The CBI has registered an FIR against Chandra Proteco Limited and its directors for an alleged bank fraud of Rs 210.13 crore. The agency conducted searches in Prayagraj and is investigating the company for systematic financial manipulations and siphoning off funds from a consortium of six banks led by Indian Bank.
The Supreme Court has mandated that banks must be held accountable for losses incurred by digital fraud victims, ensuring compensation of at least the amount lost if the fraud stems from the financial institution's lack of due diligence. The court emphasised that the proposed RBI regulatory framework must include enforceable provisions for compensation, preventive measures, and institutional accountability, moving beyond mere advisories. The CJI stressed the need for banks to use technology like AI to prevent fraud by monitoring unusual transactions and called for stronger accountability clauses against non-compliant banks.
Anup Bagchi has officially taken over as the managing director and chief executive of HDFC Bank, becoming the first outsider to lead the institution in its three-decade history. He steps into the role facing significant challenges related to core income growth and margins, and will focus on completing the merger with HDFC and engaging with stakeholders.
Fino Payments Bank reported a net loss of Rs 21 crore for the second quarter ended September 2026, a significant drop from the Rs 15 crore profit in the previous year. This comes as the bank operates under an interim CEO following the arrest of its former MD & CEO, Rishi Gupta, on charges of GST violations linked to online money gaming.
The United Forum of IDBI Officers and Employees has strongly opposed the proposed sale of a majority stake in IDBI Bank to Canada-based Fairfax Financial Holdings, demanding an immediate suspension of the process and a comprehensive review under parliamentary scrutiny.
India's banking system liquidity surplus has significantly narrowed due to tax outflows, including GST payments, and higher cash reserve ratio balances. This tightening liquidity has pushed the weighted average call rate closer to the RBI's marginal standing facility rate, with market participants anticipating a persistent deficit in the coming months.
India's largest private-sector lender, HDFC Bank, is undergoing a significant leadership transition with several long-serving executives, including Deputy Managing Director Kaizad Bharucha and outgoing MD & CEO Sashidhar Jagdishan, set to depart, leaving incoming MD & CEO Anup Bagchi to oversee a major overhaul.
The Indian government has approved the sale of a 60.72 per cent stake in IDBI Bank Ltd to Canadian billionaire Prem Watsa's Fairfax Financial Holdings Ltd for approximately 52,878 crore, a move that reflects improving India-Canada ties and marks a significant turning point for the bank.
The Supreme Court has ruled that banks must compensate victims of digital fraud, especially in cases like "digital arrests," if the fraud results from the financial institution's failure in due diligence. The court is examining RBI's proposed KYC amendments and stressed the need for a regulatory framework that includes victim compensation and preventive measures. It also highlighted the issue of mule accounts and the need for banks to alert police about suspicious transactions.
By the time she finished her term as SBI chairman, she was overseeing over two lakh employees, 24,000 domestic branches, 100 international ones and a bank that had stepped into the technological age and become youth-friendly. Meet Arundhati Bhattacharya, the first woman chairman of the State Bank of India and president and CEO, Salesforce, South Asia.
Delhi Police have arrested two men, Himanshu Kumar and Ankit Kumar, for allegedly facilitating cyber fraud by arranging bank accounts for fraudsters. This action stems from a case where a victim was cheated of Rs 15.83 lakh. The investigation revealed how the accused provided crucial support to online cheating operations.
Police in Sonbhadra have arrested three more individuals from Bhopal, bringing the total to eight, in connection with a cyber fraud case involving bank accounts linked to the Satya Sanatan Trust. The investigation has uncovered 35 complaints of cyber fraud amounting to approximately Rs 11.63 crore, with funds allegedly routed through the trust's accounts and a commission paid to its president.
Samajwadi Party president Akhilesh Yadav has criticised the BJP government, posing 12 questions regarding the banking sector. He highlighted issues such as recurring bank charges, reduced interest rates, demonetisation's impact, missing locker valuables, and poor working conditions for bank employees, accusing the government of weakening banks and exploiting vulnerable communities.
Delhi Police have dismantled a sophisticated cyber fraud network that allegedly used 37 mule bank accounts to siphon off Rs 7.36 crore from 99 complaints nationwide. Six individuals, including two bank branch managers and four sales staff, have been arrested for their alleged involvement in opening accounts with forged documents and converting illicit funds into cryptocurrency.
Marriage alone does not make a spouse liable for debt. The extent of liability depends on whether the spouse signed as a co-borrower or guarantor, or inherited assets.
HDFC Bank has initiated an internal enquiry into the alleged leak of confidential information by two senior executives, with investigators examining whether the disclosed information was misused.
Anup Bagchi, the incoming MD & CEO of HDFC Bank, is set to become India's highest-paid bank CEO with a proposed target annual compensation package of approximately 35.9 crore, including a significant variable pay component and a one-time joining bonus.
Leading private banks in India, including HDFC Bank, ICICI Bank, and Axis Bank, experienced a decline in net interest margins (NIMs) during the second quarter of the financial year due to significant deposit mobilisation under the Foreign Currency Non-Resident (Bank), or FCNR (B), scheme. However, banks anticipate a recovery in margins in the coming quarters as these funds are deployed and the interest-rate cycle supports lending yields.
