Indian benchmark stock indices, Sensex and Nifty, closed lower due to profit-taking, a spike in wholesale price-based inflation, and firm crude oil prices, despite some support from easing intraday crude oil prices and rupee appreciation.
A businessman in Ratlam was allegedly defrauded of Rs 55 lakh by cyber criminals posing as police officers. The fraudsters claimed his mobile number was linked to Pakistan's ISI and threatened legal action, coercing him to transfer funds. Three accused have been apprehended, and Rs 20 lakh of the defrauded amount has been blocked.
Indian benchmark indices Sensex and Nifty experienced declines in early trade, ending a two-day rally, driven by a spike in Brent crude oil prices above USD 101 per barrel and investor caution ahead of the Reserve Bank of India's monetary policy decision. Track Sensex, Nifty on October 7.
A Delhi court has rescinded a Look-Out Circular (LOC) against Akash Gupta, an accused in a Rs 247-crore Punjab National Bank fraud case, stating that the seriousness of an allegation cannot be the sole reason for its continued operation. The court noted Gupta's cooperation and previous adherence to travel conditions.
The Reserve Bank of India on Wednesday raised its policy repo rate by 25 basis points to 5.50 per cent, beginning a rate-hike cycle as rising inflation risks, elevated global yields and resilient domestic growth strengthened the case for tighter monetary policy. The decision by the Monetary Policy Committee marks a shift from its August policy, when it kept the repo rate unchanged at 5.25 per cent and retained a neutral stance while seeking greater clarity on the inflation outlook and growth-inflation balance.
Indian IT stocks have experienced their most significant weekly surge in 18 years, with the Nifty IT index climbing 11.72 per cent, as a global sell-off in AI-linked equities redirected investor attention towards India's IT services sector. This shift aligns with a JP Morgan report identifying India as a 'natural AI hedge' due to its large, liquid market and strong domestic institutional investor base.
Bank fraud is no longer just an external cyber threat -- insiders with legitimate access can exploit banking systems, trusted credentials and institutional blind spots to quietly siphon money.
PFRDA Chairperson S Ramann announced an ambitious target to add 2-3 crore new subscribers to the National Pension System (NPS) within the next two years. This growth will be significantly driven by the new 'NPS Tatkal' scheme, which enables direct enrolment and contributions via UPI applications, making the pension system more accessible, especially in tier 2 and tier 3 cities and for the informal sector.
Nurpur police froze assets worth Rs 74.12 lakh belonging to Ramesh Kumar, an accused in an NDPS Act case. The frozen assets include a building and a tractor, acquired through alleged illicit drug trade, as part of a broader campaign against drug trafficking in the state.
Shabnam Sinha is set to take over as the Chairperson of Airtel Payments Bank for a three-year term starting October 1, 2026, succeeding Sunil Mittal, who concludes his tenure as non-executive Chairman.
Indian benchmark indices, Sensex and Nifty, experienced a sharp decline at the close of trade, with the Sensex dropping 539 points and the Nifty falling below 24,100, primarily due to selling pressure in HDFC Bank and ongoing geopolitical uncertainties.
Indian benchmark equity indices, Sensex and Nifty, closed higher on Monday, driven by softer-than-expected US jobs data which reduced expectations of aggressive monetary tightening by the US Federal Reserve, boosting risk appetite across emerging markets.
'It's not about individuals operating the mule accounts being more or less skilled. Instead, 'lower-level' refers to the role the individual account plays in the broader mule network.'
Indian benchmark indices Sensex and Nifty traded lower in early sessions due to profit-taking and significant foreign institutional investor (FII) outflows, despite strong performance from IT stocks like Tech Mahindra. Track Sensex, Nifty on October 16.
A report by IIT Bombay suggests that the proposed Merchant Discount Rate (MDR) framework for Unified Payments Interface (UPI) transactions needs rationalisation before implementation to safeguard public trust in the digital payments system, highlighting that UPI's long-term economic benefits outweigh potential incremental income from merchant fees.
The Reserve Bank of India (RBI) has marginally raised its retail inflation forecast for the current fiscal year (FY27) to 5.2 per cent from 5 per cent, citing increasing price pressures across various commodities. Concurrently, the Monetary Policy Committee (MPC) unanimously decided to hike the key interest rate (repo) by 25 basis points to 5.5 per cent, shifting its stance to 'calibrated tightening'.
The Enforcement Directorate has conducted searches across Keralam in connection with alleged irregularities amounting to Rs 92 crore in three cooperative societies: Urban Cooperative Society, Thennela Service Cooperative Society, and Kuttanellur Cooperative Bank.
The Rajya Sabha has passed The Bankers' Books Evidence Bill, 2026, which aims to replace a British-era law and allow digital and virtual records to be admissible as evidence in courts. This legislation aligns with contemporary digital banking practices and extends a uniform evidential framework to various financial entities, including NBFCs and fintech companies. Finance Minister Nirmala Sitharaman highlighted the bill's role in strengthening public confidence and safeguarding customer privacy. The bill's passage, however, saw an Opposition walkout over unrelated issues.
A sophisticated cross-bank syndicate is systematically defrauding non-resident Indians (NRIs) and elderly citizens by exploiting their fixed deposits through forged documents and fictitious loans, often involving colluding bank employees and real estate deals.
