UPI-related frauds have accounted for a cumulative loss of Rs 2,145 crore across 2.7 million reported incidents.
The Trump trade shock is a chance to push long-overdue reforms, rather than tinker with tariffs to appease the US, suggests M Govinda Rao.
Delhi-based electric vehicle (EV) ride-hailing firm Evera Cabs, which grabbed headlines after acquiring 500 cars from the now-defunct cab service BluSmart, is stepping up its presence in the EV cab segment. The company is aiming for revenue of Rs 100 crore in the ongoing financial year (2025-26), up from Rs 18 crore in 2024-25.
French energy giant TotalEnergies SE on Monday said it will make no new financial contribution as part of its investments in Adani group companies till the Indian firm's founder is cleared of bribery charges. The energy giant said it was not aware of the investigation into the alleged corruption. TotalEnergies is one of the biggest foreign investors in billionaire Gautam Adani's business empire and had previously taken stakes in the group's renewable energy venture Adani Green Energy Ltd (AEGL) and city gas unit Adani Total Gas Ltd (ATGL).
When Gensol Engineering made its public market debut through a small and medium enterprises (SME) initial public offering (IPO) in September 2019, its promoters held a commanding 96 per cent stake. Now, that figure has shrunk to a "negligible" fraction.
'The central bank has highlighted that the slowdown in growth has been limited to a few sectors and overall growth is expected to pick up in the second half of the year.'
The Enforcement Directorate said on Monday that it had conducted search operations at four locations in Mumbai and Delhi as part of its money laundering investigation into an alleged Rs 4,500 crore (Rs 45 billion) fraud by Pancard Clubs Limited and others, in which more than 5 million investors have been duped.
A strong demand was made in the Lok Sabha to eliminate online betting and gambling applications. YSRCP member Maddila Gurumoorthy urged the government to set up a dedicated task force to take action against betting and gambling apps. He also asked the government to draft regulations for such applications and launch awareness campaigns about the dangers of online betting. Other issues raised included deposit insurance coverage for bank depositors, representation of Scheduled Castes in the Kerala government, challenges faced by nurses, and the need for paramilitary forces in Jharkhand during upcoming Hindu festivals.
The senior IPS officer said that 45 percent of cyber financial frauds taking place in the country are originating from the South East Asia.
Here's what you must know about the new rule, its implications, and whether it affects taxpayers' rights and privacy.
AI-driven and deepfake-enabled cyberattacks are anticipated to become increasingly prevalent in 2025 with sectors like healthcare and finance most prone targets, according to a recent report. The India Cyber Threat Report 2025 by the Data Security Council of India (DSCI) and Seqrite, spotlighted the evolving tactics of cybercriminals and the rise of AI-driven attacks as a major concern. "Artificial Intelligence (AI) will be used to develop highly sophisticated phishing campaigns utilising deepfake technology and personalised attack vectors, making them harder to detect.
The co-operative banking sector is well regulated, and a few cases of restrictions being imposed by the Reserve Bank of India (RBI) should not paint a negative picture of the entire sector, said Department of Economic Affairs (DEA) secretary Ajay Seth on Monday. "Co-operative banks in the country are generally quite robust, and the RBI takes regulatory action whenever issues arise.
This case is the largest investigated by the Pandemic Response Accountability Committee Fraud Task Force to date, US Attorney for the Northern District of Texas Leigha Simonton said in a press release.
Coming against the backdrop of rising incidence of financial frauds, the proposed prediction model would bolster SFIO's capabilities in detecting misdoings at the initial stage itself.
With a view to protect prudent commercial decision of bankers, the government has taken a slew of decisions, including doing away with personal responsibilities of MD and CEO of PSBs for compliance in dealing with large value frauds committed by bank officials.
'The first and most basic responsibility of any government is to protect its people from external threats and internal harm.' 'Budget 2025-2026 has to focus on meeting this responsibility,' asserts R Jagannathan.
A new cyber fraud known as 'pig butchering scam' or 'investment scam' has emerged, targeting unemployed youths, housewives, students, and needy people who are made to lose large sums of money daily, according to the latest annual report of the Union home ministry.
Activist short-seller Nathan Anderson, known for his high-profile campaigns against the likes of Adani Group, said he is closing his firm, Hindenburg Research, not because of any threat -- legal or otherwise -- and that he stands by all its reports.
'While the current pause offers temporary reprieve and alleviates any immediate legal pressure, the long-term implications remain uncertain.'
About 60 per cent of Indian private insurers believe there has been a significant rise in insurance-related frauds, and as risks lurk there is an immediate need to consider a proactive fraud risk management framework, a Deloitte survey said on Thursday. Insurance companies in India have experienced a rise in fraud instances in life and health insurance, and increased digitisation, remote working post pandemic and weakened controls are key factors contributing to frauds, according to Deloitte's Insurance Fraud Survey 2023. "About 60 per cent of survey respondents believe that there has been a significant rise in fraud, while further 10 per cent experienced a marginal increase," the survey said.
