A local court in Mumbai has accepted the police's closure report in the alleged Rs 25,000 crore scam at the Maharashtra State Cooperative Bank (MSCB), giving a clean chit to the late deputy chief minister Ajit Pawar and other accused.
A district consumer commission in Thiruvananthapuram has directed a cooperative bank to pay over Rs 14 lakh to a widow, Sheeba R, after it unlawfully denied her access to her deposited funds. The bank had cited an ongoing enquiry against its officials as a reason, but the commission ruled this was not a justifiable cause for withholding the money, especially given the woman's circumstances and need for funds for her mother's treatment.
A 76-year-old man, Abdul Samad, has been sentenced to 13 years in prison and fined Rs 16,000 for his involvement in a 1988 bank robbery at the Nallurnad Service Cooperative Bank in Wayanad, Kerala. This sentencing concludes a decades-long legal process for the six-member gang.
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.
Himachal Pradesh Chief Minister Sukhvinder Singh Sukhu congratulated the State Cooperative Bank on successfully migrating its core banking system to the 'Finacle 10.2.25' platform. This upgrade aims to provide faster, more transparent, and secure financial services, enhancing customer experience and operational efficiency across its 262 branches.
Tamil Nadu Chief Minister C Joseph Vijay announced a comprehensive waiver of cooperative farm loans, providing full relief for loans up to Rs 75,000 and partial waivers for higher amounts, benefiting over 1.38 lakh farmers with an additional financial commitment of Rs 953.06 crore.
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.
The Karnataka CID is investigating alleged irregularities in the KPSC veterinary officer recruitment exam, questioning 40 candidates and arresting suspended IAS officer Gyanendra Kumar Gangwar. The probe has revealed financial links, with significant deposits traced to accounts connected to candidates and middlemen, and has frozen substantial amounts. The High Court has ordered a fresh probe by an SIT.
The Central Bureau of Investigation has appealed to the Bombay High Court against the acquittal of former Maharashtra minister Padamsinh Patil and seven others in the 2006 murder case of Congress leader Pawanraje Nimbalkar. A sessions court had acquitted the accused on June 20, citing insufficient evidence, and Nimbalkar's wife also filed an appeal last month.
BRICS finance ministers and central bank governors have called for increased representation of emerging-market and developing economies in the IMF and World Bank, while also criticising unilateral tariffs and trade measures, as the expanded bloc aims to bolster financial cooperation amidst global fragmentation.
Jared Kushner, former US President Donald Trump's son-in-law, has vehemently denied "outrageous and categorically false" allegations in a new book, "Princes and Thieves," which claims he accessed secret bank accounts linked to UAE, Saudi, and Israeli funds. Kushner stated on X that the author provided no evidence and that such claims never surfaced during his extensive past investigations.
'Once you're wrestling with making a merger of that scale value-accretive, you're also under pressure to keep growing the balance sheet and chasing liabilities, and other things start to slip as a consequence.'
State Bank of India Chairman C S Setty stated that banks will take three to four months to deploy the significant funds mobilised through foreign currency non-resident (bank), or FCNR(B), deposits, which is unlikely to cause "abnormal lending". He also highlighted the need for agentic artificial intelligence (AI) costs to fall sharply for its widespread deployment in India, envisioning its role in transforming banking from fraud detection to personalised financial assistance.
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 Union Budget for 2026-27 is expected to sketch out a road map for trebling the cooperative sector's contribution to the Indian economy over the next decade, with the aim of bringing 500 million people within its ambit, in line with the objectives of the National Cooperative Policy, 2025.
An Italian woman, Paola Bertolini, travelled to Gurugram, India, to report a romance scam where a man allegedly swindled 1,000 euros from her. Dissatisfied with the response in Italy, she approached the Gurugram Cyber Police, who have registered a case and launched a search for the accused.
The Reserve Bank of India (RBI) has increased its GDP growth forecast for the current fiscal year (FY27) by 40 basis points to 7.1 per cent, acknowledging the resilience of domestic economic activity despite global headwinds and geopolitical tensions.
Police in Thane are investigating the source of a costly firearm used in the murder of Shiv Sena (UBT) functionary Pradeep Purnekar. Two key accused, Nikhil Yadav and Nitesh Pawar, have had their police custody extended until October 13 as authorities seek to identify the mastermind and procurement chain behind the September 29 killing.
The government on Wednesday said that all urban cooperative banks and multi-state cooperative banks will come under the supervision of the Reserve Bank of India, a development aimed at providing comfort to depositors and prevent repeat of PMC Bank like scams. The President of India will promulgate an ordinance to this effect, Information and Broadcasting Minister Prakash Javadekar told reporters after the meeting of the Union Cabinet.
