More than €13,000 of suspected drugs, cash and counterfeit cash seized…

first_imgTwitter NewsMore than €13,000 of suspected drugs, cash and counterfeit cash seized in LimerickBy Staff Reporter – May 7, 2020 493 Email Advertisement Linkedin GARDAÍ have arrested a man and seized over €13,000 of suspected drugs, cash and counterfeit cash in Shanagolden, Co Limerick on May 6, 2020.As part of an ongoing operation targeting the sale and supply of drugs in the West Limerick and North Kerry areas, Gardaí from the Newcastle West District Drugs Unit executed a search warrant at a house on Main Street in Shanagolden at around 3pm.Sign up for the weekly Limerick Post newsletter Sign Up During the course of the search Gardaí seized €4,900 of suspected cocaine, €7,000 cash and €520 of suspected counterfeit cash. A car and a false driving licence was also seized during the search.  A man, aged in his 30s, was arrested at the scene and brought to Newcastle West Garda Station. He has since been released and a file will be prepared for the Director of Public Prosecutions.A follow up search was later conducted at a house in the Abbeyfeale area which resulted in the seizure of a car and €700 of suspected cocaine. No arrest was made following this search but Gardaí are following a definite line of enquiry.All of the suspected drugs will now be sent for analysis.center_img Facebook WhatsApp Print Previous articleHospitality trade can lead Limerick out of lockdownNext articleLimerick Post Show | Basking Sharks off Clare Coast Staff Reporterhttp://www.limerickpost.ielast_img read more

‘Banks Not Passing Benefits Of Multiple Cuts In Policy Rates To Customers’: Plea In SC Seeks Extension Of RBI Loan Moratorium, Fixation Of Lending Rates

first_imgTop Stories’Banks Not Passing Benefits Of Multiple Cuts In Policy Rates To Customers’: Plea In SC Seeks Extension Of RBI Loan Moratorium, Fixation Of Lending Rates LIVELAW NEWS NETWORK7 Aug 2020 7:02 AMShare This – xA writ petition has been filed in the Supreme Court seeking the extension of the loan moratorium announced by the Reserve Bank of India beyond August 31 for a period of 18 months.The petition filed by Coimbatore Jewellery Manufacturers Association also seeks a direction to the RBI to fix the lending rates of banks by contending that “banks have failed to pass on the benefits of reduced rates…Your free access to Live Law has expiredTo read the article, get a premium account.Your Subscription Supports Independent JournalismSubscription starts from ₹ 599+GST (For 6 Months)View PlansPremium account gives you:Unlimited access to Live Law Archives, Weekly/Monthly Digest, Exclusive Notifications, Comments.Reading experience of Ad Free Version, Petition Copies, Judgement/Order Copies.Subscribe NowAlready a subscriber?LoginA writ petition has been filed in the Supreme Court seeking the extension of the loan moratorium announced by the Reserve Bank of India beyond August 31 for a period of 18 months.The petition filed by Coimbatore Jewellery Manufacturers Association also seeks a direction to the RBI to fix the lending rates of banks by contending that “banks have failed to pass on the benefits of reduced rates of interest to their customers despite multiple cuts in policy rates (repo, reverse repo and bank rate) made by RBI”.It was on March 27 that the RBI Governor, Shaktikanta Das, announced the decision allowing banks and lending institutions to allow moratorium for term loans from March 1 to May 31. On May 22, the moratorium period was further extended till August 31.The writ petition filed Coimbatore Jewellery Manufacturers Association states that the economy is yet to recover from the losses inflicted by the COVID-19 pandemic and the nationwide lockdown. It is pointed out that several regions of the country continue to be under lockdown.”Thus, most businesses, including those of the members of the Petitioner association have not been able to restart operations. The crisis has worsened because of workers employed by the members of the Petitioner association, shifting back to their home states.The Petitioners submit that periodic extensions in the moratorium period will lead to further economic uncertainty and speculation. It is in this background that the Petitioners seek a direction that Respondent No.2, fix the moratorium period to 18 months”, reads the plea filed through Advocate Pranjal Kishore.Benefits of reduction in policy rates not passed on to the customersAnother issue highlighted in the petition is regarding the non-reduction of lending rates by the banks in proportion with the cutting down of policy rates by the Reserve Bank of India.It is pointed out that the repo, reverse repo and bank rates have been reduced on 5 separate occasions since 2019. The repo rate was reduced by a total of 135 basis points in 2019. These reductions in policy rates have been accompanied by a reduction in the Statutory Liquidity Ratio (“SLR”). The SLR which stood at 19.25% in April, 2019 has now been reduced to 18%.The following table is incorporated in the petition to highlight the issue:”It is clear from a bare perusal of the above, that banks have not reduced interest rates in accordance with the reduction in policy rates by the Respondent No.2. As such, even though Respondent No.2 has reduced these rates in order to provide succour to citizens, it is banks that have profited from these reductions”, the plea states. Despite the repo rate, the reverse repo rate and the bank rate being the lowest ever, there has been no corresponding decline in the rate of interest on loans given out by banks.It is pointed out that the Ministry of Finance had issued a directive in September 2019 “to link all new floating rate personal or retail loans (housing, auto, etc.) and floating rate loans to Micro and Small Enterprises extended by banks with effect from October 01, 2019 to external benchmarks.” These external benchmarks include the repo rate, government of India treasury bill yield etc. The petitioner laments that despite this directive, banks have failed to reduce interest rates of even floating interest rate loans.The petition states that the RBI has the power to fix the lending rates as per Section 21 and 35A of the Banking Regulation Act, 1949.The petitioner submits that the power to issue directions under Section 21 and 35-A is coupled with the duty to act in the public interest.”It is humbly submitted that the Reserve Bank of India has taken various policy decisions in order to reduce the rate of interest on loans advanced by banking companies. However, the benefits of these decisions have not percolated to citizens, because of banks failing to reduce the rates of interest on advances. It is thus submitted that this is a fit case for the Respondent No.2 to exercise its powers under Section 21 read with Section 35A of the Banking Regulation Act, 1949 in order to fix the rate of interest at which loans are advanced by banking companies”, the plea states.The plea also seeks waiver of levy on interest during the moratorium period. The accrual of interest defeats the purpose of Emergency Credit Line Guarantee Scheme (ECLGS), states the petition.On July 27, a bench comprising Justices Ashok Bhushan, R Subhash Reddy and M R Shah issued notice on the petition. The petition has been tagged along with the batch case challenging the levy of interest during the moratorium period and will be taken up next on August 28.Senior Advocate Sanjay Hegde appeared for the petitioner. Next Storylast_img read more

