The Enforcement Directorate (ED) has provisionally attached assets worth approximately Rs 34.51 crore in connection with an alleged financial fraud involving the United Services Club in south Mumbai.
Sectoral funds, focused exclusively on public sector banks (PSBs), have delivered the strongest returns among domestic mutual fund (MF) categories over the past six months. However, active banking funds have significantly lagged because of their heavy tilt towards private lenders.
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 next phase of India's IPO cycle will be defined by quality, pricing discipline and investor selectivity.'
Leading non-banking financial company (NBFC) Shriram Finance on Friday said Japan-based MUFG Bank would invest Rs 39,618 crore, or $4.4 billion, to acquire a 20 per cent stake on a fully diluted basis through a preferential issue of equity shares.
'There is a challenge in repositioning yourself, maybe reinventing yourself.'
The State Consumer Disputes Redressal Commission has directed Bank of India to compensate a senior citizen for losses incurred due to unauthorized ATM transactions, citing deficiency in service and failure to adhere to security protocols.
In a move aimed at curbing the mis-selling of financial products, the Reserve Bank of India (RBI) has proposed banning incentives paid to bank staffers by third parties such as insurance companies and mutual fund houses for selling their products and services. It has also proposed that banks must ensure their user interfaces do not deploy "dark patterns" to lure customers.
Banks will be able to give loans to Indian companies for acquiring the entire equity stake or a controlling part of it in domestic or foreign firms as strategic investment that creates long-term value rather than for short-term financial restructuring if the Reserve Bank of India's (RBI's) draft circular, issued on Friday, comes to fruition.
The Reserve Bank of India (RBI) on Wednesday met the long-standing demand of banks by allowing them to finance acquisitions by Indian companies, a move that also expands banks' capital market lending in the country.
Nearly two-thirds of external commercial borrowings (ECBs) raised so far in the ongoing financial year (2025-26/FY26) have been routed through Gujarat International Finance Tec-City (GIFT City), a sharp jump from the 36 per cent recorded in 2024-25.
Fino Payments Bank asserts its compliance with GST regulations following the arrest of its MD and CEO, Rishi Gupta, by the Directorate General of GST Intelligence (DGGI). The bank clarifies that the investigation pertains to program managers associated with multiple banks and not the bank's own GST compliance.
From the 30-share Sensex pack, Infosys, ICICI Bank, Kotak Mahindra Bank, Mahindra & Mahindra, State Bank of India, HCL Technologies, Axis Bank, NTPC and HDFC Bank were among the laggards. In contrast, Maruti, IndusInd Bank, Adani Ports, ITC and UltraTech Cement defied broader market trends and ended in positive territory.
Sebi is working with other regulators to expand the CAS framework.
Gold and silver prices experienced a significant drop in the national capital due to a global selloff driven by inflation concerns, central bank policies, and geopolitical tensions.
Shares of gold finance companies Muthoot Finance and Manappuram Finance hit their respective all-time highs, gaining on the BSE during Wednesday on expectation of healthy earnings. In comparison, the benchmark BSE Sensex was down 0.14 per cent, closing at 85,408.
Investors are moving away from the commercial paper (CP) market towards certificates of deposit (CDs), as primary CD issuances and rates on these short-term instruments rise.
Mirroring the traditional hawala system, where money is sent through non-banking channels, this digital version uses the anonymity of unregulated cryptocurrency to erase the financial trail and inject cash into the domestic economy.
Households should moderate large discretionary expenses for the time being.
'They should prioritise essential spending. They should maintain an emergency fund covering 6 to 12 months of expenses.'
Lenders and shareholders of Reliance Industries Ltd (RIL) will meet on May 2 to demerge the firm's financial services business. This is expected to create a big player in segments including the NBFC (non-banking financial company) space with net worth of Rs 25,851 crore as of March 2022. According to the plan, RIL shareholders will get a share in the demerged entity for each one held in the company.
Cleaner balance sheets, regulatory support and strong growth prospects helped Indian private banks attract over $6 billion in foreign capital, with more deals expected in 2026.
Two chartered accountants have been arrested by the Enforcement Directorate in connection with a money laundering case linked to a cyber fraud involving Rs 641 crore.
Trai has ordered BFSI firms to move service and transaction calls to the 1600 series from 2026 to reduce spam, financial fraud, and rising digital arrest scams.
'Reinvention is not a hugely difficult task. With technology as available today, you can reinvent yourself pretty quickly.'
'The bigger unknown remains global geopolitics, which is inherently unpredictable, including developments in our neighbourhood.' 'Another concern is the increasing tilt of government finances towards welfare subsidies, especially at the state level.' 'This could constrain capital expenditure, which is critical for long-term growth.'
For every 100 rupees, households invested Rs 45.2 in mutual funds and equities in 2024-2025.
Analysts predict a surge in gold and silver prices as investors seek safe-haven assets due to escalating tensions in the Middle East. The impact on domestic prices will depend on the conflict's duration, with geopolitical factors and macroeconomic data also playing a role.
'It's advisable not to go overboard on a banking sector fund or any other sector fund.'
The Jammu and Kashmir Police's Counter Intelligence Wing (CIK) has dismantled a sophisticated international cyber fraud racket, arresting seven individuals in Srinagar. The operation targeted victims in the USA, UK, and Canada, using advanced techniques to steal funds through deceptive online schemes.
Banks are depending more heavily on the market for certificates of deposit (CDs), whose worth climbed to a record Rs 5.75 trillion in the fortnight to January 15, owing to deposit tightness in the system.
As the government moves to revamp India's securities legislation, unifying three different laws into the Securities Markets Code (SMC), regulatory experts and market insiders have raised concerns on potential funding challenges for the stock market regulator.
The government and Life Insurance Corporation's (LIC's) strategic stake sale in IDBI Bank is expected to move to the second stage by the first quarter of FY24, said two people in the know. They added that considering the progress of the ongoing deal, financial bids are expected to come in by June this year. The proposed IDBI Bank stake sale is divided into two sequential stages.
In an event-heavy week ahead, stock markets are expected to track Q3 corporate earnings from several blue-chip firms, including TCS and Infosys, while inflation data and global trends would also dictate investors' sentiment, analysts said.
State Bank of India has embarked on a drive to cut the Know Your Customer (KYC) process to a single one across its branches, a top official said on Tuesday.
The CBI has conducted searches across multiple states in connection with a large-scale online financial fraud involving the overseas fintech platform 'Pyypl'.
Jio Financial Services, a unit of Mukesh Ambani's Reliance Industries (RIL), got valued at Rs 1.66 trillion ($20 billion) following an hour-long special trading session conducted by stock exchanges on Thursday. Shares of RIL's unit got priced at Rs 261.85 apiece - higher than analysts' expectations of Rs 134-224 per share. The price was arrived at after calculating the difference between RIL's Wednesday (July 19) close of Rs 2,840 and Rs 2,580, the price discovered during the first-of-its-kind pre-trade session.
Ask rediffGURU and PF expert Nitin Narkhede your mutual fund and personal finance-related questions.
The ideal time to invest in sector funds, is during a downturn so that investors can capitalise on a turnaround in 1.5 to 2 years.
Kanpur police have uncovered a GST fraud racket where suspects used unsuspecting individuals' documents to create fake firms and route transactions worth nearly Rs 250 crore.
The recent policies that have been announced by the Reserve Bank of India (RBI) will allow banks to fully use its capital, funding profile to keep business at an equilibrium level, which otherwise was getting skewed towards retail, said K V Kamath, chairman, Jio Financial Services.
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