The Haryana government has suspended two IAS officers, Ram Kumar Singh and Pardeep Kumar, in connection with an ongoing investigation into a Rs 590-crore fraud case involving IDFC First Bank.
The Ram Janmabhoomi Teerth Kshetra Trust secretary, Champat Rai, has declined to provide financial details, including income, expenditure, and donations, citing an ongoing Special Investigation Team (SIT) probe. This decision follows a complaint to the Prime Minister's Office by BJP leader Rajneesh Singh, seeking transparency on the utilisation of funds for the Ram temple project.
Maharashtra School Education Minister Dada Bhuse stated that despite 5.5 lakh students having non-updated Aadhaar IDs, no student is being deprived of government scheme benefits or facing educational hurdles. He clarified that the government is actively conducting special camps and has issued instructions to ensure continuous access to education and benefits while the update drive is underway.
Amitabh Jhunjhunwala, former Managing Director of the Anil Dhirubhai Ambani Group, has been remanded in CBI custody in an alleged bank fraud case involving Reliance Commercial Finance Limited (RCFL) worth Rs 9,280 crore. The CBI alleges misappropriation of loan funds and violations of RBI guidelines, while Jhunjhunwala's lawyers claim he is a scapegoat.
These new provisions are expected to help heirs access securities faster.
'Buy on dips, buy on dips and sell on rise.'
'During the bank's board meeting, many directors asked him if there is a governance issue but he said there is none.'
Indian benchmark indices Sensex and Nifty rallied in early trade, driven by a significant decline in Brent crude oil prices, which fell below the USD 73 per barrel level, and positive trends observed across most Asian equities.
Indian benchmark indices Sensex and Nifty surged in early trade, driven by a rally in IT stocks and tempered expectations of US Federal Reserve monetary tightening following softer-than-expected US jobs data. Track Sensex, Nifty on July 3.
Indian benchmark indices, Sensex and Nifty, experienced a decline in early trade due to uncertainty surrounding the upcoming US-Iran negotiations in Doha. Foreign fund outflows and a dip in major IT stocks further contributed to the market's cautious sentiment, despite mixed performance in global markets.
'...Or will we take a positive approach and learn from those mistakes so that it is not repeated in future?'
Police in Meerut have arrested two individuals for allegedly running a fake Common Service Centre (CSC) to open fraudulent bank accounts using forged documents of unsuspecting, needy people. The accused used these accounts for online financial frauds, leading to the recovery of numerous fake IDs, bank cards, and other incriminating evidence.
Kerala Police chief Ravada Chandrasekhar highlighted cyber fraud as a serious social challenge, particularly targeting youth, during the inauguration of 'RBI Reelathon 2026'. This multi-phase awareness campaign by the Reserve Bank of India aims to engage college students in combating cyber financial frauds through creative content creation and timely reporting.
The CBI has filed two chargesheets in connection with the siphoning of Rs 657 crore from Haryana government and Chandigarh Smart City Limited funds held at IDFC First Bank. The fraud involved fictitious transactions, shell entities, and alleged gold purchases and real estate investments, with IDFC First Bank having already reimbursed the Haryana government.
Indian benchmark stock indices, Sensex and Nifty, advanced for the second consecutive day, driven by softening crude oil prices and a positive trend in global markets. Despite some profit-taking in IT and metal shares, auto stocks outperformed, contributing to the overall gains.
An Home Loan Protection Plan repays the outstanding loan if the borrower dies or suffers a covered disability.
Delhi Police have arrested three individuals for allegedly defrauding a resident of Rs 15.26 lakh by promising to increase his credit card limit. The fraudsters used mule bank accounts to channel the illicit funds, and police recovered several devices used in the crime.
The Bombay High Court has directed HDFC Bank to refund Rs 38 lakh to a Pune businessman who lost the amount in a digital fraud, citing the account holder's lack of fault and RBI guidelines on customer protection.
A 52-year-old labourer, Santosh Kumar Gupta, has been arrested in New Delhi for allegedly facilitating an online investment fraud by lending his bank account to route Rs 5 lakh of defrauded money. He is suspected of acting as an India-based facilitator for an international cyber fraud network.
Private sector lender Yes Bank reported a 45 per cent increase in its March quarter net profit to Rs 1,068 crore, with its new managing director and CEO, Vinay M. Tonse, signalling the end of its over six-year-long recovery phase and a readiness to align loan growth with the broader banking sector.
