'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.'
Haryana State Vigilance and Anti-Corruption Bureau arrests 11 individuals, including bank employees and a government official, in connection with a fraud case involving IDFC First Bank and the illegal diversion of government funds.
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.
Yes Bank has launched a salary account designed for working women, offering financial protection, healthcare benefits, lifestyle privileges, and wealth-creation opportunities.
Six masked men looted Rs 13 lakh from a nationalised bank branch in Jharkhand's East Singhbhum district, also snatching gold chains, mobile phones, and wallets of the staffers.
Fexo, an AI intelligence platform focused on the BFSI sector, has launched its AI decisioning engine for business loans, designed to help financial institutions accelerate AI adoption and improve decision-making processes.
Fino Payments Bank's MD and CEO, Rishi Gupta, has been arrested for violating Goods and Services Tax laws, prompting the appointment of Ketan Merchant as the interim head.
Fino Payments Bank asserts its compliance with GST regulations following the arrest of its MD and CEO, Rishi Gupta, by the Directorate General of GST Intelligence (DGGI). The bank clarifies that the investigation pertains to program managers associated with multiple banks and not the bank's own GST compliance.
The Enforcement Directorate (ED) has filed a prosecution complaint against Anil Nutrients Ltd, its director, and six others in connection with a money laundering case involving an alleged fraud of Rs 47.88 crore with Bank of India.
A Haryana government employee has been arrested in connection with the Rs 590 crore IDFC First Bank fraud case, which involved state government accounts and led to the recovery of nearly Rs 556 crore within 24 hours.
'...even though the investigation in the matter is ongoing, we have paid 100 per cent of the principal and interest to relevant departments of the Haryana government.'
Delhi Police arrested a 22-year-old woman for allegedly providing mule bank accounts to an interstate cybercrime network, recovering numerous ATM cards, cheque books, and electronic devices.
Reliance Group chairman Anil Ambani did not appear before the Enforcement Directorate for questioning in a money laundering case linked to an alleged bank fraud. The ED is investigating loan fraud allegations against multiple Anil Ambani group companies.
The Anti-Corruption Bureau registered an FIR, while the state government constituted a committee to examine the fraud.
A Delhi court has dismissed the bail plea of an alleged kingpin in an over Rs 8.94 crore bank fraud case, citing the gravity of the offence and its systematic execution through layered transactions.
The quantum of fraud detected by the bank is more than the 503 crore net profit it reported for the October-December quarter of 2025-2026.
IDFC First Bank reported a Rs 590 crore fraud involving its employees and others in accounts held by the Haryana government. The bank has informed regulators and filed a police complaint, initiating internal reviews and forensic audits.
'There is a challenge in repositioning yourself, maybe reinventing yourself.'
Abusive language, threats, harassment, excessive or anonymous calls, public humiliation, and misleading representations are explicitly prohibited.
Stock markets rebounded on Friday with the benchmark Sensex closing higher by 316 points after heavy buying in banking and metal shares amid optimism over trade deal progresses and India's participation in Pax Silica.
Equity benchmark indices Sensex and Nifty rebounded sharply by nearly 1 per cent on Monday, driven by strong buying in power, banking, and financial stocks.
India has joined over 100 countries and global organizations in condemning Israel's "unilateral" decisions and measures aimed at expanding its "unlawful presence" in the West Bank.
Benchmark equity indices Sensex and Nifty extended their gains for the third straight session on Wednesday, driven by last-hour buying in bank, metal, and FMCG shares.
Stock markets closed higher for the second straight session on Tuesday, driven by gains in bank, IT and capital goods shares.
In a move aimed at curbing the mis-selling of financial products, the Reserve Bank of India (RBI) has proposed banning incentives paid to bank staffers by third parties such as insurance companies and mutual fund houses for selling their products and services. It has also proposed that banks must ensure their user interfaces do not deploy "dark patterns" to lure customers.
Stock markets closed higher on Friday after the Reserve Bank of India kept its benchmark interest rate unchanged as expected and proposed allowing banks to lend to Real Estate Investment Trusts (REITs) with certain prudential safeguards to deepen the financing pool for the real estate sector.
The Reserve Bank of India on Friday proposed to allow banks to lend to Real Estate Investment Trusts (REITs) with certain prudential safeguards to deepen the financing pool for the real estate sector.
Benchmark Sensex tumbled 1,236 points or 1.5 per cent while Nifty closed near 25,450 on Thursday following an across-the-board sell-off amid escalating geopolitical tensions between the US and Iran.
Led by the country's biggest lender State Bank of India (SBI), public sector banks logged a record cumulative profit of Rs 52,603 crore in the third quarter of the current fiscal, reflecting an 18 per cent year-on-year growth.
The government on Friday received financial bids for the strategic disinvestment of IDBI Bank, the Department of Investment and Public Asset Management (Dipam) said in an official statement on X.
Banking operations at public sector banks across the country were impacted on Tuesday as the United Forum of Bank Unions (UFBU) went on nationwide strike demanding the immediate implementation of a five-day work week.
'In the last one year, we have added more than Rs 1.7 trillion, and we are on track.'
Bihar Police arrested 141 people in a state-wide crackdown on mule bank account networks allegedly used for cyber fraud. The operation, 'Cyber Prahar 2.0', led to the registration of 86 FIRs and uncovered collusion by bank employees.
The Enforcement Directorate (ED) has attached assets worth over 581 crore belonging to Reliance Home Finance Limited (RHFL) and Reliance Commercial Finance Limited (RCFL), companies of Reliance Group Chairman Anil Ambani, as part of an ongoing investigation.
Chandigarh Police have launched an investigation into a fraud involving fake fixed deposit receipts (FDRs) worth 116.84 crore, allegedly issued by a private bank manager, impacting the Chandigarh municipal corporation's funds.
The Enforcement Directorate (ED) has attached fresh assets worth over 581 crore belonging to Reliance Group companies, RHFL and RCFL, as part of its ongoing money laundering investigation.
Equity benchmark indices Sensex and Nifty ended higher in highly volatile trade on Tuesday, buoyed by heavy buying in bank and metal stocks, a firm trend in global markets and optimism over India-EU FTA. The 30-share BSE Sensex climbed 319.78 points, or 0.39 per cent, to settle at 81,857.48.
Police in Belagavi, Karnataka, have uncovered a large cyber fraud network using 2,900 mule bank accounts to funnel fraudulent transactions. The fraudsters target unemployed youth and women with promises of easy commissions, persuading them to share or open bank accounts used for illegal fund transfers.
A special court in Mumbai has dropped corruption charges against Guruashish Construction and its directors in a multi-crore cheating case after the CBI found no public servants involved in the alleged graft.
Only bona fide victims would be compensated by banks within five days of receiving the complaint.
© 2026 Rediff.com - Investor Information - Advertise with us - Disclaimer - Privacy Policy - Sitemap - Feedback - About us - Terms of use - Grievances