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Minister in India’s West Bengal arrested in education scam probe

23 Jul 2022

By Subrata Nagchoudhury KOLKATA, India (Reuters) – India’s financial-crime investigation agency arrested a West Bengal government minister on Saturday for allegedly making money off recruitment for state-run schools, officials said. Partha Chatterjee, who was education minister in the eastern state for more than five years, was accused of appointing hundreds of teachers and non-teaching staff …

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Olympics-IOC tells Indian body to hold elections or face ban

22 Jul 2022

By Sudipto Ganguly MUMBAI (Reuters) – India’s Olympic body faces another ban over governance-related issues if it fails to hold elections in the “coming weeks”, the International Olympic Committee (IOC) said. Indian Olympic Association (IOA) elections were due last December but have been held up by a court case seeking to change its constitution in …

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Indian opposition leader Sonia Gandhi questioned in money-laundering probe

21 Jul 2022

NEW DELHI (Reuters) – Indian opposition leader Sonia Gandhi was questioned by money laundering investigators on Thursday, prompting her Congress Party to accuse Prime Minister Narendra Modi’s government of running a “political vendetta”. The complaint against 75-year-old party president and her son Rahul Gandhi was lodged nine years ago by a member of parliament from …

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Citi expects revenue from India corporate business to grow 10% a year

21 Jul 2022

By Nupur Anand MUMBAI (Reuters) – Citigroup expects annual growth in its corporate banking business in India to accelerate to 10% in the next few years as it focuses on its institutional business after recently selling its consumer banking business, a top executive said. “Conservatively, we expect India corporate banking business revenue to grow at …

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U.S. charges Indian man over $10 million computer fraud scheme targeting elderly

20 Jul 2022

By Jonathan Stempel NEW YORK (Reuters) – U.S. prosecutors in Manhattan charged an Indian man with helping run a scheme that defrauded thousands of victims, including the elderly, into buying unnecessary computer anti-virus protection by falsely claiming that malware had infected their machines. Vinoth Ponmaran, 34, was arrested on July 15 in Blaine, Washington, and …

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India’s Wipro sees higher IT services revenue growth on strong deals pipeline

20 Jul 2022

By Sethuraman N R and Nandan Mandayam BENGALURU (Reuters) -India’s Wipro Ltd on Wednesday forecast higher revenue growth from IT services on the back of a strong project pipeline, and said margins likely bottomed out after higher expenses dented June-quarter profit. IT companies including Wipro and larger rivals Tata Consultancy Services, Infosys and HCL Technologies …

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Indian rupee holds below 80 a dollar mark, RBI hand suspected

20 Jul 2022

By Swati Bhat MUMBAI (Reuters) – The Indian rupee was held below the 80-per-dollar mark on Wednesday aided by the central bank’s dollar-selling intervention, traders said, while gains in the domestic share market and a fall in global crude oil prices also helped. The euro held near two-week highs versus the dollar on expectations of …

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India court orders release on bail of journalist over ‘provocative’ tweet

20 Jul 2022

By Suchitra Mohanty NEW DELHI (Reuters) – India’s Supreme Court on Wednesday ordered the release on bail of a prominent journalist arrested last month over what police said was a “highly provocative” 2018 tweet aimed at straining ties between majority Hindus and minority Muslims. Mohammed Zubair, a co-founder of fact-checking website Alt News and vocal …

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