CBI sees graft case against Rana Kapoor, ADAG firms

 The Central Bureau of Investigation (CBI) during a preliminary enquiry into investments by Yes Bank in Anil Dhirubhai Ambani Group (ADAG) companies has found evidence for a case of corruption and misuse of office against the arrested cofounder of the lender Rana Kapoor.

Comments

Post a Comment

Popular posts from this blog

OpenAI Valuation Soars to $157 Billion Amid Funding Round

Image
 OpenAI, the creator of ChatGPT, has successfully raised $6.6 billion in its latest funding round, with investors like Microsoft reaffirming their strong commitment to artificial intelligence (AI). This funding elevates the company's valuation to $157 billion (£118 billion), positioning it alongside major financial institutions like Goldman Sachs and ranking it among the most valuable startups globally. The company indicated that this substantial influx of capital will enable it to enhance its AI research capabilities and maintain its leadership in the field. This funding comes at a time of heightened scrutiny surrounding OpenAI, particularly due to internal leadership changes and discussions about its future direction. CEO Sam Altman is reportedly restructuring the organization to transition into a for-profit model, which involves dismantling its non-profit board structure. While this shift has attracted significant investment, it has also led to dissatisfaction among some staff a...
Read more

The Man Behind Japan's $170 Billion Yen Support Strategy

Image
 For several years, Masato Kanda had a grueling schedule, often joking, “Three hours a night is an exaggeration.” Speaking to the BBC from Tokyo, the former vice finance minister for international affairs recounted his relentless routine, balancing crucial responsibilities that made sleep elusive. As Japan's top currency diplomat, Kanda faced the challenge of countering currency market speculators, particularly during his tenure when the yen's value plummeted, leading to a cost of living crisis. Historically, Japan's authorities have intervened to weaken the yen to benefit exporters like Toyota and Sony, but this time, the weakening yen raised the costs of essential imports, including food and fuel. Over his three years in the role, the yen depreciated by more than 45% against the U.S. dollar. To combat this decline, Kanda deployed an estimated 25 trillion yen (around $173 billion) to stabilize the currency—Japan's first intervention of this scale in nearly 25 years. Ma...
Read more

Biden and Harris Assess Damage from Hurricane Helene as Death Toll Reaches 180

Image
President Joe Biden and Vice President Kamala Harris have visited southeastern U.S. states impacted by Hurricane Helene, where the death toll has now reached 180. Biden conducted an aerial survey of North and South Carolina to gauge the extensive destruction caused by the storm. Search-and-rescue teams continue to face challenges, with hundreds of people still unaccounted for in remote areas. To bolster recovery efforts, Biden has deployed 1,000 active-duty soldiers alongside 6,000 National Guard members and 4,800 federal aid workers already engaged in six states affected by the hurricane. Aid is being delivered through airdrops and on horseback, with officials warning that recovery could take years. U.S. President Joe Biden speaks about the response to Hurricane Helene during remarks at the White House in Washington. Harris, the Democratic presidential nominee, traveled to Georgia on Wednesday, another state heavily impacted by the storm. Both North Carolina and Georgia are crucial sw...
Read more