HDFC Bank CEO's Shock Resignation Baffles Investors
HDFC Bank's stock plunged sharply as CEO Atanu Chakraborty resigned abruptly citing 'ethics,' with management denying any material issues, leaving global investors perplexed.
Category : Banking
CBDT Launches PRARAMBH for New Income Tax Act Rollout
The CBDT has launched the PRARAMBH outreach initiative to ensure a taxpayer-friendly transition to the new Income Tax Act 2025, effective April 1, 2026, with simplified rules and AI support.
Rs 20,000 Crore Credit Guarantee Scheme for MFIs Approved
The Indian government has launched a Rs 20,000 crore credit guarantee scheme to ease funding for microfinance institutions, addressing NPAs and liquidity challenges with capped interest rates and tenure limits.
JPMorgan Uses IT Data to Monitor Junior Bankers' Working Hours
JPMorgan Chase has launched a system comparing junior bankers' self-reported hours with IT data like keystrokes and video calls, aiming to enhance transparency and well-being amid industry-wide scrutiny of overwork.
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CBDT Notifies Simplified Income Tax Rules Effective April 1
The Central Board of Direct Taxes has officially notified the Income-tax Rules, 2026, implementing the simplified direct tax legislation approved by Parliament last year, effective from April 1, 2026.
CBDT Notifies Income Tax Rules 2026, Effective April 1
The CBDT has notified the Income-tax Rules, 2026, effective from April 1, 2026. Key changes include higher PAN thresholds for transactions, enhanced HRA benefits, and stricter regulations for crypto and capital gains.
Rupee Falls 82 Paise to 93.71 vs Dollar on Oil, Risk Aversion
The Indian rupee depreciated sharply by 82 paise to close at 93.71 against the US dollar on March 20, 2026. Forex traders attribute the decline to soaring crude oil prices and heightened risk-aversion sentiment among global investors.
Equitas SFB & Times Prime Host Dhurandhar 2 Purple Carpet Premieres
Equitas Small Finance Bank and Times Prime organized exclusive Purple Carpet premieres for 'Dhurandhar 2' in Delhi, Mumbai, and Bengaluru, offering VIP experiences to Ultra HNI customers.
Gold Price Prediction: Volatile Range-Bound Trading
Gold prices are consolidating with high volatility due to geopolitical risks and Fed uncertainty. MCX futures trade near ₹1,46,900, with key levels at ₹1,45,000-₹1,49,000.
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March 2026 Bank Holidays: Eid, Ram Navami Dates
The Reserve Bank of India has released the March 2026 bank holiday schedule. Banks will be closed on March 20-21 for Eid-Ul-Fitr in various states, with digital services remaining operational.
Goldman Sachs Adopts Rolling Job Cuts, Skips Spring Mass Layoffs
Goldman Sachs is abandoning its traditional large-scale annual layoffs in favor of smaller, rolling job cuts throughout 2025, affecting multiple divisions while maintaining strong revenue growth of 9%.
Gold, Silver Prices Struggle as Oil and Inflation Weigh
Gold and silver prices face downward pressure due to high oil prices, inflation concerns, and geopolitical conflicts. Experts highlight central bank demand and technical outlook.
HDFC Bank Chairman Exit Sparks Market Crash, Governance Fears
Atanu Chakraborty's resignation as HDFC Bank's non-executive chairman led to an 8.4% stock crash, erasing Rs 66,000 crore in market cap amid West Asia war tensions and governance concerns.
SBI Mutual Fund Files for IPO, Sponsors to Sell Stakes
SBI Mutual Fund, India's largest fund house, has filed for its public offering. Sponsors SBI and Amundi will sell 6.3% and 3.7% stakes respectively, aiming to raise about Rs 13,500 crore.