Domestic institutional investors (DIIs), driven by the popularity of mutual funds, have emerged as significant stabilising forces for Indian capital markets amidst global volatility and foreign portfolio investment (FPI) outflows, according to Sebi whole-time member Amarjeet Singh.
'Why not aspire for 8 or 9 or even 10 per cent?'
The Badminton Association of India (BAI) has invited Expressions of Interest (EOI) from various organisations to conceptualise, develop, and manage a new professional badminton league in India. The initiative aims to create a sustainable league structure focused on commercialisation, fan engagement, and long-term growth of the sport. Interested parties must demonstrate strong financial capability and experience in managing sports leagues, with proposals due by June 30.
Zelle, a major US peer-to-peer payment service, is set to launch in India by the end of this year, marking its first international expansion. The move aims to tap into India's large remittance market, offering a service similar to UPI but integrated with bank apps. Zelle also introduced ZelleUSD, a stablecoin for future global payment capabilities.
The Reserve Bank of India (RBI) has unveiled draft norms for branch authorisation and business correspondents (BCs), introducing a two-tiered classification for BCs and redefining 'banking outlets' to include BC-Banking Outlets (BC-BOs), aiming to expand formal banking presence, particularly in rural areas.
The Enforcement Directorate has uncovered a sophisticated organ trafficking racket in Kerala, operating under the guise of a medical tourism company. The network exploited financially distressed donors, forging documents and facilitating illegal transplant procedures at major hospitals, leading to arrests and freezing of assets.
Madhya Pradesh Chief Minister Mohan Yadav's family is under scrutiny after an Indian Express newspaper report revealed their extensive land purchases in Ujjain, particularly in areas benefiting from state infrastructure projects, raising questions of propriety and conflict of interest.
Foreign Portfolio Investors (FPIs) withdrew Rs 49,340 crore (USD 5.16 billion) from Indian equities in June, driven by global risk aversion, a preference for developed markets, soaring US bond yields, and stretched domestic valuations, bringing total withdrawals to Rs 2.7 lakh crore so far in 2026.
'But two things worked against them: People kept coming forward, and -- crucially -- these were not outsiders.'
Market benchmark indices Sensex and Nifty drifted lower in early trade on Monday amid renewed hostilities between the US and Iran. The 30-share BSE Sensex declined 63.65 points to 77,047.63 during initial trading. The 50-share NSE Nifty went marginally up by 16.55 points to 24,070.20. Later, the BSE benchmark dropped 246.54 points to 76,853.93, and the Nifty dipped 50.55 points to 24,005.45. Track Sensex, Nifty on June 29.
Indian benchmark indices Sensex and Nifty closed flat, paring early gains due to renewed hostilities between the US and Iran, which unsettled investor sentiment and led to profit booking in metal, oil & gas, and telecom shares.
The Indian banking system's net liquidity surplus has reached a four-year high of Rs 4.57 trillion, driven by maturing government securities, with further maturities expected to push the surplus to around 5 trillion.
A Delhi court has granted transit remand to Telangana Police for two Delhi-based bank employees arrested in connection with a cyber fraud targeting a retired doctor in Hyderabad.
The first thing cardholders should do after spotting a suspicious charge is block the card.
'My resignation is a larger governance and governance-plus kind of an issue, which the board of directors of the bank should be introspecting.'
Investigators recovered nearly Rs 80 lakh in cash and some foreign currency from six of the accused.
Madhya Pradesh Congress MLA Rajendra Bharti has been disqualified from the state legislative assembly after being convicted in a bank fraud case involving the tampering of bank records. The disqualification has sparked a political row, with the Congress party alleging a violation of democratic process.
'The real shock is going to be from a deficient monsoon.'
Haryana Chief Minister Nayab Singh Saini announced a CBI investigation into the Rs 590-crore IDFC First Bank fraud case, emphasising the government's zero-tolerance approach to wrongdoing. The State Vigilance and Anti-Corruption Bureau had previously investigated the case, arresting several individuals, including ex-IDFC First Bank employees. The alleged fraud involved the diversion of Haryana government funds intended for fixed deposits.
Indian benchmark equity indices, Sensex and Nifty, extended their rally for a fifth consecutive session, driven by optimism surrounding a potential US-Iran peace deal and a significant drop in crude oil prices. Despite hawkish remarks from the US Fed, investors remain hopeful that easing energy prices could temper inflationary pressures.
