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Mumbai: A Special Central Bureau of Investigation (CBI) court on Friday granted an interim stayed on the trial court proceedings before Magistrate court against wanted jeweller Mehul Choksi and other accused persons, Aniyath Nair and Vipul Chitalia in a bank fraud case probed by the CBI in relation to loan granted by Canara Bank to a company, Bazel Jewellery. In April, CBI had filed a chargesheet before the Esplanade court in the said matter alleging cheating, diversion of funds and misappropri ...Read More >
Patna: Non-vegetarian dishes have made Bihar's politics spicier on several occasions, and so union minister and senior JD (U) leader Rajiv Ranjan Singh aka Lalan Singh' recent mutton party for party workers and supporters under his Munger constituency was no exception. Lalan Singh listened to problems of common people at Suryagarha in Lakhisarai district of Bihar (part of Munger constituency) to sort them out with local authorities and also threw a mutton party for them, creating a controversy ...Read More >
MUMBAI : In the face of decadal-low savings rates, state-run banks are hoping that dropping charges for not maintaining a minimum balance will help hold customers' interest in bank deposits. The decision, said two bankers close to the matter, follows a regulatory push to address customer grievances, as well as internal surveys that estimated limited revenue loss if such minimum balances are not maintained. "The Reserve Bank of India wanted us to look into complaints, and this was one of the ma ...Read More >
Patna: Passengers can now book tickets for all buses operated by the Bihar State Road Transport Corporation (BSRTC) through an online platform with the department preparing to launch its own dedicated app. The new facility will allow users to book seats, choose their preferred seat, view live availability and cancel tickets - all from their cellphones without the need for a physical ticket.The announcement was made on Saturday during the signing of a memorandum of understanding (MoU) with Canara ...Read More >
Vijayapura: In a major breakthrough in the sensational Managuli Canara Bank burglary case, police have arrested 12 more individuals, taking the total number of arrests to 15. In total, 39 kg of gold and Rs 1.16 crore in cash have been recovered till now. The burglary occurred between the evening of May 23 and the early hours of May 25. The gang broke into the bank by cutting window grills and accessed the locker room, stealing 58.97 kg of gold ornaments and Rs 5.20 lakh in cash. They also took ...Read More >
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 ...Read More >
Mumbai: Reliance Group Chairman and Managing Director Anil Ambani has secured a legal victory against one of India's biggest public sector banks. Canara Bank, the lead lender in the Reliance Communications (RCOM) case, has backed off after branding Ambani a "fraud". And it did not even wait for a full trial. It simply folded. On July 10, the bank informed the Bombay High Court that it would unconditionally withdraw its "fraud classification" against Ambani in the high-profile RCOM matter. No st ...Read More >
MUMBAI: In a dramatic turnaround and a likely setback to the State Bank's effort to recover its dues from RCom, the crippled telecom company that was promoted by Anil Ambani, state-run lender Canara Bank has informed the Bombay High Court that it has withdrawn its order classifying the loan as fraudulent. Following this disclosure, a bench of justices Revati Mohite Dere and Neela Gokhale on Thursday disposed of the petition filed by Ambani challenging the bank's order issued last year, saying " ...Read More >
New Delhi: Good news for bank customers! Several major public sector banks in India have scrapped the requirement to maintain an Average Monthly Balance (AMB) in savings accounts. This move comes as a big relief for account holders, especially those struggling to meet the minimum balance rules. Average Monthly Balance (AMB) is the average amount you need to keep in your savings or current account every month. Banks calculate this at the end of each month. If your balance falls below the require ...Read More >
