Delhi Police arrested a 30-year-old cyber fraudster from Jharkhand for allegedly duping a Delhi resident of Rs 6 lakh under the guise of KYC verification. The accused, Bimal Rabidas, confessed to the crime and was found to be involved in similar cases across multiple states.
Investments under the framework would remain voluntary for employees.
Hyderabad Police have apprehended 66 individuals linked to a nationwide 'ghost' SIM card network, connected to 76 cybercrime cases involving over Rs 101 crore.
The Reserve Bank of India (RBI) has removed the prior approval requirement for non-bank entities to form tie-up arrangements for facilitating outward remittance services through banks in India, aiming to streamline the process and enhance efficiency.
Four individuals, including two bank managers, have been arrested in Telangana for allegedly siphoning off Rs 2.65 crore from a state-owned bank branch in Nalgonda district.
Hyderabad Police Commissioner V C Sajjanar has proposed a Joint Working Group with the RBI and banks to address the issue of mule bank accounts used in cyber fraud. The proposal follows 'Operation Octopus,' which exposed vulnerabilities in KYC verification. Sajjanar also recommended strict directives for banks to fix accountability and adopt advanced technology to detect suspicious transactions.
An EY India report suggests that banks must compete on customer experience and evolve physical branches into phygital advisory hubs. The report highlights the importance of anticipating customer needs and blending digital tools with human interaction.
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.
Hyderabad Police Commissioner V C Sajjanar convened a meeting with bankers to address the misuse of bank accounts in cyber frauds and implement preventative measures, following 'Operation Octopus' which dismantled cyber fraud networks and led to arrests of complicit bank officials.
Delhi Police have arrested two individuals from Jharkhand for allegedly defrauding a 65-year-old man of over Rs 10 lakh through a cyber fraud involving APK files.
State Bank of India has embarked on a drive to cut the Know Your Customer (KYC) process to a single one across its branches, a top official said on Tuesday.
The Enforcement Directorate (ED) has attached properties worth Rs 1.06 crore in connection with the 'Global Media App' fraud, an online earning platform that allegedly generated over Rs 45 crore through illicit means.
A 32-year-old man has been arrested in Delhi for allegedly defrauding a resident of 2 lakh under the guise of selling a second-hand car online. The accused impersonated an employee of a reputable online car sale platform to gain the victim's trust.
Delhi Police have arrested five individuals from Uttarakhand's Udham Singh Nagar for their involvement in an interstate cyber fraud racket. The syndicate supplied mule bank accounts to cyber criminals, routing cheated money from online investment and task-based scams.
Odisha Police have arrested a former banking correspondent for allegedly misappropriating around Rs 27 lakh of depositors' money in Jajpur district.
A 35-year-old bank employee in Delhi has been arrested for allegedly facilitating a cyber fraud racket by opening a bank account using forged documents. The employee misused his position to help fraudsters siphon off money through a fake account, which was part of a larger scheme involving fake investment offers on social media.
The Indian government has announced the replacement of the Mahatma Gandhi National Rural Employment Guarantee Act (MGNREGA) with the Viksit Bharat Guarantee for Rozgar and Ajeevika Mission (Gramin), or VB-G RAM G Act, 2025, effective July 1. The new scheme aims to expand guaranteed wage employment and link it more closely with infrastructure development and climate resilience, but faces concerns from opposition parties and labour rights activists.
'First-time applicants may witness longer approval times or higher rejection rates and requests for more documentation.'
A senior bank executive in Mumbai was defrauded of 97.78 lakh by cyber criminals through a fake share market investment scheme.
Under the new rules, users must take a "live selfie" using software that verifies their presence, typically through eye-blinking or head movement. The measure helps prevent the use of static photos or deepfakes.
A 20-year-old man was arrested for allegedly posing as an employee of a digital payment platform and duping shopkeepers in East Delhi by claiming to check defective sound boxes.
Understand your travel insurance policy before travelling abroad this summer. This article outlines what travel insurance covers, including trip cancellations, missed connections, and medical emergencies, and what it excludes, such as war-related disruptions and pre-existing conditions.
Kapil Chugh, accused of masterminding a Rs 1,825 crore GST refund fraud, has been arrested by DGGI officers upon his return from Dubai. He is alleged to have evaded investigation and is wanted in other economic criminal cases.
The Reserve Bank of India (RBI) has proposed several measures to develop a more conducive framework for the long-term growth of Prepaid Payment Instruments (PPIs), including enhanced transaction security and clearer rules on refunds and grievance redressal.
A 78-year-old woman in Mumbai was defrauded of over 25 lakh after a scammer gained access to her mobile phone under the guise of updating her electricity bill details.
The Indian government has extended the deadline for implementing SIM-binding rules for mobile messaging apps like WhatsApp and Telegram to December 31, following requests from the industry. The Department of Telecom has also relaxed the mandatory six-hour log-out rule for web versions of these apps.
The Reserve Bank of India (RBI) has unveiled draft norms for branch authorisation and business correspondents (BCs), introducing a two-tiered classification for BCs and redefining 'banking outlets' to include BC-Banking Outlets (BC-BOs), aiming to expand formal banking presence, particularly in rural areas.
'It is a tradeoff between convenience and fraud prevention.'
The Indian government has doubled the daily quota of market-priced 5-kg LPG cylinders for migrant workers to ensure stable fuel supplies amidst global disruptions. This move prioritises household cooking gas and addresses the needs of migrant workers who often lack regular connections.
'Many policyholders do not understand that non-medical expenses, cosmetic treatments, and certain other procedures are not covered by health insurance policies.'
Assam police have arrested five individuals for their alleged involvement in an interstate cyber crime syndicate, focusing on SIM card fraud and identity theft.
Dungarpur Police have arrested three individuals involved in an organized gang allegedly siphoning money from life insurance policies using forged documents, with the fraud involving approximately Rs 58 lakh.
Delhi Police have dismantled a major international cyber fraud syndicate, arresting the alleged mastermind and 10 others. The syndicate is linked to over 2,000 complaints and scams worth over Rs 300 crore, with connections to international cyber fraud operations in Cambodia.
Airpay Payment Services has partnered with Maharashtra State Co-operative Bank (MSCB) to enable UPI-based digital payments across the lender's network in Maharashtra, aiming to accelerate financial inclusion in rural areas.
CGST Gurugram busts a large-scale fake GST registration racket operating in North Delhi, involving fraudulent invoices and ITC availment.
'On national security issues, there can be no compromise.'
'Self-declaration from the customer in case of no change in KYC information or change only in the address details may be obtained.'
Haryana's State Vigilance and Anti-Corruption Bureau has filed an FIR to investigate alleged discrepancies involving nearly 150 crore of Panchkula Municipal Corporation funds held in a Kotak Mahindra Bank branch.
An FIR has been filed regarding alleged discrepancies in Panchkula Municipal Corporation's fixed deposit receipts (FDRs) of nearly Rs 150 crore held at a Kotak Mahindra Bank branch, leading to a state-level investigation.
An FIR has been filed regarding alleged discrepancies related to Fixed Deposit Receipts (FDRs) involving nearly Rs 150 crore of Panchkula Municipal Corporation with a Kotak Mahindra Bank branch, leading to a formal investigation.
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