The Calcutta High Court has appointed a retired judge as a special officer to manage the day-to-day expenses of the Mamata Banerjee-aligned Trinamool Congress (TMC) from three debit-frozen bank accounts. The accounts were frozen following a complaint by a rival TMC faction alleging they held proceeds of crime. The court allowed transactions for party expenses and legal costs, noting that the initial freezing lacked specific material basis and that the complainant had previously benefited from these accounts.
Shares of HDFC Bank rose nearly 3 per cent after its Managing Director and Chief Executive Sashidhar Jagdishan decided not to seek reappointment after his current term concludes on October 26.
Most Indian investors start their investment journey with the wrong question. They ask, "Which fund will give the highest return?" instead of "How do I structure my investments so that I pay less tax, manage risk effectively, and still compound wealth over time?"
India's foreign exchange reserves saw a decline of USD 5.011 billion, reaching USD 721.016 billion for the week ending October 16, as reported by the Reserve Bank of India. This marks a continued downward trend from their all-time high in September.
State Bank of India Chairman C S Setty stated that banks will take three to four months to deploy the significant funds mobilised through foreign currency non-resident (bank), or FCNR(B), deposits, which is unlikely to cause "abnormal lending". He also highlighted the need for agentic artificial intelligence (AI) costs to fall sharply for its widespread deployment in India, envisioning its role in transforming banking from fraud detection to personalised financial assistance.
'The sales pressure on the ground, a board and CEO not fully aligned, and a senior team that isn't pulling together -- that's when these things surface.'
Growth in India's currency in circulation (CiC) has reached a five-year high, primarily due to deposits under the Foreign Currency Non-Resident (Bank), or FCNR(B), scheme, leading to a robust increase in reserve money, according to the Reserve Bank of India's (RBI) 'State of the Economy' report.
A 31-year-old bank manager was found dead under mysterious circumstances inside the washroom of a pub in Bengaluru. Police are investigating the incident.
'Once you're wrestling with making a merger of that scale value-accretive, you're also under pressure to keep growing the balance sheet and chasing liabilities, and other things start to slip as a consequence.'
Rajasthan police have made a second arrest in Kochi in connection with a "digital arrest" fraud where a 90-year-old retired judge was defrauded of Rs 2.5 crore. The victim was allegedly kept under digital arrest for 15 days and coerced into transferring money by fraudsters posing as CBI officials and an RBI manager.
Jared Kushner, former US President Donald Trump's son-in-law, has vehemently denied "outrageous and categorically false" allegations in a new book, "Princes and Thieves," which claims he accessed secret bank accounts linked to UAE, Saudi, and Israeli funds. Kushner stated on X that the author provided no evidence and that such claims never surfaced during his extensive past investigations.
J&K Bank MD and CEO Amitava Chatterjee defended the surcharge on UPI transactions above Rs 2,000, stating it is necessary for the system's long-term sustainability. He also discussed the shift of household savings to mutual funds, the bank's profit growth, and India's consumption-based economy.
Shriram Finance, a leading Indian NBFC, is aggressively expanding its gold loan and electric vehicle (EV) financing segments, targeting a Rs 20,000 crore gold loan portfolio within two years and expecting significant growth in EV disbursements.
Investors are set to monitor quarterly earnings, crude oil prices, the Jio Platforms initial public offering, and foreign investor activity in the upcoming holiday-shortened week, according to market analysts.
A Delhi court has denied bail to Karan, an alleged member of an organised cybercrime gang, in a case involving over Rs 20 lakh. The court cited the serious nature of the allegations, the accused's role, and the unrecovered funds as reasons for dismissal, noting that his previous bail plea was also rejected in May this year.
Reserve Bank of India (RBI) Governor Sanjay Malhotra stated that surplus liquidity in the banking system is expected to drain within the current financial year, utilising tools like currency leakage, sell-buy swaps, open market operations (OMOs), and variable rate operations.
State Bank of India (SBI) is extensively using artificial intelligence to underwrite nearly Rs 1 lakh crore in MSME loans and automate the processing of cheques up to Rs 10,000. This AI adoption aims to enhance efficiency, free up employee bandwidth, and improve customer service across various banking functions.
A savings or current account with no customer-induced transaction for more than 24 months is classified as inoperative.
A sophisticated cross-bank syndicate is systematically defrauding non-resident Indians (NRIs) and elderly citizens by exploiting their fixed deposits through forged documents and fictitious loans, often involving colluding bank employees and real estate deals.
A special CBI court in Mumbai denied bail to Sandeep Mistry, an associate of fugitive businessman Nirav Modi, in the multi-million-dollar Punjab National Bank (PNB) scam. The court cited Mistry's history of destroying evidence and his absconding for seven years as reasons for the denial, expressing concerns about securing his presence during the trial if released.
