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1. Vi$a fraud: Andhra man fakes univ degree, inflates bank balance with borrowed funds

Vi$a fraud: Andhra man fakes univ degree, inflates bank balance with borrowed funds NEW DELHI: An FIR was filed against a 25-year-old man from Andhra Pradesh by Delhi Police after the US Embassy compl

Vi$a fraud: Andhra man fakes univ degree, inflates bank balance with borrowed funds

Vi$a fraud: Andhra man fakes univ degree, inflates bank balance with borrowed funds NEW DELHI: An FIR was filed against a 25-year-old man from Andhra Pradesh by Delhi Police after the US Embassy complained he allegedly submitted forged documents while applying for a non-immigrant visa. The complaint was received by Chanakyapuri police on Aug 8. According to the complaint, the man had appeared at the US Embassy in Delhi on Aug 7 to apply for a non-immigrant visa. As part of his application, he submitted several documents from a Rajasthan-based university, claiming to have completed a Bachelor of Commerce in Computers. The man further submitted an appraisal letter from a company, showing a monthly salary of Rs 35,000, and an experience letter claiming he had worked there from Dec 27, 2023, to July 31, 2026. He also furnished a financial net-worth certificate showing assets worth Rs 1.2 crore, along with bank documents showing balances of Rs 45 lakh and Rs 50 lakh. However, during his visa interview on Aug 7, he allegedly admitted to embassy officials that he had never attended classes at the university and that the degree, marksheets, transcripts, semester grade reports, migration certificate and provisional certificate submitted by him were fake. He allegedly told officials the educational documents had been provided to him by a visa agent, Nitin, in Vijayawada.

2. ‘CJP twisted CJI remark’: SC seeks govt, CBI response on PIL

‘CJP twisted CJI remark’: SC seeks govt, CBI response on PIL The petitioner said that post-May 15, there has been a quantum increase in clips of selectively edited judicial proceedings. NEW DELHI: Thr

‘CJP twisted CJI remark’: SC seeks govt, CBI response on PIL

‘CJP twisted CJI remark’: SC seeks govt, CBI response on PIL The petitioner said that post-May 15, there has been a quantum increase in clips of selectively edited judicial proceedings. NEW DELHI: Three months after CJI Surya Kant's 'cockroach' remark sparked a storm and gave birth to Cockroach Janta Party that led a Gen Z protest against NEET-UG paper leak, Supreme Court Tuesday sought responses from govt and CBI on a PIL seeking action against those who commercially exploited the remark through clever editing of virtual court proceedings and draped it with a meaning that was never intended.During a half-an-hour long debate on the issue before a bench comprising CJI Kant and Justices Joymalya Bagchi and V Mohana, petitioner-cum-advocate Raja Choudhary said it requires a deeper investigation as to how the word 'cockroach', used in a completely different context during judicial proceedings on May 15, was selectively picked, cleverly edited and commercially exploited to undermine judicial dignity and hurt institutional integrity. The petitioner sought a direction to authorities "to examine and take action in accordance with law against persons/entities allegedly involved in commercial exploitation, trademark appropriation, monetized circulation, or unauthorised commercial use of oral courtroom observations/metaphors, including activities of CJP, while recognising that fair criticism, democratic dissent, satire, and free speech remain permissible within the constitutional framework without undermining institutional dignity". Referring to the May 15 hearing before a CJI-led bench on a petition 'Sanjay Dubey Vs Registrar General of Delhi HC', Choudhary emphasised the CJI had made the "cockroach" remark in the specific context of fake advocates, as he expressed "concerns regarding misuse of court process, deterioration of professional…

3. RBI curbs on NBFC flexi credit may push lenders towards bullet loans, raise costs: Kotak

RBI curbs on NBFC flexi credit may push lenders towards bullet loans, raise costs: Kotak - Regulators - 2 min read RBI curbs on NBFC flexi credit may push lenders towards bullet loans, raise costs: Ko

RBI curbs on NBFC flexi credit may push lenders towards bullet loans, raise costs: Kotak

