The World Bank entered the advanced stage of sanctioning $2.6 billion under a special loan scheme to India.

Out of $2.6 billion, Small Industries Development Bank of India (SIDBI) will get a $400-million loan, India Infrastructure Finance Company (IIFCL) $1 billion and Power Grid Corporation a $1.2-billion loan.

Washington - Disgraced financier Bernard Madoff will go to jail after admitting in court Thursday to a 50-billion-dollar fraud that entwined hundreds of investors around the world and has made him the poster-child of Wall Street greed in the current financial crisis.

Madoff pleaded guilty to all 11 criminal counts, telling the lower Manhattan federal court that he was "deeply sorry and ashamed," according to broadcaster CNBC. Judge Denny Chin accepted the guilty plea and said Madoff would go to prison until he is sentenced on June 16.

Washington  - Disgraced financier Bernard Madoff pleaded guilty in court Thursday to a 50-billion-dollar fraud that entwined hundreds of investors around the world and has made him the poster- child of Wall Street greed in the current financial crisis.

Madoff pleaded guilty to all 11 counts of fraud, telling the lower Manhattan federal court that he was "deeply sorry and ashamed," according to broadcaster CNBC. Judge Denny Chin is expected to accept the guilty plea before deciding whether Madoff can post bail or be remanded into custody while he awaits sentencing.

Washington  - Disgraced financier Bernard Madoff pleaded guilty in court Thursday to a 50-billion-dollar fraud that entwined hundreds of investors around the world and has made him the poster- child of Wall Street greed in the current financial crisis.

Madoff pleaded guilty to all 11 counts of fraud in a lower Manhattan federal court, according to broadcaster CNBC. The judge is expected to accept the plea before deciding whether Madoff can post bail or be remanded into custody while he awaits sentencing.

Geneva  - A Swiss private bank said Thursday that it would buy back from eligible clients their exposure to the fraudulent scheme run in the United States by Bernard Madoff at 50 per cent of the original cost.

Union Bancaire Privee (UBP) said the "goodwill gesture" towards it clients would see the bank pay for the purchase of the investments over the course of five years.

UBP also announced moves within the bank to improve risk management and research.

Washington  - Disgraced financier Bernhard Madoff pleaded guilty in court Thursday to a 50-billion-dollar fraud that entwined hundreds of investors around the world, US media reported.

Madoff pleaded guilty to all 11 counts of fraud in a lower Manhattan federal court, according to broadcaster CNBC. The investor faced criminal counts including securities fraud, mail fraud, wire fraud, three counts of money laundering and filing false statements with the Securities and Exchange Commission (SEC).