Indian benchmark equity indices, Sensex and Nifty, rebounded after a two-day losing streak, driven by strong buying in blue-chip IT stocks and positive global market cues, with the Sensex climbing 330.92 points.
The asymmetry in deposit and credit growth is the biggest challenge before the Indian banking industry. For every 100 deposit that a bank mobilises, it needs to keep 3 with the banking regulator in the form of cash reserve ratio on which it doesn't earn any interest. Another 18 is used for buying government bonds (statutory liquidity ratio). This means, a bank is left with 79 for giving credit. Add to this, its capital which can be used for giving loans. Most banks are facing a fund crunch. They need to find ways to attract deposits if they want to sustain credit growth, explains Tamal Bandyopadhyay.
Finance Minister Nirmala Sitharaman stated that India is likely to sustain economic growth of 7 per cent or more in 2026-27, continuing the pace recorded since the Covid-19 pandemic, despite geopolitical uncertainties and supply-chain disruptions.
The Enforcement Directorate has attached assets worth approximately Rs 112.90 crore, including a residential property in Texas, USA, in a money-laundering case. The case involves a Noida-based air-conditioner components manufacturer, LEEL Electricals Limited, and its promoters, accused of defrauding a consortium of banks led by SBI of Rs 376 crore through manipulated financial statements and siphoning off funds.
Foreign Portfolio Investors (FPIs) have significantly increased their investment in Indian equities, infusing Rs 23,544 crore in August, driven by improving quarterly earnings, a stable rupee, and positive market prospects.
'You have to get private investment to somewhere between 35% to 36% of GDP. It is hovering about 30%-31%.'
Whether it's a five-star banquet hall, a school lunch supplier, a blood bank, or a Bollywood actors' surrogate advertisements, Tukaram Mundhe seems to have an opinion, a bye-law, and very possibly an inspection team on standby.
India's foreign exchange reserves saw one of their largest weekly expansions, surging by USD 14.136 billion to reach USD 707.002 billion during the week ended August 7, according to the Reserve Bank of India.
India's statistics ministry has defended its newly released economic growth estimates, stating that revisions to last year's GDP and the divergence between different price measures reflect updated data and estimation techniques rather than an attempt to artificially boost headline growth.
Manappuram Finance has announced the appointment of Ashish Singh as its new managing director and chief executive officer, effective January 1, 2027, marking a significant shift from its family-led governance structure.
Indian golfer Diksha Dagar has dropped out of the Top 10 in the Ladies European Tour (LET) Order of Merit, now ranking 11th after missing the cut at the VP Bank Swiss Ladies Open. Other Indian golfers like Pranavi Urs, Avani Prashanth, and Aditi Ashok also feature in the rankings.
Six individuals, including the alleged mastermind and a website developer, have been arrested for operating a sophisticated fake airline job racket. The fraudsters used social media ads and fake websites to solicit fees for aviation diplomas, promising jobs at Indira Gandhi International Airport, and duped numerous job seekers before being caught.
Gujarat CID has arrested Rafiqul Alam, the alleged 'mastermind' behind 1,090 cybercrimes totalling Rs 1,071.5 crore, who was found to have links with China-based criminals and converted illicit funds into cryptocurrencies.
Delhi Police have arrested seven individuals, including a former bar singer and an ex-banker, for allegedly posing as CBI officers to conduct fake raids and extort money or valuables in Delhi and Mumbai. The gang reportedly used fake ID cards and notices to intimidate targets.
Indian benchmark equity indices, Sensex and Nifty, saw early gains driven by strong buying in blue-chip bank stocks, fresh foreign fund inflows, and a decline in global crude oil prices, boosting investor confidence.
Arunachal Pradesh Chief Minister Pema Khandu highlighted that the success of UPI, which handles nearly half of the world's real-time digital transactions, stems from a collaborative ecosystem including financial inclusion, digital identity, and affordable internet. He attributed this digital payments revolution to the vision of PM Narendra Modi.
Vice President CP Radhakrishnan launched Gnani Artha, an end-to-end sovereign AI stack for Indian enterprises and public institutions. He emphasised that new technologies, including AI, will enhance ease of work and create more jobs, drawing parallels with the IT industry's growth. The initiative, backed by the India AI Mission, aims for self-reliance and includes the Gnani Evon v3.3 language model and Gnani Plexus AI platform, offering cost-effective Indic language capabilities.
Vice President CP Radhakrishnan launched Gnani Artha, an end-to-end sovereign AI stack for Indian enterprises and public institutions. He emphasised that new technologies, including AI, will enhance ease of work and create more jobs, drawing parallels with the IT industry's growth. The initiative, backed by the India AI Mission, aims for self-reliance and includes the Gnani Evon v3.3 language model and Gnani Plexus AI platform, offering cost-effective Indic language capabilities.
