Senior citizen placed under ‘digital arrest’ by online fraudsters, forced to pay Rs 14 lakh
Senior citizen placed under ‘digital arrest’ by online fraudsters, forced to pay Rs 14 lakh
Bengaluru Police Arrest Axis Bank Manager and Three Sales Executives in Rs 97-Crore Stock-Market Fraud
The cyber-crime unit has revealed that 254 cases linked to this scam have been registered across the country. Fraudulent transactions totaling Rs 97 crore were conducted through six bank accounts reportedly opened by bank staff.
Markets Tumble: Nifty Falls Below 25,000, Sensex Drops 850 Points from Day’s High as RBI Holds Repo Rate
Indian equity markets faced a turbulent session on October 9, with benchmark indices erasing early gains to close marginally lower. Despite starting the day in positive territory, the indices slipped amid volatile trading after the Reserve Bank of India (RBI) announced its decision to keep key policy rates unchanged.
Paytm focusing on consumer payments business: CEO
Fintech firm Paytm’s immediate priority is to invest in its consumer payments business in an effort to recover lost user base following regulatory actions by the RBI, a top company official said on Sunday.
India’s forex reserves jump $12.588 billion to hit record high of $704.885 billion
India’s forex reserves jumped by $12.588 billion to a new all-time high of $704.885 billion for the week ended September 27, the Reserve Bank said on oCtober 4.
The overall kitty had swelled by $2.838 billion to $692.296 billion in the previous reporting week.
The $12.588-billion surge would be one of the highest weekly rises ever, and this is the first time the reserves have crossed the $700-billion mark.
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Is There a Case for Higher Deposit Insurance Coverage in India?
These institutions were rescued by takeovers or bailouts, but the failures of several smaller cooperative banks remain a persistent issue. One consequence of banking failures abroad, especially in the US, has been a shift of depositor funds from smaller banks to larger, more stable ones, driven by a trust deficit. A similar trend could emerge in India, putting smaller banks under pressure.
Mahindra Finance enters into a co-origination partnership with UGRO Capital
Mahindra Finance and UGRO Capital aim to combine their respective strengths under a co-origination structure where UGRO will leverage its data analytics, distribution network and ground presence.
HDIL’s Rakesh Wadhawan moves NCLT for review of resolution process
In his application, Wadhawan has sought to be allowed to propose a viable revival plan in the CIRP or a one-time settlement in the insolvency process, underscoring that he is interested in the maximization of the resolution value.
KVS Manian takes charge as the new Managing Director & CEO of Federal Bank
Federal Bank has appointed KVS Manian as the new Managing Director & CEO, effective 23rd September 2024. Manian joins Federal Bank after over two and...