Agartala (Tripura) [India], July 10 (ANI): A large-scale state-level mock exercise simulating flood and landslide scenarios was successfully conducted across Tripura with special emphasis on West Tripura District by the District Disaster Management Authority (DDMA) under the supervision of the National Disaster Management Authority (NDMA). Vishal Kumar, District Magistrate (DM) of West Tripura, addressed the media following the drill, and highlighted that rescue operations were carried out simu ...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 ...Read More >
New Delhi [India], July 4 (ANI): SpiceJet on Thursday acknowledged that some passengers are currently facing difficulties in reaching the airline's customer care helpline due to intermittent technical issues. The airline said efforts are underway to restore normal functioning as soon as possible. In an official message on X, SpiceJet stated, 'We are currently experiencing intermittent issues with our SpiceJet Customer Care helpline numbers. We assure you that our relevant teams are working to r ...Read More >
Mumbai: Lenders to Vodafone Idea Ltd are worried that the telecom operator which is trying to borrow ₹35,000 crore more may prioritize paying its government debts over its new bank loans, a person aware of the matter said. Their concern centres around the company's ability to sustain loan repayments on the proposed loans if Vodafone Idea has to pay the adjusted gross revenue (AGR) dues to the government. The weakest player in India's telecom landscape has been steadily posting losses since FY17 ...Read More >
Bengaluru: The high court issued an interim directive allowing CBI to investigate and obtain documents from agencies, including CID, ED, CFSL, apart from the court concerned, in Shri Maharshi Valmiki Scheduled Tribes Development Corporation scam case. The order aims to facilitate investigation into newly discovered fund-diversion instances and submission of the final report.The order came after Justice M Nagaprasanna allowed CBI's interlocutory application. The agency sought authorisation to inv ...Read More >
NEW DELHI: The Nifty Bank index closed on a negative note on Wednesday. Shares of Punjab National Bank(up 0.69 per cent), Axis Bank Ltd.(up 0.18 per cent) and IDFC First Bank Ltd.(up 0.02 per cent) ended the day as top gainers in the pack. On the other hand, IndusInd Bank Ltd.(down 2.44 per cent), Au Small Finance Bank Ltd.(down 2.4 per cent), Bank of Baroda(down 1.82 per cent), HDFC Bank Ltd.(down 1.3 per cent) and Canara Bank(down 1.04 per cent) finished as the top losers of the day. The Ni ...Read More >
NEW DELHI: More than 30 years after it mandated a 200-point-roster system for earmarking posts for Scheduled Caste and Scheduled Tribe candidates in direct recruitments, the Supreme Court has now identified staff posts reserved for SC and ST candidates but provided no quota for OBC candidates.The judgment in R K Sabharwal case was delivered by a five-judge bench on Feb 10, 1995, during the tenure of 26th CJI A M Ahmadi, but it will be implemented now during the tenure of 52nd CJI in Justice B R ...Read More >
New Delhi [India], July 2 (ANI): The Reserve Bank of India (RBI) has appointed Kesavan Ramachandran as Executive Director of RBI with effect from July 1. "As Executive Director, Kesavan Ramachandran will look after Department of Regulation (Prudential Regulation Division)," said the central bank in the statement. Also Read | India Developing Its Own Bunker-Buster Missile? Reports Say DRDO Modifying Agni-5 ICBM To Carry Massive Conventional Warhead. Prior to being promoted as Executive Directo ...Read More >
New Delhi [India], July 2 (ANI): The Reserve Bank of India (RBI) has appointed Kesavan Ramachandran as Executive Director of RBI with effect from July 1. 'As Executive Director, Kesavan Ramachandran will look after Department of Regulation (Prudential Regulation Division),' said the central bank in the statement. Prior to being promoted as Executive Director, Kesavan Ramachandran was serving as Principal Chief General Manager in Risk Monitoring Department. Ramachandran has experience of over t ...Read More >
New Delhi [India], July 2 (ANI): The Reserve Bank of India (RBI) has appointed Kesavan Ramachandran as Executive Director of RBI with effect from July 1. 'As Executive Director, Kesavan Ramachandran will look after Department of Regulation (Prudential Regulation Division),' said the central bank in the statement. Prior to being promoted as Executive Director, Kesavan Ramachandran was serving as Principal Chief General Manager in Risk Monitoring Department. Ramachandran has experience of over t ...Read More >
