India's economic engine is revving up, but navigating the global headwinds requires sharp strategy. The rupee's recent volatility against the dollar underscores the complexities facing Indian businesses, impacting everything from import-export trade to domestic inflation. This week alone, we've seen significant shifts in the IT sector, with major players announcing restructuring and a renewed focus on AI-driven solutions. Meanwhile, the burgeoning startup ecosystem continues to attract substantial funding, despite a cautious global investor sentiment. The government's recent policy announcements on infrastructure development and digitalization are poised to further shape the business landscape, creating both opportunities and challenges for entrepreneurs and established corporations alike. Understanding these market dynamics is crucial for success in today's rapidly evolving Indian economy. Stay informed with Abtak.com for the latest insights and analysis on key sectors including finance, manufacturing, and technology – empowering your business decisions in a dynamic market. Explore the complete business news section now to stay ahead of the curve.
MUMBAI: Canara Bank on Thursday informed the Bombay HC that it has withdrawn an order that classified Anil Ambani's loan account connected to Reliance Communications, which is undergoing insolvency proceedings, as 'fraudulent'. The HC bench then disposed of a petition filed by Ambani challenging the bank's Nov 8 order. The bank had classified the loan account as 'fraud' for reasons including that a Rs 1,050-crore-loan given in 2017 was routed through a company to pay other liabilities to related parties. On Feb 7, Ambani's advocate argued the order was communicated to him on Dec 25, after HC on Dec 20 stayed the bank's similar classification.
Anil Ambani has been summoned by the Enforcement Directorate for questioning in connection with an alleged '17,000-crore loan fraud case. Searches were conducted at multiple locations linked to Reliance Group. SEBI shared findings of a probe into alleged diversion of '10,000 crore by Reliance Infrastructure to Reliance Group units through an undisclosed related party. The Directorate of Enforcement (ED) has summoned Anil Ambani, chairman and managing director of Reliance Group, for questioning i ...Read More >
Moradabad (UP), Aug 1 (PTI) The Moradabad district administration has cancelled the allotment of a government bungalow granted to former Uttar Pradesh chief minister Mulayam Singh Yadav. The Samajwadi Party (SP) has been asked to vacate the premises within 30 days. The bungalow, located in the posh Civil Lines area near the Police Training College (PTC II), was allotted to the SP patriarch 31 years ago. Spread across nearly 1,000 square meters on Nazul land, the property serves as the local SP office. District Magistrate Anuj Singh said the property is needed for housing officers and other ...Read More >
Bapatla (Andhra Pradesh) [India], August 1 (ANI): In a major breakthrough, Bapatla District Police have successfully cracked a sensational cybercrime case involving a gang operating fake websites across India, an official statement said. Two accused from Rajasthan were arrested for creating fake websites in the name of prominent tourist and temple destinations and defrauding people. Also Read | Anil Ambani in Trouble: ED Issues Look Out Circular Against ADAG Chairman in INR 17,000 Crore Loan Fraud Probe. The gang created a counterfeit website resembling the official site of Haritha Resorts, ...Read More >
Hyderabad (Telangana) [India], August 4: Rx Propellant, an Actis platform, is proud to announce that 1GV, its flagship life sciences campus located in Genome Valley, Hyderabad, has been awarded the prestigious EDGE Advanced Certification by the International Finance Corporation (IFC), a member of the World Bank Group. This recognition highlights 1GV exceptional performance in energy efficiency, water conservation, and use of low-carbon materials--cementing its position as one of the most sustainable life sciences R&D campuses in the world. Specifically designed for lease to life sciences comp ...Read More >
Bengaluru, Sep 15 (SocialNews.XYZ) In a major development, the Central Bureau of Investigation (CBI) has conducted raids on Monday at 16 locations in Karnataka and Andhra Pradesh in connection with sensational tribal welfare board scam in which former minister B. Nagendra was jailed. An official statement CBI stated: "The raids were conducted at premises of sister, brother-in-law, personal assistant and other close associates of former Karnataka minister in connection with siphoning of government funds." CBI sources confirmed that, Sharada, sister, D. Bharani Prasad, brother-in-law, Personal ...Read More >
