Police in Belagavi, Karnataka, have arrested the operator of Shivam Associates, accused of running a multi-crore Ponzi scheme that promised high returns to depositors. The case has been registered under the BUDS Act and KPID Act, and will be transferred to the CID for further investigation.
Police in Karnataka have arrested an individual running a firm accused of operating a multi-crore deposit scam, attracting investments with promises of high returns. The case involves Shivaanand S Neelanavar and his firm Shivam Associates, also known as Acumen, who allegedly failed to return money to depositors after promising a 36 per cent annual return.
Flows from overseas Indians into Non-Resident Indian (NRI) deposit schemes have fallen by 24.17 per cent to approximately $11.04 billion between April 2025 and February 2026, down from $14.56 billion in the previous year, according to Reserve Bank of India (RBI) data.
The BJP has won the repoll to Bengal's Falta Assembly seat with a significant margin, marking a dramatic shift in the political landscape of West Bengal. The TMC's candidate slipped to fourth place and forfeited his deposit in what was once considered a TMC stronghold.
Indian bank credit expanded by 16.08 per cent year-on-year in FY26, marking its fastest pace since FY24, while deposits grew by 13.47 per cent, according to RBI data. Experts caution that year-end figures may be inflated due to reporting date changes, but acknowledge strong momentum in corporate, MSME, and retail segments.
HDFC Bank reports a 12% credit growth for the March quarter, alongside the unexpected resignation of its chairman, Atanu Chakraborty, due to ethical concerns.
The BCCI's Anti-Corruption Unit has banned the use of smart sunglasses by players and match officials in the ongoing IPL due to security concerns and advanced communication features.
HDFC Bank's shares experienced a dip on Wednesday after a newspaper report alleged that the bank made illegal payments to the Maharashtra State Road Development Corporation to secure large deposits, raising concerns about corporate governance.
CPI(M) state secretary M V Govindan has accused a Kozhikode-based cooperative society of fraud following the alleged suicide of a depositor, claiming the society, run by local Congress leaders, failed to return the deceased's money.
The Panchkula Municipal Corporation has reported discrepancies in its Fixed Deposit Receipts (FDRs) with a private bank, amounting to approximately 150 crore. The matter has been reported to the State Vigilance for further investigation.
A 44-year-old man from Thane has been booked for allegedly defrauding seven investors of Rs 1.61 crore by promising high returns on cryptocurrency investments.
An Assam Civil Service (ACS) officer has been arrested on graft charges, with over Rs 1.66 crore in cash and fixed deposits worth another Rs 86 lakh seized, along with investment documents.
Self-proclaimed godman Ashok Kharat, accused of portraying himself as Lord Shiva and using black magic to extort money from victims, has been arrested by the Enforcement Directorate.
The Odisha vigilance department apprehended two government officers on Wednesday for accepting bribes in separate incidents. An Assistant Civil Supplies Officer in Keonjhar district was caught taking Rs 15,000, while a junior engineer with the National Health Mission in Sundargarh was caught taking Rs 5,000.
The Supreme Court has scheduled a July hearing for the Rs 500 crore money decree case involving Ras Al Khaimah Investment Authority (RAKIA) and industrialist Nimmagadda Prasad, following the failure of a mediation process led by former Chief Justice of India U U Lalit.
The CBI has arrested five individuals, including a key figure, in connection with the LUCC chit fund scam in Uttarakhand, which involves over Rs 400 crore. The case concerns alleged irregularities by the Loni Urban Multi-State Credit and Thrift Co-operative Society (LUCC), accused of enticing investors into unregulated schemes.
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.
Gujarat cyber police have arrested 13 individuals allegedly involved in a network responsible for 982 cyber crimes across India, resulting in losses of over Rs 631 crore.
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A Belagavi court has remanded Shivaanand Neelannavar, the alleged kingpin of a multi-crore ponzi scheme, to 10 days of CID custody for further investigation. The case involves an alleged fraud of nearly Rs 1,000 crore and affects around 35,000 investors.
The Reserve Bank of India (RBI) reported a significant 52 per cent year-on-year increase in gains from foreign exchange transactions, reaching 1.69 trillion in FY26. This surge occurred despite the central bank selling a gross $195 billion in the spot market to manage rupee volatility, which saw a 9.85 per cent depreciation.
A special CBI court in Thane acquitted a former central government employee accused of accepting a bribe, citing insufficient proof of demand despite the recovery of currency notes.
The Enforcement Directorate has frozen Rs 526 crore in bank deposits and seized gold jewellery worth Rs 3.5 crore along with Rs 11 lakh in cash after concluding searches in a money laundering case against online gaming platform Gameskraft.
Two individuals have been arrested in Belagavi, Karnataka, for allegedly stealing gold ornaments worth Rs 1.2 crore from the residence of an elderly doctor couple. Police have recovered a significant portion of the stolen goods and are continuing efforts to retrieve the remainder.
Delhi Police have arrested a man from Madhya Pradesh in connection with a multi-crore bank fraud case involving forged cheques and fraudulent withdrawal of funds from an Amity University account.
The Enforcement Directorate conducted searches at the residences of former Kerala chief minister Pinarayi Vijayan and his family members as part of its money laundering probe linked to the CMRL case involving his daughter.
A government engineer in Odisha's Bhadrak district is under investigation after the Vigilance Department allegedly discovered multiple assets, including land plots and residential buildings, disproportionate to his known income sources.
A Thane court has sentenced a financial advisor to two years rigorous imprisonment in a case of criminal breach of trust filed by a woman and imposed a fine of Rs 30 lakh on him.
A Thane court acquitted Raj Thackeray and others in a 2008 case of alleged assault on Railway Recruitment Board examinees, citing lack of evidence and failure to prove Thackeray's presence or incitement.
Public-sector banks (PSBs) in India have reported an 11.2 per cent year-on-year rise in net profit, reaching a record 1.98 trillion in FY26, marking their fourth consecutive year of profitability, driven by sustained business growth, improved asset quality, and strong capital positions.
The University of Gloucestershire is looking for international student-athletes for funded study and training opportunities in the UK.
CPI(M) workers clashed with security personnel outside former Chief Minister Pinarayi Vijayan's residence in Kerala during Enforcement Directorate (ED) searches related to the alleged CMRL monthly payment case involving his daughter.
Delhi Gymkhana Club members call takeover "illegal" and highlight heritage and social value.
A Thane resident was defrauded of Rs 93.30 lakh after being enticed into a forex trading scheme by two individuals, who have since been booked by the police.
Delhi Police have dismantled a cyber fraud racket based in Mewat, arresting four individuals for allegedly impersonating Indian Air Force officials and defrauding businessmen using forged documents.
The Enforcement Directorate conducted searches at the residences of former Kerala chief minister Pinarayi Vijayan and his family members as part of a money laundering probe linked to the CMRL case involving his daughter, Veena Vijayan.
Earlier, most investors counted on traditional options like fixed deposits, gold, or property. But in 2026, you will have access to a much wider range of opportunities across different markets and sectors.
The RBI will now charge banks different deposit insurance fees based on how risky they are, allowing safer banks to pay less premium.
Delhi Police have arrested a 26-year-old man for allegedly siphoning off Rs 1.48 lakh from his paralysed brother-in-law's bank accounts after gaining the family's trust as his caretaker.
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