The World Bank has affirmed India's strong position to withstand the current global energy shock, citing high foreign exchange reserves, fiscal space, and low inflation as key buffers supporting continued growth despite international headwinds.
'During the bank's board meeting, many directors asked him if there is a governance issue but he said there is none.'
The Supreme Court has stated it will not make structural changes to religious practices at the Bankey Bihari temple in Vrindavan, hearing a petition challenging administrative decisions affecting traditions.
Delhi Police have dismantled a cyber fraud syndicate involved in providing mule bank accounts, arresting 14 individuals across multiple locations. The syndicate allegedly supplied bank accounts, SIM cards, and ATM cards to fraudsters running fake investment schemes and online job scams, laundering the proceeds through these accounts.
Eight of India's top-10 most valued firms saw their combined market valuation increase by Rs 1,87,497.45 crore last week, with Bharti Airtel emerging as the largest gainer, reflecting a positive trend in the equities market.
The CBI conducted searches at 77 locations across eight states, registering 22 new cases related to a nexus between builders and financial institutions, allegedly defrauding homebuyers.
Mumbai Police have registered an FIR against former Yes Bank MD and CEO Rana Kapoor and others for alleged illegal transfer of mortgaged property worth Rs 1,000 crore.
The Reserve Bank of India (RBI) has granted approval for UAE-based Emirates NBD (ENBD) PJSC to acquire up to a 74 per cent stake in RBL Bank for $3 billion, marking the largest foreign investment ever in a domestic Indian bank.
World Bank South Asia Chief Economist Franziska Ohnsorge advocates for the removal of obstacles hindering the adoption of artificial intelligence to foster business growth and job creation, particularly in South Asia.
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.
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.
Police in Jamtara, Jharkhand, have arrested three individuals for allegedly defrauding people by obtaining bank account details under the guise of supplying LPG cylinders.
Indian benchmark indices, Sensex and Nifty, closed almost unchanged in a volatile session as investors reacted cautiously to mounting geopolitical headwinds and a significant jump in crude oil prices, with Brent crude surging to USD 94.68 per barrel.
Indian stock markets experienced a significant sell-off, with the Sensex tumbling over 1,300 points, driven by escalating crude oil prices due to US-Iran tensions and Prime Minister Narendra Modi's call for austerity measures, which amplified investor concerns about India's economic outlook.
'My resignation is a larger governance and governance-plus kind of an issue, which the board of directors of the bank should be introspecting.'
A State Bank of India report indicates a sharp increase in precautionary cash holding in India, with the gap between per capita currency in circulation and ATM withdrawals widening significantly, driven by global uncertainties despite record digital payment transactions.
'Statutory power must be exercised in a manner that is fair, proportionate, and not excessive.' 'The authority must demonstrate a rational nexus between the property frozen and the alleged offence.'
HDFC Bank reports a 12% credit growth for the March quarter, alongside the unexpected resignation of its chairman, Atanu Chakraborty, due to ethical concerns.
Delhi Police's Economic Offences Wing has arrested two individuals, including a chartered accountant, in connection with a GST and VAT fraud involving the misuse of business credentials and dummy firms.
Police in Gautam Buddh Nagar claim an accused linked to violent labour protests in Noida received over Rs 1 crore from foreign countries in their personal bank account.
The Maharashtra government has suspended a deputy collector for his alleged links with self-styled godman Ashok Kharat, in the first such crackdown on officials after the case rocked the state earlier this year.
HDFC Bank is engaging external legal firms, both domestic and international, to investigate the circumstances surrounding former part-time chairman Atanu Chakraborty's resignation.
The Uttar Pradesh government announced it has paid a record Rs 3,21,963 crore to sugarcane growers since 2017, emphasising on-time payments and direct transfers to farmers' accounts. The government highlighted initiatives like farm loan waivers and the 'Smart Ganna Kisan' system for online sugarcane management.
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.
Indian benchmark indices Sensex and Nifty experienced declines due to a sharp rally in crude oil prices, continuous foreign fund outflows, and geopolitical uncertainties. Regulatory developments in the banking sector, particularly the implementation of the Expected Credit Loss (ECL) framework, also contributed to the selling pressure.
A Delhi court sentenced Madhya Pradesh Congress MLA Rajendra Bharti and a former bank employee to three years' imprisonment each in a cheating case involving the forging of bank records to obtain illegal interest payments between 1998 and 2011.
Ludhiana Police have busted a large cyber fraud racket, arresting 132 people involved in running fake call centres that targeted foreign nationals through various online scams.
Delhi Police have arrested five individuals for allegedly supplying mule bank accounts to cyber fraud syndicates with links to Dubai. The arrests follow a complaint regarding a stock market investment scam where the victim was duped of over Rs 12 lakh.
The Delhi Police's Economic Offences Wing (EOW) has dismantled a GST fraud cartel, arresting six individuals involved in swindling Rs 128 crore through shell companies and fake invoicing.
Gujarat police have arrested 10 individuals in connection with a cyber fraud racket involving over Rs 53 crore and spanning at least 20 states. The accused lured individuals into renting out their bank accounts, which were then used to receive and transfer funds obtained through various fraudulent schemes.
Indian investors have seen their wealth erode by a staggering Rs 16.77 lakh crore over four trading sessions, as the markets faced deep losses driven by elevated crude oil prices, geopolitical tensions, persistent foreign fund outflows, and a record-low rupee.
Indian equity benchmark indices, Sensex and Nifty, tumbled nearly 2 per cent for the fourth consecutive session, driven by elevated crude oil prices, escalating US-Iran tensions, unabated foreign fund outflows, and a depreciating rupee.
Indian equity benchmark indices, Sensex and Nifty, tumbled nearly 2 per cent for the fourth consecutive session, driven by elevated crude oil prices, escalating US-Iran tensions, unabated foreign fund outflows, and a depreciating rupee.
Atanu Chakraborty has resigned as chairman of HDFC Bank, citing ethical concerns, marking an unusual departure and prompting the appointment of an interim chairman.
The Maharashtra government has suspended Deputy Collector Abhijit Bhande-Patil for his alleged links with self-styled godman Ashok Kharat, who was arrested in March on rape and financial irregularity charges.
Delhi Police have arrested two individuals from Jharkhand for allegedly defrauding a 65-year-old man of over Rs 10 lakh through a cyber fraud involving APK files.
Telangana police have dismantled a large network operating illegal mule bank accounts used for fraudulent financial transactions, arresting 13 suspects and uncovering transactions worth approximately Rs 138 crore.
The central bank is yet to consider actions such as a rate hike or mobilising dollar inflows from non-resident Indians to boost forex reserves as it cannot afford to continue with them for long when the rupee's internationalisation tops its agenda, explains Tamal Bandyopadhyay.
BJD president Naveen Patnaik has requested Union Finance Minister Nirmala Sitharaman's intervention in a case where an Odisha tribal man was forced to exhume his sister's skeleton to prove her death to a rural bank. Patnaik seeks accountability for the incident, which has sparked public outrage.
Indian benchmark indices, Sensex and Nifty, opened lower on Tuesday, driven by a surge in global crude oil prices and continued outflows by Foreign Institutional Investors (FIIs), reflecting fragile market sentiment influenced by external factors.
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