The Enforcement Directorate (ED) conducted searches at 19 locations in Haryana and Chandigarh concerning the alleged embezzlement of Rs 590 crore from Haryana government accounts held with IDFC First Bank. The investigation focuses on identifying business entities involved in concealing the money trail and proceeds of the crime.
The Reserve Bank of India (RBI), in its Financial Stability Report (FSR), cautioned that stress tests indicate two scheduled commercial banks (SCBs) may have to dip into their capital conservation buffers (CCBs), unless stakeholders infuse capital, under a scenario involving a gradual slowdown in domestic GDP growth and a moderate rise in inflation, with limited policy easing space available to the central bank.
The pace of growth in bank deposits and credit showed a substantial decline in the last quarter of 2009-10, as compared to the same quarter of the previous year.
An assistant executive engineer in Odisha was arrested by the Vigilance Department for allegedly possessing assets disproportionate to his known income sources.
The Enforcement Directorate has launched a money laundering investigation into the alleged embezzlement of 590 crore from Haryana government accounts held with IDFC First Bank, conducting searches across multiple locations.
ICICI Bank has cut its savings account deposit interest rate by 0.25 per cent, according to the lender's website. The second largest private sector bank's move comes days after larger rival HDFC Bank announced similar move amid a spate of cuts in deposit offerings following RBI's two back-to-back rate decreases.
'Whether you will bring this down and cause hurt to senior citizens, who are probably living on that little interest rate that they earn out of it... But equally, if I just look at the kitty of the National Small Savings Fund, it is from that same kitty that I'm borrowing.'
The Maharashtra Anti-Terrorism Squad (ATS) is investigating a bogus religious trust in Beed that received funds from a controversial international organisation, Chief Minister Devendra Fadnavis announced.
The Delhi High Court has extended the suspension of actor Rajpal Yadav's sentence in cheque bounce cases until April 1, acknowledging his 'substantial' payment towards the outstanding amount.
Given that a sizeable part of this money is part of the coveted current accounts and savings accounts, it is surprising that banks are not in a hurry to revive these accounts, notes Tamal Bandyopdhyay.
The Enforcement Directorate (ED) is investigating potential links between police officers and illegal coal smuggling operations in West Bengal, seeking details of officers in charge of multiple police stations.
Indian equities trading activity saw a moderation in FY26, with cash market turnover declining and derivatives growth remaining subdued due to regulatory tightening and weak market performance. Further impacts are expected from new RBI norms and a hike in Securities Transaction Tax (STT).
The CBI has registered a new case against Anil Ambani and Reliance Communications Ltd for allegedly causing a loss of Rs 3,750 crore to the Life Insurance Corporation (LIC) of India.
Beginning November 1, 2025, bank customers can name up to four nominees for their accounts and lockers.
Is Bhutan merely experimenting with digital finance -- or is the Himalayan kingdom punching far above its weight, quietly playing one of the most sophisticated strategic games in Asia today? asks Varun Arya.
A special court in Mumbai has denied bail to Pune businessman Amit Thepade in a Rs 117-crore money laundering case, citing the serious threat economic offences pose to the country's financial health. The court highlighted substantial evidence linking Thepade to the crime under the Prevention of Money Laundering Act (PMLA).
India's household debt climbed to 41.3 per cent of gross domestic product (GDP) at the end of March 2025, marking a sustained rise from its five-year average of 38.3 per cent, with consumption-related loans accounting for bulk of the borrowings, the Reserve Bank of India (RBI) said in its Financial Stability Report.
Reserve Bank of India (RBI) Governor Sanjay Malhotra, and Deputy Governors Poonam Gupta, T Rabi Sankar, Swaminathan J, and S C Murmu on Friday addressed issues during the post-policy media interaction.
Ask rediffGURU and PF expert Nitin Narkhede your mutual fund and personal finance-related questions.
