Police in Meerut have arrested two individuals for allegedly running a fake Common Service Centre (CSC) to open fraudulent bank accounts using forged documents of unsuspecting, needy people. The accused used these accounts for online financial frauds, leading to the recovery of numerous fake IDs, bank cards, and other incriminating evidence.
'AIS helps taxpayers check whether all income streams and reportable transactions -- such as interest from old bank accounts, small dividend receipts or transactions across multiple brokers -- have been properly disclosed.' 'Mismatches between these transactions and declared income may trigger automated notices or scrutiny.'
A 57-year-old man from Thane district was defrauded of Rs 9.08 lakh by cyber criminals who used a malicious link disguised as a Mahanagar Gas bill payment update, gaining remote access to his device and siphoning funds.
Markets regulator Sebi on Tuesday proposed introducing gift cards or gift prepaid payment instruments (PPIs) for investments in mutual funds to improve financial inclusion through onboarding of new investors in the space.
'RuPay' is developed by National Payments Corporation of India.
ICICI Bank is seeking recoveries of at least 100 crore from fintech firms, alleging merchant misclassification of their business, a practice that has eroded the bank's interchange income. The dispute, lodged with global card network Visa, highlights growing discomfort among banks and intensified scrutiny from the Reserve Bank of India.
Banks and oil companies are in discussions as to who should bear these charges, it said a day after averting a crisis that would have hit millions of people as oil pump owners threatened to stop taking card payments.
A 60-year-old retired man and 21 others in Thane district were allegedly defrauded of over Rs 31 lakh through a malicious link disguised as a piped gas bill update. The victims received an APK file via WhatsApp, leading to unauthorised debits from their bank accounts.
'We can integrate AI and tech into education, but that is just a means and not an end.' 'Ultimately, we need to control what happens in a classroom and we need to let teachers innovate their teaching style to suit the needs of Gen Z and beyond.'
Gurugram Police have arrested four individuals allegedly involved in an online betting fraud operation. The accused lured users with online gaming advertisements, processed payments through QR codes, and earned commissions on deposits.
Bhubaneswar police have busted a fraudulent digital escort service racket, arresting four individuals for allegedly misusing women's photographs on social media and cheating customers through online payments. The investigation, initiated by a woman's complaint, led to the seizure of digital evidence and a public advisory against such scams.
Delhi Police have arrested five individuals for allegedly abducting and robbing a man after luring him through a dating application in the Kalkaji area. The victim was assaulted, forced to transfer money, and later abandoned.
Authorised push payment frauds have emerged as a growing challenge globally as scammers increasingly rely on social engineering techniques to persuade users to transfer money voluntarily, making recovery more difficult even when transactions are authenticated.
Gurugram Police have arrested six individuals allegedly involved in a cybercrime racket that defrauded people through online gaming and betting platforms. The arrests followed a raid in Delhi's Janakpuri area, where authorities seized mobile phones, laptops, ATM cards, and other incriminating materials.
E-commerce major Flipkart has announced significant appointments to its technology leadership team, bringing in experts in artificial intelligence, data science, fintech, and core engineering. These strategic hires, including Goda Ramkumar, Mohan Palisetti, and Nitesh Jain, are aimed at strengthening Flipkart's capabilities in these critical areas to better serve India's expanding digital consumer and seller base.
E-commerce major Flipkart has announced significant appointments to its technology leadership team, bringing in experts in artificial intelligence, data science, fintech, and core engineering. These strategic hires, including Goda Ramkumar, Mohan Palisetti, and Nitesh Jain, are aimed at strengthening Flipkart's capabilities in these critical areas to better serve India's expanding digital consumer and seller base.
The amount involved in banking system frauds surged to Rs 21,515 crore in the first half of FY26, up 30 per cent from the same period last year, even as the number of frauds fell 2.8 times to 5,092.
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.
The Enforcement Directorate has uncovered a sophisticated organ trafficking racket in Kerala, operating under the guise of a medical tourism company. The network exploited financially distressed donors, forging documents and facilitating illegal transplant procedures at major hospitals, leading to arrests and freezing of assets.