RBI curbs on NBFC flexi credit may push lenders towards bullet loans, raise costs: Kotak - Regulators - 2 min read RBI curbs on NBFC flexi credit may push lenders towards bullet loans, raise costs: Kotak New Delhi: The Reserve Bank of India's (RBI) proposed restrictions on revolving credit facilities offered by non-banking financial companies (NBFCs) may increase operational challenges for lenders, reduce their returns and raise costs for borrowers, Kotak Institutional Equities said in a report. The brokerage expects NBFCs to gradually shift from flexi/revolving credit facilities to bullet-repayment loans following the RBI's proposal to allow only term loans with fixed repayment schedules. "Revolving/flexi may be looked at as more of a payment term than a loan facility in itself," Kotak said. NBFCs mainly offer these facilities to micro, small and medium enterprise (MSME) borrowers across secured loans, loan against property (LAP), unsecured loans, supply-chain finance and working-capital loans. Some lenders also provide such facilities for personal and professional loans. The report said the proposed changes are unlikely to lead to major borrower losses for NBFCs, as customer relationships depend on several factors, including interest rates, ease of transactions, servicing quality, dependence and flexibility. "While the treatment of the existing revolving credit book is unclear, we expect the regulator to exempt the same or provide sufficient time to convert to bullet repayment loans," Kotak said. Kotak expects lenders to migrate flexi/revolving facilities to bullet-repayment loans.

4. BRICS grouping discussing linking CBDCs, fast payment systems: RBI Guv Malhotra

BRICS grouping discussing linking CBDCs, fast payment systems: RBI Guv Malhotra - Web Stories - 2 min read BRICS grouping discussing linking CBDCs, fast payment systems: RBI Guv Malhotra Addressing th

BRICS grouping discussing linking CBDCs, fast payment systems: RBI Guv Malhotra

BRICS grouping discussing linking CBDCs, fast payment systems: RBI Guv Malhotra - Web Stories - 2 min read BRICS grouping discussing linking CBDCs, fast payment systems: RBI Guv Malhotra Addressing the annual Fibac event here, Malhotra said cross-border payments are "an area of interest for all of us", including the BRICS bloc, because there is a lot of scope to reduce costs, especially for retail transactions, and increase the speed. Mumbai, Reserve Bank Governor Sanjay Malhotra on Tuesday said the BRICS nations are in discussions to link their respective central bank digital currencies and fast payment systems, such as India's UPI, to facilitate cheaper and faster fund transfers for trade and remittances. Addressing the annual Fibac event here, Malhotra said cross-border payments are "an area of interest for all of us", including the BRICS bloc, because there is a lot of scope to reduce costs, especially for retail transactions, and increase the speed. "There is a lot of work which is being done over there. And various methods, various options are on the table, but it is still at the discussion stage, including CBDC and linkages of fast payment systems," he said. Malhotra said he will be headed to Jaipur later on Tuesday to be at the first meeting of BRICS Finance Ministers and Central Bank Governors, starting Wednesday. The meetings are scheduled to last for three days. He also said that efforts are on to internationalise the rupee, and India is looking to expand the number of memorandums of understanding (MoUs) between central banks that it signs for promoting bilateral trade in local currencies.

5. Zostel withdraws latest Delhi HC application against Oyo parent PRISM

Zostel withdraws latest Delhi HC application against Oyo parent PRISM - Litigation - 2 min read Zostel withdraws latest Delhi HC application against Oyo parent PRISM Zostel withdrew a new application

Zostel withdraws latest Delhi HC application against Oyo parent PRISM

Zostel withdraws latest Delhi HC application against Oyo parent PRISM - Litigation - 2 min read Zostel withdraws latest Delhi HC application against Oyo parent PRISM Zostel withdrew a new application against Oyo parent PRISM in Delhi High Court. The court dismissed the application as withdrawn, finding it lacked merit. This dismissal follows Zostel's withdrawal of an earlier application on July 8. Zostel has withdrawn a new application against Oyo parent PRISM in the Delhi High Court. The Delhi High Court dismissed its latest application as withdrawn, noting that it lacked merit. The dismissal comes after the matter was briefly taken up last week, when an issue concerning Zostel's legal representation arose before the Court. Zostel's previous counsel informed the Court that its fees remained unpaid, while Zostel had engaged new counsel for the recently filed application. The matter was consequently adjourned to August 10.

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