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Mumbai, Mar 30 (PTI) Bank credit to industry grew at faster pace of 13.5 per cent on the fortnight ending February 28, compared with 7.5 per cent in the year-ago period, according to the RBI data released on Monday. The buoyant growth is majorly driven by higher growth in 'infrastructure', 'all engineering', 'chemicals and chemical products', 'petroleum, coal products and nuclear fuels' and 'textiles', said the Reserve Bank of India (RBI). The RBI has released data on sectoral deployment of ba ...Read More >
Palakkad (Kerala), Mar 12 (PTI) A village panchayat clerk was caught red-handed by the VACB in this district on Thursday while allegedly accepting Rs 2,500 as a bribe for issuing a residence certificate, officials said. The accused, Sreejith Gopinath (39), clerk of Puthussery grama panchayat and a native of Akathethara in Palakkad, was arrested near Chullimada, close to the panchayat office, while accepting a bribe from the complainant, Vigilance and Anti-Corruption Bureau (VACB) officials said ...Read More >
Bengaluru-based software professional was forced to sell her flat and two residential plots to meet their demands. As per the report, she was working with a software company and living with her 10-year-old son in a flat in Vignan Nagar. In yet another shocking case of cyber fraud in Bengaluru, a software professional was allegedly trapped in a "digital arrest" and cheated of nearly Rs 2 crore. According to a report by NDTV, the victim, Babita Das, was forced to sell her flat and two residentia ...Read More >
The Supreme Court has granted bail to former DHFL promoters Kapil and Dheeraj Wadhawan. They were arrested in a multi-crore bank loan scam case. The court observed that prolonged custody without trial violates personal liberty. Bail is the rule, jail is the exception in Indian law. NEW DELHI: Observing that an undertrial prisoner should not be placed behind bars indefinitely, the Supreme Court has granted bail to former DHFL promoters Kapil Wadhawan and his brother Dheeraj in a multi-crore bank ...Read More >
A farmer from Maharashtra was forced to travel to Cambodia and sell his kidney as a Rs 1 lakh loan and the Rs 10,000 per day interest caused his debt to balloon to Rs 74 lakh. Roshan Sadashiv Kude, a farmer from the Chandrapur district, was seeing continuous losses in farming and decided to start a dairy business. He took a cumulative loan of Rs 1 lakh from several moneylenders. Even before the dairy business could take off, the cows he had purchased died and the crops on the land he owned fai ...Read More >
NAGPUR: A debt-ridden farmer from a remote village in Chandrapur district was forced to sell his kidney in 2024 in a bid to repay loans taken from moneylenders. The rate of interest charged by the moneylenders was so steep that the farmer Roshan Sadashiv Kude's total liability on loans worth ₹1 lakh has reached ₹74 lakh, and even the ₹8 lakh he had received by selling a kidney was not enough to settle the account, Kude told Hindustan Times. "I lost my kidney to repay the loan. I have nothing le ...Read More >
Bengaluru, Dec 16 (PTI) A 57-year-old woman fell prey to an alleged "digital arrest" scam and lost over Rs 2.05 crore to cybercriminals, who posed as law enforcement officials, police said on Tuesday. 'Digital arrest' is a form of cyber fraud where fraudsters pose as law enforcement officers and threaten people through audio or video calls, forcing them to transfer money online. The woman was also coerced into selling multiple properties and taking bank loans to meet the fraudsters' demands, t ...Read More >
A special court in Port Blair rejected the bail plea of four people, one of them former Andaman and Nicobar Islands MP and Congress leader Kuldeep Rai Sharma, arrested by the ED in a Rs 500 crore cooperative bank "fraud" linked money laundering case, the agency said on Monday. On December 12, the Prevention of Money Laundering Act (PMLA) court dismissed the plea of Sharma, an ex-Chairman of the Andaman and Nicobar State Cooperative Bank (ANSCBL), the bank's managing director, K Murugan, loan of ...Read More >