NEW DELHI: Enforcement Directorate on Tuesday searched six premises in connection with a case of money laundering against Anil Ambani and R-ADAG entities.Sources said the searches were a part of the investigation into overseas remittances by Reliance Infrastructure, allegedly in violation of certain regulations of Foreign Exchange Management Act (Fema).In a statement, Reliance Infrastructure said Tuesday's searches were related to matters dating back to 2010, when the company had awarded an EPC c ...Read More >
Mumbai: The Enforcement Directorate (ED) has issued a Look Out Circular (LoC) against Anil Ambani, chairman of the Anil Dhirubhai Ambani Group (ADAG), in connection with its ongoing probe into an alleged Rs 17,000-crore bank loan fraud case. The LoC was issued on Friday at the request of the federal financial probe agency to prevent Ambani from leaving the country without prior clearance, senior officials confirmed. Ambani Summoned in ₹17,000 Crore Bank Fraud Investigation The ED has summoned the industrialist for questioning on August 5 as part of its investigation. According to officials, ...Read More >
Mumbai, September 30, 2025 - Anil Ambani-led Reliance Infrastructure Limited issued a statement on Tuesday addressing media reports about a survey conducted by the Enforcement Directorate (ED) under the Foreign Exchange Management Act (FEMA) at its premises. The company clarified that the survey pertains to a 15-year-old matter involving the JR Toll Road (Jaipur-Ringus Highway) project. In a filing with the Bombay Stock Exchange, under Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 ("Listing Regulations"), Relia ...Read More >
New Delhi: Congress leader Rahul Gandhi on Thursday attacked the Narendra Modi government over farmer suicides in Maharashtra, saying it remains indifferent to farmers' plight, even as they are sinking deeper into debt every day. The BJP, however, debunked the charge saying politics of counting the dead is disgusting and demanded answers from Gandhi on how 55,928 farmers committed suicide in Maharashtra during the 15-year tenure of the NCP-Congress government from 1999 to 2014. In a post on X in Hindi, the leader of opposition in Lok Sabha accused the government of ignoring farmers' demands ...Read More >
New Delhi [India], August 1 (ANI): The Enforcement Directorate (ED) has issued a Look Out Circular (LOC) against industrialist Anil Ambani in connection with an ongoing investigation into an alleged Rs 17,000-crore loan fraud case, sources said. LOC is issued to prevent a person from leaving the country while the probe is underway. The ED has not released an official statement on the matter yet. ED move comes after the agency summoned Anil Ambani for questioning in the case and directed him to appear before investigators at the ED headquarters in New Delhi on August 5. The probe pertains to ...Read More >
New Delhi: Anil Ambani's company, Reliance Power, announced a major deal on Monday, 29 September 2025, selling its 100% stake in five Indonesian coal companies for $12 million (approximately Rs 100 crore). In a regulatory filing, the company stated that two of its subsidiaries, Reliance Power Netherlands BV and Reliance Natural Resources (Singapore) Private Limited, have entered into a share purchase agreement with Biotrustor (Singapore) Private Limited for this transaction. Anil Ambani's company, Reliance Power, stated that it has decided to sell its entire stake in the five Indonesian compa ...Read More >
Mumbai, June 30 (SocialNews.XYZ) After rising for four straight sessions, the Indian stock markets took a breather on Monday as investors booked profits amid the absence of strong domestic cues. The Sensex dropped 452 points, or 0.54 per cent, to close at 83,606.46. During the day, it moved between an intra-day high of 84,099.53 and a low of 83,482.13. Nifty also followed suit. The 50-share index opened at 25,661.65, touched a high of 25,669.35, and closed at 25,517.05, down by 120.75 points or 0.47 per cent. In contrast, the broader markets performed better. The Nifty Midcap100 rose 0.6 pe ...Read More >
Patna, Aug 1 (PTI) Healthcare services were affected at AIIMS-Patna on Friday as resident doctors went on an "indefinite strike" in protest against the alleged high-handedness of Sheohar MLA Chetan Anand. According to a press statement issued by the Resident Doctors' Association (RDA), AIIMS-Patna, on Friday, "The RDA expresses deep disappointment and anguish over the lack of action by the administration following the violent and traumatic incident that occurred on Wednesday, when MLA Chetan Anand, his wife and their armed guards breached hospital security, physically assaulted staff, and thr ...Read More >
New Delhi, Nov 3 (UNI) The Enforcement Directorate (ED) today said that it has provisionally attached over 40 properties of the Reliance Anil Ambani Group, including the family's famed Pali Hill residence in Mumbai, in a money laundering case, with the total value of the seized assets exceeding Rs 3,000 crore. Properties based in Delhi, Noida, Ghaziabad, Mumbai, Pune, Thane, Hyderabad, Chennai, Kancheepuram, and East Godavari have been attached. The attached assets comprise office spaces, residential units, and land parcels, with an aggregate value of approximately Rs 3,084 crore. The case ...Read More >
