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A roundup of today’s news in brief

Girija Vaidyanathan replaces Tamil Nadu chief secy after tax raid at his house

Girija Vaidyanathan replaces Tamil Nadu chief secy after tax raid at his house

The Tamil Nadu government has appointed Girija Vaidyanathan as the state’s chief secretary, replacing P Rama Mohana Rao, a day after the Income Tax department raided his residence, office and other properties. The state government issued an order Thursday morning appointing Vaidyanathan, a 1981 batch IAS officer as the top bureaucrat.

Income Tax department detects Rs 3300 crore black income; seizes Rs 92 crore new notes

Income Tax department detects Rs 3300 crore black income; seizes Rs 92 crore new notes

Weeks after the Narendra Modi government banned use of old Rs 500 and Rs 1,000 notes, the Income Tax department has detected over Rs 3,300 crore of un-disclosed income while Rs 92 crore worth new notes have been seized it till now.Official sources said the taxman has carried out a total of 734 search, survey and enquiry operations under the provisions of the Income Tax Act since the note ban was declared on November 8, even as the department has issued over 3,200 notices to various entities on charges of tax evasion and hawala-like dealings, till yesterday.

Read more at: Zeenews India

'Demonetisation may have cost banks Rs 3000 cr per day'

'Demonetisation may have cost banks Rs 3000 cr per day'

On Wednesday, the Reserve Bank of India (RBI) withdrew its previous directive that required deposits above Rs 5,000 in old currency notes be justified to two bank officers. To understand the impact of this move, Business Standard spoke to the HARVINDER SINGH, general secretary of the All India Bank Officers Confederation. Read more at : Business Standard

Shapoorji Pallonji Group petition links Ratan, Tata Sons to AirAsia fraud, terrorism

Shapoorji Pallonji Group petition links Ratan, Tata Sons to AirAsia fraud, terrorism

Two investment companies of the Shapoorji Pallonji Group–Cyrus Investments and Sterling Investment Corp–have in a legal petition directly linked Tata Sons and Ratan Tata with the Rs 22 crore fraudulent transactions alleged to have been carried out in the conglomerate’s joint venture airline AirAsia India.

Read more at: Economic Times

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