A data breach does not end when the headlines fade. For victims, stolen personal information can fuel fraud, identity theft and financial losses for years.
Nepal's devastating flash floods have created a worrisome flood situation in Bihar.
A training aircraft operated by Garg Aviation crashed in Kanpur, Uttar Pradesh, killing a trainee pilot and an instructor. The Tecnam aircraft went down near Nathapurwa village shortly after take-off. Authorities, including the DGCA, are investigating the cause of the fatal accident.
A new book, "The River That Remembers: Microbial Intelligence of Nature" by Padma Shri awardee Ajai Kumar Sonkar, claims that the Triveni Sangam at Prayagraj is a unique viral-bacterial laboratory. It suggests that the sacred dips taken by devotees lead to an intense microbial exchange, accelerating phage evolution, especially during events like Kumbh Mela, as diverse human microbiota interact with the river's existing microbiome.
Five friends from Raipur, Chhattisgarh, narrowly escaped being swept away by flash floods in Nepal's Bhote Koshi and Trishuli river valleys thanks to an impromptu tea break. They endured two tense days on higher ground, witnessing devastation, before returning home safely, with a poignant Raksha Bandhan moment providing comfort.
For the second time in two years, Karnataka minister B Nagendra resigned from the state Cabinet on Friday amid the Opposition heat over his alleged involvement in the Rs 89 crore Valmiki Corporation scam.
A new barrier lake has formed near the source of Nepal's Bhote Koshi River, with Chinese authorities warning of a potential breach. This poses a fresh flood risk to downstream areas in Nepal, prompting warnings for residents and calls for diplomatic consultations to manage cross-border glacier risks.
An Indian national, Jay Sunilbharthi Goswami, has been arrested and charged in the US for his alleged role as a "money mule" in a multi-million-dollar internet and telephone fraud scheme targeting elderly victims. Goswami, a Gujarat native, was detained in Canada while attempting to flee to Qatar, facing charges including wire fraud and money laundering.
Tata Sons approached the RBI in 2024 seeking de-registration after becoming debt-free, a move that would allow it to remain a privately held, unlisted company. The application has remained pending.
India is relying heavily on its boxing, weightlifting, and athletics contingents to maintain its two-decade streak of top-five finishes at the Commonwealth Games, which opens in Glasgow.
Union Home Minister Amit Shah lauded UPI on its 10th anniversary, highlighting its role in India's digital transformation. Launched by NPCI in 2016, UPI has become the world's largest real-time payment system, witnessing a massive surge in transaction volume and value, demonstrating its success in empowering people with swift, seamless, and secure digital transactions.
Keeping KYC information accurate and current should, therefore, be seen not merely as meeting a regulatory requirement, but as an important part of safeguarding one's own financial identity and safety, explains RBI Deputy Governor J Swaminathan.
For millions of Indians, this number has become one of the most important financial indicators. It can influence not only whether a bank approves a loan but also the interest rate you pay, the credit limit you receive and, in some cases, how quickly your application is processed.
'India was the emirate's largest international source market by hotel guest volume.'
Ahmedabad Cyber Crime Branch has uncovered a Rs 1.5 crore WhatsApp fraud, leading to the arrest of two key SIM and OTP suppliers in West Bengal. The investigation revealed a sophisticated international cybercrime network spanning China, Pakistan, India, and Hong Kong, operating a "boss scam" and utilizing a "Cybercrime as a Service" model. Police recovered a significant portion of the defrauded amount and secured thousands of devices.
The Supreme Court has listed for hearing on August 31 an appeal of Sumit Roy, personal assistant to Trinamool Congress MP Abhishek Banerjee, challenging the August 6 order of the Calcutta high court denying him pre-arrest bail in the Salboni land-grabbing case.
Enjoy Alia-Sharvari's fighter fervour, back to back Bobby Deol and tons more on OTT this week.
A stolen mobile phone belonging to an 88-year-old man has helped the Delhi police unearth an interstate cyber-fraud syndicate allegedly operating through a three-stage network spread across Rajasthan and Uttar Pradesh, an officer said on Monday.
The iQOO Z11 has joined the brand's Z series in India, with sales set to begin on August 25.
Prime Minister Narendra Modi celebrated the Unified Payments Interface (UPI) completing a decade, calling it a major turning point in India's digital payment journey. Launched in 2016, UPI has become the backbone of India's digital payments ecosystem, showing exponential growth in transaction volume and value, and is a key pillar of the Digital Public Infrastructure.
It's not about how much you earn -- it's about how you borrow and repay.
The absolute amount of money raised is more than three times the 2 trillion seen before the pandemic (June 2019).
