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The Haryana government had decided last month to hand over the probe to the central agency, they said. "We are in the process of taking over," an official in the know of the development said, adding that an FIR will be registered soon on the basis of the case registered by the Haryana State Vigilance and Anti-Corruption Bureau FIR. According to the IDFC First Bank, the alleged ₹590-crore fraud was committed by its employees and others in accounts held by the Haryana government with the privat ...Read More >
Chandigarh, Apr 9 (PTI) The Haryana government has suspended two officers of the Indian Administrative Service (IAS) with immediate effect. In two separate orders issued on Wednesday, the government placed Ram Kumar Singh and Pardeep Kumar under suspension with immediate effect. While no reason was given for their suspension, sources said the action was linked to the ongoing probe into the Rs 590-crore IDFC First Bank fraud case. During the suspension period, both officers -- promoted from the ...Read More >
Mumbai, Apr 8 (PTI) The Reserve Bank on Wednesday said HDFC Bank's board meeting minutes and other records are studied as part of supervision exercise, and reiterated that the largest private sector lender has not been found wanting on ethics and governance. "I would like to reiterate that at no point during our supervision or after examining their records did any governance or conduct-related material issue come to our notice. Under our regular supervision, board minutes are also reviewed. Cop ...Read More >
MUMBAI: India's banking, financial services and insurance sector, one of the most prolific advertisers in the country, delivered a split verdict on media in 2025. It spent less on television, held its nerve in print, turned up the volume on radio and deluged the internet with a ferocity that left every other medium looking pedestrian. The picture that emerges from TAM AdEx's cross-media report for the BFSI sector is of an industry in transition, still wedded to the news bulletin but increasingly ...Read More >
Three days after the arrest of CREST project director Sukhwinder Singh Abrol in the ₹83-crore fraud case, the Chandigarh Police on Wednesday arrested an accountant, Sahil Kukkar, as the probe into the alleged siphoning of funds gained pace. A resident of Sector 78, Mohali, and originally hailing from Fazilka, Punjab, Kukkar joined the investigation on Tuesday. But during interrogation, he failed to clarify or justify multiple transactions amounting to crores that were funnelled into shell fi ...Read More >
The Haryana vigilance and anti-corruption bureau (SV&ACB) has arrested another accused in the ₹145-crore Panchkula municipal corporation FDR fraud case. The case pertains to alleged irregularities in fixed deposit receipts (FDRs) and bank accounts maintained by Panchkula MC at Kotak Mahindra Bank, Sector 11, Panchkula. The accused has been identified as Kapil, a resident of Rajpura, Punjab, into whose account ₹2.36 crore was allegedly transferred into from the Panchkula MC's account. Kapil ...Read More >
Chandigarh: Haryana govt has decided to hand over the probe into the alleged Rs 590-crore fraud and misappropriation of funds linked to its departments and boards by IDFC First Bank to the Central Bureau of Investigation (CBI).Sources said the vigilance wing in the chief secretary's office has forwarded a proposal to the govt to take up the matter with the Union ministry of home affairs (MHA). Investigators from Haryana and the Enforcement Directorate (ED), Chandigarh zone, are already understoo ...Read More >
A local court on Friday granted seven-day police remand of Rajat Dahra, accused of embezzling ₹70 crore of Panchkula Municipal Corporation (MC) funds. The case, being probed by the State Vigilance and Anti-Corruption Bureau (ACB), Haryana, stems from serious discrepancies flagged in ₹145-crore fixed deposits (FDs) maintained by MC with Kotak Mahindra Bank, Sector 11, Panchkula. After lodging an FIR under the Prevention of Corruption Act and provisions of the Bharatiya Nyaya Sanhita on M ...Read More >
Mumbai, March 30 (SocialNews.XYZ) Banking stocks came under heavy selling pressure on Monday, with the Bank Nifty index falling over 2 per cent in the early trade, as the Reserve Bank of India's (RBI) recent measures aimed at supporting the rupee came into effect. All constituents of the Bank Nifty traded in the red, indicating broad-based weakness across the banking pack. The index declined as much as 2.65 per cent, or 1,386.45 points, to 50,888.15, hitting an intraday low around 10:45 a.m. It ...Read More >
