A 52-year-old labourer, Santosh Kumar Gupta, has been arrested in New Delhi for allegedly facilitating an online investment fraud by lending his bank account to route Rs 5 lakh of defrauded money. He is suspected of acting as an India-based facilitator for an international cyber fraud network.
Zelle, a major US peer-to-peer payment service, is set to launch in India by the end of this year, marking its first international expansion. The move aims to tap into India's large remittance market, offering a service similar to UPI but integrated with bank apps. Zelle also introduced ZelleUSD, a stablecoin for future global payment capabilities.
Markets regulator Sebi on Tuesday proposed introducing gift cards or gift prepaid payment instruments (PPIs) for investments in mutual funds to improve financial inclusion through onboarding of new investors in the space.
Gurugram Police have arrested a man from Hapur, Uttar Pradesh, for his alleged involvement in an Rs 8.30 lakh cyber fraud. The accused provided his bank account, which was used to receive the cheated amount from a victim who was subjected to a "digital arrest" by fraudsters impersonating government officials. The investigation is ongoing to trace other individuals involved.
Gurugram Police have arrested a man from Hapur, Uttar Pradesh, for his alleged involvement in an Rs 8.30 lakh cyber fraud. The accused provided his bank account, which was used to receive the cheated amount from a victim who was subjected to a "digital arrest" by fraudsters impersonating government officials. The investigation is ongoing to trace other individuals involved.
Police in Bhilwara, Rajasthan, have arrested Shahid Mansuri on charges of forced religious conversion, sexual assault, blackmail, and financial exploitation of a 35-year-old woman. The woman alleged Mansuri befriended her, sexually assaulted her, blackmailed her with videos, forced her conversion and marriage in Delhi, and along with his family, extorted money and valuables from her. An investigation is ongoing to determine the involvement of others and examine financial transactions.
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.
The Enforcement Directorate (ED) has arrested a former Kotak Mahindra Bank executive, Pushpinder Singh, alleged to be the mastermind of a Rs 145-crore fraud involving Panchkula municipal corporation officials, bank employees, and private individuals.
Kerala Police have issued a warning about a new form of cyber fraud targeting people buying mattresses online. Fraudsters pose as fake customer care representatives of mattress companies and pressure customers into making immediate payments.
Gurugram police have arrested two individuals, Mohammad Saif Ali and Saurabh Kumar, for their involvement in a Rs 78 lakh digital arrest cyber fraud. The victim was coerced into transferring money after being intimidated by a scammer posing as a police officer. Investigations revealed that one of the accused's bank accounts, used to receive defrauded funds, was linked to 52 other fraudulent transactions.
A farmer in Maharashtra received a message indicating a one-paisa credit instead of the expected Rs 2,000 under the PM-Kisan scheme, causing confusion. The Agriculture Department later clarified it was a technical error and the full instalment had been successfully processed.
The government maintained a strong pace of capital expenditure, which jumped nearly 24 per cent to Rs 3.40 trillion in April-June.
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.
Former India cricketer Rajesh Chauhan has been booked for allegedly cheating a man of over Rs 15 lakh by promising a transport contract with a steel company, a case registered on court orders under Section 316(2) of the Bharatiya Nyay Sanhita.
The data may include details of foreign bank accounts, investment accounts, certain financial investments, interest income, dividends and other specified financial income held by Indian tax residents abroad.
'Earlier, people used to hand money directly to priests after a ritual, and priests would keep it in their own pockets. We completely stopped that practice.'
The Haryana government has suspended two IAS officers, Ram Kumar Singh and Pardeep Kumar, in connection with an ongoing investigation into a Rs 590-crore fraud case involving IDFC First Bank.
The Bombay High Court has directed HDFC Bank to refund Rs 38 lakh to a Pune businessman who lost the amount in a digital fraud, citing the account holder's lack of fault and RBI guidelines on customer protection.
Rising stressed debt and past exposures like Reliance Capital, Yes Bank push EPFO to frame exit rules for its portfolio.
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.
