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The CBI Arrests Two Senior Retired Officers Of Bank Of India

The agency in an FIR had said that the DPIL, which manufactures electric cables and

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The CBI Arrests Two Senior Retired Officers Of Bank Of India: Bank Of India Fraud
The CBI Arrests Two Senior Retired Officers Of Bank Of India: Bank Of India Fraud. IANS
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The CBI today arrested two senior retired officers of Bank of India in connection with alleged loan fraud of Rs 2,654 crore by Vadodara-based Diamond Power Infrastructure Ltd. (DPIL) in the bank. V V Agnihotri and P K Shrivastava, retired GM and DGM respectively, had allegedly granted undue favours to the company in granting credit limits, the officials said.

They said both have been arrested today and will be produced before special court in Ahmedabad tomorrow.The promoters of the company were arrested in April this year. The agency in an FIR had said that the DPIL, which manufactures electric cables and equipment, is promoted by Suresh Narain Bhatnagar and his sons Amit and Sumit, who are also the directors of the firm.

Bank of India
Bank of India. Flickr

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The loan, it said, was declared a non-performing asset in 2016-17. “It is alleged that the DPIL, through its management, fraudulently availed credit facilities from a consortium of 11 banks (both public and private) since 2008, leaving behind an outstanding debit of Rs 2,654.40 crore as of June 29, 2016,” the agency had said. (IANS)

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Xiaomi Drops Down Smartphone Prices in India

This is the first time when the smartphone market is at par with the feature phone market, each contributing 50 per cent to the overall mobile phone market

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Xiaomi cuts prices of 5 smartphones in India.

Chinese smartphone maker Xiaomi on Friday announced that it was permanently cutting the prices of five of its handsets in India, a day after the International Data Corporation (IDC) declared that the company was the market leader in the third quarter of 2018 in the country.

“We are delighted to share that we have seen a reduction in component costs of some of our best-selling phones. We were announced as the number one smartphone vendor in India for the fifth consecutive quarter, as per IDC Quarterly Mobile Phone Tracker.

“As a celebration of that, Xiaomi is announcing price cut for five smartphones,” the company said in a statement.

Xiaomi
Chinese smartphone maker Xiaomi on Friday announced that it was permanently cutting the prices of five of its handsets in India.

The 4GB+64GB variants of Redmi Note 5 Pro, Mi A2 and Redmi Y2 are now available for Rs 13,999, Rs 15,999 and Rs 11, 999, respectively while the prices of 6GB+128GB variants of Redmi Note 5 Pro and Mi A2 have dropped to Rs 15,999 and Rs 18,999, respectively.

According to the IDC report, the Chinese handset maker shipped 11.7 million units and became the top brand in the Indian market with 27.3 per cent share in the third quarter this year.

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This is the first time when the smartphone market is at par with the feature phone market, each contributing 50 per cent to the overall mobile phone market. (IANS)