Haryana chief minister Nayab Singh Saini informed the state assembly on Tuesday that the entire amount deposited with IDFC First Bank has been recovered, including interest, within 24 hours of the fraud coming to light. Making a statement on the floor of the House immediately after Question Hour, Saini said that by Monday evening, the bank had returned approximately ₹556 crore, which includes ₹22 crore in interest, to government accounts. "The entire amount has been deposited back into our ...Read More >
New Delhi, Feb 23 (PTI) Reserve Bank Governor Sanjay Malhotra on Monday said the central bank is keeping a watch on the development around Rs 590-crore alleged fraud at IDFC First Bank, and assured it was not a "systemic issue". Private sector IDFC First Bank had on Sunday disclosed a Rs 590-crore fraud committed by certain employees and others at a particular branch in Chandigarh in a specific set of Haryana state government accounts. "We are watching the development...there is no systemic is ...Read More >
MUMBAI: The US-based private equity firm Blackstone is set to acquire nearly 10% stake in Federal Bank for Rs 6,196.5 crore. The Kerala-based bank's board approved the proposal on Friday, it now requires shareholder and regulatory clearances, including from RBI and Competition Commission of India. This is the latest instance where an Indian lender has tapped private capital through a large-ticket deal this year. The deal activity has driven debate on whether RBI is taking a more liberal view of ...Read More >
Private banks such as Yes Bank, RBL, DCB, Federal and City Union Bank can rally up to 48%, hint charts. Shares of private banks, mainly Yes Bank and RBL Bank have been in limelight after Japan-based Sumitomo Mitsui Banking Corporation and UAE-based Emirates NBD picked equity stake in these two Indian private banks. Sumitomo Mitsui became the largest shareholder in Yes Bank at 24.99 per cent following the additional stake purchase from SBI and a consortium of seven other shareholders. Over the ...Read More >
MUMBAI (Reuters) -India's foreign exchange reserves are expected to have risen in the week through August 8, according to economists calculations based on the Reserve Bank of India's weekly reserve money release. A $5 billion dollar/rupee swap by the RBI matured that week, with bankers saying the central bank delivered the swap, a move that is a drain on reserves. Further, the RBI intervened in both the onshore spot and non-deliverable forward markets that week to prevent the rupee from slippi ...Read More >
India's Unified Payments Interface (UPI), once a bold experiment in digital public infrastructure (DPI), is now emerging as a global payments powerhouse. In a landmark move, Prime Minister Narendra Modi launched UPI in Trinidad and Tobago, signaling India's growing ambition to expand its fintech footprint across the Global South and beyond. This marks a defining moment in UPI's international journey, as it accelerates toward becoming a competitor to traditional global payment giants. With trans ...Read More >
Pune: The ongoing pre-non-interlocking and non-interlocking works to develop the Hadapsar railway station would affect trains' movement in the Daund-Pune section this week from Thursday till Sunday. A total of 17 trains, including DEMUs from Pune to Daund and Baramati to Pune, Pune-Harangul Express (01487), Harangul-Pune Express (01488), Solapur-Pune Intercity Superfast Express (12169) and Pune-Solapur Intercity Express (12170), would remain cancelled on Sunday (July 20), a railway official said ...Read More >
Mumbai: Sumitomo Mitsui Banking Corp (SMBC) has already applied to India's banking regulator to buy up to a 25% stake in Yes Bank, giving the Japanese lender sufficient headroom to immediately increase its ownership, one person directly aware of the details told ET. In May SMBC had said it will buy 20% from a clutch of local banks for which it had signed an agreement. "The SMBC application pending with the Reserve Bank of India seeks to buy up to a 25% stake in Yes Bank. That is different from ...Read More >
PRNewswire Chandigarh [India], July 15: Chandigarh University, India leading private university, in collaboration with job platform Apna and investment firm Venture Catalysts (VCats) have launched Campus Tank, India first university-led Startup launch-pad for young innovators below the age of 30 to pitch their ideas and get funding of $1 Million to launch their startups along with expert venture guidance, strategic ecosystem alliances and immersive startup incubation. APNA which is India larges ...Read More >
BusinessWire India New Delhi [India], July 15: Dreame Technology, a global leader in smart home appliances, has officially entered the offline retail space in India, through a partnership with Croma, marking a pivotal step in its growth strategy for the market. Following strong demand and consistent success on Amazon India, the brand is now bringing its intelligent cleaning and grooming innovations directly to physical retail--making its products more accessible, experiential, and tangible for ...Read More >
