Biz Updates: MTNL accounts frozen for non-payment of dues
New Delhi| Union Bank of India has frozen all the accounts of government telecom company MTNL for non-payment of dues. Debt-ridden MTNL said that the bank informed the company on August 21 about the frozen accounts for non-payment of dues. Let us tell you that earlier this month MTNL had informed the stock exchanges that it had defaulted on bank loan payments of Rs 422.05 crore. The loss-making telecom company has borrowed a total of Rs 7,873.52 crore from banks and financial institutions. The total debt of the company is Rs 31,944.51 crore. Telangana Cyber Security Bureau has arrested two accused, including the branch manager of SBI, in 175 crore rupees cyber fraud case. The bureau said Madhu Babu, branch manager of the Shamsheerganj-based bank, colluded with the fraudsters. Helped in opening current bank accounts, withdrawing funds and other purposes in exchange for commission. Gym trainer Sandeep Sharma has also been arrested in this case. So far four arrests have been made in this case.
Amid Reserve Bank of India (RBI) Governor Shaktikanta Das’s demand for greater efficiency in cross-border transactions, a senior US central bank official on Wednesday said that smooth or hassle-free cross-border payments will prevent money laundering and terrorism financing. Addressing the ‘Global Fintech Fest 2024’ here, Christopher Jay Waller, a member of the Federal Reserve’s board of directors, said, not all deadlocks that slow down payments get worse.
