Close Menu
TechCentralTechCentral

    Subscribe to the newsletter

    Get the best South African technology news and analysis delivered to your e-mail inbox every morning.

    Facebook X (Twitter) YouTube LinkedIn
    WhatsApp Facebook X (Twitter) LinkedIn YouTube
    TechCentralTechCentral
    • News
      Cell C launches 5G

      Cell C launches 5G

      21 August 2026
      MVNOs are doing the heavy lifting at Cell C - Jorges Mendes

      MVNOs are doing the heavy lifting at Cell C

      21 August 2026
      Hot rand is cold comfort for tech buyers

      Hot rand is cold comfort for tech buyers

      21 August 2026
      Joburg says it has bought its way out of an Eskom blackout

      Joburg says it has bought its way out of an Eskom blackout

      21 August 2026
      Management consulting as we know it is over

      Management consulting as we know it is over

      21 August 2026
    • World
      Russia building its own Starlink - and faster than expected - Vadym Skibitskyi

      Russia building its own Starlink – and faster than expected

      11 August 2026
      Meta AI will now tell parents if their teen is in crisis

      Meta AI will now tell parents if their teen is in crisis

      17 July 2026
      IBM shares crash 25% as AI upends software spending - Arvind Krishna

      IBM shares crash 25% as AI upends software spending

      15 July 2026
      Jony Ive's first OpenAI device: an AI smart speaker - Jony Ive and Sam Altman

      Jony Ive’s first OpenAI device: an AI smart speaker

      15 July 2026
      Stripe, Advent in talks to buy PayPal for $53-billion

      Stripe, Advent in talks to buy PayPal for $53-billion

      15 July 2026
    • In-depth
      Google DeepMind CEO Demis Hassabis. Image: John Sears

      The plan to stop AI from breaking the world

      16 July 2026
      The internet has a Strait of Hormuz problem

      The internet has a Strait of Hormuz problem

      15 July 2026
      AI boom sparks rally, frenzy and fear

      AI boom sparks rally, frenzy and fear

      11 June 2026
      Every plug-in hybrid on sale in South Africa, ranked by price - Lamborghini Temerario

      Every plug-in hybrid on sale in South Africa, ranked by price

      7 June 2026
      What Wi-Fi 8 will mean for wireless networks

      What Wi-Fi 8 will mean for wireless networks

      1 June 2026
    • TCS
      Meet the CIO | Discovery's Derek Wilcocks on AI, guardrails and growth

      Meet the CIO | Derek Wilcocks on how AI personalised Vitality

      13 August 2026
      TCS | Money just became native to the internet - Steven Boykey Sidley

      TCS | Money just became native to the internet – Steven Boykey Sidley

      12 August 2026
      TCS+ | Specops' Darren James on continuous trust in an AI world

      TCS+ | Specops’ Darren James on continuous trust in an AI world

      7 August 2026
      TCS+ | How AI is turning hardware into a subscription service - Shane van der Merwe Merchant West

      TCS+ | How AI is turning hardware into a subscription service

      6 August 2026
      TCS+ | Why South African workers must become supervisors of digital labour - Accelera Digital Group Cliff de Wit