Canadian billionaire Prem Watsa's Fairfax Financial Holdings will utilise the expertise of Deepak Parekh and Paresh Sukthankar, former HDFC leaders, as it moves to acquire a 60.72 per cent stake in IDBI Bank for 52,878 crore, with N S Kannan proposed as chairman.
Indian equity benchmark indices extended losses for a second consecutive session, with the Sensex dropping 143 points, driven by a sell-off in power, banking, and financial stocks, coupled with elevated crude oil prices and persistent FII selling.
Follow these guidelines to reduce the potential of a power bank fire on a flight.
'We see a lot of cases of bank deposits getting lost, especially when people die, so this will help address that because you have one consolidated view.'
Indian benchmark equity indices, Sensex and Nifty, ended sharply lower, with the Sensex tumbling 876.37 points and the Nifty dropping below 22,900, primarily due to a decline in private bank stocks like HDFC Bank and Axis Bank, alongside weak global market trends.
HSBC has emerged as the leading international bank in facilitating fundraising for Indian companies through bonds, syndicated loans, and IPOs during January-September 2026, according to Hitendra Dave, CEO of HSBC India.
'Get people young, train them, assimilate them, and grow them adequately.'
India's leading private-sector banks, including HDFC Bank, Axis Bank, and Kotak Mahindra Bank, reported robust deposit growth in the July-September quarter (Q2FY27), significantly aided by the Reserve Bank of India's concessional FCNR(B) swap window.
A special CBI court in Mumbai has ordered the issuance of proclamation against billionaire jeweller Jatin Mehta, his wife, and another individual in a Rs 146.35 crore bank fraud case involving Canara Bank. The court allowed the CBI's plea to secure the presence of the absconding accused but declined the immediate attachment of their properties, citing lack of material evidence. The accused are reportedly residing in the United Kingdom.
Kanpur police have uncovered a Rs 2.66-crore cyber fraud operation, leading to the arrest of two individuals and the identification of 89 bank accounts nationwide. The investigation began after a bank manager reported alleged fake complaints filed by one of the accused, Akhil Singh Chauhan, who was denied banking facilities. The fraud involved a fake investment scheme that targeted an exporter, with money routed through numerous mule accounts.
A two-day weekend would help employees recover physically and mentally. They would return better prepared for branch work that demands patience, judgment, and accuracy, asserts Tamal Bandyopadhyay.
HDFC Bank reported a 5.55 per cent increase in consolidated net profit to Rs 20,700 crore for the September quarter, with incoming MD and CEO Anup Bagchi indicating a focus on strengthening the balance sheet and addressing retail vertical concerns post-merger.
The Central Bureau of Investigation (CBI) has dismantled a multi-state impersonation and cheating network involved in banking recruitment. Four individuals, including a CGST inspector, were arrested for allegedly infiltrating banking exams and interviews by posing as candidates, thereby compromising the integrity of public examinations.
An IndiGo flight from Delhi to Chennai was diverted to Hyderabad on Sunday after a passenger's power bank caught fire in the overhead bin. The cabin crew quickly extinguished the fire, and the aircraft landed safely. All 180 passengers and seven crew members were unharmed. This is reportedly the third such incident on an IndiGo aircraft in about a year.
The Supreme Court has upheld the Bombay High Court's decision to quash the Yes Bank administrator's write-off of Rs 8,415 crore worth of Additional Tier 1 (AT-1) bonds, criticising the RBI and Yes Bank's conduct.
ICICI Bank announced a significant 22.28 per cent increase in its consolidated net profit, reaching Rs 16,333.18 crore for the September quarter, primarily fuelled by a 30 per cent jump in its loan portfolio.
Indian benchmark indices Sensex and Nifty saw an early rebound, driven by strong performances from blue-chip HDFC Bank and major IT firms like HCL Tech, which reported a significant rise in net profit. Track Sensex, Nifty on October 13.
Indian banks are projected to achieve healthy profit growth in the second quarter of financial year 2027 (Q2FY27), driven by lower credit costs, robust advance growth, and fee income. However, net interest margins (NIMs) are expected to face pressure due to significant mobilisation of foreign currency non-resident (bank) FCNR(B) deposits.
The CBI has registered an alleged bank fraud case against Mumbai-based Hanjer Biotech Energies Pvt. Ltd for causing a loss of over Rs 93.44 crore to Punjab National Bank. The company is accused of diverting a Rs 135 crore term loan, leading to searches at its Mumbai premises.
Indian benchmark indices Sensex and Nifty extended their rally for a second consecutive session, driven by a decline in Brent crude oil prices below USD 100 per barrel and strong buying in banking stocks and Reliance Industries.
Bankers said the impact could become more visible from September 29 as customers could withdraw larger amounts of cash, although ATM operations are increasingly managed through third-party cash-loading arrangements.
Anup Saha, currently a Wholetime Director at Kotak Mahindra Bank, has been appointed as the new Managing Director and Chief Executive Officer for a three-year term, effective January 1, 2027, with the Reserve Bank of India's approval.