Brundidge raid uncovers unlawful sale of alcohol

first_img You Might Like Bill Rice joins Pike County Economic Development Corporation Former Trojan Bill Rice has joined the staff of the Pike County Economic Development Corporation as the office manager and… read more The Penny Hoarder Issues “Urgent” Alert: 6 Companies… Latest Stories Print Article Pike County Sheriff’s Office offering community child ID kits “You can’t go and kick down a door just because you suspect illegal activity,” Davenport said. “You have to have proper evidence to obtain a search warrant. In this investigation, a controlled buy was made and a search warrant was issued. We were able to go in Friday and seize the alcohol.”The police department was joined by the Pike County Sheriff’s Department and the State Bureau of Investigation Alcohol Division at 5:05 p.m. Friday at the home at 249 Main Street to execute the search warrant into the home.Davenport said a crime does not constitute immediate incarceration. Brundidge raid uncovers unlawful sale of alcohol By Jaine Treadwell Email the author Published 3:00 am Tuesday, July 3, 2018 Skip By The Penny Hoarder “She (Felicia Glasco) will have to appear in court and the court will decide,” he said. “This is her first-time offense, so she does not have habitual offender status. We have issued the citation; it will be up to the court now.”The first offense of the unlawful sale of alcohol is a misdemeanor punishable by a fine of $100 to $1,000 and imprisonment in the county jail or hard labor for the county for up to six months. The Brundidge Police Department recovered a plastic bin full of alcohol Friday from a residence on Main Street where officers believed the beverages were being sold unlawfully.“A large amount of alcohol was seized from the residence,” said Chief Moses Davenport. “The alcohol seized included beer, wine, liquor and moonshine.The owner of the residence, Felicia Glasco, was issued a citation for the sale of alcohol without a license and for possession of untaxed liquor or moonshine.Davenport said the Brundidge Police Department had been working on this case for about a year. Plans underway for historic Pike County celebration Davenport said his department is working diligently to put a lid on crime in Brundidge.“We are aware of illegal activity and are working to shut it down,” he said. “But we need the community to get involved. If you suspect illegal activity, call 334-735-3333 and report it. If the community will get involved, we can put a stop to much of this criminal activity.” Troy falls to No. 13 Clemson Book Nook to reopen Sponsored Content Remember America’s heroes on Memorial Day Around the WebMd: Do This Immediately if You Have Diabetes (Watch)Blood Sugar BlasterIf You Have Ringing Ears Do This Immediately (Ends Tinnitus)Healthier LivingHave an Enlarged Prostate? Urologist Reveals: Do This Immediately (Watch)Healthier LivingWomen Only: Stretch This Muscle to Stop Bladder Leakage (Watch)Healthier LivingRemoving Moles & Skin Tags Has Never Been This EasyEssential HealthBet You’re Pretty Curious About Jaden’s Net Worth Right About Now, HuhBradofoThe content you see here is paid for by the advertiser or content provider whose link you click on, and is recommended to you by Revcontent. As the leading platform for native advertising and content recommendation, Revcontent uses interest based targeting to select content that we think will be of particular interest to you. We encourage you to view your opt out options in Revcontent’s Privacy PolicyWant your content to appear on sites like this?Increase Your Engagement Now!Want to report this publisher’s content as misinformation?Submit a ReportGot it, thanks!Remove Content Link?Please choose a reason below:Fake NewsMisleadingNot InterestedOffensiveRepetitiveSubmitCancellast_img read more