A man in Uttar Pradesh's Chandauli district has been arrested for allegedly killing his younger brother due to a property dispute and ongoing financial tensions. The accused confessed to the crime, citing humiliation and a desire to control his brother's assets as motives.
A special court in Mumbai has denied bail to Pune businessman Amit Thepade in a Rs 117-crore money laundering case, citing the serious threat economic offences pose to the country's financial health.
At present, bank depositors get an insurance cover of Rs 1 lakh on their amount by the Deposit Insurance and credit Guarantee Corporation.
BJP state president Rajeev Chandrasekhar, contesting from Nemom, Kerala, declares assets exceeding 93 crore, including movable and immovable properties, ahead of the upcoming Assembly elections.
CPI(M) state secretary M V Govindan has accused the Congress party of failing to deliver on its promise to construct houses for victims of the 2024 Wayanad landslide, alleging lack of transparency in funds collected and spreading misinformation about the state government's policies.
Self-styled godman Ashok Kharat, already facing rape charges, is now under investigation for opening over 130 accounts with cooperative credit societies and conducting transactions worth approximately Rs 63 crore.
Fino Payments Bank (Fino) has become the first such entity to get an in-principle approval from the Reserve Bank of India (RBI) to transition into a small finance bank (SFB).
Self-styled godman Ashok Kharat, already facing rape charges, is now under investigation for suspicious financial activities involving numerous accounts and large transactions.
Your money is protected by the Deposit Insurance and Credit Guarantee Corporation.
For India, much is at stake: Crucial energy supplies traversing the Strait of Hormuz, the fate of its 10 million citizens living and working in West Asia -- who send generous remittances home -- and its major trade links with the region.
The Motor Accident Claims Tribunal (MACT) in Thane has awarded 47.28 lakh in compensation to a man who sustained severe injuries and physical disability after being struck by a speeding motorcycle in 2017.
The government has decided to discontinue the Gold Monetisation Scheme (GMS) starting from Wednesday in view of the evolving market conditions, the finance ministry said. However, the banks may continue their short term gold deposit schemes (1-3 years), the ministry said in the statement on Tuesday. Till November 2024, approximately 31,164 kilograms of gold have been mobilised under GMS.
Delhi Police has initiated legal action against social media accounts spreading rumours and misleading content related to the Uttam Nagar murder case, including a viral video seeking financial donations. Authorities have frozen a suspect bank account containing nearly Rs 37 lakh and are working with social media platforms to remove inflammatory content.
'With 27 days to go, the total bank deposits has come tantalisingly close to the Rs 14 lakh crores of banned notes which was in the financial system on November 8.' 'Black money hoarders may have actually laundered their black money into white,' argues Rajeev Sharma.
Banks have been borrowing heavily from the Tri-Party Repo (TREPS) market and deploying those funds into the Standing Deposit Facility (SDF) of the Reserve Bank of India (RBI), which is offering higher interest rate than the former, leading to increased volumes in the SDF window. The weighted average TREPS rate was trading at 5.66 per cent on Monday, 9 basis points lower than the SDF rate which currently stands at 5.75 per cent.
Only bona fide victims would be compensated by banks within five days of receiving the complaint.
Mumbai police have arrested a man from Gujarat for his alleged involvement in a cyber fraud case where a senior citizen was duped of Rs 2.25 crore after being threatened with arrest in a fake terrorism-related probe.
Delhi Police have arrested three men and bound down a woman in connection with a cyber fraud operation that allegedly cheated a grocery shop owner of Rs 17 lakh through fake stock market investments.
With Income Tax Act 2025 in force, your tax choice can quietly cost you big money if you're not paying attention. Ramalingam Kalirajan explains how
Tamil Nadu Chief Minister M K Stalin pledges to double the monthly grant if his DMK party secures victory in the upcoming assembly election, aiming to empower women and secure their support.
The CBI has conducted searches across multiple states in connection with a large-scale online financial fraud involving the overseas fintech platform 'Pyypl'.