The Supreme Court has issued a directive for the Shri Banke Bihari Temple in Vrindavan, mandating that all donations must be deposited into official donation boxes or the online temple treasury. This comes amidst serious allegations of sevayats siphoning off funds and obstructing online donation methods, highlighting the need for a transparent mechanism in temple management.
Faridabad police have arrested six individuals in connection with a cyber-fraud case where Rs 50 lakh was swindled using a company CMD's photograph on WhatsApp. The police managed to freeze Rs 29 lakh of the defrauded amount. The accused, from Mumbai and Gujarat, were produced in court and sent to judicial custody.
The rise in loan sizes reflects both higher vehicle prices and a shift from entry-level cars to SUVs.
Jio Platforms' initial public offering has garnered an overwhelming institutional demand of approximately Rs 2.5 lakh crore, significantly exceeding its Rs 8,110-crore anchor book, with global and domestic investors vying for a stake in the Reliance Industries subsidiary.
Jio Platforms' initial public offering has shattered global records by receiving over one crore applications, underscoring immense investor confidence in the company's ambitious plans for technology, AI, and cloud services, with the IPO subscribed almost seven times overall.
The 200-DMA is a closely watched indicator of a stock's long-term trend and can serve as an early warning of trouble.
'It's not about individuals operating the mule accounts being more or less skilled. Instead, 'lower-level' refers to the role the individual account plays in the broader mule network.'
Delhi Police have arrested 11 individuals involved in multiple "digital-arrest" scams, recovering over Rs 12 crore. The scams, linked to handlers in Southeast Asia, have affected 78 complainants nationwide, totaling Rs 73 crore. A retired scientist was defrauded of Rs 1.25 crore, with the entire amount frozen. The investigation uncovered a network arranging mule bank accounts and using cryptocurrency for commissions.
The Economic Offences Wing (EOW) of the Crime Branch Jammu has filed a chargesheet against two individuals, Manoj Kumar and Vikram Singh, in a financial fraud case involving over Rs 1.22 crore collected from investors in Samba district. The accused allegedly induced residents to invest in schemes from unregistered or de-registered NBFCs, promising high returns but failing to deliver.
The Reserve Bank of India has opened a special dollar window for three public sector oil marketing companies (OMCs) to meet their daily dollar requirements, aiming to curb the rupee's depreciation amidst global economic uncertainty. Additionally, the RBI has introduced new regulatory measures for the foreign exchange market, including reducing the threshold for derivative transactions without underlying exposure and introducing a Foreign Exchange Risk Reserve (FERR).
Modi's cautious response, omitting the public invite from his telephonic conversation summary, suggests India's reluctance to be drawn into Israel's internal politics, points out M R Narayan Swamy.
Finance Minister Nirmala Sitharaman stated that the Reserve Bank of India (RBI) will persist in its efforts to prevent excessive volatility in the rupee, which has significantly depreciated against the US dollar due to global uncertainties, despite India's strong macro-economic fundamentals.
The Economic Offences Wing (EOW) of the Crime Branch has filed a chargesheet against four individuals in a 16-year-old fraud case involving Johar Veer Goga (JVG), an unauthorised non-banking finance company in Jammu. The case stems from an investor's complaint in 2010 regarding an unpaid fixed deposit from 1996-97, revealing that JVG operated without proper regulatory registration.
The goal is to ensure that your bank works for you, providing liquidity and convenience without charging you for the privilege of holding your own money.
Jio Platforms (JPL) is preparing a capex-light strategy to commercially launch 6G services in the early 2030s through software upgrades, rather than fresh infrastructure investments, according to Akash Ambani, managing director of JPL.
Indian benchmark indices Sensex and Nifty saw a significant rebound in early trade, with the Sensex surging over 700 points, driven by a decline in crude oil prices, easing concerns over Federal Reserve tightening, and the appointment of Anup Bagchi as the new MD and CEO of HDFC Bank.
Indian banks and non-banking financial companies (NBFCs) are undertaking a comprehensive review and reset of their engagement terms with fintech firms, driven by the Reserve Bank of India's (RBI) draft Guidance on Regulatory Expectations for Data Governance and the stringent compliance requirements of the Digital Personal Data Protection (DPDP) Act, 2023, and its 2025 Rules.
Choose a car loan that fits your budget, keeps EMIs manageable and saves you money on interest, not just one with attractive festive offers.
Naman Dhir's unbeaten 42 off 15 balls secured a thrilling four-wicket win for India against New Zealand in the first T20I, showcasing his potential as a reliable finisher for the national side, drawing praise from cricket legends like Ravichandran Ashwin and Ravi Shastri.
Tata Capital remains confident in its 23-25 per cent growth guidance, driven by strong momentum in Retail and SME segments, despite facing pressures from rising funding costs and potential impacts from new RBI regulations on revolving credit.
