News That Matters

Tag: from

‘Banks can’t recover money lost in fraud from customer’

‘Banks can’t recover money lost in fraud from customer’

Finance
KOCHI: Banks cannot ask a customer to repay money lost through online fraud using its powers under SARFAESI Act as it is a disputed transaction, the high court has held. Banks would have to approach a civil court to recover the money from the persons responsible, the court said. After referring to two rulings by the Supreme Court and a ruling by the high court that banks are liable for unauthorized withdrawals, Justice A Muhamed Mustaque said in the judgment, “Thus, it is clear that the bank cannot claim any amount from the customer when a transaction is shown to be a ‘disputed transaction’. The bank can recover from the customers only when it can unequivocally prove that the customer was responsible for such transaction, independently through the civil court. The RBI guidelines is a clear
Angelina: Strong women ‘learn from men around them’

Angelina: Strong women ‘learn from men around them’

Entertainment
Angelina Jolie has championed the role men can play in shaping the personalities of young girls.The actress, who stars in Maleficent: Mistress of Evil, also said female characters in films should not have to be portrayed as physically tough in order to be considered strong."I think that, so often, when a story's told which says 'this is a strong woman', she has to beat the man, or she has to be like the man, or she has to somehow not need the man," Jolie told journalists at the film's launch.Referring to her own character in the film and Princess Aurora, played by Elle Fanning, Jolie said: "We both very much need and love and learn from the men. "And so I think that's also an important message for young girls, to find their own p...
IS fighters escape from jail as 130,000 people flee Turkish forces

IS fighters escape from jail as 130,000 people flee Turkish forces

World
Islamic State (IS) fighters have fled a Syrian prison and more than 700 foreign IS family members escaped a camp during a Turkish offensive - as the UN said more than 130,000 Kurds have been displaced.The terror group said it was behind a car bombing on Friday in Qamishli, the largest city in Kurdish-held northern Syria, which allowed some of the thousands of IS fighters held in Syria to escape. On Sunday, the Kurdish-led authority said 785 foreigners afiliated with IS escaped the Ain Issa camp after it was shelled by Turkish forces and their allies, the UK-based Syrian Observatory for Human Rights (SOHR) said.Their escape came as the UN said more than 130,000 people have been displaced from the region in the four days since Turkish forces and their Syrian rebel allies started the offensiv...
What we might learn from Trump’s tax returns — if they’re released

What we might learn from Trump’s tax returns — if they’re released

Finance
President Donald Trump announced that the U.S. has issued new sanctions on Iran's central bank at the "highest level" while speaking in the Oval Office on September 20, 2019 in Washington, DC.Win McNamee | Getty ImagesPresident Donald Trump's personal and corporate tax returns could give the public an inside look at his finances — depending on which forms are released.A federal judge on Monday dismissed Trump's lawsuit to block the release of his tax returns to Manhattan District Attorney Cyrus Vance Jr.The DA is investigating the Trump Organization and had served a subpoena seeking eight years of tax returns.The U.S. Court of Appeals for the 2nd Circuit granted a temporary stay of enforcement of the subpoena, giving the president a reprieve.If those documents are made public, they could p
New home loan takers to gain instantly from RBI cut

New home loan takers to gain instantly from RBI cut

Finance
NEW DELHI: New home loan borrowers are set to immediately gain from the latest round of rate reduction by RBI but existing borrowers can get the benefit of repo-linked rates by paying legal and administrative charges, which has been waived by certain banks but others are charging as much as Rs 10,000. On an average, home loan rates are likely to fall by 25 basis points for new borrowers, and the gain can be higher for those who have not migrated so far from marginal cost of lending (MCLR) -linked loans to those linked to RBI's repo rate and doing so now. To take the benefit of the new system, existing borrowers, whose interest rates are pegged to the bank's MCLR, will have to migrate to the new system. For this, banks are charging legal and administrative charges, which varies from nil to...