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) has announced a record surplus transfer of Rs 2.87 trillion to the central government for FY26, driven by increased income and an expanded balance sheet, despite a reduction in the contingent risk buffer (CRB) to 6.5 per cent.
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.
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.
The Supreme Court has scheduled a July hearing for the Rs 500 crore money decree case involving Ras Al Khaimah Investment Authority (RAKIA) and industrialist Nimmagadda Prasad, following the failure of a mediation process led by former Chief Justice of India U U Lalit.
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.
The net liquidity surplus in the banking system fell to Rs 16,875 crore on Thursday the latest data by the Reserve Bank of India (RBI) showed, lowest since 22 January.
Credit card transactions in India have surged over 2.6 times between 2021 and 2025, driven by private sector banks, while debit card usage declines due to growing adoption of UPI and digital wallets, according to an RBI report.
On Saturday, it was reported that a drone strike had targeted the Fujairah Port in the UAE, triggering a fire.
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.
India's gross savings rate is projected to be nearly 47 basis points higher in FY25 than previously estimated, following the Securities and Exchange Board of India's (Sebi) revision of the methodology for calculating household savings routed through the securities market.
The State Consumer Disputes Redressal Commission has directed Bank of India to compensate a senior citizen for losses incurred due to unauthorized ATM transactions, citing deficiency in service and failure to adhere to security protocols.
The Indian rupee rebounded 50 paise from its all-time closing low to settle at 96.36 against the US dollar, driven by retreating crude oil prices, signs of easing geopolitical friction, and likely central bank intervention.
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While tensions have eased at several friction points and mechanisms for managing the boundary have been reactivated, underlying differences persist. Disputes over naming practices in Arunachal Pradesh, continued infrastructure development on both sides, and unresolved questions regarding patrolling rights indicate that the structural gap remains, notes Dr Kumar.
Tensions in West Asia have dramatically escalated as Israel launched targeted military operations against Iran, triggering widespread blasts across strategic cities, following earlier Iranian projectile attacks on Israel.
In the latest Rediff series exploring non-traditional careers, Sandeep Goel, professor and dean-research at MDI, Gurgaon lists a range of high-growth finance careers beyond CA, CS, and MBA degrees.
NPCI BHIM Services Ltd is expanding the BHIM app to feature phones to increase financial inclusion and diversify revenue through financial product distribution. The app aims to double its market share and is focusing on partnerships with banks and new features like UPI Circle.
The Employees' Provident Fund Organisation (EPFO) will soon allow subscribers to withdraw their EPF and transfer it directly to their bank accounts through the UPI payment gateway. Testing of the facility has been completed, according to Labour Minister Mansukh Mandaviya.
Rapid growth in personal gold loans has raised concerns over borrower leverage, large-ticket exposure and volatility in gold prices, points out Swaminathan J, Deputy Governor, Reserve Bank of India.
'We strongly believe that anyone with capability and a strong work ethic should have a chance at the top job.'
Union Education Minister Dharmendra Pradhan has directed officials to address issues faced by students regarding the CBSE examination system, following allegations of irregularities. The government has committed to transparency and accountability, assuring that all genuine concerns will be addressed effectively.
Palaash Mapara, Pratik Yadnik, and Ameya Dandekar each secured their fourth consecutive victories in the fourth round of the All India Chess Master's tournament in Mumbai.
'First-time applicants may witness longer approval times or higher rejection rates and requests for more documentation.'
Mumbai Police's 1930 cyber helpline has successfully intercepted and frozen over 101 crore defrauded from citizens in the last five months, preventing significant financial losses.
An email threatening missile and bomb attacks on the Maharashtra Vidhan Bhavan and other key locations in Mumbai triggered a security alert, prompting extensive searches and heightened security measures.
Investments under the framework would remain voluntary for employees.
rediffGURU T S Khurana answers readers' personal income tax queries
A special CBI court in Mumbai has sentenced four individuals to imprisonment for their involvement in a 2012 case where the Bank of India suffered a loss of over Rs 3 crore due to a forged Letter of Credit.
A section of industry may need to begin compliance immediately, even as most states are yet to notify their rules.
Foreign secretary Vikram Misri on Friday shared key details on agreements between India and the UAE, stating that the UAE will store up to 30 million barrels of crude oil in India's strategic petroleum reserve following Prime Minister Narendra Modi's visit.
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.
The Reserve Bank of India's 2024 norms for the voluntary conversion of Small Finance Banks (SFBs) into universal banks, particularly the subjective 'diversified loan portfolio' criterion, are proving to be a significant hurdle, with Ujjivan SFB and Jana SFB having their applications returned.
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.
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.
Yes Bank has launched a salary account designed for working women, offering financial protection, healthcare benefits, lifestyle privileges, and wealth-creation opportunities.
A local court in Mumbai has accepted the police's closure report in the alleged Rs 25,000 crore scam at the Maharashtra State Cooperative Bank (MSCB), giving a clean chit to the late deputy chief minister Ajit Pawar and other accused.
'Statutory power must be exercised in a manner that is fair, proportionate, and not excessive.' 'The authority must demonstrate a rational nexus between the property frozen and the alleged offence.'
"Taxpayers with income from shares, mutual funds, crypto, ESOPs, or derivatives often incorrectly use ITR-1 instead of ITR-2 or ITR-3."
UPI transactions reached 22.35 billion in April, marking a 25 per cent increase compared to April 2025. UPI now accounts for 85 per cent of all digital transactions in India and is live in eight countries.
