The chairman and secretary of the Central Board of Secondary Education (CBSE) have been removed from their positions following allegations of irregularities in the digital evaluation system for the class 12 examination process.
Despite the Centre's GST 2.0 guidelines aiming to facilitate provisional refunds within seven days for low-risk cases, many large taxpayers are still encountering significant delays in obtaining Goods and Services Tax (GST) refunds under the inverted duty structure (IDS), with experts citing inconsistent state-level scrutiny and subjective interpretations.
Cyber criminals impersonated a company owner to deceive an accountant into transferring a large sum of money.
Telangana CID arrests 11 individuals, including an Afghan national, for allegedly operating online betting across multiple states through the Dafabet platform. The investigation revealed a complex network of mule accounts and a coordinated multi-state criminal operation.
The Reserve Bank of India (RBI) reported a significant 52 per cent year-on-year increase in gains from foreign exchange transactions, reaching 1.69 trillion in FY26. This surge occurred despite the central bank selling a gross $195 billion in the spot market to manage rupee volatility, which saw a 9.85 per cent depreciation.
West Bengal Chief Minister Suvendu Adhikari has ordered a special investigation into alleged fake beneficiaries of the Lakshmir Bhandar scheme, a women's cash transfer programme from the previous government, also initiating a money laundering probe.
The highest number of frauds was reported under the card, Internet, and digital payments categories in FY24 and FY25. 'Advances' accounted for the largest share (85.5 per cent) in FY26.
The Central Bureau of Investigation (CBI) is set to take over the investigation into the embezzlement of 590 crore from Haryana government accounts held with IDFC First Bank in Chandigarh. The Haryana government decided to hand over the probe to the central agency last month following allegations that funds were diverted for personal use through shell companies and real estate investments.
Cyber criminals impersonated a company owner to defraud an accountant of a substantial sum in Hyderabad.
NCP (SP) MLA Rohit Pawar has alleged a link between a godman and the fatal plane crash involving his uncle, Ajit Pawar, and has demanded a CID interrogation.
West Bengal Chief Minister Suvendu Adhikari announced that the first phase of fund transfers under the 'Annapurna Yojana' will begin on June 3, with eligible women beneficiaries receiving Rs 3,000 directly in their bank accounts.
Odisha Chief Minister Mohan Charan Majhi dismissed an officer from government service due to alleged corruption, specifically irregularities in land-related matters during his tenure as additional tahsildar in Bhubaneswar.
A local court in Mumbai acquitted a 23-year-old Jharkhand resident in a cyber fraud case, citing a lack of evidence proving a criminal conspiracy. The court ruled that merely crediting a defrauded amount into a person's bank account does not constitute a criminal offence without proof of involvement in the conspiracy.
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.
Shares of gems and jewellery firm Rajesh Exports Ltd dropped 5 per cent to hit the lower circuit limit after capital markets regulator Sebi barred its promoter and CEO Rajesh Mehta from dealing in the company's securities, alleging large-scale misrepresentation of financial statements and diversion of funds.
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 Supreme Court has emphasised the need for accountability regarding the NEET paper leak issue, acknowledging the trauma experienced by students and their families. The court is hearing pleas related to the matter and has asked the Centre to file an affidavit.
Goa Tourism Minister Rohan Khaunte has called for police action and accountability after videos showing alleged drug dealing and solicitation at Calangute beach went viral. He emphasised the need to protect Goa's image as a safe and preferred tourist destination.
The Nadia district administration has launched an investigation after 173 male names were detected in the beneficiary list of the 'Lakshmir Bhandar' scheme meant for women in Dhubulia area.
Delhi Police have arrested a 26-year-old man for allegedly siphoning off Rs 1.48 lakh from his paralysed brother-in-law's bank accounts after gaining the family's trust as his caretaker.
A 70-year-old man from Thane was allegedly duped of Rs 40.5 lakh by cyber fraudsters posing as police officers who threatened him with arrest in a fake terror funding case.
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.
rediffGURU T S Khurana answers readers' personal income tax queries
Loans to micro, small and medium enterprises (MSMEs) in India saw moderated growth in April 2026, with early signs of stress emerging among micro borrowers and manufacturers, according to a report by credit bureau CRIF High Mark. The slowdown is attributed to potential impacts of global uncertainty.
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.
Police in Gadag, Karnataka, have arrested five men for allegedly luring students with false promises of scholarships to open bank accounts for illegal transactions.
"Taxpayers with income from shares, mutual funds, crypto, ESOPs, or derivatives often incorrectly use ITR-1 instead of ITR-2 or ITR-3."
The campaign, launched under the leadership of IYC in-charge Manish Sharma and the wing's president Uday Bhanu Chib, seeks to reclaim the term 'cockroaches', which the organisation said had been used to mock protesting youth.
Police have registered a case against three persons for allegedly cheating a tribal farmer of Rs 50.27 lakh by fraudulently withdrawing part of his land compensation for the Vadhvan Port project in Maharashtra's Palghar district, officials said on Thursday.
Gujarat cyber police have arrested 13 individuals allegedly involved in a network responsible for 982 cyber crimes across India, resulting in losses of over Rs 631 crore.
Following a building collapse in Delhi's Saket area that resulted in six fatalities, Chief Minister Rekha Gupta has pledged stringent measures against unauthorised constructions and the officials responsible. She has ordered surveys of unsafe buildings and assured support for the affected families.
Jammu and Kashmir Police have registered 176 cases and arrested 202 individuals in the first 50 days of their anti-drug trafficking campaign. The operation has resulted in significant seizures of heroin, poppy straw, ganja, and opium, along with the freezing of assets and demolition of properties linked to drug-related activities.
A 44-year-old man from Thane has been booked for allegedly defrauding seven investors of Rs 1.61 crore by promising high returns on cryptocurrency investments.
A man named Azmat Abad was arrested in Saharanpur, Uttar Pradesh, for allegedly posting an objectionable comment on a social media post depicting Lord Shiva. Police stated that the comment had the potential to disrupt communal harmony and create tension in the area. He was apprehended during a crime-curbing drive and is being produced before a competent court.
State Bank of India Chairman C S Setty has expressed support for a 'pause' in policy rates by the Reserve Bank of India's monetary policy committee, believing it will help stabilise conditions and support economic growth. He also urged investors to look beyond short-term equity market movements and focus on India's structural transformation, driven by reforms and digital infrastructure.
A 41-year-old man in Thane has alleged that four individuals kidnapped him, assaulted him, and forced him to transfer Rs 47.25 lakh, blaming him for stock market losses incurred by their clients. The accused are middlemen who invested through the complainant.
Abhijeet Dipke, founder of the Cockroach Janta Party, expresses concerns about potential arrest upon his return to India, but remains committed to protesting against the Union Education Minister over alleged shortcomings in the education system.
A court in Bhopal has remanded Samarth Singh, husband of late model Twisha Sharma, and his mother Giribala Singh, in judicial custody for 14 days after completion of their CBI remand in connection with dowry harassment allegations.
Most actively-managed equity mutual fund schemes outperformed their benchmarks despite volatility across domestic equity markets during the past year.
Odisha Police's Economic Offences Wing (EOW) has arrested two more individuals in connection with a Rs 9.6 crore bank fraud case, bringing the total number of arrests to six. The accused, Surjit Roy and Sameer Srivastav, were apprehended in Raipur, Chhattisgarh, for allegedly withdrawing funds from the District Mineral Foundation (DMF) trust using forged cheques.
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