Yes Bank today said it has filed a complaint with Mumbai Police and cyber cell regarding the spread of rumours and fake news about the bank on Whatsapp and other social media platform. Yes Bank has requested the authorities to form a multi-disciplinary team of experts for detecting the origin of the fake news and assess the short-sell positions, held either directly or indirectly by such accused persons, it said in a statement.
-Business Line

Waryam Singh, a former chairman of Punjab and Maharashtra Cooperative Bank, was arrested by the Economic Offences Wing of Mumbai Police on Saturday in connection with the alleged Rs 4,355 crore scam at the bank. This is a fourth arrest in the case.
-Economic Times

The Enforcement Directorate  attached a private aircraft of Sarang, aka Sunny, Wadhawan of HDIL along with jewellery worth Rs 60 crore, including a diamond ring valued at Rs 15 crore, in the money-laundering case it is probing against him and others in the Punjab and Maharashtra Cooperative (PMC) Bank fraud.
-Economic Times

Foreign portfolio investors have offloaded equities worth around Rs 3,000 crore in just 3 trading sessions of October amid fears of global recession and trade war. This follows a net investment of around Rs 7,850 crore by foreign portfolio investors (FPI) into equities in September.
-Economic Times

IndusInd Bank, which saw a fifth of its market value wiped out over the past week on concern about its creditors, says the crisis of confidence engulfing India’s financial system is fading away. Outstanding loans to overstretched borrowers dipped at the bank last quarter, lenders including IndusInd are working to resolve defaults at Dewan Housing Finance Ltd., and Indian authorities are taking steps to contain future delinquencies at shadow banks, IndusInd’s Chief Executive Officer Romesh Sobti said.
-Economic Times

The RBI’s monthly Consumer Confidence Survey for September shows deep pessimism about the employment situation among Indian households. For the first time ever since September 2012, when this index came into being, a majority of respondents (52.5%) felt the employment situation had worsened. As for the coming year, 33.4% said the situation would only get worse, again the highest proportion ever voicing this feeling.
-Economic Times

Telecom vendors’ association TEMA has sought Communications Minister Ravi Shankar Prasad’s intervention in getting Rs 3,000 crore dues from BSNL, even despite the state-run firm has been reminded by suppliers and manufacturers several times.
-Economic Times

7 of the 10 most valued domestic companies suffered a combined erosion of Rs 1 lakh crore in their market valuation last week with HDFC Bank taking the biggest hit by losing over Rs 30,000 crore.
Besides HDFC Bank, the other losers included RIL, HUL,  HDFC,  Kotak Mahindra Bank, ICICI Bank and Bajaj Finance. On the other hand, TCS,  Infosys and ITC are among the top 10 firms that saw rise in their market valuation for the week ended October 4.
–Moneycontrol.com

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