The Central Bureau of Investigation (CBI) conducted searches at seven premises linked to Reliance Communications Ltd, an Anil Dhirubhai Ambani Group company, in connection with a fraud case involving thousands of crores of rupees.
Former Reliance Communications Group managing director Amitabh Jhunjhunwala has been lodged in Mumbai's Arthur Road Jail after being arrested by the CBI in connection with a multi-crore bank loan fraud case.
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.
The CBI has registered a new case against Anil Ambani and Reliance Communications Ltd for allegedly causing a loss of Rs 3,750 crore to the Life Insurance Corporation (LIC) of India.
The CBI has filed a charge sheet in a Rs 3,750-crore cheating case against Reliance Communications Ltd. (RCom), former executives of the Reliance ADA Group, and a former Chief Investment Officer of Life Insurance Corporation of India (LIC). The case involves LIC subscribing to NCDs worth Rs 1,500 crore from RCom in 2012 based on alleged misrepresentations, with funds subsequently diverted to ADA group companies, causing wrongful loss to LIC.
Reliance Industries Ltd (RIL) has publicly welcomed competition from Elon Musk's Starlink in the satellite communications sector, asserting that all players, including Jio, must abide by Indian laws and policies.
Elon Musk has escalated his criticism of Indian industrialist Mukesh Ambani, sharing media reports that alleged Reliance-funded firms helped boost BJP campaigns on social media and made large political donations. This comes amidst a persistent delay in the launch of Starlink satellite broadband services in India, with Musk accusing Ambani of protecting a monopoly. The Indian government maintains its telecom framework is fair and non-discriminatory, while Reliance has not publicly responded to Musk's allegations.
Jio Platforms Ltd, the digital and telecom arm of Reliance Industries, is poised to launch India's largest-ever initial public offering (IPO) at Rs 30,213 crore, surpassing Hyundai Motor India's Rs 27,870-crore offering.
Telegram CEO Pavel Durov has accused Reliance Group, which has a partial Meta stake, of lobbying for a ban on Telegram in India and sabotaging its access for users outside India through BGP hijacking. A senior telecom industry source dismissed these claims as 'fake news,' stating Durov confused Reliance Communications with Reliance Industries Ltd. The allegations come as the Indian government has ordered Google and Apple to delist Telegram temporarily and disable its message-editing feature in India due to concerns over paper leaks in the NEET-UG examination.
A Mumbai court has granted the CBI permission to arrest Amitabh Jhunjhunwala, a former senior executive at Reliance Group, in connection with a case involving the alleged misuse of bank loans. Jhunjhunwala was already in judicial custody in Delhi for a related money laundering case.
Swan is one of the firms which got a licence at bargain-basement prices thanks to telecom minister A Raja.
Elon Musk, CEO of SpaceX, stated that Starlink's services in India must be affordable for widespread adoption and that competition would benefit consumers, despite potentially reducing Reliance Jio's profits. He criticised Reliance Jio as a 'de facto monopoly' in India, alleging that certain business conglomerates were blocking Starlink's entry.
The CBI has registered a case against Reliance Capital Limited (RCAP), its former chairman Anil Ambani, and others for an alleged Rs 2,684.57-crore fraud. The case stems from a complaint by the Life Insurance Corporation of India (LIC) regarding investments in RCAP's non-convertible debentures, alleging criminal conspiracy, misrepresentation, and fraudulent diversion of funds causing significant loss to LIC.
The CBI has registered a case against Reliance Capital Limited (RCAP), its former chairman Anil Ambani, and others for an alleged Rs 2,684.57-crore fraud involving investments made by the Life Insurance Corporation of India (LIC). Anil Ambani has denied any wrongdoing. The LIC alleges criminal conspiracy, misrepresentation, and fraudulent diversion of funds.
The Enforcement Directorate has attached fresh assets worth Rs 3,034 crore as part of its ongoing money laundering probe against the Reliance Anil Ambani Group (RAAG) companies.
Eutelsat OneWeb, a satellite communications company, is awaiting approvals from the Indian central government to launch its services, as confirmed by Sunil Mittal, chairman of Bharti Enterprises, the largest shareholder in the Eutelsat group.
Amitabh Jhunjhunwala, former group managing director of Anil Ambani-led Reliance Communications, has been remanded in 14-day judicial custody in an alleged bank loan fraud case. The CBI alleges misutilisation of loan funds, causing significant losses to a consortium of banks led by SBI.
Elon Musk has renewed his criticism of Mukesh Ambani regarding Starlink's entry into India, accusing Ambani's supporters of hypocrisy for simultaneously claiming Starlink can't compete with low prices and that it poses a strong competitive threat. Musk argues that competition would benefit Indian consumers and that Starlink would adjust pricing if too expensive. He also shared reports alleging Reliance-funded political donations. Communications Minister Jyotiraditya Scindia stated India does not permit monopolies and that multiple players, including Starlink, have received satcom licences.
Bharti Airtel Chairman Sunil Bharti Mittal stated that his satcom venture, Eutelsat OneWeb, is 'significantly ahead' of Elon Musk's Starlink in the Indian satcom queue, having applied for a licence five years ago, and expressed a desire to receive regulatory approval before Starlink.
Experts argue that the cost savings both in terms of capex as well as operating costs can be substantial in the next one to two years.
