Priyadarshini Maji evaluates the impact that payment banks are likely to have on your financial life.
Grandmaster Abhijeet Gupta is struggling to receive his prize money from the Odisha Open, prompting him to seek intervention from the Sports Ministry after repeated assurances from organisers yielded no payment.
'First-time applicants may witness longer approval times or higher rejection rates and requests for more documentation.'
Jharkhand Police have arrested the prime accused in a fraudulent withdrawal case from the West Singhbhum treasury, along with three others. The accused manipulated departmental computer data for nearly nine years to divert government funds into their own accounts and those of associates.
The government plans to expand its central bank digital currency (CBDC)-based food subsidy programme to Chandigarh, Dadra and Nagar Haveli, and Daman and Diu by June, following its implementation on a pilot basis in Gujarat and Puducherry, official sources said.
Delhi Police have dismantled an interstate cyber fraud syndicate, arresting 14 individuals allegedly involved in fraudulent transactions exceeding Rs 8 crore. The accused targeted job seekers with fake work-from-home opportunities via social media and job portals.
Hampton Sky Realty Limited, formerly directed by Punjab minister Sanjeev Arora, has issued a statement asserting its innocence and cooperation with authorities following the arrest of Arora in connection with a money laundering probe.
Delhi Police have arrested four individuals in connection with a daylight robbery near Azadpur Mandi, recovering a car purchased with the stolen money. The arrests followed an inter-state manhunt across Uttar Pradesh.
'Even last year, when India bought gold, the physical quantity was much less than the previous years.'
Seven women, including two wives of an accused peon, have been arrested in connection with an alleged embezzlement of Rs 5.5 crore from the District Inspector of Schools office in Pilibhit, officials said on Saturday.
Preferential equity listings in India reached an unprecedented 1,307 in FY26, marking a 33% increase from the previous year and reflecting a strategic choice for companies during market volatility.
Telenor Financial Services, IDFC Bank and Sun Pharma's Dilip Shanghvi have decided to withdraw their licence to set up a payments bank.
The Federation of Indian Export Organisations (FIEO) has appealed to the Reserve Bank of India (RBI) for liquidity support to Indian exporters, citing a significant increase in freight costs and extended payment cycles due to the ongoing West Asia conflict.
A 61-year-old man from Mangaluru was allegedly cheated of Rs 2.07 crore by cyber fraudsters posing as officials of central investigative agencies in a 'digital arrest' scam, police said.
Delhi Police have dismantled a cyber fraud racket based in Mewat, arresting four individuals for allegedly impersonating Indian Air Force officials and defrauding businessmen using forged documents.
Delhi Police have arrested a man from Maharashtra for allegedly cheating a Delhi resident of Rs 9.25 lakh on the pretext of arranging a visa and overseas job.
Vodafone Idea, the promoter of Aditya Bira Idea Payments Bank, said in a notification to the exchanges late on Friday that the board of the bank approved winding up the business, subject to approval from the Reserve Bank of India.
Fintech firm One97 Communications on Thursday said its subsidiary Paytm Payments Services Limited (PPSL), has received authorisation from the Reserve Bank of India to operate as a Payment Aggregator for physical (offline) payments and cross-border transactions.
Delhi Police have arrested 11 individuals, including two alleged masterminds, after uncovering a fraudulent call centre in Govindpuri, South Delhi. The operation, known as Herbitecture Healthcare, reportedly deceived people nationwide by promoting weight-loss products on social media and enticing customers into making repeated payments.
The central bank gave 11 entities licences to start payments banks.
Two cyber fraudsters have been arrested for allegedly defrauding a resident of East Delhi of over 20,000 by posing as electricity officials.
Mumbai Police have arrested a man for allegedly defrauding a senior executive of over Rs 60 lakh under the guise of cryptocurrency investment.
India emerged reasonably well from 2025. But now, the oil shock and war-related supply disruptions have again driven funds out of India and significantly weakened the rupee, points out Ajay Chhibber.
'Statutory power must be exercised in a manner that is fair, proportionate, and not excessive.' 'The authority must demonstrate a rational nexus between the property frozen and the alleged offence.'
Unified Payments Interface (UPI) transactions in India reached a record high in March, with 22.64 billion transactions, marking a significant increase from the previous year and highlighting the growing adoption of digital payments.
A Delhi court has convicted Congress MLA Rajendra Bharti and a former bank employee in a case involving cheating and forgery of bank records to illegally obtain interest payments.
From the financial year 2025-2026, the government has introduced a new column in the tax return form for presumptive taxpayers, requiring them to disclose their year-end investments. This requirement was not present last year.
Unified Payments Interface (UPI) transactions in India reached a record high in March, driven by increased adoption and global expansion. The system now accounts for 85% of digital transactions in India and is live in eight countries.
The RBI on Friday asked Paytm Payments Bank to stop opening new accounts amid "material supervisory concerns" observed in the bank. "Reserve Bank of India has today, in exercise of its powers, inter alia, under section 35A of the Banking Regulation Act, 1949, directed Paytm Payments Bank Ltd to stop, with immediate effect, onboarding of new customers," the central bank said in a statement. The bank has also been directed to appoint an IT audit firm to conduct a comprehensive system audit of its IT system.
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.
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.
India should not stay on the margins of this initiative. There should be a serious debate about what would be in India's best interests asserts former foreign secretary Shyam Saran.
A senior citizen in Navi Mumbai was allegedly swindled of 64 lakh over four years by cyber fraudsters posing as insurance regulators and grievance officials.
The Employees' Provident Fund Organisation (EPFO) is set to introduce UPI-linked withdrawals by the end of May, as it finalises testing for its Centralised IT Enabled System (CITES) 2.0 overhaul, aiming to streamline PF balance transfers and withdrawals.
One 97 Communications Ltd, operating under the Paytm brand, has transitioned to a majority Indian-owned and controlled company, reflecting increased domestic investor confidence and improved financial performance.
A software engineer earning a high salary allegedly abandoned his career to run a fake online trading racket, duping investors of nearly Rs 100 crore.
Haryana Chief Minister Nayab Singh Saini released over 2,115 crore directly into the bank accounts of beneficiaries under various welfare schemes, benefiting over 58 lakh eligible individuals.
'...even though the investigation in the matter is ongoing, we have paid 100 per cent of the principal and interest to relevant departments of the Haryana government.'
Police in Nellore district, Andhra Pradesh, have busted an organised online cricket betting racket, arresting 12 people and seizing cash, mobile phones, and a television. The syndicate operated through online platforms, using multiple bank accounts and PhonePe numbers for fund transfers.
Delhi Police have arrested two men in connection with separate cyber investment fraud cases involving over Rs 74 lakh. The accused were involved in luring victims into investing in fake stock trading and IPO platforms.
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