      TCS+ | Why South African workers must become supervisors of digital labour

      31 July 2026
    • Opinion
      The author, Jannie van Zyl

      Selling vapour is corporate suicide in slow motion

      16 July 2026
      Brazil's online gambling crackdown is a lesson for South Africa

      How Amazon outmanoeuvred Starlink in South Africa

      15 July 2026
      The Popia problem with agentic AI - Herman Haasbroek

      The Popia problem with agentic AI

      14 July 2026
      The author, Fanie van Rooyen

      South Africa can still catch the AI wave – here’s how

      7 July 2026
      The author, Fanie van Rooyen

      The AI utopia South Africa can’t afford

      1 July 2026
    • Company Hubs
      • 1Stream
      • Africa Data Centres
      • AfriGIS
      • Altron Digital Business
      • Altron Document Solutions
      • Altron Group
      • Arctic Wolf
      • Ascent Technology
      • AvertITD
      • BBD
      • Braintree
      • CallMiner
      • CambriLearn
      • CM Telecom
      • Contactable
      • CYBER1 Solutions
      • Digicloud Africa
      • Digimune
      • Domains.co.za
      • ESET
      • Euphoria Telecom
      • HOSTAFRICA
      • Incredible Business
      • iONLINE
      • IQbusiness
      • Iris Network Systems
      • Kaspersky
      • LSD Open
      • Mitel
      • NEC XON
      • Netstar
      • Network Platforms
      • Next DLP
      • Ovations
      • Paracon
      • Paratus
      • Q-KON
      • SevenC
      • SkyWire
      • Solid8 Technologies
      • Telit Cinterion
      • Telviva
      • Tenable
      • Vertiv
      • Videri Digital
      • Vodacom Business
      • Vox
      • Wipro
      • Workday
      • XLink
    • Sections
      • AI and machine learning
      • Banking
      • Broadcasting and Media
      • Cloud services
      • Contact centres and CX
      • Cryptocurrencies
      • Education and skills
      • Electronics and hardware
      • Energy and sustainability
      • Enterprise software
      • Financial services
      • HealthTech
      • Information security
      • Internet and connectivity
      • Internet of Things
      • Investment
      • IT services
      • Lifestyle
      • Policy and regulation
      • Public sector
      • Retail and e-commerce
      • Satellite communications
      • Science
      • SMEs and start-ups
      • Social media
      • Talent and leadership
      • Telecoms
      • Watts & Wheels
    • Events
    • Advertise
    TechCentralTechCentral
    Home » News » Gupta accounts face regulatory scrutiny

    Gupta accounts face regulatory scrutiny

    By Agency Staff13 June 2016
    Twitter LinkedIn Facebook WhatsApp Email Telegram Copy Link
    News Alerts
    WhatsApp

    probe-640

    South African regulators are seeking details from India’s Bank of Baroda of accounts belonging to businesses owned by the Gupta family, intensifying scrutiny of the friends of President Jacob Zuma, according to a person close to the bank with knowledge of the situation.

    The regulators are asking questions regarding deposits and bank accounts Gupta family businesses hold at Baroda and are not implying the bank violated any rules in any way, the person said, declining to be identified because the information is not public. Bank of Baroda’s Mumbai-based spokesman didn’t respond to an e-mail and two calls to his office seeking comment.

    South Africa’s four biggest banks — Standard Bank, Nedbank, First National Bank and Barclays Africa — said this year they would stop doing business with the Guptas without saying why. KPMG stopped auditing Gupta-controlled businesses, ending a 15-year relationship.

    The ruling ANC and the state graft ombudsman in March started investigations into the Gupta family’s relationship with Zuma, after deputy finance minister Mcebisi Jonas said they had offered him the position of finance minister. The family denies approaching Jonas and says it will cooperate with any probe. Zuma also denies any wrongdoing.

    The Sunday Times on Sunday reported that the South African Reserve Bank and the Financial Intelligence Centre, which is overseen by the South African treasury, asked Baroda to provide documents detailing the Gupta family’s accounts. It cited a government official it didn’t identify. Treasury and central bank officials declined to comment, the newspaper said.

    The FIC didn’t immediately respond to a message left on the office phone of its communications department. “The South African Reserve Bank does not comment on specific matters of individuals or entities regarding investigations we may be involved in,” Bulelwa Boqwana, chief of staff at the Reserve Bank, said in an e-mailed response to questions.

    The Gupta family companies are “happy to work directly with the Reserve Bank to resolve any questions”, Nazeem Howa, the CEO of the Gupta family’s Oakbay Investments holding company, said by e-mailed statement. “We have had no contact from the Reserve Bank or any other institution.”

