The Enforcement Directorate (ED) and Income Tax (I-T) Department are likely to join the Assam Police in investigating alleged organised financial crimes and acquisition of benami properties by event manager Shyamkanu Mahanta, an accused in the death of Assam's cultural icon Zubeen Garg.
The case pertains to a bank guarantee of Rs 68.2 crore submitted to the Solar Energy Corporation of India Limited (SECI) on behalf of Reliance NU BESS Limited, a subsidiary of Reliance Power, a listed company, which was found to be "fake".
When and how you can access EPF money before retirement without jeopardising your long-term retirement savings.
'There is a debit execution failure which is because there is not enough money in the user's bank account.'
'I need 3-4 lakhs for the wedding. All prospective grooms demand a motorcycle which costs 1 to 1.5 lakhs, then you have to also give a bed, cupboard, utensils, fridge,' says Kamala, her wrinkled forehead furrowing with despair.
Batting for further consolidation in public sector banking, the executives of top public sector banks (PSBs) said there should be at least two Indian banking entities among the top 20 global banks.
By enabling real-time data sharing, the platform will help prevent scams and ensure secure transactions.
The Reserve Bank of India's (RBI's) draft guidelines on gold loans, if implemented in their current form, are expected to impact non-banking financial companies (NBFCs) and mid-tier banks in the near term, more significantly than larger banks, according to analysts.
Reserve Bank of India (RBI) Deputy Governor Swaminathan J criticised some non-banking financial companies (NBFCs) for lax loan appraisal practices and charging excessive interest rates, even as he acknowledged the sector's rapid expansion over the past decade, especially in recent years. "Unfortunately, some NBFCs seem to believe they can operate with weak underwriting in the pursuit of fast growth while levying excessive and unsustainable interest rates - sometimes disguised as upfront or processing fees - followed by aggressive recovery methods in case of default," Swaminathan said at the conference of NBFCs in Chennai last month.
The 100 per cent withdrawal provision and the 25 per cent minimum balance provision have led to some confusion.
Voters are weighing a stark trade-off -- between preserving a socially driven policy and reversing course to revive revenue, restore fiscal balance, and rein in the underground liquor economy.
State Bank of India has 18,000 pending cases and Bank of Baroda has around 1,000 cases.
The story of Bihar's educational reform is a lesson for all reforms done halfway.
Two teenage male friends, one of them a minor, have allegedly been stripped and forced to indulge in unnatural sex by some persons over non-payment of money in Mumbai, police said on Tuesday.
When illness strikes, this cover cushions the fall -- guarding health, finances, and the family's fragile future
'Always keep accurate and transparent records of the source of the investment or property's funding: Loan agreements, transfer records of the property, and bank statements of co-owners if available.'
The complaint, filed by businessman Deepak Kothari, director of Lotus Capital Financial Services Ltd, claims the incident took place between 2015 and 2023. Kothari alleged that the couple took the money under the pretext of expanding their business but used it for personal expenses instead.
Senior advocate Abhishek Manu Singhvi, representing Sonia Gandhi, argued that the Enforcement Directorate's National Herald case is 'truly a strange' one, citing the absence of property or its use in the alleged money laundering.
The case pertains to the Andaman Nicobar State Cooperative Bank (ANSCB) and its former vice chairman Kuldeep Rai Sharma. Sharma, a 57-year-old Congress leader, is a former MP of the UT (2019-24).
The ED probed 30 cases between August 2024 and March 2025, during which it recovered 15,261 crore, mostly from cases related to bank frauds.
Last fortnight, State Bank of India Chairman C S Setty lifted the veil on a subject long spoken of in corporate corridors: Why can't our banks finance mergers and acquisitions (M&As)? Change is in the air: Indian Banks' Association (of which Setty is the chairman) is to "make a formal request" to Mint Road to make way for it. Thus far the exclusive turf of foreign banks even though its funding remains offshore - as in, it's not on these entities rupee-book (and a few select shadow banks) - a most lucrative segment in the investment banking suite, M&As, will be homeward-bound.
Ask rediffGURU Reetika Sharma your insurance mutual fund and personal finance-related questions.
rediffGURU T S Khurana answers readers' personal income tax queries
The Enforcement Directorate has summoned Reliance Group Chairman Anil Ambani for questioning in a money laundering case linked to alleged bank loan fraud.
The Bombay high court has upheld a decision by the State Bank of India (SBI) to classify accounts of industrialist Anil Ambani and his company, Reliance Communications (RCom), as "fraudulent" noting that there was no legal flaw in it.
CPGRAMS -- an online platform available to citizens 24x7 to lodge their grievances to public authorities on service delivery -- has existed for close to two decades. But it has never been this active, points out Tamal Bandyopadhyay.
India registered its protest at the board of IMF, which met on Friday to review the EFF lending programme for Pakistan.
This follows an earlier incident on May 22, 2025, in which a large quantity of drugs was seized near the Nungambakkam railway station, according to a Greater Chennai Police press release.
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.
Most think tax-saving deductions exist only in the old regime. But the New one quietly retains 40+ ways to ease your tax load
An accused is discharged at the stage of charge-framing when the judiciary is persuaded that the prosecution's claims do not contain adequate prima facie evidence to suggest criminal conduct.
The Supreme Court's ruling in the BPSL case exposes deep flaws in the IBC's institutional framework and raises concern about judicial overreach, notes Rajeswari Sengupta.
A team from Britain's Crown Prosecution Service (CPS) recently visited Tihar Jail to assess prison conditions for the extradition of high-profile economic offenders such as Nirav Modi and Vijay Mallya.
The Reserve Bank of India (RBI) on Wednesday met the long-standing demand of banks by allowing them to finance acquisitions by Indian companies, a move that also expands banks' capital market lending in the country.
Ask rediffGURU and tax expert Mihir Tanna your income tax-related questions.
The GenZ violence that engulfed Nepal is not only against nepo-babies -- its anger is broader and riddled with contradictions, making it difficult for interim PM Sushila Karki, points out Aditi Phadnis.
'The kids are already used to this place. We go back and that's a different environment.' 'So, mentally, emotionally we are stressed.'
File a written complaint with the bank's grievance redressal officer and secure an acknowledgement.
"We currently manage collections for over 98 million retail and small-business loan accounts, covering a loan book of about $250 billion," says Rishabh Goel, cofounder and chief executive officer (CEO) of Credgenics, a software-as-a-service platform for debt collection. With more than 700 million smartphone users and over 450 million UPI users, digital access is everywhere.
'I realised why the farmers and the rural folks are going for Trump. They are so insecure and vulnerable that anybody who is throwing a line of hope to them, they seize it.'
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