A 34-year-old man from Uttar Pradesh was arrested in Kerala for allegedly using duplicate keys to steal ATM cards from two-wheelers and withdraw money from bank accounts.
Banks with a large ATM network were crying foul over the free ATM usage after RBI, in its draft approach paper on ATMs of banks, had said the use of ATMs of own banks for any purpose and of other bank ATMs for balance enquiries should be free of cost with immediate effect.
Axis Bank has opened 50 new branches across India, while Abakkus Mutual Fund has surpassed Rs 10,000 crore in AUM. YES Bank launched a new credit card for women, and J&K Bank partnered with HDFC Life to enhance its insurance offerings, showcasing significant growth and strategic developments in the Indian financial sector.
A State Bank of India report indicates a sharp increase in precautionary cash holding in India, with the gap between per capita currency in circulation and ATM withdrawals widening significantly, driven by global uncertainties despite record digital payment transactions.
Credit card transactions in India have surged over 2.6 times between 2021 and 2025, reaching 570 crore volumes and Rs 23.2 lakh crore in value, with private sector banks significantly increasing their market share, according to a recent RBI report.
The CPI(M) has strongly opposed the Union government's proposal to levy charges on UPI transactions, calling it a "breach of public trust" and demanding the immediate withdrawal of the legislation. The party highlighted that the government had previously promoted UPI as a free public utility, encouraging widespread adoption, and now seeks to monetise this infrastructure. They also linked this move to a broader trend of increasing banking charges.
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.
Police in Gadag, Karnataka, have arrested five men for allegedly luring students with false promises of scholarships to open bank accounts for illegal transactions.
Odisha Police have arrested a former banking correspondent for allegedly misappropriating around Rs 27 lakh of depositors' money in Jajpur district.
A 27-year-old collection agent was robbed of cash by four men on motorcycles in northeast Delhi's Khajuri Khas area, according to police reports.
Delhi Police dismantled an interstate cyber fraud network involved in routing illicit funds through bank account kits, SIM cards, and ATM credentials, leading to the arrest of three key individuals from Haryana and Himachal Pradesh.
Delhi Police have arrested three individuals for allegedly defrauding a resident of Rs 15.26 lakh by promising to increase his credit card limit. The fraudsters used mule bank accounts to channel the illicit funds, and police recovered several devices used in the crime.
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.
Harried Yes Bank depositors rushed to ATMs to withdraw cash but faced multitude of problems including closed down machines and long queues, after the RBI placed the bank under a moratorium, capping maximum withdrawals at Rs 50,000 per account for a month. Aggravating the problems of depositors were difficulties accessing the internet banking channel, which ensured that they can't transfer the funds online as well.
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.
A 24-year-old man in Nagpur was arrested for allegedly murdering his grandmother after a dispute over money he withdrew from her bank account.
Gujarat police have uncovered cyber frauds worth Rs 2,289 crore and arrested 638 individuals as part of 'Operation Mule Account 1.0', a state-wide crackdown on online criminals launched in 2025.
The Reserve Bank of India (RBI) is set to introduce polymer banknotes to address the rising demand for currency, improve durability, and reduce production costs, with a pilot project expected soon.
Gurugram police have dismantled a cyber fraud operation run from a call centre in Ghaziabad, arresting three individuals accused of defrauding people of significant sums through deceptive insurance and government bond investment schemes.
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.
Patan Police have busted a large-scale cyber fraud racket, arresting 14 individuals involved in illegal transactions worth Rs 398.43 crore through 13 'mule accounts'. The operation, dubbed "Operation Mule Hunt 2.0", uncovered a network linked to 228 inter-state cyber fraud complaints, where individuals were lured to open bank accounts used to channel proceeds of cyber crimes.
The Reserve Bank of India (RBI) has unveiled draft norms for branch authorisation and business correspondents (BCs), introducing a two-tiered classification for BCs and redefining 'banking outlets' to include BC-Banking Outlets (BC-BOs), aiming to expand formal banking presence, particularly in rural areas.
Gurugram Police have arrested four individuals allegedly involved in an online betting fraud operation. The accused lured users with online gaming advertisements, processed payments through QR codes, and earned commissions on deposits.
Jharkhand police arrested four cybercriminals, including two teenagers, in Jamtara district for online fraud, seizing mobile phones, SIM cards, and ATM cards.
Delhi Police have dismantled an interstate cyber fraud syndicate, arresting three key operatives involved in siphoning off money through unauthorised banking transactions. The police successfully froze approximately Rs 4 lakh of the Rs 4.82 lakh stolen from a victim's account and recovered numerous debit cards, SIM cards, and mobile phones used in the operation.
The interchange fee -- paid by the card-issuing bank when a customer swipes at another bank's ATM, including at white-label ATMs -- may be raised to Rs 20 to Rs 23.
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.
15 states have rolled out unconditional cash transfer schemes for women, with an estimated annual outlay of around Rs 1.7 trillion covering nearly 120 million beneficiaries.
Delhi Police have arrested a man from Rajasthan for allegedly running an online shopping fraud racket, cheating people through fake social media advertisements offering discounted branded suits and sarees.
Delhi Police have arrested three individuals, including a B.Tech student, for allegedly operating fake helicopter booking websites that defrauded pilgrims across India. The accused created fraudulent sites impersonating legitimate travel platforms, luring customers with online ads, and are linked to nearly 30 complaints totalling Rs 10 lakh in fraud.
The vertical will be based out of Bengaluru.
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.
Gurugram Police have arrested six individuals allegedly involved in a cybercrime racket that defrauded people through online gaming and betting platforms. The arrests followed a raid in Delhi's Janakpuri area, where authorities seized mobile phones, laptops, ATM cards, and other incriminating materials.
Filling of Rs 100 and Rs 200 notes result in faster depletion and more frequent cash replenishment. This will cost banks and managed service providers more.
Police in Meerut, Uttar Pradesh, have dismantled an illegal telephone exchange allegedly used for revenue loss and an online fake loan racket, arresting three individuals and seizing a large quantity of equipment.
The Uttarakhand Special Task Force (STF) has arrested two members of an inter-state organised gang from Jammu and Kashmir for their alleged involvement in cyber fraud.
Delhi Police have dismantled an interstate cyber fraud syndicate, arresting 14 individuals allegedly involved in fraudulent transactions exceeding Rs 8 crore. The accused targeted job seekers with fake work-from-home opportunities via social media and job portals.
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.
A senior citizen in Navi Mumbai was allegedly swindled of 64 lakh over four years by cyber fraudsters posing as insurance regulators and grievance officials.
Delhi Police have arrested two individuals from Jharkhand for allegedly defrauding a 65-year-old man of over Rs 10 lakh through a cyber fraud involving APK files.