    Since arriving in South Africa from India in 1994, the Gupta family has built a business empire spanning computers, engineering, media and mining. Zuma’s son Duduzane is a shareholder or director in several of their companies.  — (c) 2016 Bloomberg LP

    • Written with assistance from Arabile Gumede and Kevin Crowley
    Follow TechCentral on Google News Add TechCentral as your preferred source on Google


    Barclays Africa Duduzane Zuma Financial Intelligence Centre FNB Jacob Zuma KPMG Mcebisi Jonas Nazeem Howa Nedbank Oakbay Oakbay Investments South African Reserve Bank Standard Bank
    WhatsApp YouTube
    Share. Facebook Twitter LinkedIn WhatsApp Telegram Email Copy Link
    Previous ArticleCape Town MyCiTi buses to get free Wi-Fi
    Next Article Microsoft to buy LinkedIn for $26bn

    Related Posts

    DA MP's fintech denies clients were kept in the dark - Mark Burke

    DA MP’s fintech denies clients were kept in the dark

    19 August 2026
    Absa's AI is writing its code and answering its calls - Johnson Idesoh

    Absa’s AI is writing its code and answering its calls

    19 August 2026
    South Afircan inflation breaks its upward run

    South African inflation breaks its upward run

    19 August 2026
    Company News
    Paratus Uganda first to market with Starlink service

    Paratus Uganda first to market with Starlink service

    21 August 2026
    Smarter operations take centre stage at Electra Mining Africa 2026

    Smarter operations take centre stage at Electra Mining Africa 2026

    20 August 2026
    Fidelity turns to Sigfox to spot fires before they start

    Fidelity turns to Sigfox to spot fires before they start

    19 August 2026
    Opinion
    The author, Jannie van Zyl

    Selling vapour is corporate suicide in slow motion

    16 July 2026
    Brazil's online gambling crackdown is a lesson for South Africa

    How Amazon outmanoeuvred Starlink in South Africa

    15 July 2026
    The Popia problem with agentic AI - Herman Haasbroek

    The Popia problem with agentic AI

    14 July 2026

    Subscribe to Updates

    Get the best South African technology news and analysis delivered to your e-mail inbox every morning.

    Latest Posts
    Cell C launches 5G

    Cell C launches 5G

    21 August 2026
    MVNOs are doing the heavy lifting at Cell C - Jorges Mendes

    MVNOs are doing the heavy lifting at Cell C

    21 August 2026
    Hot rand is cold comfort for tech buyers

    Hot rand is cold comfort for tech buyers

    21 August 2026
    Joburg says it has bought its way out of an Eskom blackout

    Joburg says it has bought its way out of an Eskom blackout

    21 August 2026
    © 2009 - 2026 NewsCentral Media
    Built and maintained by Chronon
    • Cookie policy (ZA)
    • TechCentral – privacy and Popia

    Type above and press Enter to search. Press Esc to cancel.

    Manage consent

    TechCentral uses cookies to enhance its offerings. Consenting to these technologies allows us to serve you better. Not consenting or withdrawing consent may adversely affect certain features and functions of the website.

    Functional Always active
    The technical storage or access is strictly necessary for the legitimate purpose of enabling the use of a specific service explicitly requested by the subscriber or user, or for the sole purpose of carrying out the transmission of a communication over an electronic communications network.
    Preferences
    The technical storage or access is necessary for the legitimate purpose of storing preferences that are not requested by the subscriber or user.
    Statistics
    The technical storage or access that is used exclusively for statistical purposes. The technical storage or access that is used exclusively for anonymous statistical purposes. Without a subpoena, voluntary compliance on the part of your Internet Service Provider, or additional records from a third party, information stored or retrieved for this purpose alone cannot usually be used to identify you.
    Marketing
    The technical storage or access is required to create user profiles to send advertising, or to track the user on a website or across several websites for similar marketing purposes.
    • Manage options
    • Manage services
    • Manage {vendor_count} vendors
    • Read more about these purposes
    View preferences
    • {title}
    • {title}
    • {title}