Indian banks are urging the Reserve Bank of India (RBI) to reconsider its new $100 million cap on net open foreign-exchange positions, warning that the directive could lead to significant mark-to-market (MTM) losses and force an accelerated unwinding of trades, potentially impacting FY26 earnings.
'In the (election) affidavit, he had declared Rs 1,400 crores as his assets. He has educational institutions, real estate, malls, etc.'
A 47-year-old man from Palakkad has been arrested for allegedly cheating a Thiruvananthapuram resident of over Rs 1.19 crore in an online trading scam.
rediffGURU T S Khurana answers readers' personal income tax queries
India Ratings and Research predicts the Reserve Bank of India (RBI) will maintain the repo rate at 5.25 per cent throughout FY27, despite potential inflationary pressures from higher fuel prices, with inflation expected to remain within the central bank's tolerance band.
A property near Heathrow Airport, London, worth Rs 7.5 crore has been attached by the Enforcement Directorate (ED) in connection with a bank loan fraud case involving Neo Corp International Ltd.
The Enforcement Directorate has attached properties worth over Rs 1,000 crore as part of its investigation into the alleged Chhattisgarh liquor scam, filing a fresh complaint against four additional accused.
Compared with a year ago, the effective cost of studying abroad for Indian students has increased by roughly 10%-12% due to currency depreciation and rising living costs.
RBI Governor Sanjay Malhotra stated that the central bank is closely monitoring whether the supply shock from the West Asia conflict will lead to a generalised price rise, potentially necessitating monetary policy action.
The company said Valcambi was the engine driving the group's business, but Valcambi's audited accounts showed revenues that were only a fraction of what the group reported. That raised a major red flag.
Former HDFC Bank chairman Atanu Chakraborty cites misselling of AT-1 bonds and underperformance as key reasons for his resignation, dismissing personal differences as a major factor.
A sub-inspector in Vrindavan, Uttar Pradesh, has been transferred and an inquiry ordered following a complaint alleging he assaulted a passerby without provocation.
'We won not (only) because we were able to carry out long-range precision strikes.' 'That is, of course, one of the reasons but we had better situational awareness about what's happening than Pakistan.'
Finance Minister Nirmala Sitharaman stated in the Lok Sabha that the Insolvency and Bankruptcy Code (IBC) has been a crucial factor in improving the health of India's banking sector, significantly aiding in the recovery of non-performing assets (NPAs).
The CBSE reported that its re-evaluation portal faced a series of cyberattacks, including a denial-of-service attack, while students accessed the platform for verification and re-evaluation of answer books.
A special PMLA court in Mumbai has remanded self-styled godman Ashok Kharat to the custody of the Enforcement Directorate (ED) until May 26 in connection with an alleged Rs 70 crore money laundering case.
Two individuals have been apprehended in Chhatrapati Sambhajinagar, Maharashtra, concerning the murder of a couple and their two children. The victims' dismembered remains were discovered in a suitcase along the Durgawati River in Bihar last week.
India's foreign exchange reserves saw a significant increase of USD 6.295 billion, reaching USD 696.988 billion for the week ending May 8, as reported by the Reserve Bank of India.
Veteran sports administrator and India's first Asian Games shooting gold medallist Randhir Singh was cremated in Haridwar. Singh died at his New Delhi residence after battling age-related ailments. He was 79.
Delhi Police's Economic Offences Wing has arrested two individuals, including a chartered accountant, in connection with a GST and VAT fraud involving the misuse of business credentials and dummy firms.
Police in Jamtara, Jharkhand, have arrested three individuals for allegedly defrauding people by obtaining bank account details under the guise of supplying LPG cylinders.
A corporator and three others have been arrested in Chhattisgarh's Mahasamund district for allegedly murdering a man and burying his body along a riverbank.
The Uttar Pradesh Police have filed an FIR against a former additional district magistrate, company representatives, and bank officials in connection with an alleged land scam worth around Rs 400 crore in Kanpur Dehat district.
Virat Kohli says Royal Challengers Bengaluru's IPL 2026 title win was powered by a complete team effort, praising the squad's depth, bowling strength and belief after RCB defeated Gujarat Titans to secure their second IPL crown.
The central bank is yet to consider actions such as a rate hike or mobilising dollar inflows from non-resident Indians to boost forex reserves as it cannot afford to continue with them for long when the rupee's internationalisation tops its agenda, explains Tamal Bandyopadhyay.
"Taxpayers with income from shares, mutual funds, crypto, ESOPs, or derivatives often incorrectly use ITR-1 instead of ITR-2 or ITR-3."
An Assam Civil Service (ACS) officer has been arrested on graft charges, with over Rs 1.66 crore in cash and fixed deposits worth another Rs 86 lakh seized, along with investment documents.
A builder and two others were allegedly duped of 18.19 lakh by two individuals in Thane, Maharashtra, who promised to secure business loans for them.
Haryana Chief Minister Nayab Singh Saini affirmed the government's commitment to fulfilling its promises to the Dhanak community by 2029, highlighting welfare measures and initiatives already undertaken.
Despite a sharp increase in import duties on gold and silver to 15 per cent, the precious metals are trading at significant discounts in the domestic market, with gold seeing discounts of up to $200 an ounce and silver up to $6 an ounce.
A sub-inspector in Mathura has been transferred and an inquiry ordered after videos surfaced showing him allegedly misbehaving with a minor boy and a youth. The incident sparked public outcry and prompted a departmental investigation.
Police in Karnataka have arrested an individual running a firm accused of operating a multi-crore deposit scam, attracting investments with promises of high returns. The case involves Shivaanand S Neelanavar and his firm Shivam Associates, also known as Acumen, who allegedly failed to return money to depositors after promising a 36 per cent annual return.
Ludhiana Police have busted a large cyber fraud racket, arresting 132 people involved in running fake call centres that targeted foreign nationals through various online scams.
Tata Consultancy Services has partnered with French artificial intelligence firm Mistral to provide frontier grade AI solution, Mistral Forge, for enterprises across the world.
Investments under the framework would remain voluntary for employees.
Overseas travel spending by Indians, including holiday trips, decreased by $212.43 million to $1.09 billion in March compared to February, according to the Reserve Bank of India's latest data.
Indian stock markets are set to be influenced by developments in US-Iran negotiations, crude oil prices, and foreign investor activity in the upcoming holiday-shortened week, according to market analysts.
Uttar Pradesh DGP Rajeev Krishna announced a conviction rate of over 93 per cent due to the state's 'zero tolerance' policy against crime. Authorities seized properties worth nearly Rs 788.38 crore linked to criminal activities.
HDFC Bank has launched an independent review by external law firms following the abrupt resignation of Chairman Atanu Chakraborty, who cited 'ethical concerns and practices within the bank' as the reason for his departure.
The Reserve Bank of India (RBI) is anticipated to make its highest-ever dividend payment to the government this year, providing a significant fiscal boost to address challenges, including those stemming from the ongoing Middle East crisis.
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