Madhya Pradesh Congress MLA Rajendra Bharti has been disqualified from the state legislative assembly after being convicted in a bank fraud case involving the tampering of bank records to secure illegal interest payments.
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.
The RBI will now charge banks different deposit insurance fees based on how risky they are, allowing safer banks to pay less premium.
The Income Tax Department has clarified the applicability of TDS (Tax Deducted at Source) on interest income for banking companies under the Income Tax Act, 2025, aligning it with the Banking Regulation Act, 1949.
A Delhi court sentenced Madhya Pradesh Congress MLA Rajendra Bharti and a former bank employee to three years' imprisonment each in a cheating case involving the forging of bank records to obtain illegal interest payments between 1998 and 2011.
'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.
Not just unclaimed bank deposits, there are thousands of crores of rupees locked in unclaimed shares and insurance policies lying with many institutions across India.
The Enforcement Directorate conducted searches at multiple locations in a money laundering case linked to an alleged Rs 145 crore fraud involving fixed deposits of the Panchkula Municipal Corporation.
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.
Delhi Police have dismantled a cyber fraud racket based in Mewat, arresting four individuals for allegedly impersonating Indian Air Force officials and defrauding businessmen using forged documents.
'My resignation is a larger governance and governance-plus kind of an issue, which the board of directors of the bank should be introspecting.'
Police in Gautam Buddh Nagar claim an accused linked to violent labour protests in Noida received over Rs 1 crore from foreign countries in their personal bank account.
The central bank is yet to consider actions such as a rate hike or mobilising dollar inflows from non-resident Indians to boost forex reserves as it cannot afford to continue with them for long when the rupee's internationalisation tops its agenda, explains Tamal Bandyopadhyay.
The Jharkhand Criminal Investigation Department (CID) has arrested another person in connection with the alleged Hazaribag treasury scam, bringing the total number of arrests to six. The investigation, ordered by the Jharkhand government, focuses on the illegal withdrawal of money from the Hazaribagh Treasury. A Special Investigation Team (SIT) has been formed to handle the case.
Former HDFC Bank chairman Atanu Chakraborty cites misselling of AT-1 bonds and underperformance as key reasons for his resignation, dismissing personal differences as a major factor.
A special CBI court in Mumbai has convicted a retired bank manager and nine others in connection with a 2004 loan fraud case, sentencing them to prison terms ranging from one to five years.
Public sector banks (PSBs) have seen a sharp drop in household deposits from 70.6 per cent to 63 per cent in contrast with private banks, which witnessed a surge from 27.1 per cent to 34.1 per cent.
The combined income of Assam Chief Minister Himanta Biswa Sarma and his wife has doubled to Rs 35.16 crore in 2026, according to his election affidavit. The affidavit details the increase in movable and immovable assets of both Sarma and his wife, Riniki Bhuyan Sarma.
Delhi Police have arrested three individuals from Gujarat, Rajasthan, and Madhya Pradesh for allegedly providing mule bank accounts used to route over Rs 1.22 crore in proceeds from various cyber fraud schemes.
A city court has remanded former West Bengal minister Sujit Bose to Enforcement Directorate (ED) custody until May 21 in connection with the alleged municipal recruitment scam. Bose, a Trinamool Congress leader, was arrested after questioning and is accused of concealing information and making contradictory statements.
Odisha Police busted an IPL betting racket in Rajgangpur, Sundargarh district, arresting five individuals and seizing cash and frozen funds.
Pakistan has received the second and final tranche of USD 1 billion from Saudi Arabia, completing a USD 3 billion aid package aimed at boosting its foreign reserves, the state bank said.
India's mergers and acquisitions (M&A) market is projected to maintain an annual run-rate of approximately $200 billion, evenly split between domestic, inbound, and outbound transactions, despite global geopolitical turbulence, according to Rajesh Singhi, global co-head, M&A Advisory, Standard Chartered Bank.
The Enforcement Directorate (ED) has arrested three founders of online gaming platform Gameskraft in connection with a money laundering case linked to alleged fraud.
Police in Gadag, Karnataka, have arrested five men for allegedly luring students with false promises of scholarships to open bank accounts for illegal transactions.
Reliance Industries Ltd reported a 12.5 per cent fall in its March quarter net profit, primarily impacted by the global energy crisis affecting its oil and chemicals business, while its consumer-facing Jio Platforms unit saw a 13 per cent increase in profit after tax.
Yield-generating instruments like Infrastructure Investment Trusts (Invits), Real Estate Investment Trusts (Reits), and Non-Convertible Debentures (NCDs) are witnessing a surge in investor interest, contrasting with a notable slowdown in the equity primary market, which saw only one IPO in April.
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.
A gang of armed robbers targeted a State Bank of India branch in Surat, Gujarat, looting Rs 50 lakh in cash after threatening staff and customers.
The Enforcement Directorate (ED) has seized Rs 1.4 crore and incriminating documents during raids related to money laundering against suspended Punjab Police DIG H S Bhullar and his associates.
Uttarakhand STF and Dehradun Police busted an international online betting syndicate and arrested five accused allegedly involved in facilitating betting on IPL matches.
The correlation between withdrawal of deposits and the Covid death rate is stark, reveals Tamal Bandyopadhyay.
The Enforcement Directorate (ED) has arrested three founders of online gaming platform, Gameskraft, in an alleged fraud-linked money laundering case. Deepak Singh, Prithvi Raj Singh and Vikas Taneja have been taken into custody under the Prevention of Money Laundering Act (PMLA).
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.
'At the first sign of real trouble, that money will move. There will be a run.'
A Nigerian national was arrested in Delhi by the Uttar Pradesh STF for allegedly creating fake profiles of US and UK citizens on social media and cheating victims on the pretext of sending expensive gifts and foreign currency.
Faridabad police have arrested four individuals from Patna for allegedly defrauding a woman of over Rs 2.5 lakh by promising to take her to England. The accused, who operated three accounts used in the cybercrime, are in police custody and being questioned.
Delhi Police have arrested four individuals in connection with a daylight robbery near Azadpur Mandi, recovering a car purchased with the stolen money. The arrests followed an inter-state manhunt across Uttar Pradesh.
The Jharkhand Criminal Investigation Department (CID) has uncovered a money trail of Rs 10 crore related to the Bokaro treasury scam, freezing several fixed deposits and arresting multiple individuals, including police personnel and an accountant.
Preferential equity listings in India reached an unprecedented 1,307 in FY26, marking a 33% increase from the previous year and reflecting a strategic choice for companies during market volatility.
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