New Delhi, August 13: Facing widespread outrage, private lender ICICI Bank on Wednesday partially reversed its minimum average balance (MAB) requirements from Rs 50,000 to Rs 15,000 for new customers in Metro and urban areas. The revision came after a pushback from customers and days after the second-largest bank in the country raised the MAB requirement from Rs 10,000 to Rs 50,000 for new customers in urban cities. The minimum balance that new ICICI Bank customers in semi-urban areas must maintain has also been reduced to Rs 7,500 from Rs 25,000. For rural locations, the MAB has been reduced ...Read More >
New Delhi, Sep 15 (PTI) The CBI on Monday conducted searches at the premises of associates of former Karnataka minister B Nagendra at 16 locations in the state and Andhra Pradesh in connection with the Valmiki Scheduled Tribes Development Corporation 'scam', officials said. The case involves serious allegations of transferring government funds to personal accounts of Nagendra's relatives from the accounts of Karnataka Maharshi Valmiki Scheduled Tribes Development Corporation. The search operation covered the premises of Nagendra's sister B Sharada, brother-in-law D Bharani Prasad, personal a ...Read More >
The Patiala House Court reserved its order on the anticipatory bail plea of Chaitanyananda Saraswati on Friday, who has sought protection from arrest in a case related to alleged financial irregularities. Additional Sessions Judge (ASJ) Dr Hardeep Kaur reserved the order, after hearing the submissions, saying that the order will be pronounced in the evening or tomorrow, Saturday. Senior advocate Ajay Burman, counsel for Chaitanyananda Saraswati, submitted that an educational institution require ...Read More >
New Delhi, Sep 30 (PTI) The Enforcement Directorate on Tuesday conducted searches in Maharashtra and Madhya Pradesh as part of a FEMA investigation being conducted against Anil Ambani Group company Reliance Infrastructure, official sources said. At least six premises in Mumbai and Mhow in Indore were raided, they said. The searches are part of a Foreign Exchange Management Act (FEMA) investigation being conducted against Reliance Infrastructure on charges of making some illegal remittances abroad, they said. The ED has already been investigating alleged financial irregularities and collecti ...Read More >
New Delhi: The Enforcement Directorate's (ED) move to seize assets worth ₹3,000 crore belonging to industrialist Anil Ambani has triggered a massive sell-off in his group companies, wiping out nearly ₹1,831 crore in market value in a single trading session. Reliance Infrastructure Suffers Sharp Decline The ED's crackdown has rattled investor confidence in the Reliance Anil Dhirubhai Ambani Group (ADAG)companies. Analysts believe that uncertainty will continue to weigh on stock performance until more clarity emerges regarding the investigation. "The pressure on Anil Ambani group companies may ...Read More >
Anil Ambani Reliance Goup: The Enforcement Directorate has frozen over 40 properties valued at more than ₹3,000 crore connected to Anil Ambani's Reliance Group. These attached assets include Anil Ambani's Pali Hill residence and various properties across major Indian cities. The ED's action targets entities within the group, with attachments made in Delhi, Mumbai, and other key locations. Reliance ED Probe: Trouble seems to be closing in on Anil Ambani's business group. The Enforcement Directo ...Read More >
MUMBAI: In a move reminiscent of Hindenburg going short on Adani Group, US-based financial researcher Viceroy Research said Wednesday it was "shorting" the debt stack of metal tycoon Anil Agarwal-controlled Vedanta Resources, the UK-based parent of Mumbai-listed miner Vedanta, as it believes the entire group structure is 'financially unsustainable', operationally compromised, 'a house of cards', poses severe risks to creditors, and 'resembles a Ponzi scheme'. Viceroy's 87-page report came ahead of Vedanta's annual shareholder meeting on Thursday. The company dismissed the report as "a maliciou ...Read More >
New Delhi [India], August 1 (ANI): The Enforcement Directorate (ED) has issued a Look Out Circular (LOC) against industrialist Anil Ambani in connection with an ongoing investigation into an alleged Rs 17,000-crore loan fraud case, sources said. LOC is issued to prevent a person from leaving the country while the probe is underway. The ED has not released an official statement on the matter yet. Also Read | Anil Ambani in Trouble: ED Issues Look Out Circular Against ADAG Chairman in INR 17,000 Crore Loan Fraud Probe. ED's move comes after the agency summoned Anil Ambani for questioning in t ...Read More >
