'Financially we are sound and we have always broken even. 'It is just we don't have the personnel and that is why we have to close down.'
The Enforcement Directorate (ED) has accused Karnataka Congress MLA K C Veerendra of collecting over Rs 2,000 crore through online betting sites. The agency alleges that Veerendra and his associates used various gateways and fintech service providers to mask their illicit activities.
'To encourage the habit of saving, a portion of the incentive will be kept in a savings instrument of deposit account for a fixed period and can be withdrawn by the employee at a later date.'
A grooming branch network for servicing HNIs is a stepping stone for a full-fledged wealth management business.
Its August 11 direction, which prohibits the release of stray dogs from dog shelters, shall be kept in abeyance for the time being, the apex court said.
The stage is set for a direct contest between NDA nominee C P Radhakrishnan and joint opposition candidate B Sudershan Reddy for the vice-presidential election. The BJP-led alliance has a clear edge in the poll necessitated due to the sudden resignation of Jagdeep Dhankhar.
Pakistan's Prime Minister Shehbaz Sharif on Thursday thanked United States President Donald Trump for the 'historic' trade agreement reached between Islamabad and Washington, and expressed hope that it would expand cooperation between the two nations.
The next generation GST reforms would 'absolutely' set an economy open and transparent with further reduction in compliance burden and benefiting small businesses, Union Finance Minister Nirmala Sitharaman said on Tuesday.
Jarange's hunger strike at the Azad Maidan in south Mumbai over the demand for Maratha quota entered the fifth day on Tuesday.
After the State Bank of India, Bank of India has classified the loan account of insolvent Reliance Communications as fraudulent and named its former director, tycoon Anil Ambani, citing alleged fund diversion in 2016, according to a regulatory filing. State-owned Bank of India granted a Rs 700 crore loan in August 2016 to Reliance Communications for its ongoing capital and operational expenditure and repayment of existing liabilities.
Vidhie Mukerjea, a key witness in the Sheena Bora murder case, denied making a statement to probe agencies, claiming documents in the CBI chargesheet were forged. She also alleged that Rahul and Rabin Mukerjea stole her mother's assets and had a motive to falsely implicate her.
In Q1FY26, the bank reported fresh slippages of 8,200 crore, up 71 per cent Y-o-Y and sequentially. Of this, 7,500 crore is from the retail segment.
The tree, about seven years old, will be transplanted near the Prerna Sthal, which houses the statues of national icons and freedom fighters that were earlier at different places on the premises.
A BSF constable was arrested for robbing a Delhi jewellery store with a toy gun after allegedly being inspired by crime shows and incurring losses in online gambling.
Ask rediffGURU and PF, MF and insurance expert Purshotam Lal your mutual fund, insurance and personal finance-related questions.
India's economic growth is expected to be lower at 6.3 per cent this fiscal compared to the RBI's projection of 6.5 per cent, a SBI Research Report said on Thursday. The report pegged the first quarter GDP estimate at around 6.8-7 per cent, mainly due to muted private capex.
The Gujarat High Court has directed a man to deposit Rs 1 lakh after he attended a virtual court hearing while relieving himself on a toilet seat. The incident prompted suo motu contempt proceedings.
'Reits are suitable for investors seeking regular income and real estate exposure without managing physical properties, especially NRIs and retirees.'
Ask rediffGURU and tax expert Mihir Tanna your income tax-related questions.
Whenever possible, the karta or head of the family should openly discuss the future distribution of movable and immovable property with all legal heirs.
Cross-check key documents, maximise your deductions, avoid errors, and ensure you get your refund smoothly.
Most lenders that have reported their April-June business update posted slower growth in deposits sequentially as compared to the loan growth in the April-June quarter of 2024-25 (FY25). Current and savings account (CASA) deposits continue to face pressure. Private-sector lenders YES Bank, Bandhan Bank, and RBL Bank saw their deposit growth contract by 0.5 per cent, 1.5 per cent, and 2 per cent, respectively.
India Inc, which is sitting on cash balances of 13.5 trillion, is using the funds to meet capital expenditure as well as brownfield expansion, resulting in 'anaemic' demand for bank loans, State Bank of India (SBI) chairman CS Setty said at an event on Monday. He added that a slowdown in corporate credit is mainly due to lack of demand.
The Centre told the bench that compensation to the beneficiaries was already paid and the land was acquired but subsequently, one person, on the strength of a power of attorney, filed a reference case.
A couple from Kerala, running a chit fund company in Bengaluru, has allegedly fled after cheating over 1,300 investors of more than Rs 50 crore. Police have launched a manhunt and are investigating the extent of the fraud.
'Sebi's measures are necessary to align the derivatives market with its underlying cash market, as the current disconnect is unsustainable.'
'One Chinese interlocutor said India should realise that "China can do without India, but India could not do without China", pointing to its inability to do without Chinese intermediates and components,' former foreign secretary Shyam Saran discovers on a visit to China.
The Enforcement Directorate (ED) has frozen Rs 110 crore and seized 1,200 mule credit cards following searches against the Indian operations of Parimatch, a Cyprus-based online betting platform, for alleged money laundering and cheating investors.
The stage is set for a direct contest between NDA nominee C P Radhakrishnan and joint opposition candidate B Sudershan Reddy for the September 9 vice-presidential election. Nominations have been scrutinized and accepted.
The high-value Rs 2000 notes worth Rs 6,099 crore are still in circulation even after two years of the Reserve Bank withdrawing the currency, according to official data released on Tuesday. Rs 2000 banknotes continue to be legal tender.
'In the case of corporate credit, especially to AAA borrowers, lenders will have to take a fresh look at pricing.'
Around 60 per cent of India's Uber rich wealth is still parked in real estate and gold, according to a report by Bernstein. Uber rich individuals includes Ultra High Net Worth Individuals (UHNI), High Net Worth Individuals (HNI), and the Affluent class.
Office space owners are looking at good times ahead as rentals are expected to rise due to demand for Grade A office spaces outpacing supply that has been sluggish due to construction delays, long gestation periods and developers' interests shifting to residential.
The IBPS clerk application form for 2025 will be released on July 31. The IBPS Clerk preliminary exam 2025 is scheduled to be held on October 4, 5 and 11.
The fear of losing purchasing power due to inflation and low-interest rates has led many to explore safe alternatives to fixed deposits with high returns
UPI has catapulted India into the forefront on the global digital payments landscape. Working hand in hand, the AePS payments system is making life easy for rural folks, notes Tamal Bandyopadhyay.
In the past 10 years, over 500 PSB officers have died by suicide. When targets are overwhelming, senior management and customers are both impatient, and there is constant fear, not every banker has the resilience to survive and thrive, warns Tamal Bandyopadhyay.
The Indian government has introduced a bill in the Lok Sabha to ban online games played with money, aiming to curb addiction, money laundering, and financial fraud. The bill also targets advertisements and financial transactions related to such games.
So, the next time someone tempts you with a slightly higher FD rate from a lesser-known bank, point them to hybrid funds that can deliver extra returns without the administrative and emotional rollercoaster.
For the time being, the RBI is done with the cuts. A cut in October, which many are still predicting, is not certain. Of course, if growth nosedives, the script will be different, expects Tamal Bandyopadhyay.
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