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 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.
Delhi Police have arrested a man from Madhya Pradesh in connection with a multi-crore bank fraud case involving forged cheques and fraudulent withdrawal of funds from an Amity University account.
The Enforcement Directorate (ED) is set to appeal the Delhi High Court's decision to quash a money laundering case against news portal NewsClick and its editor-in-chief Prabir Purkayastha, arguing that the High Court 'overlooked or left unaddressed' critical contentions regarding alleged FDI rule violations and false representations to authorities.
The Reserve Bank of India (RBI) has debunked reports of gold sales, stating that its physical stock of gold remains unchanged at 880.52 tonnes, countering claims of selling approximately USD 12 billion to protect foreign-currency reserves.
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.
India achieved a current account surplus of USD 7.1 billion, or 0.7 per cent of GDP, in the January-March quarter of 2025-26, primarily boosted by robust services exports and increased remittances from overseas Indians, according to recent Reserve Bank of India data.
As the rupee weakens, wealthy families are accelerating investments in global assets.
'The MPC is likely to prioritise the key mandate, which is inflation, while relying on other instruments to stabilise the currency and bond markets.'
Students and families must stress test repayment capacity based on Indian salary standards.
The National Payments Corporation of India (NPCI) is set to consider linking the ATM interchange fee to the Wholesale Price Index (WPI), alongside a potential hike from the current 19 to 21-22, which could impact customer charges for transactions beyond the free limit.
Read all account documents, ask questions, and conduct basic due diligence before agreeing to become a joint holder.
'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.
Foreign Portfolio Investors (FPIs) have withdrawn nearly Rs 43,000 crore from Indian equities in the first week of June, contributing to a total outflow of Rs 2.67 lakh crore in 2026, driven by a global shift towards technology and AI-linked opportunities and persistent rupee depreciation.
If a bank shuts down, every account holder it has will get back their money for a maximum limit of Rs 5 lakh. It was Rs 1 lakh before.
'You empower a man, you are not necessarily empowering a family, you are just empowering him.'
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.
Delhi Police have arrested a 26-year-old man for allegedly siphoning off Rs 1.48 lakh from his paralysed brother-in-law's bank accounts after gaining the family's trust as his caretaker.
The Supreme Court has scheduled a July hearing for the Rs 500 crore money decree case involving Ras Al Khaimah Investment Authority (RAKIA) and industrialist Nimmagadda Prasad, following the failure of a mediation process led by former Chief Justice of India U U Lalit.
Two individuals have been arrested in Belagavi, Karnataka, for allegedly stealing gold ornaments worth Rs 1.2 crore from the residence of an elderly doctor couple. Police have recovered a significant portion of the stolen goods and are continuing efforts to retrieve the remainder.
'My resignation is a larger governance and governance-plus kind of an issue, which the board of directors of the bank should be introspecting.'
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.
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.
TVS Venu Group has agreed to acquire a minority stake of up to 9.9 per cent in Jana Small Finance Bank, including a 4.9 per cent ownership by TVS Motor Company, through a combination of primary issuance of warrants and a secondary purchase.
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.
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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.
Police in Gadag, Karnataka, have arrested five men for allegedly luring students with false promises of scholarships to open bank accounts for illegal transactions.
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.
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 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.
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.
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.
Odisha Police busted an IPL betting racket in Rajgangpur, Sundargarh district, arresting five individuals and seizing cash and frozen funds.
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.
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.
