Business

CBI raids former finance minister P Chidambaram and son Karti in Chennai

The Central Bureau of Investigation (CBI) on Tuesday raided the house of former finance minister P Chidambaram and his son Karti in Chennai.

The raids were linked to clearances given to INX media, which was once owned by Peter Mukerjea, media reports said.

A total of at least 14 locations in Chidambaram's home city of Chennai were searched by the CBI, India's main federal crime-fighting agency, reports said.

Karti Chidambaram is facing money laundering probe in connection with the Aircel-Maxis deal of the 2G scam.
 
Shortly after media reports of CBI raids at Chidambaram's house in Chennai came out, the Congress came out to defend the former finance minister.

"What have you been doing for three years? If there were serious charges, go ahead. If you have evidence, establish it. You are destroying reputations. The people of India are watching this. You are still trying to fish and find out," Congress spokesperson Tom Vadakkan said.

Good news for six crore EPFO subscribers, interest rates on deposits raised to 8.65%

The government has decided to increase the interest rates on the Employee Provident Fund deposits from existing 8.55 per cent to 8.65 per cent. This i...

Govt announces Rs 48,239 cr recapitalisation plan for 12 public sector banks

In order to help maintain regulatory capital requirements and finance growth plans, the finance ministry on Wednesday announced to pump in Rs 48,239 c...

Twitter strengthens political ads policy ahead of Lok Sabha Polls

Twitter on Tuesday said it would now provide details including ad spends and impressions data of tweets from political entities to users in India as i...

Anil Ambani Held in Contempt, Jail Term if Ericsson Not Paid Dues

The Supreme Court on Wednesday, 20 February, held Reliance Communications Chairperson Anil Ambani and two directors guilty of contempt of court for wi...