Finance Minister Nirmala Sitharaman warns banks against mis-selling financial products, stating it's now an offence under Bharatiya Nyaya Sanhita. RBI's new draft guidelines mandate full refunds for customers.
The Indian rupee appreciated by 7 paise to settle at 90.87 against the US dollar in forex trading. It opened at 90.76 and fluctuated between 90.67 and 90.89 during the session.
Bitcoin bonds have been officially listed on Wall Street, marking a significant milestone for cryptocurrency integration into traditional finance. Simultaneously, the DeepSnitch AI project's presale is drawing substantial investor interest ahead of its pl
The Reserve Bank of India will auction state government securities worth ₹44,500 crore on February 24, with 16 states participating to raise funds for development and infrastructure projects.
IDFC First Bank expects to remain profitable after provisioning for a Rs 590 crore fraud in Haryana government-linked accounts at its Chandigarh branch, involving employee collusion and forged cheques.
IDFC First Bank's stock price plummeted by 20% after the bank disclosed a fraud of Rs 590 crore. The amount represents about 0.9% of the bank's net worth and 20% of its estimated FY26 pre-tax profit.
A massive fraud of Rs 590 crore at IDFC Bank has targeted funds of the Haryana government, with the Reserve Bank of India closely monitoring developments as investigations unfold.
IDFC First Bank's stock price plummeted by 20% after the bank disclosed a significant fraud amounting to Rs 590 crore, raising concerns about internal controls and governance.
IDFC Bank reveals staff collusion led to fraud in a Haryana government account but expects strong Q4 profitability despite provisions, as stated by CEO Vaidyanathan.
Finance Minister Nirmala Sitharaman states the government is closely monitoring gold prices, which have not crossed certain limits, amid market volatility and economic concerns.
RBI Governor Malhotra states the central bank is closely monitoring the fraud case at IDFC First Bank but confirms no systemic banking issues. The focus remains on regulatory oversight and financial stability.
Gold futures in India have rallied sharply, reaching Rs 1.59 lakh per 10 grams, driven by robust global cues and market optimism. This significant price movement reflects heightened investor interest and economic factors influencing precious metals.
The Bombay High Court overturned interim relief for Anil Ambani, allowing banks and BDO India LLP to proceed with fraud allegations based on a 2020 audit, impacting his credit access.
RBI Governor Sanjay Malhotra addresses the Rs 590 crore fraud at IDFC First Bank, involving Haryana government accounts. CEO V. Vaidyanathan details collusion, provisions, and recovery measures, with KPMG forensic review underway.
Avendus has raised over Rs 2,200 crore for its third credit strategy fund, targeting a total corpus of Rs 4,000 crore. The fund has already deployed 60% of capital across diverse sectors, with increased investor commitment.
SEBI Chairman Madhabi Puri Buch highlights India's rapid economic growth as a key driver for increased demand in professional wealth management services, emphasizing the need for investor education and regulatory support.
The UAE has issued its inaugural seven-year Islamic Treasury Sukuk, valued at AED550 million, with bids reaching nearly six times the amount. This move aims to extend the dirham yield curve and boost the domestic debt market.
A Rs 590 crore fraud at IDFC First Bank's Chandigarh branch has caused investor wealth erosion of over Rs 14,000 crore. The bank's shares crashed 20% as the fraud exceeds quarterly earnings.
Gold prices show underlying bullish bias according to Motilal Oswal analyst. Factors like US inflation, Fed policy, and geopolitical tensions guide outlook. Technical analysis reveals key support and resistance levels for gold futures.
AU Small Finance Bank has launched a new-age credit card designed to simplify and enhance everyday payments across India, offering innovative features for modern consumers.
IDFC First Bank shares hit the 20% lower circuit after revealing a Rs 590 crore fraud at its Chandigarh branch involving Haryana government accounts. The bank has suspended four officials and launched an investigation.
IDFC First Bank has disclosed a significant fraud of Rs 590 crore involving staff in Haryana government accounts, suspending four employees and launching a probe. The bank has informed regulators and filed a police complaint.
IDFC First Bank's stock fell sharply by 10% in premarket trading following the disclosure of a $65 million fraud. The amount represents 0.9% of the bank's net worth and 20% of its estimated fiscal 2026 pre-tax profit.
Axis Bank has officially denied submitting any bid for a controlling stake in CreditAccess Grameen, refuting market reports about its interest in acquiring the microfinance lender.
Morgan Stanley maintains an overweight rating on Reliance Industries with a target of Rs 1,803, highlighting its $110 billion AI and energy investment plan. Other brokerages issue ratings on JSW Cement, Lenskart, United Spirits, and ITC, covering growth p
A Vadodara consumer forum has directed Oriental Insurance to reimburse Rs 37,910 to a policyholder for a mole removal surgery, ruling it was medically necessary, not cosmetic, after the insurer rejected the claim.
IDFC First Bank has identified a Rs 590 crore discrepancy in Haryana government deposits at its Chandigarh branch, suspending four employees and initiating a forensic audit. Haryana has de-empanelled the bank from state business.
JPMorgan Chase has formally acknowledged closing Donald Trump's bank accounts after the January 6 Capitol attack, revealed in a $5 billion lawsuit over alleged political debanking.
State Bank of India sets a goal to boost green advances to 7.5-10% of its portfolio by 2030, launches CHAKRA for renewable sectors, and hosts Green Marathon to promote climate action.
The Reserve Bank of India has launched a Tier IV-certified data centre in Bhubaneswar, strategically located to mitigate cross-border and seismic risks, ensuring uninterrupted operations for critical financial systems like payments and currency management