NEW DELHI: The Nifty Bank index traded negative around 11:08AM(IST)on Tuesday in an upbeat market. IDFC First Bank Ltd.(up 3.57 per cent), Au Small Finance Bank Ltd.(up 1.36 per cent), Kotak Mahindra Bank Ltd.(up 0.74 per cent) and HDFC Bank Ltd.(up 0.32 per cent) were among the top gainers. Axis Bank Ltd.(down 2.54 per cent), Bank of Baroda(down 1.83 per cent), Canara Bank(down 1.06 per cent), Punjab National Bank(down 0.63 per cent) and ICICI Bank Ltd.(down 0.61 per cent) were the top losers ...Read More >
Sangareddy (Telangana) [India], July 1 (ANI): Telangana Governor Jishnu Dev Varma has expressed grief over the tragic fire accident that occurred at the Pashamylaram industrial area in Sangareddy district that killed 12 people. The Governor paid condolences to the families of those who lost their lives in the incident and wished a speedy recovery to the injured. Also Read | Rules Changing From July 1, 2025: From LPG Cylinder Prices and Railway Fares to Aadhaar-PAN Link, Check Key Rule Changes ...Read More >
Mumbai: The Nifty PSU Bank Index jumped more than 2.5% Monday after the finance ministry urged these lenders to offer more credit and monetise subsidiaries through IPOs and stake sales. They bucked the declines in the rest of the banking space. The Nifty PSU Bank Index gained 2.7%, while the Bank Nifty and benchmark Nifty lost 0.2% and 0.5%, respectively. All 12 stocks in the PSU Bank index closed higher. Bank of Maharashtra soared 5.3% while Punjab National Bank and Bank of Baroda rallied 3.9 ...Read More >
CHENNAI: Indian stock markets ended much lower on Monday, snapping a four-day winning streak. Investors booked profits after recent gains, and there were no major new domestic developments to drive the markets higher. The key Indices -- Sensex fell by 452 points or 0.54% to close at 83,606.46, and Nifty 50 also dropped, ending around 25,500, down roughly 0.55%. Stocks that fell the most under Sensex were Axis Bank, Kotak Mahindra Bank, Maruti, Ultratech Cement, Bajaj Finance, Reliance Industri ...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 o ...Read More >
As a precursor to monetisation, sources said, banks should improve governance, professional decision-making and bring in greater operational efficiency in their subsidiaries. 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 a good return. There are about 15 subsidiaries or joint ventures of PSBs lined up for initial public offering or divestment in ...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. Wherever required banks should invest funds to scale up operations of their subsidiaries or joint ventures, sources s ...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 Cu ...Read More >
Vijayapura (Karnataka), Jun 27 (PTI) Three people, including a bank manager, have been arrested in connection with the alleged robbery of gold and cash worth Rs 53.26 crore from Canara Bank's Managuli branch, police said on Friday. The accused have been identified as Vijayakumar Miriyala (41), the bank manager, and his accomplices -- Chandrashekhar Nerella (38) and Sunil Narasimhalu Moka (40), police added. The robbery took place at Canara Bank's Managuli branch in Basavanabagewadi taluk of Vi ...Read More >
Vijayapura (Karnataka), Jun 27 (PTI) Three people, including a bank manager, have been arrested in connection with the alleged robbery of gold and cash worth Rs 53.26 crore from Canara Bank's Managuli branch, police said on Friday. The accused have been identified as Vijayakumar Miriyala (41), the bank manager, and his accomplices -- Chandrashekhar Nerella (38) and Sunil Narasimhalu Moka (40), police added. Also Read | Bodoland Lottery Result Today, June 27, 2025: Assam State Lottery Sambad Fr ...Read More >
NEW DELHI: The Nifty Bank index traded around 10:19AM(IST)on Wednesday in a weak market. Federal Bank Ltd.(up 0.35 per cent) and State Bank of India(up 0.03 per cent) were among the top gainers. ICICI Bank Ltd.(down 1.0 per cent), Punjab National Bank(down 0.9 per cent), IDFC First Bank Ltd.(down 0.64 per cent), HDFC Bank Ltd.(down 0.41 per cent) and Canara Bank(down 0.38 per cent) were the top losers on the index. The Nifty Bank index was 0.41 per cent at 53357.75 at the time of writing this ...Read More >
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