The Economic Offences Wing (EOW) police of the Indian state of Tamil Nadu have arrested a total of 59 people this year in connection to financial frauds. Inspector General of Police (IG), EOW CID N S Asiammal confirmed this news on the 15th of May while releasing a report. Individuals involved were suspects and directors or managing directors of Aarudhra Gold Trading Private Limited, Hijau Associates Private Ltd and LNS International Financial Services. A total of Rs 350 crore was fraudulently taken from over two lakh depositors.

Aarudhra Gold Trading Private Limited had duped 2,438 crores from depositors by promising higher returns with monthly interests of 25-30%. 32 people were suspects in this case, out of which 13 have been taken into custody and 8 more have been arrested recently. Hijau Associates Private Limited was held responsible for taking Rs 4,400 crore from 89,000 depositors and 38 individuals and companies were named in the investigation. Of those, 17 were taken into custody. In the case of LNS International Financial Services, 84,000 depositors were tricked into paying Rs 5,900 crore and out of 24 suspects, 8 have already been arrested and 4 more are living abroad.

Apart from these companies, other companies too have been held responsible. An international search warrant via Interpol has been issued to locate the primary suspects. In this regard, strict actions been taken to investigate and arrest criminals involved in financial crimes.

In Indore, Madhya Pradesh, due to a lack of coordination between the Women and Child Development Department and the postal department, confusion has arisen about the payments disbursed through the Ladli Lakshmi Scheme and its accompanying National Savings Certificates. These certificates have been issued to an amount of Rs.84.84 crores across the state, totaling to 1,39,786 NSCs.

However, the department data show that there is a pendency of over a lakh certificates, including 168 NSCs of Indore district entailing a sum of Rs.10 lakh. The officials of the department attributed this mismatch to the fact that the information present on the website have not been completely updated.

Ram Rao Bhonsle, the Commissioner of the Women and Child Development Department, has written a letter asserting that the payments, amounting to lakhs, allotted for the beneficiaries of the Ladli Lakshmi Scheme from 2007 to 2014 have not been updated with the Directorate. Since the year 2014-15, in all the districts, the payments have been deposited to the fund after maturity, but the 1,39,786 NSCs across the state and 168 NSCs from Indore are still pending and the actual number and amount of pending NSCs in the post office remain unknown.

The company mentioned in this article is the Women and Child Development Department (WCDD), in Indore. This government department is responsible for protecting the rights of women and children in India. Its main objectives are to provide social security to women and children and to ensure that they have access to basic services such as health, nutrition, education and overall development. Through its Ladli Lakshmi Scheme, WCDD also provides financial assistance and incentives to families for the education and health security of their daughters.

The person mentioned in this article is Ram Rao Bhonsle, Commissioner of the Women and Child Development Department, Indore. The main purpose of Bhonsle’s letter was to address the lack of coordination between the WCDD and the Postal Department which has resulted in confusion regarding the payment disbursed under Ladli Lakshmi Scheme and its accompanying NSCs. Bhonsle’s letter also highlighted the need to update the Directorate data regarding the allotment of payments for the beneficiaries and the distribution of NSCs.

A food inspector in Chhattisgarh’s Kanker district has been suspended after reportedly draining 21 lakh litres of water from the Paralkot reservoir to find his lost mobile phone. Rajesh Vishwas had gone for a picnic near the Kherkatta dam where, while taking a selfie, his phone dropped off into the water.

The incident raised serious concerns among the public with Congress MLA Anoop Nag expressing disapproval over such an action. He demanded strict action from the Collector and an investigation into the matter. He also highlighted the severe implications of such a careless action, specifically on the local farmers who heavily depend on the water.

The US Treasury Secretary Janet Yellen recently announced an extension to the debt default deadline on June 5.

The case of the food inspector’s water wastage has severe implications in a country that is already facing a massive water crisis. This is especially pertinent given India’s agricultural economy which relies heavily on irrigation and has to contend with an ever-evolving climate crisis. It is therefore important that serious action is taken in order to discourage and punish similar incidents in the future.

The US Department of treasury, headed by Janet Yellen, is responsible for all the economic and financial decisions of the country. The department’s primary responsibilities include managing the federal debt, issuing new treasury securities, handling the government’s social security program, collecting taxes, and redeeming outstanding public debt. By extending the debt default deadline, Yellen provided additional financial breathing room for borrowers, allowing them to remain current and financiall stable.

On Saturday morning, parts of Delhi-NCR witnessed heavy rains, accompanied by thunderstorms and gusty winds, acting as respite from the hot weather that had been prevailing over North India. The India Meteorological Department predicted the rains and thunderstorms in Delhi and its surrounding areas in the morning of the same day as well.

The weather department also predicted rainfall in the region for the next two to three days, and according to them, no heat wave was predicted until May 30th. Additionally, the India Meteorological Department stated that the entire nation would be receiving below normal rain levels during the month of June, with the probability of above-normal temperatures is at 70 to 80 percent in Madhya Pradesh, Rajasthan, Gujarat, Odisha, and northern India.

In an interview to the press, the head of the IMD, RK Jenamani, stated that the country will undergo below-normal rainfall in the month of June – moisture levels at below 92 percent. He went on to say that conditions were conducive for the southwest monsoon to make its onset in Kerala on June, 4, with chances of a mostly-normal monsoon this year.

