Atanu Chakraborty has resigned as chairman of HDFC Bank, citing ethical concerns, marking an unusual departure and prompting the appointment of an interim chairman.
Paytm, operated by One97 Communications, is not actively seeking a non-banking financial company (NBFC) licence, preferring partnership models for lending operations, according to its Group CFO.
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).
'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 Life Insurance reported a 4 per cent year-on-year increase in net profit to Rs 495.6 crore for Q4FY26, while its parent, HDFC Bank, announced a Rs 1,000 crore preferential share issuance to raise its stake to 50.5 per cent.
Fintech giant One97 Communications, which operates Paytm, has decided against applying for a Non-Banking Financial Company (NBFC) licence, favouring its existing partnership model.
The CBI has filed a chargesheet against AVJ Developers, bank officials, and others for allegedly cheating financial institutions and homebuyers in Greater Noida.
State Bank of India (SBI) reported a 6 per cent increase in standalone net profit to Rs 19,684 crore for the fourth quarter ended March 2026, driven by a significant decline in bad loans.
Indian benchmark indices Sensex and Nifty rebounded sharply on Monday, driven by a correction in crude oil prices due to ceasefire efforts in West Asia and strong buying in bank stocks.
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.
Delhi Police have arrested five individuals for allegedly supplying mule bank accounts to cyber fraud syndicates with links to Dubai. The arrests follow a complaint regarding a stock market investment scam where the victim was duped of over Rs 12 lakh.
The Income Tax Department has clarified the applicability of TDS (Tax Deducted at Source) on interest income for banking companies under the Income Tax Act, 2025, aligning it with the Banking Regulation Act, 1949.
India's foreign exchange reserves saw a significant drop of USD 7.794 billion, settling at USD 690.693 billion for the week ending May 1, as reported by the RBI, reflecting the impact of global events and central bank interventions.
DBS Bank India has launched a direct tax payment facility after authorisation from the Central Board of Direct Taxes (CBDT). Utkarsh Small Finance Bank partners with Mumbai Indians as banking partner for T20 League 2026.
BJD president Naveen Patnaik has requested Union Finance Minister Nirmala Sitharaman's intervention in a case where an Odisha tribal man was forced to exhume his sister's skeleton to prove her death to a rural bank. Patnaik seeks accountability for the incident, which has sparked public outrage.
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.
A special CBI court in Mumbai has convicted a retired bank manager and nine others in connection with a 2004 loan fraud case, sentencing them to prison terms ranging from one to five years.
Telangana police have dismantled a large network operating illegal mule bank accounts used for fraudulent financial transactions, arresting 13 suspects and uncovering transactions worth approximately Rs 138 crore.
Indian equity markets, including the Sensex and Nifty, experienced a significant downturn for the second consecutive day, driven by escalating geopolitical tensions in West Asia and persistent foreign fund outflows.
Delhi Police have arrested two men for allegedly defrauding a tour operator of Rs 1 lakh using fake currency notes under the guise of a currency exchange scheme.
'First-time applicants may witness longer approval times or higher rejection rates and requests for more documentation.'
Delhi Police have arrested five individuals from Uttarakhand's Udham Singh Nagar for their involvement in an interstate cyber fraud racket. The syndicate supplied mule bank accounts to cyber criminals, routing cheated money from online investment and task-based scams.
India's privatisation push, once projected as a cornerstone of economic reform, has suffered another setback, with the Centre set to call off the IDBI Bank stake sale, highlighting the political and structural constraints shaping the country's disinvestment policy, experts say.
'When there is such an elaborate and a strong process, one would have expected anyone to either place the issues so that they can be addressed or go to the regulator and probably tell them rather than creating a kind of uncertainty for the stakeholders.
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.
Gujarat police have arrested 10 individuals in connection with a cyber fraud racket involving over Rs 53 crore and spanning at least 20 states. The accused lured individuals into renting out their bank accounts, which were then used to receive and transfer funds obtained through various fraudulent schemes.
Police in Kanpur have arrested a suspected mastermind behind a network of fake firms, forged documents, and suspected hawala transactions worth over Rs 3,200 crore.
The Reserve Bank of India (RBI) announced that it processed 99.7 per cent of applications within the prescribed timeline under its Citizen's Charter in April 2026. The central bank handled a total of 21,150 applications, showcasing its commitment to efficient service delivery.
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.
Delhi Police have arrested three individuals, including a bank official, for allegedly defrauding a retired government officer of over Rs 45 lakh through a fake trading application.
From the financial year 2025-2026, the government has introduced a new column in the tax return form for presumptive taxpayers, requiring them to disclose their year-end investments. This requirement was not present last year.
Kerala Police have issued a warning about a new form of cyber fraud targeting people buying mattresses online. Fraudsters pose as fake customer care representatives of mattress companies and pressure customers into making immediate payments.
Police in Gadag, Karnataka, have arrested five men for allegedly luring students with false promises of scholarships to open bank accounts for illegal transactions.
Preferential equity listings in India reached an unprecedented 1,307 in FY26, marking a 33% increase from the previous year and reflecting a strategic choice for companies during market volatility.
Rajasthan Police dismantled a cyber fraud operation, arresting 17 individuals for allegedly defrauding an accountant of Rs 5.30 crore by impersonating his company's chairman on WhatsApp.
Delhi Police have dismantled an interstate cyber fraud syndicate, arresting 14 individuals allegedly involved in fraudulent transactions exceeding Rs 8 crore. The accused targeted job seekers with fake work-from-home opportunities via social media and job portals.
Unified Payments Interface (UPI) has reached a record Rs 314 lakh crore in transaction value in FY26, representing more than a 4,000-fold increase since inception.
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.
Indian benchmark indices Sensex and Nifty experienced a decline due to renewed geopolitical concerns in the Strait of Hormuz, a strained US-Iran ceasefire, and the rupee hitting a record low against the US dollar.
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