A woman constable in Mumbai Police was allegedly defrauded of Rs 12.46 lakh after her mobile phone was hacked via an APK file, leading to a personal loan being fraudulently obtained in her name.
A builder and two others were allegedly duped of 18.19 lakh by two individuals in Thane, Maharashtra, who promised to secure business loans for them.
Rapid growth in personal gold loans has raised concerns over borrower leverage, large-ticket exposure and volatility in gold prices, points out Swaminathan J, Deputy Governor, Reserve Bank of India.
Ask rediffGURU and PF, MF and insurance expert Purshotam Lal your mutual fund, insurance and personal finance-related questions.
In addition to interest rates, review the fine print for penalties and repayment terms, and select a reputable lender to avoid harsh recovery practices.
The Supreme Court has ruled that borrowers are not entitled to a personal hearing before banks classify their loan accounts as "fraud" under RBI directions, clarifying that a written response to a show-cause notice and access to the forensic audit report (with redactions) are sufficient for natural justice.
A man in Mumbai has been booked for allegedly cheating a woman of 7 crore by making false promises of financial assistance and business loans after her husband's death. The accused, Bharat Singh alias Johnny, allegedly obtained the woman's GST login credentials and carried out fake transactions in her company's name.
The Allahabad High Court dismissed a petition by an advocate seeking quick disposal of a maintenance case against his wife, calling it 'vexatious' and imposed a significant fine for concealing facts and misusing his wife's funds.
The Reserve Bank on Thursday tightened norms for consumer credit as it asked banks and NBFCs to assign a higher risk weight for unsecured personal loans, a move aimed at making the lenders more cautious on such advances. The risk weight on unsecured consumer loans has been raised by 25 percentage points. The new regulations, however, will not be applicable on housing loans, education loans, vehicle loans and loans secured by gold and gold jewellery, the Reserve Bank said in a circular.
Personal loans offer more flexibility in usage but may come with higher interest rates and shorter repayment terms. It is important for individuals to evaluate their needs, financial situation, and future goals before deciding between the two loan options.
A 30-year-old man in Aligarh was allegedly stabbed to death by his relatives after he asked them to return Rs 20,000 that he had loaned them.
It is important to understand how your salary influences your loan amount and implementing these valuable strategies can significantly impact your eligibility for the personal loan you desire, says Kamaljeet Rastogi.
A Delhi court has remanded former senior executives of Reliance Anil Ambani Group (RAAG) to five days of ED custody in connection with an alleged bank loan fraud-linked money laundering case.
Shares of One97 Communications, which operates the Paytm brand, experienced a significant jump after the company reported a consolidated profit for the January-March quarter.
Ask rediffGURU and PF expert Nitin Narkhede your mutual fund and personal finance-related questions.
The management of Kannur Dental College has refuted allegations of caste discrimination in connection with the death of a BDS student, attributing the incident to issues related to a loan obtained through a mobile app.
Fintech giant Paytm reports a consolidated profit of Rs 183 crore in Q4 FY26, marking a significant turnaround driven by its core payments business, growth in loans, and consumer-side profitability. The company is also prioritising investments in AI and has ruled out applying for an NBFC licence.
A special CBI court in Ahmedabad convicted eight individuals, including three retired Punjab National Bank (PNB) officials, in a 2016 loan fraud case that resulted in a loss of Rs 1.57 crore to the bank.
Three individuals have been arrested in Vikarabad district, Telangana, for allegedly murdering two elderly women from whom they had borrowed money. Investigations revealed the accused were planning to kill six other women to whom they owed money.
'We strongly believe that anyone with capability and a strong work ethic should have a chance at the top job.'
A court in Thane acquitted a suspended Income Tax Officer and his wife in a 2007 disproportionate assets case, criticising the CBI for a flawed investigation.
A 40-year-old woman has been arrested in Delhi for allegedly defrauding a resident of Rs 20,000 under the guise of arranging a loan through social media. The accused, Satvinder Kaur, was apprehended after a technical investigation revealed her involvement in the scam.
The Enforcement Directorate has filed a chargesheet against former Reliance Communications president Punit Garg and another individual in connection with a money laundering probe linked to an alleged Rs 40,000 crore bank loan fraud.
In the June quarter of FY24, 51 per cent of consumers who took small-ticket personal loans already had more than four credit products at the time of accessing yet another new loan, compared with just 17 per cent in the June quarter of FY20, points out Tamal Bandyopadhyay.
The growth in personal loans for fintech major Paytm may remain muted in the future and not replicate a three-digit year-on-year (Y-o-Y) growth that it recorded in the previous years, a person familiar with the matter said. Sources said the personal loans book may grow in the range of 30 to 40 per cent Y-o-Y on its current base. On a quarter-on-quarter (Q-o-Q) basis, the number of personal loans the Noida-based fintech company disbursed has dropped 20 per cent from 0.3 million in the first quarter of this financial year (Q1FY24) to 0.24 million in Q2FY24, according to regulatory filings.
A 43-year-old man has been arrested in Mumbai for allegedly stealing valuables worth Rs 30 lakh from his girlfriend's house after she refused to lend him money.
The CBI has filed a chargesheet against AVJ Developers, bank officials, and others for allegedly cheating financial institutions and homebuyers in Greater Noida.
A significant fraud involving the theft of gold ornaments and their replacement with fake jewellery has been discovered at a Canara Bank branch in Jalna district, Maharashtra. The alleged fraud amounts to Rs 7.31 crore.
rediffGURU Jinal Mehta answers readers' financial planning and health insurance queries
Deferred payment plans may come with a cost, which may not be immediately visible.
A Delhi court has sentenced three former officials of a company to four years in jail for defrauding the Industrial Development Bank of India (IDBI). The court emphasised that leniency would undermine the justice system and public confidence in the law.
Personal loans are the one of the most widely chosen options, in case you are in a spot and need some urgent cash. However, personal loans are tricky and you need to know as much as possible about their basics before applying for one. Let's start with some common questions.
Police in Belagavi, Karnataka, have arrested the operator of Shivam Associates, accused of running a multi-crore Ponzi scheme that promised high returns to depositors. The case has been registered under the BUDS Act and KPID Act, and will be transferred to the CID for further investigation.
'Healthcare costs in India rise by 10 to 14% annually, causing treatment costs to double roughly every 5-7 years.'
The banking sector could see better loan growth in the third quarter of financial year 2026 (Q3FY26) with improved net interest margins (NIMs), though the full impact of latest rate cuts will be largely felt in the fourth quarter. There may be lower slippage in unsecured loans and microfinance institutions (MFIs) along with steady recovery trends, which should lower credit cost.
Police in Karnataka have arrested an individual running a firm accused of operating a multi-crore deposit scam, attracting investments with promises of high returns. The case involves Shivaanand S Neelanavar and his firm Shivam Associates, also known as Acumen, who allegedly failed to return money to depositors after promising a 36 per cent annual return.
From the financial year 2025-2026, the government has introduced a new column in the tax return form for presumptive taxpayers, requiring them to disclose their year-end investments. This requirement was not present last year.
Youth League activists clashed with police during a protest march at a dental college in Kerala over the death of a Dalit student. The protest was triggered by allegations of harassment and demands for action against faculty members.
Two individuals have been booked for allegedly defrauding a young man of Rs 20 lakhs under the guise of arranging a student visa for overseas education, according to police reports.
The management of Kannur Dental College has refuted allegations of caste discrimination in connection with the death of a BDS student, suggesting a loan taken through a mobile app was a contributing factor. Police are investigating the case, which involves allegations of abetment of suicide and violations of the SC/ST Act.
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