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CBI Case in Rs 2.78 Crore Mudra Loan Fraud at Bank of India
The CBI has registered a case regarding an alleged Rs 2.78 crore fraud in Mudra loan disbursal at a Bank of India branch in Barabanki, following Allahabad High Court directions. The FIR names bank officials and middlemen, with searches conducted in Luckno
JP Morgan Neutral on HDFC Bank; Chairman Exit Adds to Headwinds
JP Morgan maintains neutral rating on HDFC Bank with Rs 1,090 target. Analysts warn chairman's resignation citing ethical concerns and merger delays could weaken stock amid geopolitical risks. Other brokerages update ratings on Tata Motors, GMR Airports,
HDFC Bank Governance Scare Contained After Chairman's Exit
Regulators, board, and government swiftly reassure stakeholders after HDFC Bank's non-executive chairman resigns citing ethical concerns, emphasizing the bank's strong fundamentals and governance.
UP Chief Secretary Urges Banks to Expand Rural Reach
Chief Secretary SP Goyal chaired the state-level bankers' committee meeting, emphasizing the need for banks to increase presence in rural areas, accelerate financial inclusion, and support key government schemes.
Shriram General Insurance Launches Enhanced Health Plan 2.0
Shriram General Insurance introduces Shri Health Suraksha 2.0, a revamped health insurance suite with unlimited restoration benefits and no room rent caps to address rising medical costs.
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GST Fraud Case: Businessman Files Complaint Over Rs 37.86 Lakh Liability
A Jamnagar businessman alleges his accountant shared GST login details, leading to fake e-way bills and a Rs 37.86 lakh tax demand. Police have registered a case under BNS.
IDFC First Bank Scam: Vikram Wadhwa Gets 7-Day Remand
A Chandigarh court has sent businessman Vikram Wadhwa to seven-day police remand in the IDFC First Bank fraud case, involving fake FDRs and unauthorized transactions worth over Rs 116 crore.
Manipal Hospitals Files for Record Rs 10,500-11,000 Crore IPO
Manipal Hospitals is set to file its DRHP this week for an IPO expected to raise Rs 10,500-11,000 crore, potentially India's largest healthcare public offering. The funds will retire debt and fuel expansion.
SBI Funds Management Files IPO Papers with SEBI
SBI Funds Management, a subsidiary of State Bank of India, has filed draft papers with SEBI for an initial public offering to raise capital through a fresh issue and an offer for sale.
Shilpa Shetty Gets Tax Relief: ITAT Orders Gift Re-examination
Mumbai ITAT grants Shilpa Shetty Kundra partial relief, ruling gift deed and PAN alone insufficient to prove Rs 12.5 crore gift genuineness. Tribunal directs fresh I-T examination with complete evidence.
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ED Attaches Rs 93 Lakh Assets of Ex-SBI Manager in Fraud
Enforcement Directorate Ranchi provisionally attached properties worth Rs 92.97 lakh of former SBI manager Manoj Kumar and family, linked to a Rs 5.40 crore fraud involving unauthorized transactions from customer accounts.
Rupeezy Launches SIF for Advanced Investment Planning
Rupeezy introduces SIF, an AI-driven investment planning tool that offers personalized financial strategies, real-time market insights, and automated portfolio management for users.
HDFC Bank CEO Asked to Reconsider Resignation
HDFC Bank management has requested CEO Atanu Chakraborty to reconsider his resignation and adjust the wording in his departure letter, while expressing confidence in recovering from reputational challenges.
Finance Ministry Official Lauds HDFC Bank's Strong Fundamentals
A former Finance Ministry official, Chakraborty, has commended HDFC Bank, describing it as a strong institution with robust fundamentals, highlighting its stability in the banking sector.
Gold Futures Drop Over 2% on Strong Dollar, Weak Cues
Gold prices fell sharply in futures trade on Thursday, driven by a stronger US dollar and weak global cues. MCX gold contracts dropped by Rs 3,616, while international Comex futures declined by $120.84 per ounce.
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Gold Futures Plunge Rs 3,616 to Rs 1.49 Lakh per 10g
Gold futures on MCX plummeted by Rs 3,616, or 2.36%, to Rs 1,49,409 per 10 grams amid weak global cues and significant trading volume of 7,387 lots.
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