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Court says prima facie proof of role in fraudulent acquisition of sugar factory OVER A year after the Mumbai Police said that there is no criminal offence in transactions linked to NCP (SP) leader Rohit Pawar in the Maharashtra State Cooperative Bank (MSCB) case, a special court Friday issued notice to him based on a chargesheet filed by the Enforcement Directorate (ED), observing that there is prima facie proof that he participated knowingly in a fraudulent acquisition of a sugar factory. Rohi ...Read More >
Bengaluru (Karnataka) [India], July 17 (ANI): The Enforcement Directorate (ED) on Wednesday launched searches at more than 15 locations in and around Bengaluru in connection with a multi-crore cheating case involving three cooperative banks -- Shushruti Souhardha Bank, Shruthi Souharda Bank, and Shree Lakshmi Souharda Bank. The searches are being carried out at the premises linked to the banks' promoters, and his family members, officials privy to the development, told ANI. Also Read | Flat Fr ...Read More >
Jaipur, Jul 12 (PTI) The Rajasthan government has disbursed over Rs 42,131 crore in interest-free short-term crop loans to more than 75 lakh farmers since the formation of the new government, said an official statement on Saturday. The cooperative department has also expanded its network, setting up over 600 new cooperative societies across the state by June 30, 2025, the statement said. Also Read | Maharashtra Bandh on July 14: Bars and Permit Rooms To Remain Shut As Indian Hotel and Restaura ...Read More >
Jaipur, Jul 12 (PTI) The Rajasthan government has disbursed over Rs 42,131 crore in interest-free short-term crop loans to more than 75 lakh farmers since the formation of the new government, said an official statement on Saturday. The cooperative department has also expanded its network, setting up over 600 new cooperative societies across the state by June 30, 2025, the statement said. The state budget for 2025-26 includes a provision to distribute Rs 25,000 crore in interest-free loans to a ...Read More >
Mumbai, July 9: As over 25 crore workers from key public service sectors, including banking, insurance, postal, and construction, prepare to join the nationwide strike today, July 9, many citizens are left wondering how the Bharat Bandh will impact daily life. With employees from banking, insurance, postal, construction, and other public services expected to participate in the Bharat Bandh on July 9, questions are being raised about what will remain open and what will be closed. The strike is s ...Read More >
PTC Web Desk: India is expected to witness a massive nationwide shutdown (Bharat Bandh) on July 9 as over 25 crore workers from key critical sectors, including banking, insurance, postal services, coal mining, highways, and public transport -- gear up for a day-long Bharat Bandh. The strike has been called by 10 central trade unions and their allied organisations to protest against the Centre's economic and labour policies, which they allege are anti-worker, anti-farmer, and pro-corporate in nat ...Read More >
Mumbai, July 8: Is there a Bharat Bandh on July 9, 2025? People across the country are looking for answers to search terms such as "Bharat bandh", "8 July" and "Bharat bandh 9 July 2025". The answer to the question whether there is a bharat bandh on July 9 is yes. It is worth noting that more than 25 crore workers are expected to take part nationwide strike, or "Bharat Bandh", on Wednesday, July 8. The nationwide strike has been called by 10 central trade unions against the Narendra Modi-led gov ...Read More >
Mumbai, Jul 4 (PTI) A total of 479 farmer suicides were reported in Maharashtra in March and April this year, state relief and rehabilitation minister Makrand Patil said in the assembly on Friday. In a written reply during Question Hour, he said 250 farmer suicides were reported in March in Marathwada and Vidarbha, while 229 suicides were reported statewide in April. Of the 250 cases in March, 102 were found to be eligible for financial aid as per government rules, with amounts being disbursed ...Read More >
Mumbai, July 3 (SocialNews.XYZ) Minister of Women and Child Welfare Aditi Tatkare said in a written reply in the state assembly that there is no plan at the moment to give bank loans to start small businesses to the beneficiaries of the Ladki Bahin Yojana. The minister's announcement comes days after Deputy Chief Minister and Finance Minister Ajit Pawar had said that beneficiaries of Ladki Bahin Yojana would be eligible for bank loans to start small businesses. The minister was also silent in ...Read More >