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 Board of Secondary Education (CBSE) announced that nearly 40,000 students have successfully applied for verification and re-evaluation of Class 12 board exam answer books, despite the portal facing cyberattacks, including a denial-of-service attempt.
Delhi Police have arrested a man from Rajasthan for allegedly running an online shopping fraud racket, cheating people through fake social media advertisements offering discounted branded suits and sarees.
Outward remittances under the Reserve Bank of India's Liberalised Remittance Scheme (LRS) saw a 7.85 per cent year-on-year contraction in April 2026, primarily driven by reduced international travel spending due to global uncertainty stemming from the US-Iran conflict.
Despite the Reserve Bank of India's (RBI) and the government's recent initiatives to attract foreign capital, which are expected to alleviate pressure on long-duration bonds, most debt fund managers are maintaining a cautious stance, favouring shorter-duration papers due to global uncertainties and potential future rate hikes.
Fintech platform CRED announced a significant funding round of Rs 8,550 crore led by Meta, coinciding with founder Kunal Shah's departure as CEO to take on the global leadership role for WhatsApp.
The CBSE reported that its re-evaluation portal faced a series of cyberattacks, including a denial-of-service attack, while students accessed the platform for verification and re-evaluation of answer books.
Delhi Police have arrested Sourav, a 30-year-old man, for allegedly using AI-generated morphed images to blackmail young women and extort money. He would pose as a job provider, obtain resumes, and then manipulate screenshots from video calls to create obscene images for extortion. The arrest followed a complaint from a 19-year-old victim who was repeatedly blackmailed.
To promote cashless transactions, the government had waived the Merchant Discount Rate on fuel purchase post demonetisation for consumers. But after the expiry of the 50-day window, the banks have decided to levy MDR on petrol pump owners.
An individual was apprehended in Bareilly for impersonating a candidate during the Uttar Pradesh Education Service Selection Commission (UPESSC) Trained Graduate Teacher (TGT) examination. The "solver" confessed to a Rs 1.5 lakh deal to appear for the actual candidate, who is now being sought by police.
The move would help tax authorities get leads on evasion.
The Centre has announced that the Viksit Bharat -- Guarantee for Rozgar and Ajeevika Mission (Gramin) Act will come into force across the country from July 1, replacing the Mahatma Gandhi National Rural Employment Guarantee Act.
The National Payments Corporation of India (NPCI) is set to consider linking the ATM interchange fee to the Wholesale Price Index (WPI), alongside a potential hike from the current 19 to 21-22, which could impact customer charges for transactions beyond the free limit.
In its June 2025 review, the International Monetary Fund spotlighted India's Unified Payments Interface as the world's most dominant retail instant-payment network, moving more transactions than any other system on the globe.
The Reserve Bank of India's (RBI's) Payment Systems Report highlighted that between 2019 and 2024, credit card transactions doubled in volume and almost tripled in value. During the same period, however, debit card transactions witnessed a decline, both in volume and value.
Delhi Police have arrested two individuals for allegedly defrauding a man of approximately Rs 4.35 lakh in an online gas bill booking scam. The victim was tricked into installing a malicious mobile application that allowed the fraudsters to siphon off funds.
NPCI BHIM Services Ltd is expanding the BHIM app to feature phones to increase financial inclusion and diversify revenue through financial product distribution. The app aims to double its market share and is focusing on partnerships with banks and new features like UPI Circle.
The Centre has notified draft rules for the Viksit Bharat - Guarantee for Rozgar and Ajeevika Mission (Gramin) Act, 2025, outlining the framework for the new rural employment programme replacing MGNREGA. The draft rules are open for public feedback until June 21, 2026.
The NTA has also confirmed that the upcoming re-examination, scheduled for June 21, 2026, will be conducted entirely free of cost for all previously registered candidates, funded fully through the agency's internal reserves.
Moving beyond digital payments, the National Payments Corporation of India (NPCI), the operator of Unified Payments Interface, is planning to add more muscle to the country's digital infrastructure by setting up a fourth subsidiary, NPCI Tech Solutions Ltd (NTSL).
Bernstein brokerage firm maintains 'Outperform' rating for Paytm, stating the PPBL licence cancellation will not impact Paytm's business and may open new regulatory opportunities.
