Atanu Chakraborty has resigned as chairman of HDFC Bank, citing ethical concerns, marking an unusual departure and prompting the appointment of an interim chairman.
'Being an important institution in the banking system, we are subject to regulatory supervision, both offsite and onsite.' 'When you look at the intensity at which these levels of supervision come, we, on the board and in management, believe there should not be any surprises.'
HDFC Bank's leadership addresses the sudden resignation of its chairman, citing ethical concerns, and attempts to reassure stakeholders about the bank's governance and future stability.
The Reserve Bank of India (RBI) has issued a statement assuring the public of HDFC Bank's stability and sound financial position following the resignation of its chairman, Atanu Chakraborty, citing ethical concerns.
ICICI Bank has received a demand notice of 768.6 crore from tax authorities for alleged short payment of GST, related to services provided to customers maintaining minimum balances.
Police in Gadag, Karnataka, have arrested five men for allegedly luring students with false promises of scholarships to open bank accounts for illegal transactions.
A bank manager in Ghaziabad was shot dead by a security guard following disputes over salary and leave, leading to the arrest of the guard and an accomplice.
Jio Payments Bank introduces UPI-based cash withdrawals at business correspondent touchpoints, enhancing financial inclusion and simplifying access to cash for rural and semi-urban customers.
A consumer commission in Nagpur, Maharashtra, has penalised Axis Bank for deficiency in service, ordering a refund and compensation to a customer over a failed ATM transaction from 2018.
A special CBI court in Mumbai has sentenced four individuals to imprisonment for their involvement in a 2012 case where the Bank of India suffered a loss of over Rs 3 crore due to a forged Letter of Credit.
'Statutory power must be exercised in a manner that is fair, proportionate, and not excessive.' 'The authority must demonstrate a rational nexus between the property frozen and the alleged offence.'
A local court in Mumbai has accepted the police's closure report in the alleged Rs 25,000 crore scam at the Maharashtra State Cooperative Bank (MSCB), giving a clean chit to the late deputy chief minister Ajit Pawar and other accused.
The Enforcement Directorate has frozen 90 bank accounts following searches related to the alleged siphoning of Rs 590 crore of Haryana government funds through IDFC First Bank, involving shell companies and bogus billing for gold purchases.
Haryana State Vigilance and Anti-Corruption Bureau arrests 11 individuals, including bank employees and a government official, in connection with a fraud case involving IDFC First Bank and the illegal diversion of government funds.
Prime Minister Narendra Modi has accused the TMC of opposing the SIR exercise to protect its vote bank of infiltrators, alleging that unchecked illegal immigration under its rule in West Bengal has altered the demography of many areas.
A jeweller has been arrested in Haryana in connection with a Rs 590 crore fraud at IDFC First Bank. The investigation revealed that over Rs 250 crore was routed to the jeweller's firm from companies linked to the accused.
The State Consumer Disputes Redressal Commission has directed Bank of India to compensate a senior citizen for losses incurred due to unauthorized ATM transactions, citing deficiency in service and failure to adhere to security protocols.
Yes Bank has launched a salary account designed for working women, offering financial protection, healthcare benefits, lifestyle privileges, and wealth-creation opportunities.
Six masked men looted Rs 13 lakh from a nationalised bank branch in Jharkhand's East Singhbhum district, also snatching gold chains, mobile phones, and wallets of the staffers.
Fexo, an AI intelligence platform focused on the BFSI sector, has launched its AI decisioning engine for business loans, designed to help financial institutions accelerate AI adoption and improve decision-making processes.
Fino Payments Bank's MD and CEO, Rishi Gupta, has been arrested for violating Goods and Services Tax laws, prompting the appointment of Ketan Merchant as the interim head.
Fino Payments Bank asserts its compliance with GST regulations following the arrest of its MD and CEO, Rishi Gupta, by the Directorate General of GST Intelligence (DGGI). The bank clarifies that the investigation pertains to program managers associated with multiple banks and not the bank's own GST compliance.
The Enforcement Directorate (ED) has filed a prosecution complaint against Anil Nutrients Ltd, its director, and six others in connection with a money laundering case involving an alleged fraud of Rs 47.88 crore with Bank of India.
A Haryana government employee has been arrested in connection with the Rs 590 crore IDFC First Bank fraud case, which involved state government accounts and led to the recovery of nearly Rs 556 crore within 24 hours.
The BJP has criticised Rahul Gandhi for his delayed response to the killing of a 26-year-old man in Uttam Nagar, Delhi, accusing him of hypocrisy and pandering to vote bank politics. BJP leaders allege Gandhi is attempting to whitewash the incident and protect the perpetrators.
'...even though the investigation in the matter is ongoing, we have paid 100 per cent of the principal and interest to relevant departments of the Haryana government.'
Delhi Police arrested a 22-year-old woman for allegedly providing mule bank accounts to an interstate cybercrime network, recovering numerous ATM cards, cheque books, and electronic devices.
The Anti-Corruption Bureau registered an FIR, while the state government constituted a committee to examine the fraud.
Reliance Group chairman Anil Ambani did not appear before the Enforcement Directorate for questioning in a money laundering case linked to an alleged bank fraud. The ED is investigating loan fraud allegations against multiple Anil Ambani group companies.
A Delhi court has dismissed the bail plea of an alleged kingpin in an over Rs 8.94 crore bank fraud case, citing the gravity of the offence and its systematic execution through layered transactions.
The quantum of fraud detected by the bank is more than the 503 crore net profit it reported for the October-December quarter of 2025-2026.
IDFC First Bank reported a Rs 590 crore fraud involving its employees and others in accounts held by the Haryana government. The bank has informed regulators and filed a police complaint, initiating internal reviews and forensic audits.
'There is a challenge in repositioning yourself, maybe reinventing yourself.'
Abusive language, threats, harassment, excessive or anonymous calls, public humiliation, and misleading representations are explicitly prohibited.
Stock markets rebounded on Friday with the benchmark Sensex closing higher by 316 points after heavy buying in banking and metal shares amid optimism over trade deal progresses and India's participation in Pax Silica.
Equity benchmark indices Sensex and Nifty rebounded sharply by nearly 1 per cent on Monday, driven by strong buying in power, banking, and financial stocks.
India has joined over 100 countries and global organizations in condemning Israel's "unilateral" decisions and measures aimed at expanding its "unlawful presence" in the West Bank.
Benchmark equity indices Sensex and Nifty extended their gains for the third straight session on Wednesday, driven by last-hour buying in bank, metal, and FMCG shares.
Stock markets closed higher for the second straight session on Tuesday, driven by gains in bank, IT and capital goods shares.
In a move aimed at curbing the mis-selling of financial products, the Reserve Bank of India (RBI) has proposed banning incentives paid to bank staffers by third parties such as insurance companies and mutual fund houses for selling their products and services. It has also proposed that banks must ensure their user interfaces do not deploy "dark patterns" to lure customers.
© 2026 Rediff.com - Advertise with us - Disclaimer - Privacy Policy - Sitemap - Feedback - About us - Terms of use - Grievances