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Ankush Banerjee
15 May 2024, 17:57

DHFL scam, simplified: Here’s all about the Dheeraj Wadhawan case — allegedly India’s biggest banking loan fraud ever

DHFL scam, simplified: Here’s all about the Dheeraj Wadhawan case — allegedly India’s biggest banking loan fraud ever

DHFL scam, simplified: Here’s all about the Dheeraj Wadhawan case — allegedly India’s biggest banking loan fraud ever

The CBI also explains that the Wadhawans had allegedly created lakhs of fake borrowers by randomly using information on existing home loan borrowers of DHFL. Not only were these accounts used to borrow loans aggregating upwards of Rs 14,000 crores, but they were then leveraged against the Pradhan Mantri Awas Yojana — a scheme to ensure housing for poorer sections — to help DHFL illegally avail Rs 1,880 crores in interest subsidy from the Government.

Top 25 richest people in India in 2024
Sourabh Jain
15 May 2024, 17:13

Top 25 richest people in India in 2024

India has the third highest number of billionaires in the world, behind the US and China. The country has a long list of billionaires, from Mukesh Ambani, the chairman of Reliance Industries and the country’s richest man to Savitri Jindal, the country’s richest woman. Mukesh Ambani and Gautam Adani, who heads the Adani Group have been competing for the top spot, with Adani even taking it for some time, before being pushed down after the Hindenburg saga.

Sebi eases Know Your Customer (KYC) compliance guidelines
15 May 2024, 15:06

Sebi eases Know Your Customer (KYC) compliance guidelines

Markets regulator Sebi has decided to simplify the risk management framework for validating Know Your Customer (KYC) records through KYC Registration Agencies (KRAs), a move that will ensure ease of transacting for investors, experts said on Wednesday. Under the new framework, KRAs can now verify PAN, name, address, email, and mobile number from official databases. If these details are found to be in order, they will be considered validated records, Ankit Ratan, Co-founder & CEO, Signzy said.