IDFC First Bank reported a Rs 590 crore fraud involving its employees and others in accounts held by the Haryana government. The bank has informed regulators and filed a police complaint, initiating internal reviews and forensic audits.
Investments under the framework would remain voluntary for employees.
With more granular reporting and enhanced data matching, mismatches are likely to be identified more quickly.
Himachal Pradesh is experiencing a significant increase in cyber fraud cases, with hundreds of cases registered and substantial financial losses reported. The state government is taking measures to combat this rise, including establishing cyber help desks and providing specialised training to officers.
The videos were shown so that the woman could learn about Islam, she said in her statement, which is part of the chargesheet submitted in a Nashik court last week.
The Employees' Provident Fund Organisation (EPFO) will soon allow subscribers to withdraw their EPF and transfer it directly to their bank accounts through the UPI payment gateway. Testing of the facility has been completed, according to Labour Minister Mansukh Mandaviya.
Indore police busted a gang allegedly involved in online betting on Indian Premier League (IPL) matches, arresting eight individuals, including an IT professional and a bank official.
The NEET-UG re-exam was held at centres across the country and overseas on Sunday amid tight security arrangements for the smooth conduct of the examination.
Rising stressed debt and past exposures like Reliance Capital, Yes Bank push EPFO to frame exit rules for its portfolio.
Indian companies recorded their highest profit margins in 21 quarters during Q4FY26, reaching 11.3 per cent, primarily due to significant savings from lower employee costs and reduced interest payments, which offset rising raw material prices.
Delhi Police dismantled an interstate cyber fraud network involved in routing illicit funds through bank account kits, SIM cards, and ATM credentials, leading to the arrest of three key individuals from Haryana and Himachal Pradesh.
Major US technology companies, Meta and LinkedIn, are undergoing significant workforce restructuring, with Meta planning to lay off 8,000 employees while shifting 7,000 into AI-focused roles, and LinkedIn cutting over 600 jobs across various departments.
'You empower a man, you are not necessarily empowering a family, you are just empowering him.'
Despite current headwinds, India remains the world's fastest-growing major economy and should not allow near-term challenges to obscure its long-term growth potential, said Jane Fraser, Citi Chair and Chief Executive Officer.
The Reserve Bank of India (RBI) has unveiled draft norms for branch authorisation and business correspondents (BCs), introducing a two-tiered classification for BCs and redefining 'banking outlets' to include BC-Banking Outlets (BC-BOs), aiming to expand formal banking presence, particularly in rural areas.
Hyderabad Police Commissioner V C Sajjanar has proposed a Joint Working Group with the RBI and banks to address the issue of mule bank accounts used in cyber fraud. The proposal follows 'Operation Octopus,' which exposed vulnerabilities in KYC verification. Sajjanar also recommended strict directives for banks to fix accountability and adopt advanced technology to detect suspicious transactions.
In a move aimed at curbing the mis-selling of financial products, the Reserve Bank of India (RBI) has proposed banning incentives paid to bank staffers by third parties such as insurance companies and mutual fund houses for selling their products and services. It has also proposed that banks must ensure their user interfaces do not deploy "dark patterns" to lure customers.
A property near Heathrow Airport, London, worth Rs 7.5 crore has been attached by the Enforcement Directorate (ED) in connection with a bank loan fraud case involving Neo Corp International Ltd.
rediffGURU Vipul Bhavsar answers readers' personal income tax queries
A Delhi court has convicted Congress MLA Rajendra Bharti and a former bank employee in a case involving cheating and forgery of bank records to illegally obtain interest payments.
The Financial Times, citing multiple bankers and shareholders, reports that the real tensions ran far deeper than compliance concerns.
Delhi Police arrested a 30-year-old cyber fraudster from Jharkhand for allegedly duping a Delhi resident of Rs 6 lakh under the guise of KYC verification. The accused, Bimal Rabidas, confessed to the crime and was found to be involved in similar cases across multiple states.
Another accused in the alleged financial irregularities in Assam Fisheries Development Corporation Ltd has been apprehended in Odisha, marking the ninth arrest in the case.
'...even though the investigation in the matter is ongoing, we have paid 100 per cent of the principal and interest to relevant departments of the Haryana government.'
India's privatisation push, once projected as a cornerstone of economic reform, has suffered another setback, with the Centre set to call off the IDBI Bank stake sale, highlighting the political and structural constraints shaping the country's disinvestment policy, experts say.
Tata Consultancy Services (TCS) announced a 12.22 per cent increase in its net profit for the March quarter, reaching Rs 13,718 crore, alongside a 9.64 per cent rise in revenue from operations.
Normal banking operations were affected on Wednesday as the Left-leaning bank employees went on a one-day nation-wide strike to protest the proposed merger of the State Bank of Indore with its parent SBI.
'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.'
'When there is such an elaborate and a strong process, one would have expected anyone to either place the issues so that they can be addressed or go to the regulator and probably tell them rather than creating a kind of uncertainty for the stakeholders.
The CBI has registered an FIR to investigate the alleged embezzlement of 550 crore from Haryana government accounts held with IDFC First Bank, following a referral from the state government.
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Abusive language, threats, harassment, excessive or anonymous calls, public humiliation, and misleading representations are explicitly prohibited.
The quantum of fraud detected by the bank is more than the 503 crore net profit it reported for the October-December quarter of 2025-2026.
The West Bengal cabinet has decided to discontinue assistance-oriented schemes based on religious categorisation for Imams, muezzins and purohits from June. The cabinet also approved the 'Annapurna' scheme of Rs 3,000 monthly support to women from June 1, and granted in-principle consent for their free travel in state-run buses.
A 32-year-old man has been arrested in Delhi for allegedly defrauding a resident of 2 lakh under the guise of selling a second-hand car online. The accused impersonated an employee of a reputable online car sale platform to gain the victim's trust.
A local court in Mumbai has accepted the police's closure report in the alleged Rs 25,000 crore scam at the Maharashtra State Cooperative Bank (MSCB), giving a clean chit to the late deputy chief minister Ajit Pawar and other accused.
Chandigarh Police have launched an investigation into a fraud involving fake fixed deposit receipts (FDRs) worth 116.84 crore, allegedly issued by a private bank manager, impacting the Chandigarh municipal corporation's funds.
TCS, India's largest IT firm, is aiming to become the world's leading AI-led technology services company. CEO K Krithivasan highlights the company's strategy, including upskilling its workforce and executing nation-scale projects in India.
"Taxpayers with income from shares, mutual funds, crypto, ESOPs, or derivatives often incorrectly use ITR-1 instead of ITR-2 or ITR-3."
A gang of armed robbers targeted a State Bank of India branch in Surat, Gujarat, looting Rs 50 lakh in cash after threatening staff and customers.
