Reserve Bank of India (RBI) Governor Shaktikanta Das said on Friday said the central bank has developed an innovative artificial intelligence and machine learning (AI/ML) based model MuleHunter.ai to address the growing issue of mule bank accounts that are often used for committing financial fraud. Developed by the Reserve Bank Innovation Hub, the new initiative is piloted with two public sector banks.
Even as Sebi officials are quizzing Satyam Computer founder B Ramalinga Raju and his brother Rama Raju at the Chanchalguda jail here, the Andhra Pradesh police are likely to make more arrests in the Rs 7,800-crore fraud involving the IT major.
Bengaluru police recovered Rs 14 lakh lost by BJP MP's wife in a cyber fraud through 'digital arrest'.
The probe agency found irregularities in loans amounting Rs 3,642 crore sanctioned by Yes Bank to the travel firm.
Efficient use of data and a great sense of timing are two things that stand out in the Sebi whole-time member's order in the matter of Reliance Petroleum
The Supreme Court has warned that it will set aside the special intensive revision (SIR) of electoral rolls in Bihar if any illegality is found. The court is reviewing the validity of the Bihar SIR and its potential impact on a similar exercise across India.
'Instead of the government and telecom operators solving the mess of their own creation, they're telling us we need to give access to our phones perpetually.'
Pune police have arrested a Telangana-based electronics engineer for an alleged online fraud with a private university of Rs 2.46 crore.
The Supreme Court has expressed serious concern over the rising cases of digital arrest cybercrime in India, where fraudsters extort money from victims by posing as law enforcement officials. The court has vowed to deal with such cases with an iron hand and has sought reports from the Ministry of Home Affairs and the CBI.
Congress leader Rahul Gandhi has accused the Election Commission of failing to uphold the 'one man, one vote' principle, citing irregularities in voter lists. He claims the issue is widespread and systematic, with the opposition protesting the Election Commission's voter roll revision in Bihar.
The reduction in goods & services tax (GST) on individual life and health insurance premiums has been called a "landmark step" for making insurance affordable and inclusive. In a panel discussion at the Business Standard BFSI Insight Summit 2025, Anup Bagchi, managing director (MD) & chief executive officer (CEO) of ICICI Prudential Life Insurance; Mahesh Balasubramanian, MD & CEO of Kotak Life Insurance; Tarun Chugh, MD & CEO of Bajaj Life Insurance; and Ratnakar Patnaik, MD of Life Insurance Corporation of India (LIC), listed what else the industry needs to reach more people.
The CBI has arrested Mani M. Sekhar in a Rs 8 crore bank fraud case from Indore after a nearly two-decade manhunt.
Lawful possession means having both actual control over a property and a valid legal right to keep it, usually based on a registered sale deed, lease agreement, or lawful allotment.
In a relief for Amar Singh, the Uttar Pradesh police has submitted a closure report in a district court in Kanpur in the three-year-old fraud and embezzlement case against the Rajya Sabha MP, citing lack of evidence.
A phone number and e-mail are often enough for a fraudster to trick a lender into pulling your report and disbursing a loan.
The Uttar Pradesh government has handed over the case against Samajwadi Party leader Amar Singh and others for alleged financial fraud amounting to Rs 500 crore to the Economic Offences Wing of the state police, official sources said.
Karnataka Minister Priyank Kharge alleges that Form 7 was misused under the previous BJP government to delete voters 'en masse' ahead of the May 2023 Assembly polls. He claims a large-scale voter deletion attempt was made in the Aland constituency, targeting Congress supporters, especially Dalit and minority voters.
A grocery store owner in Bulandshahr alleges his PAN card was misused to set up six companies in Delhi after receiving an Income Tax notice for sales exceeding Rs 141 crore.
A human trafficking racket spanning multiple states has been busted with the arrest of three persons in connection with the sale of a young girl from Meghalaya and her forced marriage in Rajasthan. Several other young women from the Northeast are believed to have met the same fate.
As per the existing norms, a player undergoes a bone test for age determination via the TW3 method (test used for assessing bone age) and a +1 factor is added to determine his or her eligibility for the next season in the same age group.
The Lucknow police have uncovered a cheating racket that mimicked the style of exam fraud seen in the first Munnabhai film, where real candidates were replaced by professional impersonators to sit for competitive exams.
Mint Road's proposals on banks' M&A funding are cautious even as entrants root for more elbow room, and weigh business models.
Avoid donating without checking the receipt proforma showing the political party's ECI registration number and PAN.
'A mule operates someone else's account to transfer illegal money.'
The accused -- Lemos, his wife Valany and Ryan D'Souza -- were convicted on Sunday by the Dubai Misdemeanours Court in the 515 cases filed against them
"We did not know that a CBI inquiry was requested on our behalf regarding the Karur tragedy. It has been nine years since my husband Panneerselvam, who had signed the petition, abandoned us," says Sharmila, mother of the 9-year-old boy who had lost his life in the stampede during a political rally addressed by actor-politician Vijay.
Following the arrest of fugitive businessman Mehul Choksi by Belgian authorities on Saturday, Vaibhav Khuraniya, one of the complainants in a fraud case against Choksi, said that it may not be easy to bring him back to India due to legal complexities involved in extradition.
The diamantaire's counsel said there is a vigilance manual circular that the consortium can lodge only one FIR. Each consortium member cannot lodge separate FIRs, he said.
Chauncey Billups, an NBA Hall of Fame player and head coach of the Portland Trail Blazers, and Terry Rozier, a guard with the Miami Heat, were among more than 30 people charged on Thursday.
Without naming either the alleged kingpin of the fraud, billionaire jeweller Nirav Modi, or Punjab National Bank, Jaitley questioned the ethics of some businesses in the country and asked as to why the bank's internal and external auditors could not detect the fraud which had been going on for 7 long years.
The Supreme Court has ordered a CBI probe into the Karur stampede, prompting varied reactions from political parties. DMK claims misrepresentation in the petition, while AIADMK sees the decision as a setback for DMK. Other parties express their views on the investigation and its implications.
The loss followed a massive fraud allegedly committed by Shivaraj Puri, a relationship manager at the bank's Gurgaon branch.
The fraud is alleged to have caused a Rs 65 crore loss to the Brihanmumbai Municipal Corporation (BMC).
The Supreme Court has requested the Election Commission to respond to petitions challenging the Special Intensive Revision of electoral rolls in Tamil Nadu and West Bengal. The court has also asked the Madras and Calcutta High Courts to keep proceedings on similar petitions in abeyance.
Most of the legal cases in the UK are switching to videolink and telephonic options where possible, with all new jury trials suspended amid the social distancing rules in place to combat the COVID-19 pandemic.
PNB issued a formal appointment letter to Belgium-based consultancy firm BDO
'Everyone involved in this transaction must be punished and penalised.'
India is working closely with Belgium to extradite fugitive diamantaire Mehul Choksi, who was arrested in Antwerp on Saturday based on a formal request from the Indian government. Choksi is wanted by Indian probe agencies in connection with a Rs 13,500-crore bank loan fraud case involving the Punjab National Bank (PNB). His nephew, Nirav Modi, is also facing extradition proceedings in the UK.
Lata Ramgobin, who is the daughter of noted rights activists Ela Gandhi and late Mewa Ramgobind, was also refused leave to appeal both the conviction and the sentence by the Durban Specialised Commercial Crime Court.
The prosecution has alleged that the victim, also an actor, was induced into a relationship by Khan.
