Popular gaming titles League of Legends and Valorant were also impacted.
The overall number of frauds, including those related to loan accounts and digital payments, jumped by three times in FY25, primarily due to reclassification of 122 cases as per a Supreme Court order, the Reserve Bank said on Thursday. The fraud value jumped to Rs 36,014 crore in FY25, up from Rs 12,230 crore in the previous fiscal year, while the number of fraud cases went down to 23,953 in FY25 from 36,060 in FY24.
'Companies will need to revisit compensation structures, contracts, staffing models, and human resources system.'
Reserve Bank Governor Sanjay Malhotra on Wednesday exhorted the fledgling fintech ecosystem to focus on the underserved sections of the society to deepen financial inclusion. Speaking at the annual Global Fintech Fest in Mumbai, Malhotra accepted that serving the "privileged" will be a lucrative business, but urged the smaller companies to focus on the underserved.
Neo banks, along with mid-sized banks, are establishing global capability centres (GCCs) in India, mirroring the expansion strategies of larger global counterparts. This trend is being seen as the next major wave in the country's banking, financial services, and insurance (BFSI) sector.
'The Indian consumer is moving so quickly and they have so many options.'
With rising credit demand, cleaner balance sheets, and renewed investor confidence, banks are positioned at the forefront of the market rally. From major players like ICICI and HDFC to broader policy shifts, there's much driving this momentum.
With rising credit demand, cleaner balance sheets, and renewed investor confidence, banks are positioned at the forefront of the market rally. From major players like ICICI and HDFC to broader policy shifts, there's much driving this momentum.
With rising credit demand, cleaner balance sheets, and renewed investor confidence, banks are positioned at the forefront of the market rally. From major players like ICICI and HDFC to broader policy shifts, there's much driving this momentum.
Pankaj Kapur, who visibly enjoys playing the ringmaster to this family circus, is the glue that holds Thode Door Thode Paas together, observes Deepa Gahlot.
Ask rediffGURU and PF expert Nitin Narkhede your mutual fund and personal finance-related questions.
'Solutions developed in India are being commercialised and offered globally because we're executing at scale, creating new markets and revenue streams.'
The accused had links with six persons, arrested on November 3 from Morbi, Surendranagar, Surat and Amreli districts, for allegedly routing Rs 200 crore to Dubai-based cybercriminals using nearly 100 mule accounts, the release said.
The best way for India to prepare is by preserving and strengthening the RBI's hard-won credibility, point out Rajeswari Sengupta and Vaishali Garga.
'We currently have new proposals worth Rs 1.48 trillion in the pipeline.'
India and Russia have agreed to encourage joint manufacturing of military hardware and spare parts in India, aiming to improve maintenance of Russian-origin defence equipment and boost overall bilateral defence cooperation.
Flipkart has received a lending licence from the Reserve Bank of India (RBI), the Walmart-backed ecommerce company confirmed on Thursday. The nod came in March this year, according to sources.
A phone number and e-mail are often enough for a fraudster to trick a lender into pulling your report and disbursing a loan.
A 32-year-old Delhi resident was allegedly duped of over Rs 9 lakh by a person posing as the chief of the Anti-Terrorism Squad (ATS) and accusing him of being involved in the Pulwama terror attack.
The fundamental responsibility for preventing such crimes and for bringing the criminals to justice rests with the State, and it cannot abdicate that function.
India's housing finance sector is riding a wave of post-pandemic revival, driven by policy support, digital innovation, and growing demand from younger homebuyers in emerging cities.
Canadian firm Manulife and Mahindra & Mahindra (M&M), an Indian automaker with interests in financial services, have signed an agreement to form a 50:50 life insurance joint venture (JV) with a total capital commitment of up to Rs 3,600 crore each totalling Rs 7,200 crore.
Before signing up for a BNPL plan, read the fine print carefully and watch for red flags like unclear repayment terms, vague information on interest or late fees, and marketing that downplays the cost of default.
Private sector lender HDFC Bank on Thursday said the Reserve Bank of India (RBI) has asked it temporarily stop all launches of its upcoming digital business-generating activities and sourcing of new credit card customers after outage at its data centre which impacted operations last month.
'It is not looking at valuation, but investment, growth and ultimately better profit for stakeholders.'
...compared with 153,000 in all of 2024.
UPI crossed 20 billion monthly transactions for the first time in August 2025, with a transaction value of Rs 24.85 trillion.
'For most investors, I recommend a low double-digit allocation (10 to 12 per cent) to gold and silver combined.'
Finance Minister Nirmala Sitharaman on Thursday asked India Inc to take advantage of the policies and reforms undertaken by the government and no longer hesitate to invest more and expand capacities. Sitharaman also asked the industry to partner with the government for skilling the youth and also to engage with the government throughout the year, and not just before the Budget.
'Her outstanding performance in the World Cup has definitely added to her brand value significantly. The high WPL bids validate it more.'
Prime Minister Narendra Modi on Thursday invited global businesses to participate in the growth story of India, which is the fastest growing large economy of the world.
'Maybe he was wrong, but they believed he genuinely meant what he said.'
'...aggressive pricing amid volatility, but these are exceptions.'
India's merchandise exports grew in the first three weeks of November compared with the same period last year, according to preliminary government data, Commerce and Industry Minister Piyush Goyal said on Tuesday. The uptick comes despite globa
'When you think of cross-border payments, the first things that come to mind are risk, compliance, taxation, speed, and cost.'
With 18,000 employees already, NatWest eyes 3,000 engineers in India by next year to strengthen its AI and data capabilities.
Gujarat police arrest a woman allegedly involved in trafficking job aspirants to Myanmar and Thailand for cyber slavery. The accused lured people with promises of high-paying jobs and forced them to work for international cyber crime syndicates.
The Securities and Exchange Board of India (Sebi) has planned a slew of further relaxations to facilitate easier registrations of foreign portfolio investors (FPIs), including a common know-your-client (KYC) and smoother documentation through India digital signature.
The Central Bureau of Investigation (CBI) conducted searches at seven locations across India in connection with a Rs 350 crore crypto ponzi scam. The accused, operating seven modules in different cities, allegedly lured investors with promises of high returns on cryptocurrency investments. The CBI seized digital virtual assets totaling USD 38,414 in cryptocurrency wallets, cash amounting to Rs 34.2 lakh, and digital evidence, including mobile phones, laptops, tablets, hard disks, and memory cards. The agency registered the case under the Indian Penal Code and the Information Technology Act.
After a year of modest returns, equity investors may anticipate gains of 10-15 per cent in Samvat 2082, which began on October 21. Although valuations have moderated from their peaks a year earlier, they remain above long-term averages, potentially limiting sharp upsides.
