Punjab Police busted a fake currency module in Malerkotla, arresting four individuals and seizing counterfeit currency worth Rs 5.50 lakh.
The Indian rupee is highly vulnerable among Asian currencies, with Barclays and MUFG warning of a potential depreciation towards 100/$ if the West Asia conflict persists, driven by widening current account deficits and elevated crude oil prices.
A Bank of Baroda employee in Ahmedabad has been arrested for allegedly stealing Rs 8.7 crore from an RBI currency chest and laundering the money into properties and cryptocurrency.
Indore police seized 566 bundles of fake Rs 500 notes from abandoned bags. Only 84 notes were genuine, with the rest being plain paper designed to resemble currency. An investigation is underway to determine the source and intended use of the fake notes.
Two men were arrested in Dakshina Kannada district, Karnataka, and counterfeit currency notes with a face value of Rs 2.38 lakh were seized from them, police said.
Delhi Police have arrested two men for allegedly defrauding a tour operator of Rs 1 lakh using fake currency notes under the guise of a currency exchange scheme.
Hamirpur Police arrested two individuals involved in a counterfeit currency racket after a shopkeeper was defrauded. The suspects, using fake Rs 200 notes to obtain genuine Rs 500 notes, were identified through CCTV footage and ITMS. Police recovered counterfeit notes and are investigating further.
Police in Bahraich, Uttar Pradesh, have arrested four individuals involved in printing and circulating counterfeit currency. The suspects were apprehended with fake notes and a colour printer used in the operation.
A 50-year-old man was arrested in Sambhal, Uttar Pradesh, for possessing counterfeit Indian currency notes. Police recovered Rs 20,000 in fake currency and are investigating the source and any accomplices.
Police in Aligarh have recovered incriminating materials, including live cartridges and suspected fake currency, from a room in an Aligarh Muslim University hostel. The raid followed a tip-off and is linked to an ongoing investigation into a recent shooting incident.
US President Donald Trump's signature will soon appear on US paper currency, coinciding with the 250th anniversary celebrations of American Independence.
A yoga teacher from Surat and six others have been arrested in Ahmedabad for circulating fake Indian currency notes (FICN). Police estimate they may have circulated Rs 10 to 12 lakh in counterfeit money.
Police in Thane, India, seized firearms, weapons, and counterfeit currency from the home of a known criminal, Surendra Pandurang Patil, during a raid.
Ahmedabad police have seized counterfeit Indian currency with a face value of 2.38 crore and arrested seven individuals, including a yoga teacher from Surat. The operation uncovered the use of AI and e-commerce platforms to produce and distribute the fake notes.
Cash remains dominant for many transactions despite continued expansion in digital payments across the country.
A joint operation by Nepal and West Bengal police has led to the arrest of seven individuals and the seizure of counterfeit currency worth approximately Rs 70 crore from a flat near Kolkata.
A 35-year-old man from Thane district was allegedly cheated of Rs 2 lakh in a US dollar exchange fraud in Navi Mumbai. The victim was shown bundles appearing to contain US currency, but they turned out to be paper rolls and soap bars.
Eight people have been arrested for posing as police officers and robbing a man of 5,000 in a currency exchange scam near Kalyan railway station.
India's foreign exchange reserves saw a significant drop of USD 8.094 billion, settling at USD 688.894 billion for the week ending May 15, as the Reserve Bank of India intervened in the forex market and global events like the Middle East conflict impacted the rupee.
The Indian rupee depreciated 16 paise to settle at a fresh lifetime low of 96.86 against the US dollar, marking its ninth consecutive session of decline, driven by elevated global crude prices and a strong dollar.
The Indian rupee rebounded 50 paise from its all-time closing low to settle at 96.36 against the US dollar, driven by retreating crude oil prices, signs of easing geopolitical friction, and likely central bank intervention.
A Nigerian national was arrested in Delhi by the Uttar Pradesh STF for allegedly creating fake profiles of US and UK citizens on social media and cheating victims on the pretext of sending expensive gifts and foreign currency.
Indian benchmark indices Sensex and Nifty closed lower, snapping a two-day rally, as a spike in crude oil prices, triggered by reports of fresh US military operations in southern Iran, dampened investor sentiment and reignited fears of renewed energy supply disruptions.
Haryana health officials busted an alleged illegal sex determination operation at Aayu Hospital in Gurugram, leading to the arrest of a radiologist and the sealing of an ultrasound machine.
India's foreign exchange reserves saw a significant increase of USD 6.295 billion, reaching USD 696.988 billion for the week ending May 8, as reported by the Reserve Bank of India.
Faridabad police have arrested a husband and wife from Mumbai for allegedly defrauding people of approximately Rs 31 crore through fraudulent investment schemes in forex trading and film production.
The Securities and Exchange Board of India (Sebi) has proposed a new framework to manage strike prices for options contracts, aiming to ensure continuous availability of suitable contracts even during sharp intraday market swings. This move addresses concerns that extreme price movements can leave traders without appropriate options for hedging or positioning.
'With inflationary pressures now at elevated levels and the adverse cost environment persisting, the company has to pass on a portion of the increased costs to the market, while continuing to ensure that the impact on customers is kept to the minimum extent possible.'
The central bank is yet to consider actions such as a rate hike or mobilising dollar inflows from non-resident Indians to boost forex reserves as it cannot afford to continue with them for long when the rupee's internationalisation tops its agenda, explains Tamal Bandyopadhyay.
Pharmaceutical major Cipla reported a 3 per cent year-on-year decline in March quarter revenue to Rs 6,541 crore, with net profit falling 55 per cent to Rs 554.6 crore, missing consensus estimates. Despite strong growth in India and Africa, a significant decline in North American sales impacted overall performance, with the company now focusing on new product launches and regulatory filings to drive future gains.
India's organised gold jewellery retail sector is projected to experience a 13-15 per cent year-on-year decline in sales volumes this fiscal, following an 8 per cent drop last year, due to elevated gold prices and a recent import duty hike, according to a Crisil report.
The Indian rupee plummeted to an all-time low of 95.80 against the US dollar, settling at 95.66, driven by elevated crude oil prices and escalating geopolitical tensions in West Asia, despite potential RBI intervention and import curbs on gold.
A State Bank of India report indicates a sharp increase in precautionary cash holding in India, with the gap between per capita currency in circulation and ATM withdrawals widening significantly, driven by global uncertainties despite record digital payment transactions.
Indian benchmark indices Sensex and Nifty experienced a significant slump in early trade, mirroring weak global trends, as escalating tensions in West Asia, particularly a drone attack on the UAE's Barakah nuclear facility, pushed crude oil prices higher. Track Sensex, Nifty50 movement and key market drivers for May 18, 2026.
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.
An inquiry committee investigating allegations against Justice Yashwant Varma, concerning unaccounted cash found at his residence, has submitted its report to the Lok Sabha Speaker. The report will be presented to both Houses of Parliament during the Monsoon Session.
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.
India's foreign exchange reserves saw a significant drop of USD 7.794 billion, settling at USD 690.693 billion for the week ending May 1, as reported by the RBI, reflecting the impact of global events and central bank interventions.
Analysts predict that the ongoing US-Iran conflict, fluctuations in crude oil prices, and foreign institutional investor (FII) flows will be the primary factors influencing Dalal Street this week, with inflation concerns adding to investor anxiety.
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