The Reserve Bank of India's Monetary Policy Committee (MPC) has commenced its three-day meeting, with a majority of economists and bankers anticipating a 25 basis point rate hike to counter escalating inflation risks, particularly from West Asia conflicts.
India's foreign exchange reserves experienced a substantial drop of USD 18.343 billion, settling at USD 747.557 billion for the week ending September 25, according to the Reserve Bank of India.
Private banks in India are aggressively mobilising Foreign Currency Non-Resident (Bank), or FCNR(B), deposits by raising interest rates and using website countdowns, as the Reserve Bank of India's swap window is set to close on August 31, earlier than initially planned.
Wipro reported a marginal 1.40 per cent decline in consolidated net profit to Rs 3,200.6 crore for the July-September quarter of FY27, despite a 9.1 per cent increase in revenue from operations to Rs 24,752.7 crore.
Indian benchmark indices Sensex and Nifty experienced declines in early trade, influenced by the Reserve Bank of India's (RBI) recent repo rate hike and its signal for continued monetary tightening, coupled with rising crude oil prices and foreign fund outflows. Track Sensex, Nifty on October 8.
Police in Ghazipur, Uttar Pradesh, have arrested a father-son duo and an associate for allegedly running an elaborate job scam. They defrauded job seekers of lakhs of rupees by promising overseas employment using fake visas, flight tickets, and other forged documents. The accused operated a cyber centre and used online advertisements to lure victims, collecting money in instalments before providing fraudulent paperwork.
Seven individuals have been booked in Mumbai for allegedly orchestrating a Rs 3.63 crore cheating scheme. They defrauded 16 people by promising discounted MHADA flats meant for mill workers in Dadar, failing to deliver the properties, and issuing dishonoured refund cheques. The case has been registered at Bhoiwada police station.
Police in Bahraich, Uttar Pradesh, have arrested a married couple for allegedly murdering the wife's lover, stuffing his body in a plastic sack, and dumping it in a canal. The victim, Akash Gupta, was lured to their home, and the woman's father and brother are also implicated and currently absconding.
Indian equity markets, led by the Nifty 50, saw gains following a pullback in Brent crude prices towards $101-102 a barrel and weaker-than-anticipated US jobs data, which eased concerns about a Fed rate hike. However, analysts caution that markets are likely to remain volatile in the near term.
An MP-MLA court in Sultanpur has set October 26 as the date to pronounce its verdict in a defamation case against Rahul Gandhi. The case stems from alleged objectionable remarks made by Gandhi against then BJP president Amit Shah in 2018. Gandhi is required to appear in court on the verdict day.
Indian benchmark indices Sensex and Nifty opened higher, extending their previous session's rally, driven by a decline in global oil prices, despite continued selling by Foreign Institutional Investors.
State Bank of India (SBI) is extensively using artificial intelligence to underwrite nearly Rs 1 lakh crore in MSME loans and automate the processing of cheques up to Rs 10,000. This AI adoption aims to enhance efficiency, free up employee bandwidth, and improve customer service across various banking functions.
P V Sindhu and Lakshya Sen faced early exits at the Denmark Open badminton tournament on Tuesday, while Kidambi Srikanth and Tanvi Sharma secured hard-fought victories to advance to the second round. Sindhu lost to Yvonne Li, and Sen was defeated by Chou Tien Chen. Srikanth will face Alex Lanier, and Tanvi Sharma will play Yvonne Li next.
Festival shoppers are increasingly turning to EMIs and other affordability options for high-value purchases, especially beyond metro cities.
India's wholesale price-based inflation surged to 11.39 per cent in September, up from 9.92 per cent in August, primarily driven by increasing prices of food, manufactured items, and fuel and power.
The Jammu Crime Branch has filed a chargesheet against an education consultant, Lalit Sharma, for allegedly duping multiple individuals of over Rs 37 lakh by falsely promising to arrange work visas abroad, particularly to Canada. The investigation confirmed the receipt of funds and established an offence under Section 420 of the IPC.
Keralam police have issued a public caution against cyber fraudsters who use fake customer care numbers of banks and e-commerce platforms to deceive individuals and steal their personal and financial information. Fraudsters post fake numbers online, then contact victims posing as support agents, asking them to install remote access apps or make small payments to gain access to sensitive data.
Indian benchmark indices, Sensex and Nifty, surged over 1 per cent, recovering from two days of losses, driven by a strong rally in IT stocks, particularly TCS, and a moderation in global crude oil prices.
The Securities and Exchange Board of India (Sebi) has confirmed its interim directions against Rajesh Exports and its chairman, Rajesh Mehta, due to unresolved concerns regarding financial disclosures, consolidation of overseas subsidiaries, and alleged fund routing through related parties.
Sources clarify that the NCLT's approval of a repayment plan for Essel Group founder Subhash Chandra does not signify a 99.97 per cent write-off of Rs 22,000 crore in bank loans, as the figure represents claims against him as a personal guarantor, not debt personally borrowed.
The Supreme Court has issued a directive for the Shri Banke Bihari Temple in Vrindavan, mandating that all donations must be deposited into official donation boxes or the online temple treasury. This comes amidst serious allegations of sevayats siphoning off funds and obstructing online donation methods, highlighting the need for a transparent mechanism in temple management.