The National Company Law Tribunal (NCLT) in Mumbai has admitted a petition filed by State Bank of India (SBI) seeking to initiate personal insolvency proceedings against industrialist Anil Ambani. This action is related to Ambani's alleged personal guarantees for loans extended to Reliance Communications (RCom), from which SBI is attempting to recover over 1,200 crore.
Elon Musk questioned if Mukesh Ambani is India's "real boss" amidst Starlink's licensing issues, drawing a cryptic response from Rahul Gandhi. The Indian government clarified that security assessments are pending for all satcom licensees, not just Starlink, and the delay is due to the Ministry of Home Affairs.
Indian equity benchmark indices Sensex and Nifty experienced a significant tumble in early trade, primarily driven by elevated crude oil prices due to ongoing West Asia uncertainty and substantial foreign fund outflows. Track Sensex, Nifty on September 29.
Jio Platforms Limited (JPL) believes satellite broadband services are unlikely to achieve significant scale or compete effectively on price in India's highly connected and affordable market, despite developing its own satellite constellation solutions and flagging it as a potential disruptor.
Prime Minister Narendra Modi has urged for a global framework to combat cross-border cyber frauds and deepfakes, highlighting the need for governments, tech companies, telecom operators, and financial institutions to collaborate. Speaking at the India Mobile Congress 2026, Modi stressed that technology thrives on trust and that India is ready to share its expertise in tackling cyber threats. He also noted the rapid expansion of 5G and the success of digital governance initiatives like Direct Benefit Transfer.
The company wants to woo post-paid customers and rent out its assets to cut debt.
Apple has officially launched its Apple Pay service in India, initially partnering with Axis Bank for Visa and Mastercard credit card users. The service allows secure, cashless transactions via iPhone, iPad, and Apple Watch using NFC technology, without requiring PINs or OTPs. This move is set to intensify competition in India's digital payments market, currently dominated by UPI and local players, with Apple planning to onboard more banks and expand merchant networks.
The Enforcement Directorate (ED) has attached fresh assets worth over 581 crore belonging to Reliance Group companies, RHFL and RCFL, as part of its ongoing money laundering investigation.
The Indian Air Force (IAF) demonstrated 'Vayu UTtaM', an indigenously developed multi-mode Unmanned Traffic Management (UTM) system, at 'Dronathon 2026' in Pokhran. This ground-based system is designed to manage drone operations in congested airspace and identify rogue drones, with applications extending to critical infrastructure, civil aviation, and public safety. The event also saw the release of the 'IAF UAS Roadmap' to guide indigenous innovation in unmanned systems.
The Congress party has criticised the government's recent notification regarding UPI transactions, alleging it paves the way for users to be charged fees, particularly for transactions above Rs 2,000. The party claims the government lacks transparency and questions if the move is to benefit American firms. The government, however, states that charges are necessary for the system's sustainability and infrastructure upgrades, with the Finance Minister clarifying that Merchant Discount Rate (MDR) applies to merchants, not customers.
Congress leader Rahul Gandhi has accused the Modi government of quietly paving the way for imposing fees on UPI transactions, alleging it's a surrender to American pressure. The government's recent notification exempts charges only up to Rs 2,000, sparking concerns that higher value transactions and eventually all UPI payments could incur fees. Finance Minister Nirmala Sitharaman, however, clarified that Merchant Discount Rate (MDR) applies to merchants, not customers, and supports digital infrastructure.
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.
Instant messaging platform Telegram has been restored in India after a week-long government ban, imposed due to its alleged role in circulating leaked NEET examination papers, expired. The Delhi High Court had upheld the ban as lawful and necessary.
Newly listed companies Vedanta Aluminium Metal, SBI Funds Management and Manipal Health Enterprises have entered the Rs 1 trillion mcap list since March 2026.
Reports have surfaced in Israeli media claiming that Iranian supreme leader Mojtaba Khamenei is in critical condition and has been rushed to a hospital.
Reliance Group chairman Anil Ambani did not appear before the Enforcement Directorate for questioning in a money laundering case linked to an alleged bank fraud. The ED is investigating loan fraud allegations against multiple Anil Ambani group companies.
Amitabh Jhunjhunwala, former Managing Director of the Anil Dhirubhai Ambani Group, has been remanded in CBI custody in an alleged bank fraud case involving Reliance Commercial Finance Limited (RCFL) worth Rs 9,280 crore. The CBI alleges misappropriation of loan funds and violations of RBI guidelines, while Jhunjhunwala's lawyers claim he is a scapegoat.
Prime Minister Narendra Modi has introduced a 'Sapta Dhara' (seven-stream) reform framework, aiming to propel India into a developed nation by 2047. This comprehensive plan focuses on key sectors including manufacturing, agro-food processing, technology, logistics, defence, green and blue economy, and soft power, leveraging the nation's youth potential.
Indian stock markets this week will be primarily influenced by a series of corporate Q1 earnings, the evolving geopolitical situation in West Asia, and fluctuations in crude oil prices, according to market analysts.
'Making a film -- good or bad -- is extremely hard work, involving hundreds of people and at least two years from idea to release. When the audience rejects it, it is known to push makers into depression. And then there is the danger of theatres stopping the screenings after week one if footfalls don't improve.'