Shimla (Himachal Pradesh) [India], August 1 (ANI): As the monsoon continues to batter Himachal Pradesh, the State Disaster Management Authority (SDMA) has confirmed a grim picture as it stated that 173 lives have been lost, including 95 rain-related fatalities and 78 deaths in road accidents, between June 20 and August 1. According to the latest report released by the State Emergency Operation Centre (SEOC) on August 1, 283 roads remain blocked, including major stretches of National Highways 21 and 303. Also Read | Anil Ambani in Trouble: ED Issues Look Out Circular Against ADAG Chairman in ...Read More >
Gross Goods and Services Tax (GST) collections rose 7.5 per cent year-on-year to Rs 1.96 lakh crore in July (for sales in June), data released by the government on Friday showed. Even though the pace of growth in gross GST collections picked up to 7.5 per cent in July from 6.2 per cent, this is the second consecutive month wherein the growth rate has been in single digits and much lower after posting double-digit growth in the first two months of the ongoing financial year. ARTICLE CONTINUES BELOW VIDEO Net GST collections, after accounting for refunds, took a hit by growing by just 1.7 per ...Read More >
Mumbai: ICICI Bank has taken a step back on its earlier decision to increase the minimum average balance (MAB) required in new savings accounts. The bank had recently raised the MAB from Rs 10,000 to Rs 50,000 for new accounts opened on or after August 1. However, after receiving many complaints and feedback from customers, ICICI has now reduced the amount to Rs 15,000. New Balance Rules Explained The revised minimum balance for new savings accounts is now Rs 15,000 in regular branches, Rs 7,500 in semi-urban areas, and Rs 2,500 in rural branches. These changes are still higher than the old ...Read More >
New Delhi, Jun 29 (PTI) The finance ministry has asked public sector banks (PSBs) to look at monetising their investment in subsidiaries by listing them at bourses after further scaling up operations so that they realise good return. There are about 15 subsidiaries or joint ventures of PSBs lined up for initial public offering or divestment in medium to long term, sources said. Also Read | Tamil Nadu: Temple Worker, Detained in Connection With Alleged Theft of Gold Jewellery, Dies in Police Custody; Tension Erupts in Sivaganga. Wherever required banks should invest funds to scale up operati ...Read More >
New Delhi, Sep 15 (PTI) State-owned Canara Bank on Monday said its subsidiary, Canara HSBC Life Insurance Company Ltd, has received capital market regulator Sebi's nod for its proposed initial public offering (IPO). Canara HSBC Life Insurance has received communication from the Securities and Exchange Board of India (Sebi) vide letter dated September 15 on final observations and for filing Updated Red Hearing Prospectus (UDRHP), Canara Bank said in a regulatory filing. The offer comprises an offer for sale of up to 23.75 crore shares of face value of Rs 10 each, including up to 13.77 crore s ...Read More >
Mumbai, Sep 30 (SocialNews.XYZ) The Enforcement Directorate (ED) on Tuesday carried out searches at six premises in Indore and Mumbai in connection with a probe into alleged illegal remittances abroad by Reliance Infrastructure under the Foreign Exchange Management Act (FEMA). According to reports, ED teams also raided the offices and homes of Indore-based Path India Group, a company under scrutiny for irregularities in toll road projects and other ventures. A team of officials in multiple vehicles reached the firm's headquarters at 76 Mal Road in Mhow and the residences of its directors. N ...Read More >
Mumbai: In a major setback to industrialist Anil Ambani, the Bombay High Court on Friday dismissed his plea challenging the State Bank of India's (SBI) decision to classify his loan account as "fraudulent." The account pertained to his firm, Reliance Communications (RCom), which is already under insolvency proceedings. Bench Statement A bench of Justices Revati Mohite Dere and Neela K Gokhale rejected Ambani's petition, stating: "There is no merit in the petition. Petition is dismissed." SBI and RBI Guidelines SBI issued the order in June this year, following a Reserve Bank of India (RBI) ...Read More >
New Delhi: State Bank of India (SBI) has decided to classify the loan account of beleaguered telecom firm Reliance Communications as "fraud" and to report the name of its erstwhile director -- Anil Ambani to the Reserve Bank of India (RBI). The move is expected to be followed by other lenders who have given loans to Reliance Communications Ltd (RCom). Reliance Communications in a regulatory filing said that it has received a letter dated June 23, 2025 from the State Bank of India (SBI) to this effect. SBI has decided to report the loan account of the company as 'fraud' and to report the name ...Read More >