Fitch Ratings has removed energy infrastructure company Adani Energy Solutions Ltd (AESL) from its 'Ratings Watch Negative' list, the first upgrade by an international ratings agency since the US indictment. Fitch affirmed AESL long-term foreign and local-currency issuer default ratings (IDRs) at 'BBB-'.
Backing embattled Adani Group, rating agency CRISIL Ratings on Friday said the conglomerate has sufficient liquidity and operational cash flows to meet debt obligations and committed capex and that there has been no negative actions so far by lenders and investors following the US indictment of group founder chairman. The Adani Group, which has the flexibility to reduce certain discretionary capital expenditure (capex) depending on developments in financial markets and future capital availability, has a healthy Ebitda and cash balance that reduces its dependence on external debt to sustain operations, it said in a bulletin.
All that you must know about the pros and cons of gift deeds, tax implications, essentials, documents required, conditions, etc...
To educate customers on the modus operandi of financial fraudsters and share inputs on safe banking habits, banks are now coming up with awareness campaigns aimed at preventing customers from falling into the trap of fraudsters.
Gautam Adani, India's second-richest man, and seven others including his nephew Sagar have been charged with paying bribes to unidentified officials of state governments in Andhra Pradesh and Odisha to buy expensive solar power, potentially earning more than $2 billion profit over 20 years.
'Probably revised guidelines will come, and then the real picture will emerge.'
Aryan Anand had submitted fake and falsified documents to secure admission into Lehigh University, a private research university in Pennsylvania for the 2023-2024 academic year.
The Central Bureau of Investigation, probing the Satyam financial fraud, arrested three employees including a top executive of the IT firm on Sunday, said CBI deputy-inspector general V V Lakshmi Narayana.
Capital market regulator Sebi on Tuesday rejected the competing open offer made by the US-based entity Danny Gaekwad Developments & Investments for acquisition of Religare Enterprises Ltd (REL) as it did not meet necessary regulations.
'I don't know when I will be able to access those funds.'
Out of all the reported digital payment frauds in India, over half (55 per cent) were United Payments Interface (UPI)-related, a new report released on Tuesday revealed. Another 18 per cent are card related, 12 per cent are related to internet banking and nine per cent are from phishing calls. Most of the UPI-related frauds, however, have a low ticket size.
Will allowing business correspondents to hawk insurance products help in reviving 5-lakh strong field agents as a viable channel?
As part of its efforts to strengthen customer protection, Reserve Bank is considering setting up a fraud registry to create a database of fraudulent websites, phones and various modus operandi used for digital fraud. Such a database will help prevent these fraudsters from repeating the fraud as the websites or phone numbers would be blacklisted, RBI executive director Anil Kumar Sharma said on Monday. "There is no definite timeline for setting up of the fraud registry.
With the US filing civil and criminal charges against billionaire Gautam Adani and seven others over a multi-million-dollar bribery scheme, a prominent attorney here has said that the case could escalate significantly, potentially leading to arrest warrants and even extradition attempts. Adani, India's second-richest man, and seven others, including his nephew Sagar Adani, have been charged by the US Department of Justice with paying bribes to unidentified officials of state governments in Andhra Pradesh and Odisha to buy expensive solar power, potentially earning more than $2 billion in profit over 20 years.
The financial fraud, one of the biggest in the state as per records, was being investigated by the different departments of Himachal Pradesh for the past over four years.
The Burman family, which had made an open offer in September to acquire Religare Enterprises' control, in a statement said: "We are surprised and disappointed at these allegations." Burmans said it will move towards closing the transaction "expeditiously", working with all the regulators.
Private sector banks in India are taking the lead in the adoption of Artificial Intelligence (AI) in areas like fraud detection, customer segmentation, and chat automation, according to a Reserve Bank of India (RBI) study. The asset size and capital adequacy ratio are influencing the rate of adoption.
The size of Reserve Bank's balance sheet increased by 11.08 per cent to Rs 70.47 lakh crore as on March 2024, leading to the highest-ever dividend payout to the government, according to the central bank's annual report. In actual terms, the increase was Rs 7,02,946.97 crore over Rs 63.45 lakh crore as on March 2023.
Unprecedented bribery charges, farewells, separation, failed union, monumental mergers and record-breaking IPOs, along with a healthy dose of online happenings in the form of spat and lessons in customer care, corporate India saw it all in 2024.
"Less than two week back, we faced a set of allegations from the US about compliance practices. This is not the first time we have faced such challenges. What I can tell you is that every attack makes us stronger," he said addressing the 51st Gems and Jewellery Award in Jaipur.
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