'In plain simple English, these practices amount to a looting of our country's future by some in the business community, in cahoots with some lenders,' says RBI Governor Dr Urjit R Patel.
An Indian-origin couple in the UK has been sentenced for breaching a disqualification order, operating companies despite a ban imposed after tax fraud claims.
The UK High Court has rejected Nirav Modi's attempt to reopen his extradition case, citing the Indian government's comprehensive assurances against torture as sufficient to allow his transfer to India.
Over the past three years, the appointments of 20 candidates selected through the Institute of Banking Personnel Selection were cancelled or offers were withdrawn due to poor credit history.
The Maharashtra assembly has passed the Freedom of Religion Bill 2026, introducing strict measures to prevent religious conversions through coercion, fraud, or marriage, sparking debate over constitutional rights and religious freedom.
The West Bengal government has filed FIRs against five state government employees for alleged lapses in electoral roll revisions, following an Election Commission ultimatum. The action comes after the EC directed the state to initiate criminal cases against the accused for adding fictitious names to voter lists.
The Congress party in Maharashtra has accused senior police officials, including an IPS officer, of involvement in a multi-crore bogus call centre racket and is demanding a high-level investigation.
State-owned banks have received guidance from the government to close Jan Dhan accounts whose beneficiaries are unwilling to keep them active, amid rising instances of such accounts being misused by fraudsters as mule accounts to defraud people, people aware of the development said.
Cyber threats aren't always invisible -- sometimes they're right beside you.
Mint Road's proposals on banks' M&A funding are cautious even as entrants root for more elbow room, and weigh business models.
'Women in crime can turn on and off emotions like a tap.' 'Something that comes in the way of their goals can be eliminated without a second thought.'
To educate customers on the modus operandi of financial fraudsters and share inputs on safe banking habits, banks are now coming up with awareness campaigns aimed at preventing customers from falling into the trap of fraudsters.
Link your UPI app to a separate bank account or wallet that has only a limited sum.
Here are five things that fraudsters are likely to say or do that should set the alarm bells ringing in your head.
This case is the largest investigated by the Pandemic Response Accountability Committee Fraud Task Force to date, US Attorney for the Northern District of Texas Leigha Simonton said in a press release.
UPI has catapulted India into the forefront on the global digital payments landscape. Working hand in hand, the AePS payments system is making life easy for rural folks, notes Tamal Bandyopadhyay.
'Large firms and their interests can dominate the narrative, even as smaller stakeholders and retail investors struggle to be heard.' 'Regulators therefore require deep subject-matter expertise to assess representations, recognise underlying incentives, incorporate the perspectives of less-visible stakeholders, and guard against bias or capture,' notes Ananth Narayan.
Investors and startup executives are calling for extending the period for an entity to be recognised as a startup from 10 to 15 years for deep-tech companies.
The average Indian fraudster isn't an outsider exploiting security loopholes. He's usually a man between 26 and 45 years of age, working in operations or procurement, with more than six years at the organisation.
Avoid donating without checking the receipt proforma showing the political party's ECI registration number and PAN.
In 2023-2024, 95 scheduled commercial banks received over 10 million complaints from their customers. The process of KYC at many banks has become 'HYC' -- harass your customer, points out Tamal Bandyopadhyay.
The reduction in goods & services tax (GST) on individual life and health insurance premiums has been called a "landmark step" for making insurance affordable and inclusive. In a panel discussion at the Business Standard BFSI Insight Summit 2025, Anup Bagchi, managing director (MD) & chief executive officer (CEO) of ICICI Prudential Life Insurance; Mahesh Balasubramanian, MD & CEO of Kotak Life Insurance; Tarun Chugh, MD & CEO of Bajaj Life Insurance; and Ratnakar Patnaik, MD of Life Insurance Corporation of India (LIC), listed what else the industry needs to reach more people.
'In this age of competition, we will not survive long if we do not provide quality service to our consumers'
'Instead of the government and telecom operators solving the mess of their own creation, they're telling us we need to give access to our phones perpetually.'
'Big Week For #USIndia Law Enforcement Collaboration'
'Self-declaration from the customer in case of no change in KYC information or change only in the address details may be obtained.'
The opposition party questioned why the government took five years after the liquidation proceedings of ABG Shipyard to lodge an FIR in connection with the alleged duping of 28 banks.
The Indian government has introduced a bill in the Lok Sabha to ban online games played with money, aiming to curb addiction, money laundering, and financial fraud. The bill also targets advertisements and financial transactions related to such games.
Keeping surplus money in a bank account has become perilous, alerts Harsh Roongta.
'Let them put their house in order first.' 'Let the RBI first rectify themselves.'
The number of cyberfraud cases has skyrocketed from 2,677 in 1999-2000 to 29,082 in FY24 -- more than a 10-fold increase. The RBI pegs digital payment frauds at Rs 1,457 crore in FY24, up more than five times in a year. It's not just the number of frauds. What's alarming is the growing sophistication of the fraudsters, exposing the vulnerabilities within the financial system, observes Tamal Bandyopadhyay.
Tax evaders, BEWARE! The Income Tax department is using AI data analytics to bust fake deductions, flag HRA fraud, and trace digital footprints.
Believe it or not, the regulator is even stretching its arm to identify stressed borrowers and gauge the 'distance to default' as a measure of a particular bank's fragility, reveals Tamal Bandyopadhyay.
A strong demand was made in the Lok Sabha to eliminate online betting and gambling applications. YSRCP member Maddila Gurumoorthy urged the government to set up a dedicated task force to take action against betting and gambling apps. He also asked the government to draft regulations for such applications and launch awareness campaigns about the dangers of online betting. Other issues raised included deposit insurance coverage for bank depositors, representation of Scheduled Castes in the Kerala government, challenges faced by nurses, and the need for paramilitary forces in Jharkhand during upcoming Hindu festivals.
Since its launch in April, helpline 155260 has been able to prevent more than Rs 18.5 million of defrauded money from reaching the hands of fraudsters.
It is up to the bank management to decide which application gets to interact with the CBS
If you have questions related to online insurance frauds, then Piyush Ranjan, chief technology officer, Coverfox Insurance, will answer your queries.
Dr Pananjay Tiwari, founder and director of Impel Overseas Education, highlights what international students should keep in mind in order to be safe in a new country and avoid being deported.
Red Square and VDNKh easily rank among the most striking places I've visited -- both for their historical significance and architectural splendour.
My admiration for Russian culture, vision and ambition grew with every step as I clocked the miles, Nitin Sathe tells us after a visit to Moscow and St Petersburg.
What is digital house arrest? It is a tactic cybercriminals use to confine victims to their homes and scam them, explains Tamal Bandyopadhyay.