Odisha Vigilance arrested a cooperative official, Patitapaban Majhi, for allegedly misappropriating over Rs 33 lakh in government funds during his tenure at the Garhsantri Service Co-operative Society.
'What is the need for collecting so much data unless they are going to be used for some other purpose?'
'Nana left Mumbai, its luxuries and all the roles he could have played, and moved to Pune, where he lived like a farmer.'
The United Arab Emirates (UAE) has expressed intent to invest an additional $25 billion in India, with an ultimate goal of reaching $100 billion in investments, Union Minister Piyush Goyal announced. This comes as both nations plan to enhance cooperation in shipping, ports, energy, and emerging technologies, against a backdrop of expanding bilateral trade.
The Reserve Bank of India (RBI) has maintained its benchmark policy rate at 5.25 per cent for the fourth consecutive meeting, prioritising clarity on inflation trends, particularly concerning energy costs and geopolitical developments.
India's proposal to link BRICS payment systems, including central-bank digital currencies (CBDCs), was notably absent from the grouping's New Delhi Declaration, despite being a key agenda item for India's chairmanship. This omission leaves the 16-year effort for trade in local currencies without a settled payment architecture, with the declaration only 'acknowledging' the work of the BRICS Payment Task Force.
The Samyukta Kisan Morcha (SKM) has ended its protest at the Chandigarh-Mohali border after receiving written assurances from the Punjab government. The government has pledged to convene a state Assembly session within a month to address issues concerning river waters, agriculture, and farmer loans, including resolutions against old water agreements and certain central bills.
Haryana Chief Minister Nayab Singh Saini met with a World Bank delegation to discuss advancing Artificial Intelligence, digital governance, and skill development in the state. The discussions focused on leveraging technology to enhance citizen services, with plans to showcase Haryana's AI Sandbox globally and develop a dedicated AI model for the state.
'Nearly two-thirds of Maharashtra has been drought-prone on and off, and climate change is making it worse.'
India has significantly increased its diplomatic engagements with Bhutan, Nepal, Bangladesh and the Maldives.
Chinese President Xi Jinping addressed the BRICS summit, urging the bloc to play a significant role in achieving peace and tranquillity in West Asia and the Gulf region. He highlighted BRICS' growth over two decades, its efforts in tackling global challenges, and its steadfastness in safeguarding the interests of the Global South. Xi called for opposing the Cold War mentality, strengthening multilateralism, and promoting cooperation in emerging domains like AI, as China prepares to chair the next summit.
'Every period of excessive optimism eventually gives way to a correction, while periods of extreme pessimism often create the best investment opportunities.'
A Mumbai court has denied bail to Hitesh Mehta, the former General Manager of New India Cooperative Bank, who is accused of orchestrating a Rs 122 crore scam. The court cited the severity of the economic offence and the complexity of the trial as reasons for the denial.
Iranian President Masoud Pezeshkian urged BRICS nations to expand trade in national currencies and build an inclusive global economic framework. He criticised "unilateral sanctions" by Western powers, stating they make emerging economies vulnerable and impact global food security. Pezeshkian emphasised BRICS' role in creating a balanced world order and highlighted Iran's geopolitical and energy capacities for cooperation.
Russian President Vladimir Putin has proposed a new investment platform, based on the New Development Bank (NDB), to fund projects in trade, infrastructure, logistics, and technology across BRICS nations, emphasising that the grouping's expanding economic cooperation is not 'against anyone' but aims to advance members' national interests.
For India, the goal is not simply to host another grand diplomatic gathering. It is to prove that a diverse coalition of emerging powers can still deliver.
From his first summit appearance in Durban in 2013 to the bloc's landmark expansion and renewed diplomacy in recent years, Xi Jinping's speeches and initiatives have reflected China's evolving priorities within BRICS.
The BRICS summit in New Delhi brings together leaders from major emerging economies to address global challenges like trade disputes, geopolitical upheavals, and the economic impact of conflicts in Ukraine and West Asia. India, as chair, aims to position BRICS as an economic growth engine, focusing on the Global South's food, energy, and supply chain security. The summit also highlights the grouping's expansion and its growing influence in global governance.
Recovery note by registrar not court order, says Bombay high court.
This article details the quarter-century journey of BRICS, from its inception as an economic acronym by a Goldman Sachs economist to its current status as an expanded eleven-member international bloc. It highlights its growth, key historical moments, and the significance of its upcoming summit, particularly with Iran's renewed importance in discussions.
The Calcutta High Court has extended interim protection for TMC MP Abhishek Banerjee until November 30, directing police not to take coercive steps in three criminal cases, stating that custodial interrogation is not necessary.