MUMBAI (Reuters) -A slump in India's retail inflation to six-year lows and a likely drop to a record low in July is prompting calls for at least one more interest rate cut this year, with many analysts saying the sharp disinflation is also a sign of weakening demand. The drop in June headline inflation is accompanied by low core inflation, which, excluding gold, silver and fuel prices, remains below 4%, suggesting softer underlying consumption which may need more support from monetary policy, a ...Read More >
New Delhi, July 12: Flipkart GOAT Sale 2025 is now live, unlocking discounts on smartphones, electronics products and gadgets for its customers across India. Starting at midnight on Saturday and will run till July 17. The GOAT sale 2025 is open to everyone as no special membership is needed. While Amazon Prime Day sale 2025 is restricted to Prime members, Flipkart's event allows access to all users. Flipkart Plus members, however, received early access to deals a day earlier, on Friday. From sm ...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: The Nifty Realty index closed on a negative note on Tuesday. Shares of Raymond Ltd.(up 6.71 per cent), Sobha Ltd.(up 1.78 per cent), DLF Ltd.(up 0.68 per cent), Macrotech Developers Ltd.(up 0.53 per cent) and Oberoi Realty Ltd.(up 0.41 per cent) ended the day as top gainers in the pack. On the other hand, Brigade Enterprises Ltd.(down 1.35 per cent), Godrej Properties Ltd.(down 1.23 per cent), Prestige Estates Projects Ltd.(down 1.23 per cent), Phoenix Mills Ltd.(down 0.99 per cent) ...Read More >
NEW DELHI: The Nifty IT index closed on a negative note on Tuesday. Shares of MphasiS Ltd.(up 1.27 per cent) and Infosys Ltd.(up 0.32 per cent) ended the day as top gainers in the pack. On the other hand, Tech Mahindra Ltd.(down 0.94 per cent), Tata Consultancy Services Ltd.(down 0.94 per cent), HCL Technologies Ltd.(down 0.6 per cent), Wipro Ltd.(down 0.54 per cent) and Oracle Financial Services Software Ltd.(down 0.32 per cent) finished as the top losers of the day. The Nifty IT index close ...Read More >
NEW DELHI: The Nifty Auto index closed on a negative note on Tuesday. Shares of Balkrishna Industries Ltd.(up 1.29 per cent), Eicher Motors Ltd.(up 1.05 per cent), Maruti Suzuki India Ltd.(up 0.34 per cent), Ashok Leyland Ltd.(up 0.28 per cent) and Bajaj Auto Ltd.(up 0.28 per cent) ended the day as top gainers in the pack. On the other hand, Bharat Forge Ltd.(down 1.83 per cent), Samvardhana Motherson International Ltd.(down 1.74 per cent), Bosch Ltd.(down 1.12 per cent), TVS Motor Company Ltd ...Read More >
NEW DELHI: The Nifty Pharma index closed on a positive note on Tuesday. Shares of Laurus Labs Ltd.(up 2.93 per cent), Gland Pharma Ltd.(up 2.43 per cent), Biocon Ltd.(up 1.92 per cent), Zydus Lifesciences Ltd.(up 1.27 per cent) and Lupin Ltd.(up 1.19 per cent) ended the day as top gainers in the pack. On the other hand, Abbott India Ltd.(down 2.82 per cent), Ajanta Pharma Ltd.(down 2.78 per cent), J B Chemicals & Pharmaceuticals Ltd.(down 2.01 per cent), Alkem Laboratories Ltd.(down 1.83 per c ...Read More >
Mumbai, July 1, 2025 -- Indian benchmark indices closed marginally higher on Monday, buoyed by banking and financial stocks, even as IT and small-cap shares witnessed some profit booking. The Nifty 50 rose by 24.75 points to settle at 25,541.80, marking a 0.097% gain. The Sensex followed suit, climbing 90.83 points to end at 83,697.29, registering a 0.11% increase. The Bank Nifty outperformed, gaining 0.26% to close at 57,459.45. Also Read: LiveIndia Markets Update: Infibeam Avenues Trades at ...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 >
NEW DELHI: The Nifty Auto index traded positive around 10:09AM(IST)on Tuesday in an upbeat market. Mahindra & Mahindra Ltd.(up 1.07 per cent), MRF Ltd.(up 0.52 per cent), Balkrishna Industries Ltd.(up 0.49 per cent), TVS Motor Company Ltd.(up 0.43 per cent) and Eicher Motors Ltd.(up 0.4 per cent) were among the top gainers. Bosch Ltd.(down 0.53 per cent), Ashok Leyland Ltd.(down 0.37 per cent), Bharat Forge Ltd.(down 0.3 per cent) and Samvardhana Motherson International Ltd.(down 0.18 per cent ...Read More >
New Delhi: Sajjan Jindal-led JSW Paints' Rs 12,915-crore deal to acquire Dutch paint maker Akzo Nobel's India unit is among the biggest transactions in the country so far this year. JSW Paints on Friday announced that it will buy a 74.76 per cent stake in Dulux paint-maker Akzo Nobel India for Rs 8,986 crore, followed by an open offer to buy another 25 per cent from open market for up to Rs 3,929.06 crore, totalling tad over Rs 12,915 crore. It is slightly behind Japan's Sumitomo Mitsui Bankin ...Read More >
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