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.
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.
Punjab Cabinet Minister Sanjeev Arora has challenged his arrest by the Enforcement Directorate (ED) under the Prevention of Money Laundering Act (PMLA), claiming it is illegal and unconstitutional. The Punjab and Haryana High Court heard arguments and adjourned the matter to May 14. Arora was arrested in connection with an alleged Rs 100-crore GST fraud-linked money laundering case.
A section of industry may need to begin compliance immediately, even as most states are yet to notify their rules.
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.
'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.
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.
Markets face risk of a prolonged bear phase as oil shocks and geopolitical tensions test inflation, growth and investor confidence globally, points out Debashis Basu.
A man in Mumbai has been booked for allegedly cheating a woman of 7 crore by making false promises of financial assistance and business loans after her husband's death. The accused, Bharat Singh alias Johnny, allegedly obtained the woman's GST login credentials and carried out fake transactions in her company's name.
A 13-year-old boy was found dead in a swampy area on the banks of the Noyyal river in Coimbatore. Two minor friends have been apprehended in connection with the alleged murder, which was triggered by vulgar remarks made by the victim.
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.
Police in Telangana have arrested three members of an interstate gang in connection with a major jewellery heist in Karimnagar city. The gang, guided by a jailed handler, stole gold and diamond ornaments worth Rs 82.02 lakh after injuring four employees.
Police in Gadag, Karnataka, have arrested five men for allegedly luring students with false promises of scholarships to open bank accounts for illegal transactions.
Prudential plc has announced its acquisition of a 75 per cent stake in Bharti Life Insurance for approximately 3,500 crore, a strategic move to secure majority ownership in the Indian life insurance market. This acquisition necessitates Prudential reducing its holding in ICICI Prudential Life Insurance to below 10 per cent.
The BRICS foreign ministers' meeting in New Delhi concluded without a joint statement due to disagreements over the West Asia conflict, with Iran blaming the UAE for the lack of consensus. India, as the host, issued a chair's statement highlighting the differing views.
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.
Indian stock markets experienced a significant sell-off, with the Sensex tumbling over 1,300 points, driven by escalating crude oil prices due to US-Iran tensions and Prime Minister Narendra Modi's call for austerity measures, which amplified investor concerns about India's economic outlook.
The Maharashtra government has suspended Deputy Collector Abhijit Bhande-Patil for his alleged links with self-styled godman Ashok Kharat, who was arrested in March on rape and financial irregularity charges.
The Central Information Commission has ruled that the Board of Control for Cricket in India does not qualify as a 'public authority' under the Right to Information Act, effectively placing it outside the scope of RTI disclosures.
Manchester City striker Erling Haaland is set to make his acting debut by voicing an animated version of himself in Viking adventure film Viqueens, scheduled for release in late 2026.
'First-time applicants may witness longer approval times or higher rejection rates and requests for more documentation.'
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.
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.
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.
India's retail inflation, measured by the Consumer Price Index (CPI), increased to 3.48 per cent in April, up from 3.40 per cent in March, primarily due to a surge in prices of gold and silver jewellery, as well as certain kitchen staples like tomatoes and cauliflower.
'When we start describing somebody as an enemy that is the start of politics and emotion after which no business can take place.' 'We need to get out of this, allow Indian businessmen to do business with China.'
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.
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.
Indian benchmark indices Sensex and Nifty experienced a significant slump in early trade, mirroring weak global trends, as escalating tensions in West Asia, particularly a drone attack on the UAE's Barakah nuclear facility, pushed crude oil prices higher. Track Sensex, Nifty50 movement and key market drivers for May 18, 2026.
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 Supreme Court has urged the Kapur family, including Rani Kapur and Priya Kapur, to resolve their dispute over the family trust through mediation, appointing a former Chief Justice to oversee the process.
India emerged reasonably well from 2025. But now, the oil shock and war-related supply disruptions have again driven funds out of India and significantly weakened the rupee, points out Ajay Chhibber.
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.
Priests see red over the Rs 2,390 crore project to overhaul infrastructure around one of Bihar's most significant pilgrimage site, particularly for those performing pind daan.
Axis Bank has partnered with the DP World Professional Golf Tour of India (DP World PGTI) as its official banking partner, aiming to strengthen professional golf in India.
Delhi Police have arrested a man from Bihar for allegedly committing credit card fraud of Rs 3.99 lakh. The accused used stolen credentials to make purchases through the victim's e-commerce account.
Governance uncertainty and leadership visibility gap are likely to keep the stock under pressure in the near term, said Nomura in a report.
Two individuals have been arrested in Gurugram for allegedly providing bank accounts to cyber fraudsters involved in an investment scam that defrauded victims of approximately Rs 1.09 crore.
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.
A 39-year-old driver in Delhi, employed by a family for 15 years, has been arrested for allegedly exploiting an elderly Alzheimer's patient and siphoning off Rs 2.57 lakh through unauthorised UPI transactions.
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