New Delhi: The Reserve Bank of India has directed banks and other lenders not to charge pre-payment penalties on all floating-rate loans and advances, including for business purposes, availed by individuals and micro and small enterprises (MSEs). RBI's direction will applicable to all loans and advances sanctioned or renewed on or after January 1, 2026. Reserve Bank in its directive has mentioned that certain REs have been found to include restrictive clauses in loan contracts/ agreements to d ...Read More >
Mumbai (Maharashtra) [India], July 3 (ANI): In a major relief for borrowers, the Reserve Bank of India (RBI) has announced that banks and other regulated lenders will no longer be allowed to impose pre-payment charges on loans taken by individuals for purposes other than business. The RBI observed that some lenders were using restrictive clauses in loan contracts to discourage borrowers from switching to other lenders offering better interest rates or services. As per the new guidelines releas ...Read More >
Mumbai (Maharashtra) [India], July 3 (ANI): In a major relief for borrowers, the Reserve Bank of India (RBI) has announced that banks and other regulated lenders will no longer be allowed to impose pre-payment charges on loans taken by individuals for purposes other than business. The RBI observed that some lenders were using restrictive clauses in loan contracts to discourage borrowers from switching to other lenders offering better interest rates or services. Also Read | Amarnath Yatra 2025: ...Read More >
The Reserve Bank of India has advised banks to integrate the Financial Fraud Risk Indicator tool developed by the Department of Telecom to curb online fraudulent transactions. This system classifies mobile numbers based on fraud risk using data from various sources. Leading institutions are already using the platform, potentially saving millions from cyber fraud.The Reserve Bank of India has advised all banks to integrate the Financial Fraud Risk Indicator tool developed by the Department of Tel ...Read More >
Mumbai, The RBI on Wednesday directed banks and other lenders not to levy any pre-payment charges on all floating-rate loans and advances, including for business purposes, availed by individuals and micro and small enterprises (MSEs). The directions will be applicable to all loans and advances sanctioned or renewed on or after January 1, 2026. In terms of extant guidelines, banks and NBFCs are not permitted to levy foreclosure charges/pre-payment penalties on any floating rate term-loan sancti ...Read More >
New Delhi, Jul 2 (PTI) The Reserve Bank of India has advised all banks to integrate the Financial Fraud Risk Indicator tool developed by the Department of Telecom to curb online fraudulent transactions, an official statement said on Wednesday. Banks and financial institutions can use the Financial Fraud Risk Indicator (FRI) in real time, which classifies mobile numbers based on their association with medium, high or very high risk of financial fraud. Also Read | Odisha Shocker: 32-Year-Old Tri ...Read More >
Mumbai: In a significant development, India's largest urban co-operative bank, Saraswat Co-operative Bank Ltd (SCBL) on Tuesday announced its voluntary proposal to merge the beleaguered New India Cooperative Bank with itself. About The Decision The bank said that it has approached the Reserve Bank (RBI) voluntarily for the amalgamation of New India Co-operative Bank Ltd. (NICBL) with Saraswat Co-operative Bank Ltd. (SCBL), subject to approval of shareholders of both banks. SCBL will be taking ...Read More >
Mumbai, July 2 (SocialNews.XYZ) The soundness and resilience of India's scheduled commercial banks are bolstered by robust capital buffers, multi-decadal low non-performing loans and strong earnings, according to the RBI's latest Financial Stability report. The country's scheduled commercial banks continued to record improvement in their asset quality, with the GNPA ratio and NNPA ratio declining to multi-decadal lows of 2.3 per cent and 0.5 per cent, respectively, the report states. While ove ...Read More >
Jaipur: Police in Didwana have stepped up their probe into a cross-border smuggling case in which they arrested two arms and drug smugglers on June 27 for supplying Austrian Glock and Chinese Norinco pistols. It has emerged that the case has links to a massive Rs 300-crore heroin consignment seized by Punjab's Amritsar police near the India-Pakistan border in Barmer on June 30. Canada-based Joben Kaler was identified as the main overseas handler of the heroin consignment. Didwana-Kuchaman police ...Read More >
Mumbai: India's largest cooperative bank, Saraswat Cooperative Bank, has sought central bank approval to acquire New India Cooperative Bank Ltd, a senior management official stated on Tuesday. If the Reserve Bank of India (RBI) approves the merger, Saraswat will acquire the target's entire liabilities and assets, bringing relief to thousands of depositors who are unable to access their entire savings after RBI imposed a moratorium on New India from February 13. Gautam Thakur, chairman of Saras ...Read More >
