Indian equity markets, including the Sensex and Nifty, experienced a significant downturn for the second consecutive day, driven by escalating geopolitical tensions in West Asia and persistent foreign fund outflows.
Indian stock markets experienced a significant sell-off, with the Sensex tumbling over 1,300 points, driven by escalating crude oil prices due to US-Iran tensions and Prime Minister Narendra Modi's call for austerity measures, which amplified investor concerns about India's economic outlook.
The Reserve Bank of India (RBI) has issued a statement assuring the public of HDFC Bank's stability and sound financial position following the resignation of its chairman, Atanu Chakraborty, citing ethical concerns.
'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.
ICICI Bank has received a demand notice of 768.6 crore from tax authorities for alleged short payment of GST, related to services provided to customers maintaining minimum balances.
'First-time applicants may witness longer approval times or higher rejection rates and requests for more documentation.'
India's retail inflation, measured by the Consumer Price Index (CPI), increased to 3.48 per cent in April, up from 3.40 per cent in March, primarily due to a surge in prices of gold and silver jewellery, as well as certain kitchen staples like tomatoes and cauliflower.
Delhi Police have arrested five individuals from Uttarakhand's Udham Singh Nagar for their involvement in an interstate cyber fraud racket. The syndicate supplied mule bank accounts to cyber criminals, routing cheated money from online investment and task-based scams.
Gujarat police have arrested 10 individuals in connection with a cyber fraud racket involving over Rs 53 crore and spanning at least 20 states. The accused lured individuals into renting out their bank accounts, which were then used to receive and transfer funds obtained through various fraudulent schemes.
Police in Gadag, Karnataka, have arrested five men for allegedly luring students with false promises of scholarships to open bank accounts for illegal transactions.
The Reserve Bank of India (RBI) announced that it processed 99.7 per cent of applications within the prescribed timeline under its Citizen's Charter in April 2026. The central bank handled a total of 21,150 applications, showcasing its commitment to efficient service delivery.
Police in Kanpur have arrested a suspected mastermind behind a network of fake firms, forged documents, and suspected hawala transactions worth over Rs 3,200 crore.
Delhi Police have arrested a man from Bihar for allegedly committing credit card fraud of Rs 3.99 lakh. The accused used stolen credentials to make purchases through the victim's e-commerce account.
Delhi Police have arrested three individuals, including a bank official, for allegedly defrauding a retired government officer of over Rs 45 lakh through a fake trading application.
A 39-year-old driver in Delhi, employed by a family for 15 years, has been arrested for allegedly exploiting an elderly Alzheimer's patient and siphoning off Rs 2.57 lakh through unauthorised UPI transactions.
From the financial year 2025-2026, the government has introduced a new column in the tax return form for presumptive taxpayers, requiring them to disclose their year-end investments. This requirement was not present last year.
A bank manager in Ghaziabad was shot dead by a security guard following disputes over salary and leave, leading to the arrest of the guard and an accomplice.
Deferred payment plans may come with a cost, which may not be immediately visible.
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.
The Enforcement Directorate has reported a staggering 170 per cent surge in asset attachments, reaching 81,422 crore in the last financial year (FY26), underscoring its intensified efforts against financial crimes and its significant role in restituting funds to victims.
The source of a leaked NEET-UG 2024 guess paper has been traced to a medical student in Kerala, originally from Sikar, Rajasthan. The student shared the paper with friends and a hostel owner, leading to wider circulation and a subsequent investigation.
Kerala Police have issued a warning about a new form of cyber fraud targeting people buying mattresses online. Fraudsters pose as fake customer care representatives of mattress companies and pressure customers into making immediate payments.
Rajasthan Police dismantled a cyber fraud operation, arresting 17 individuals for allegedly defrauding an accountant of Rs 5.30 crore by impersonating his company's chairman on WhatsApp.
Preferential equity listings in India reached an unprecedented 1,307 in FY26, marking a 33% increase from the previous year and reflecting a strategic choice for companies during market volatility.
Delhi Police have dismantled an interstate cyber fraud syndicate, arresting 14 individuals allegedly involved in fraudulent transactions exceeding Rs 8 crore. The accused targeted job seekers with fake work-from-home opportunities via social media and job portals.
Unified Payments Interface (UPI) has reached a record Rs 314 lakh crore in transaction value in FY26, representing more than a 4,000-fold increase since inception.
Axis Bank has partnered with the DP World Professional Golf Tour of India (DP World PGTI) as its official banking partner, aiming to strengthen professional golf in India.
Governance uncertainty and leadership visibility gap are likely to keep the stock under pressure in the near term, said Nomura in a report.
Two individuals have been arrested in Gurugram for allegedly providing bank accounts to cyber fraudsters involved in an investment scam that defrauded victims of approximately Rs 1.09 crore.
An administrative inquiry has been ordered after a man in Odisha was allegedly forced to carry his sister's skeleton to a bank to withdraw money. The BJD has alleged further mistreatment, claiming he was made to re-bury the remains. The bank denies asking for the corpse, stating they only required a death certificate.
Indian benchmark indices Sensex and Nifty experienced a decline due to renewed geopolitical concerns in the Strait of Hormuz, a strained US-Iran ceasefire, and the rupee hitting a record low against the US dollar.
Delhi Police have arrested Abas Khan, the alleged kingpin of a sextortion racket, from Rajasthan's Mewat region for allegedly duping a 21-year-old man of Rs 2.52 lakh through a fake video call and blackmail.
A consumer commission in Nagpur, Maharashtra, has penalised Axis Bank for deficiency in service, ordering a refund and compensation to a customer over a failed ATM transaction from 2018.
A Nepalese national was arrested near the Indo-Nepal border in Uttar Pradesh's Bahraich district with 4.66 kilograms of illegal charas worth about Rs 2.5 crore.
Best in class asset quality, strong retail granularity, and a sustainable return ratio -- these are the things we will look at, says Yes Bank's new MD and CEO Vinay Tonse.
Uttar Pradesh Chief Minister Yogi Adityanath announced that the state has secured investment proposals worth approximately Rs 50 trillion over the past nine years, attributing this economic revival to the enforcement of the rule of law and strategic policy changes. He affirmed UP's trajectory towards becoming a $1 trillion economy by 2029-30.
Foreign Portfolio Investors (FPIs) have withdrawn Rs 14,231 crore from Indian equities so far in May, extending the total outflow for 2026 to over Rs 2 lakh crore, driven by persistent global macroeconomic uncertainties including inflation, interest rates, and geopolitical risks.
Grandmaster Abhijeet Gupta is struggling to receive his prize money from the Odisha Open, prompting him to seek intervention from the Sports Ministry after repeated assurances from organisers yielded no payment.
The Enforcement Directorate (ED) has arrested three founders of online gaming platform Gameskraft in connection with a money laundering case linked to alleged fraud.
Indian benchmark indices, Sensex and Nifty, rallied significantly following a sharp decline in crude oil prices. This decline was triggered by US President Donald Trump's announcement of progress in negotiations with Iran towards a peace agreement, which led to renewed optimism in global markets.
© 2026 Rediff.com - Advertise with us - Disclaimer - Privacy Policy - Sitemap - Feedback - About us - Terms of use - Grievances