mark (113) for a simple majority in the lower house.

In a post-poll alliance, the JD-S and the Congress formed the coalition government to keep the BJP out of power in May 2018, after the assembly elections gave split verdict and the Congress lost power then.

"The record victory of the ruling party in the May 2019 general elections, when 25 of its 27 contestants won out of 28 Lok Sabha seats from the state, reinforced the popular belief that Yediyurappa is the party's mascot in winning elections and an unquestionable leader of the politically dominant Lingayats in the state," the source pointed out.

When Yediyurappa left the BJP and floated a regional outfit (Karnataka Janata Party) in January 2013, he delivered a body blow to the BJP in the May 2013 state assembly polls, as the votes got split and was defeated by then Congress.

"Besides the party's high command, everyone in the party's state unit, including leaders and cadres are aware of Yediyurappa's popularity across the state, as has the wherewithal to connect with masses and win elections," the source added.

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