The article mentions the US Treasury Secretary, Janet Yellen and her recent decision extending the deadline to June 5 for debt default. As of late April 2021, Janet Yellen was seen becoming the first woman in US history to hold the role Secretary of the Treasury. This decision from her is said to bring relief to American families as well as businesses across the nation that are still trying to make ends meet due to the Covid-19 pandemic.

The article also mentions the ‘Smart Anganwadis’ in Gujarat’s Narmada District that were inaugurated by Union Minister S Jaishankar. A smart anganwadi is a modern space where children of 4-6 years of age can spend some time as part of their learning of general knowledge, language, science, maths, and other educational activities. Jaishankar was seen performing the Bhoomi Pujan of these two “Smart Anganwadis” in response to the central government’s focus on delivering education to even the remotest of villages and areas in the country.

India Meteorological Department is an autonomous scientific agency of the Ministry of Earth Sciences of the Government of India. It is responsible for providing meteorological forecasts, evaluation of climate changes, and monitoring of water resources. It works closely with the India Meteorological Society, the Met Office of UK, and World Meteorological Organization (WMO) in the interest of forecasting and scientific exchange.

Foreign institutional investors (FIIs) are reportedly looking to offload 30 percent of their stake in Indian healthcare group Aster DM Healthcare, which is controlled by an UAE-based hospital conglomerate, for around $300 million. KKR, a private equity fund, and Max Healthcare Institute, a hospital chain, are said to be the potential buyers in these negotiations.

Aster DM Healthcare is based in Bengaluru, and is owned by the UAE-based promoters, who own 41.88 percent, and the FIIs, who own 38.63 percent. Additionally, two other investors are considering selling their stake in the company. These are Olympus Capital, who owns 19 percent, and Rimco, an investment firm based out of Mauritius, who holds 12 percent.

The company recently released their fourth quarter earnings report for 2022-23, showing a 24 percent year-on-year decrease in profits. Additionally, overall profits for the full fiscal year dropped by 19.2%. Poor performance was attributed to the launching of five new hospitals across the Gulf Cooperation Council countries and India.

Revenues for the entire year, however, did grow 16 percent to Rs 11,933 and operational earnings for the fourth quarter increased 20 percent to Rs 3,262 crore. For the company’s Indian segment, full-year revenue increased 25 percent to Rs 2,983 crore, while revenues for the fourth quarter went up 32 percent to Rs 804 crore.

Aster DM Healthcare currently operates in Kerala, Karnataka, Maharashtra, Andhra Pradesh and Telangana and have seen their total bed capacity in India to jump to 4,317 from 3,905 last year.

Aster DM Healthcare is a leading healthcare provider in the UAE and India, offering medical care through a range of hospitals, clinics, and emergency care services. With its growing presence and expansion, Aster DM Healthcare is striving to become a leading player in the Indian healthcare industry and meet the rising demand for healthcare services. The management of Aster DM Healthcare is led by Dr. Azad Moopen, who serves as the Founder Chairman and Managing Director of the group.

Housing Development Finance Corp (HDFC), National Bank for Agricultural and Rural Development (Nabard) and Power Finance Corporation (PFC) are lining up bond sales in the coming weeks, to the tune of ₹10,000 crore. HDFC is likely to start the debt issuance by raising ₹5,000 crore through a two-year bond sale. Nabard may follow with an issue of ₹ 5,000 crore bonds that mature in November 2026 with an early put-call option for June 2, 2025. This bond is rated AAA by ICRA and CRISIL. Finally, PFC is planning two tranches of bond sales, raising ₹4,000 crore in total. The first tranche has a base size of ₹500 crore and an additional subscription option of ₹1,500 crore with a maturity in 2030. The second tranche also has a base size of ₹500 crore and an additional subscription option of ₹1,500 crore with a maturity of 2032. Both tranches are rated AAA by rating agencies CRISIL, ICRA and Care.

Corporate debt valuations have become cheaper in the last couple of months due to a sharp decline in government bond yields, which are the benchmark rate. This, coupled with improved liquidity conditions in the banking system, has made corporate debt even more attractive.

HDFC is one of the leading providers of housing finance in India, offering various financial and housing services such as home loans, loan against property, property deals, and credit cards. Nabard is an apex development institution which is engaged in promoting the economic and social development of rural India. PFC is a Government of India owned financial institution that is involved in the financing and development of the power sector.

On Friday, the Excise Department in Bhopal (Madhya Pradesh) arrested an individual for allegedly possessing illicit liquor worth Rs 1 lakh and trying to sell it to the owner of a hotel and a bar. The accused, identified as Rajeev Vasudev, a native of Arera Colony, was caught with 72 bottles of liquor followed by a tip-off about his presence on Hoshangabad Road.

Upon questioning, Vasudev admitted that he had been buying and selling illicit liquor to operators and owners of bars and hotels, following the closure of ahaatas. The Department continues to investigate the matter further to find out the source of the contraband.

The Excise Department is an integral part of the government. It is responsible for the collection of taxes on alcoholic beverages and it also prevents the sale, manufacture, transportation, and possession of alcoholic beverages in areas subject to legislative control. It plays an important role in managing public health, safety, and the economy.

Rajeev Vasudev is a native of Arera Colony who allegedly possessed and attempted to sell illicit liquor to a hotel and bar owner. He confessed to procuring the liquor for sale to operators in ahaatas, which have been closed due to the pandemic. The Excise Department is now continuing its investigations to uncover the source of the liquor.