Mumbai: Saraswat Cooperative Bank has announced a voluntary merger with the troubled New India Co-operative Bank, aiming to protect over two lakh depositors and strengthen its position as India's largest urban cooperative bank. The proposal, disclosed by chairman Gautam Thakur at a conference jointly with New India's RBI-appointed administrator Shreekant, comes under the RBI's master directions for voluntary amalgamations.New India was placed under restrictions by the RBI in Feb following misman ...Read More >
New Delhi [India], June 28 (ANI): The Union Ministry of Cooperation is set to organise a 'Manthan Baithak' of Cooperation Ministers of States and Union Territories (UTs) on June 30 at Bharat Mandapam, New Delhi. The Manthan Baithak will be chaired by the Union Home Minister and Minister of Cooperation, Amit Shah. Also Read | Indian Astronaut Shubhanshu Shukla Describes Life on ISS During Video Interaction With PM Narendra Modi, Says 'From Here, We See Sunrise and Sunset 16 Times a Day' (Watch ...Read More >
Mumbai: A sessions court refused to grant interim relief from arrest to former CEO of the New India Co-operative Bank Ltd, Abhimanyu Bhoan, in the bank scam case. The city's Economic Offences Wing (EOW) had registered a case of cheating and criminal breach of trust against Percept Ltd founder-director Harinder Pal Singh, New India Co-operative Bank former chairman Hiren Bhanu and his wife Gauri, bank's former CEO Abhimayu Bhoan, Ranjit Bhanu (deceased) and five others for allegedly causing a los ...Read More >
Mumbai: The Reserve Bank of India (RBI) will ease key provisions in its proposed gold loan framework -- raising the loan-to-value (LTV) ratio and exempting small-ticket borrowers from credit appraisals -- after feedback from non-banking financial companies (NBFCs), cooperative banks, and government departments, governor Sanjay Malhotra said on Friday. Aimed at improving access to formal credit for rural and semi-urban borrowers, the new rules will exempt gold loans up to ₹2.5 lakh from credit a ...Read More >
New Delhi [India] June 6 (ANI): The credit appraisal for small ticket loans up to 2.5 lakh Rupees where gold is given as collateral will not be needed, said Sanjay Malhotra, Governor of the Reserve bank of India (RBI). The RBI Governor said that the regulations on the gold loans were draughted, and final guidelines will be released by Friday evening or at the latest by Monday. Also Read | England vs West Indies 1st T20I 2025 Free Live Streaming Online: How To Watch ENG vs WI Cricket Match Live ...Read More >
New Delhi: The government on Wednesday approved continuation of Modified Interest Subvention Scheme (MISS) for 2025-26 under which farmers get short-term credit at affordable rate through Kisan Credit card (KCC). The decision regarding continuation of MISS for fiscal year 2025-26 with existing 1.5 per cent interest subvention was taken by the Union Cabinet, informed Information and Broadcasting Minister Ashwini Vaishnaw. The continuation of the scheme will cost exchequer Rs 15,640 crore. MISS ...Read More >
Lucknow (Uttar Pradesh) [India], May 19 (ANI): Uttar Pradesh Chief Minister Yogi Adityanath on Monday chaired a crucial review meeting of the Cooperation Department, emphasizing the need to provide easy and affordable loans to small and marginal farmers. During the meeting, the Chief Minister stressed that prosperity will come through cooperation and called for a detailed action plan for the 'Mukhyamantri Krishak Samriddhi Yojana.' He directed the enhancement of loan distribution capacity of co ...Read More >
New Delhi, December 4: In a significant move to enhance customer experience and protect citizens, the Lok Sabha on Wednesday passed the Banking Laws (Amendment) Bill, 2024, which allows bank account holders to have up to four nominees in their accounts. The higher number of nominees aims to reduce unclaimed deposits in banks. Finance Minister Nirmala Sitharaman said that depositors will have the option of successive or simultaneous nomination facility, while locker holders will have only succes ...Read More >
KSEB Chairman and Management Director Biju Prabhakar has painted a grim picture of the finances of the State power utility, observing that it now has to spend ₹900 crore on power purchases and ₹300 crore on loan repayment every month. The observations are part of a note circulated among the officers' associations of the KSEB for their feedback and suggestions. Loans and overdraft together constitute around ₹10,874.26 crore. While the monthly revenue stands at ₹1,750 crore, the expenditure is ₹ ...Read More >
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