Madhya Pradesh Congress MLA Rajendra Bharti has challenged his conviction and three-year jail sentence in a cheating case involving forged bank records. The Delhi High Court has issued a notice to the prosecution and scheduled a hearing for April 15.
Amitabh Jhunjhunwala, former Managing Director of the Anil Dhirubhai Ambani Group, has been remanded in CBI custody in an alleged bank fraud case involving Reliance Commercial Finance Limited (RCFL) worth Rs 9,280 crore. The CBI alleges misappropriation of loan funds and violations of RBI guidelines, while Jhunjhunwala's lawyers claim he is a scapegoat.
The Reserve Bank of India (RBI) has declared a record Rs 2.87 lakh crore dividend to the government for the 2025-26 financial year, offering significant financial flexibility amidst global economic uncertainties.
Millions of EPFO subscribers can now check whether 8.25% annual interest for FY2025-26 has been credited to their provident fund accounts.
The CBI has filed two chargesheets in connection with the siphoning of Rs 657 crore from Haryana government and Chandigarh Smart City Limited funds held at IDFC First Bank. The fraud involved fictitious transactions, shell entities, and alleged gold purchases and real estate investments, with IDFC First Bank having already reimbursed the Haryana government.
India's remittance inflows have remained robust despite the West Asia conflict, driven by precautionary transfers and diversification of remittance sources, with bankers expecting continued stability for the year.
A 70-year-old man from Thane was allegedly duped of Rs 40.5 lakh by cyber fraudsters posing as police officers who threatened him with arrest in a fake terror funding case.
Gurugram police have arrested five individuals in connection with a Rs 42.92 lakh digital arrest scam. The fraudsters posed as CBI officers, intimidated a victim, and coerced them into transferring a large sum of money. The arrested individuals include account holders and those who withdrew the defrauded cash.
Private sector lender Yes Bank reported a 45 per cent increase in its March quarter net profit to Rs 1,068 crore, with its new managing director and CEO, Vinay M. Tonse, signalling the end of its over six-year-long recovery phase and a readiness to align loan growth with the broader banking sector.
The CBI has conducted searches across Chandigarh, Panchkula, and Delhi-NCR in connection with an alleged Rs 661 crore fraud involving the siphoning of government funds from Haryana government departments and the Chandigarh administration. The probe targets public servants, bank officials, and a private consultancy, with a chargesheet already filed against some accused.
A property near Heathrow Airport, London, worth Rs 7.5 crore has been attached by the Enforcement Directorate (ED) in connection with a bank loan fraud case involving Neo Corp International Ltd.
Two individuals have been arrested in Dhanbad, Jharkhand, for allegedly creating a fake social media account in the name of the Palghar district collector and defrauding a local resident of Rs 50,000. Police successfully recovered the entire amount.
NSE's draft prospectus discloses a legal dispute over 5,000 shares allegedly transferred by mistake into an individual investor's demat account.
The Central Bureau of Investigation (CBI) is set to take over the investigation into the embezzlement of 590 crore from Haryana government accounts held with IDFC First Bank in Chandigarh. The Haryana government decided to hand over the probe to the central agency last month following allegations that funds were diverted for personal use through shell companies and real estate investments.
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.
A 41-year-old man in Thane has alleged that four individuals kidnapped him, assaulted him, and forced him to transfer Rs 47.25 lakh, blaming him for stock market losses incurred by their clients. The accused are middlemen who invested through the complainant.
Delhi Police have arrested five individuals for allegedly supplying mule bank accounts to cyber fraud syndicates with links to Dubai. The arrests follow a complaint regarding a stock market investment scam where the victim was duped of over Rs 12 lakh.
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. The disqualification has sparked a political row, with the Congress party alleging a violation of democratic process.
Delhi Police have registered an FIR concerning allegations of a 'ticket-for-money' scheme involving individuals connected to the Congress party, following a complaint by a Haryana-based man who claims he was asked to pay substantial amounts to secure an election ticket for his wife.
Telangana police have dismantled a large network operating illegal mule bank accounts used for fraudulent financial transactions, arresting 13 suspects and uncovering transactions worth approximately Rs 138 crore.
