Indian bank credit expanded by 16.08 per cent year-on-year in FY26, marking its fastest pace since FY24, while deposits grew by 13.47 per cent, according to RBI data. Experts caution that year-end figures may be inflated due to reporting date changes, but acknowledge strong momentum in corporate, MSME, and retail segments.
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 to secure illegal interest payments.
Delhi Police have dismantled a cyber fraud syndicate involved in providing mule bank accounts, arresting 14 individuals across multiple locations. The syndicate allegedly supplied bank accounts, SIM cards, and ATM cards to fraudsters running fake investment schemes and online job scams, laundering the proceeds through these accounts.
Mumbai Police have registered an FIR against former Yes Bank MD and CEO Rana Kapoor and others for alleged illegal transfer of mortgaged property worth Rs 1,000 crore.
World Bank South Asia Chief Economist Franziska Ohnsorge advocates for the removal of obstacles hindering the adoption of artificial intelligence to foster business growth and job creation, particularly in South Asia.
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.
The Supreme Court has stated it will not make structural changes to religious practices at the Bankey Bihari temple in Vrindavan, hearing a petition challenging administrative decisions affecting traditions.
A sub-inspector in Vrindavan, Uttar Pradesh, has been transferred and an inquiry ordered following a complaint alleging he assaulted a passerby without provocation.
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.
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.
The World Bank has affirmed India's strong position to withstand the current global energy shock, citing high foreign exchange reserves, fiscal space, and low inflation as key buffers supporting continued growth despite international headwinds.
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.
The Supreme Court has ruled that borrowers are not entitled to a personal hearing before banks classify their loan accounts as "fraud" under RBI directions, clarifying that a written response to a show-cause notice and access to the forensic audit report (with redactions) are sufficient for natural justice.
A Delhi court sentenced Madhya Pradesh Congress MLA Rajendra Bharti and a former bank employee to three years' imprisonment each in a cheating case involving the forging of bank records to obtain illegal interest payments between 1998 and 2011.
India's market landscape is undergoing significant shifts, with bank-backed brokerages potentially regaining dominance over discount platforms due to regulatory changes and increased taxes, while the IPO pipeline faces a slowdown amid heightened global volatility.
The Financial Times, citing multiple bankers and shareholders, reports that the real tensions ran far deeper than compliance concerns.
HDFC Bank reports a 12% credit growth for the March quarter, alongside the unexpected resignation of its chairman, Atanu Chakraborty, due to ethical concerns.
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.
Loans against gold jewellery in India surged by an impressive 128 per cent year-on-year to nearly 4.28 trillion in February 2026, according to the latest Reserve Bank of India (RBI) data, significantly outpacing overall retail loan growth.
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.
The Indian rupee experienced a significant surge against the US dollar following the Reserve Bank of India's measures to restrict banks from onshore forward markets. Despite this, the rupee remains under pressure from foreign capital outflows, a strong dollar, and rising crude oil prices.
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.
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.
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.
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.
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.
Police in Belagavi, Karnataka, have arrested the operator of Shivam Associates, accused of running a multi-crore Ponzi scheme that promised high returns to depositors. The case has been registered under the BUDS Act and KPID Act, and will be transferred to the CID for further investigation.
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.
Delhi Police dismantled multiple interstate cyber fraud syndicates in a month-long operation, arresting 35 and bringing 89 offenders to justice. The syndicates were involved in various scams, including digital arrest, investment fraud, and fake dating schemes, with transactions worth nearly Rs 40 crore.
A self-styled godman, Ashok Kharat, and his aide, Namkarn Avare, have been remanded to 14-day judicial custody in Nashik following accusations of rape and alleged financial irregularities.
A special court has granted the Enforcement Directorate (ED) permission to arrest self-styled godman Ashok Kharat in connection with a Rs 70 crore money laundering case. Kharat, already facing rape and fraud charges, was produced before the Special PMLA Court on a production warrant from Nashik jail.
The Delhi Police's Economic Offences Wing (EOW) has dismantled a GST fraud cartel, arresting six individuals involved in swindling Rs 128 crore through shell companies and fake invoicing.
Jharkhand police arrested four cybercriminals, including two teenagers, in Jamtara district for online fraud, seizing mobile phones, SIM cards, and ATM cards.
Hyderabad Police have apprehended 66 individuals linked to a nationwide 'ghost' SIM card network, connected to 76 cybercrime cases involving over Rs 101 crore.
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.
Kerala Chief Minister V D Satheesan addressed the controversy surrounding the full rendition of Vande Mataram during the UDF government's swearing-in ceremony, stating that neither he nor his colleagues were informed beforehand. The issue has sparked political debate, with the CPI(M) criticising the move and the BJP accusing the Communists of insulting the national song.
HDFC Bank is engaging external legal firms, both domestic and international, to investigate the circumstances surrounding former part-time chairman Atanu Chakraborty's resignation.
The Central Bureau of Investigation (CBI) conducted searches at seven premises linked to Reliance Communications Ltd, an Anil Dhirubhai Ambani Group company, in connection with a fraud case involving thousands of crores of rupees.
Self-styled godman Ashok Kharat, already jailed for alleged rape and fraud, has been arrested by the Enforcement Directorate in connection with a Rs 70-crore money laundering case. The arrest follows court approval and is part of an ongoing investigation into a large-scale extortion racket.
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