Odisha Police have arrested a former banking correspondent for allegedly misappropriating around Rs 27 lakh of depositors' money in Jajpur district.
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.
However, despite the surge, the average income of banking correspondents has taken a beating due to the low value of transactions.
India's banking system liquidity has fallen into a deficit for the first time in nearly three months, prompting the Reserve Bank of India (RBI) to inject 1.41 trillion through a seven-day variable rate repo (VRR) auction to ease the temporary tightness.
India's net foreign direct investment (FDI) surged more than fourfold to $6.58 billion in April 2026, driven by a significant increase in equity inflows and reduced repatriation by foreign investors, according to the Reserve Bank of India (RBI).
Jio Payments Bank introduces UPI-based cash withdrawals at business correspondent touchpoints, enhancing financial inclusion and simplifying access to cash for rural and semi-urban customers.
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.
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.
State-owned Life Insurance Corporation of India (LIC) has reported a net profit of over Rs 23,400 crore for the January-March quarter, making it the highest profit-making firm in the Indian financial sector during this period, surpassing major banks like SBI and HDFC Bank.
Loans against gold jewellery in India surged by an impressive 128 per cent year-on-year to nearly 4.28 trillion in February 2026, according to the latest Reserve Bank of India (RBI) data, significantly outpacing overall retail loan growth.
The Enforcement Directorate (ED) is set to appeal the Delhi High Court's decision to quash a money laundering case against news portal NewsClick and its editor-in-chief Prabir Purkayastha, arguing that the High Court 'overlooked or left unaddressed' critical contentions regarding alleged FDI rule violations and false representations to authorities.
UPI transactions in India reached record highs in May, driven by summer travel and the IPL, with transaction value hitting Rs 29.90 lakh crore and volume reaching 23.2 billion.
The Reserve Bank of India (RBI) has reported a significant increase in the use of the Indian Rupee (INR) for import and export invoicing and settlement, highlighting its growing internationalisation and mutual benefits for trading partners.
The CBI has filed a chargesheet against AVJ Developers, bank officials, and others for allegedly cheating financial institutions and homebuyers in Greater Noida.
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.
Overseas travel spending by Indians, including holiday trips, decreased by $212.43 million to $1.09 billion in March compared to February, according to the Reserve Bank of India's latest data.
Uttar Pradesh DGP Rajeev Krishna announced a conviction rate of over 93 per cent due to the state's 'zero tolerance' policy against crime. Authorities seized properties worth nearly Rs 788.38 crore linked to criminal activities.
The State Consumer Disputes Redressal Commission has directed Bank of India to compensate a senior citizen for losses incurred due to unauthorized ATM transactions, citing deficiency in service and failure to adhere to security protocols.
Fino Payments Bank asserts its compliance with GST regulations following the arrest of its MD and CEO, Rishi Gupta, by the Directorate General of GST Intelligence (DGGI). The bank clarifies that the investigation pertains to program managers associated with multiple banks and not the bank's own GST compliance.
Hampton Sky Realty Limited, formerly directed by Punjab minister Sanjeev Arora, has issued a statement asserting its innocence and cooperation with authorities following the arrest of Arora in connection with a money laundering probe.
Indore police have busted a gang involved in investment fraud, arresting five individuals and uncovering links to a WhatsApp account operated from Cambodia.
The only thing that might make the BJP stop trying to isolate Muslims completely will be if substantial numbers of the community vote for the party that flaunts its animosity towards it, notes Jyoti Punwani.
India has expressed strong concerns over attacks on commercial ships in the Strait of Hormuz, citing its importance to India's energy and economic security. Ambassador Yojna Patel highlighted the need to respect international law and ensure the safety of seafarers, while also addressing broader Middle East issues including the situation in Gaza and Lebanon.
Delhi Police have arrested four men from Maharashtra, Odisha, and Bihar for allegedly planning terror activities and attempting to recruit others online. An IED and related materials were seized during the operation.
The BJP will use Samrat Choudhary to make a dent into Nitish Kumar's traditional social support base of Kurmi and Koeri/Kushwaha communities.
A penalty of Rs 91 lakh has been imposed on HDFC Bank for violating certain provisions of the Banking Regulation Act, the Reserve Bank said on Friday. The penalty has been imposed on the private sector lender for deficiencies in statutory and regulatory compliance, including those related to Know Your Customer (KYC).
'Nearly 80 of 85 JD-U MLAs are not in favour of a CM from the BJP.'
For every 100 rupees, households invested Rs 45.2 in mutual funds and equities in 2024-2025.
'There is no shortage of fuel whatsoever.' 'India is stock surplus as far as petrol and diesel are concerned.'
Mastercard and Visa are introducing passkeys that will allow users to authenticate card payments with face scans or fingerprints, eliminating the need for one-time passwords (OTPs).
By all available indications, the White House drafted a face-saving note and handed it, ready-made, to Islamabad. Pakistani Prime Minister Shehbaz Sharif was supposed to then post it in the guise of a plea urging Trump to extend the deadline by two weeks 'to allow diplomacy to run its course'. Trump would then graciously accept Pakistan's 'request' and declare a ceasefire. Sharif dutifully posted the message on X. Except that he, or whoever was handling the account, forgot to delete the tell-tale first line visible in the edit history: 'Draft - Pakistan's PM Message on X'. Prem Panicker's must read blog on the Iran War.
The Enforcement Directorate has attached assets worth over 441 crore in connection with the Andhra Pradesh liquor scam, which allegedly occurred during the previous YSRCP government's tenure.
Jammu and Kashmir Chief Minister Omar Abdullah has urged the central government to approve West Bengal's request to rename the state, following the approval of a similar proposal for Kerala.
It now has become clear that he will have to quit his post.
Fight on toward goals that keep receding, or exit with most objectives unmet. Trump is agitated, his poll numbers falling below the Plimsoll line, his base fractured between those who back the war and those who remember that he campaigned on ending them.
The Reserve Bank of India (RBI) on Wednesday met the long-standing demand of banks by allowing them to finance acquisitions by Indian companies, a move that also expands banks' capital market lending in the country.
In order to optimise branch efficiency, public sector banks (PSBs) are reworking their strategies to streamline operations and reduce cost amid changing customer behaviour. The strategies include closing or merging low traffic branches and reducing their size in smaller centres.
The aggregate net worth of the country's 176 dollar billionaires dropped to $984.2 billion during 2025, down from a record $1,036.2 billion at the end of December 2024.
Private-sector lender IndusInd Bank had said the Serious Fraud Investigation Office (SFIO) interacted with its officials this week and would send a written communication seeking specific details related to the accounting discrepancies identified at the bank.
'A breakout above 158,000 to 160,000 could trigger the next leg higher toward 165,000 to 170,000.'