Mumbai/Pune : Bajaj Finance Ltd., India's largest private sector non-bank lender and part of Bajaj Finserv, today said it had seen a surge in consumption finance during the festive season, disbursing a record number of consumer loans, higher by 27% in volume and 29% in value as compared to the same period last year. The rise in consumption credit, represented by loans for consumer goods, reflects the positive outcome of the government's next generation GST reforms and changes in personal income ...Read More >
Mumbai: The Indian unit of global streaming giant Netflix reported a 63% increase in net profit to ₹85 crore for FY25, according to its filings with the Ministry of Corporate Affairs (MCA), sourced from Tofler. Netflix Entertainment Services India LLP had posted a profit of ₹52 crore in the previous financial year. Revenue from operations grew 32% to ₹3,769 crore from ₹2,846 crore a year earlier, driven by strong subscriber additions through direct acquisitions and bundling partnerships with te ...Read More >
MUMBAI: The Bombay High Court on Friday denied anticipatory bail to a Panvel-based woman accused of fraudulently transferring ownership of another woman's flat into her own name under the guise of advancing a loan. Justice Amit Borkar, while rejecting the plea of Savita Dashrath Babar, observed that the case involved "misuse of confidence and abuse of legal instruments to dispossess a woman of her property." According to the prosecution, the complainant, Guljara Wali Ahmad Maniyar, was in finan ...Read More >
MUMBAI: Rebuilding their lives after the devastation wrought by the recent floods in Marathwada is proving more painful than the farmers had imagined. After losing their homes, standing crops and cattle, and left with fields rendered infertile by waterlogging, farmers say the government, their only source of relief, is offering compensation with too many strings attached. Mincing no words is farmer leader Raju Shetti, president of the Swabhimani Shetkari Sanghatana, "The compensation package is ...Read More >
Patna: A day after Bihar Deputy Chief Minister Vijay Kumar Sinha filed his nomination papers from the Lakhisarai Assembly constituency, his election affidavit has drawn public attention, particularly to the significant difference in assets between him and his wife, Sushila Devi. According to the affidavit submitted to the Election Commission, Vijay Sinha declared movable assets worth Rs 1.01 crore, including Rs 55,000 in cash, Rs 29 lakh in bank deposits, and stock investments exceeding Rs 45 l ...Read More >
New Delhi [India], October 15 (ANI): The much-anticipated festive season may not deliver the usual consumption boost this year, with Ambit Capital warning that weak labour markets, slowing credit, and mounting tariffs could weigh on consumer sentiment despite recent tax cuts.In its latest economic insights report, Ambit Capital said that while GST and income tax reductions are expected to cost the exchequer nearly Rs 2 lakh crore, the impact on demand is likely to be modest. It says tax cuts may ...Read More >
India's gem and jewellery exports have seen an uplift in September and during the first half of the fiscal year, driven largely by increased demand during the festive and wedding period. Key markets such as the UAE, Hong Kong, and the UK reflect promising growth trends. Mumbai, The overall gems and jewellery exports rose by 6.55 per cent in September to USD 2,914.29 million (Rs 25,737.50 crore) despite global headwinds as festive and wedding season demand gains momentum, the Gem and Jewellery E ...Read More >
Pune (Maharashtra) [India], October 9: Bajaj Markets has enhanced its lending portfolio by offering access to more than 20 personal loan providers, giving individuals wider financial choices on a single platform. Also Read | India vs West Indies Best Fantasy Playing XI Prediction for 2nd Test 2025 and Who Will Win IND vs WI Test Match?. With personal loan amounts extending up to ₹55 Lakhs and repayment tenures up to 96 months, the marketplace ensures flexibility for both short-term and long-te ...Read More >
MUMBAI, October 1 (Reuters) -The Indian rupee nudged higher on Wednesday in a modest advance that was still enough to notch its best day in two weeks after the Reserve Bank of India kept policy rates unchanged and the dollar slipped broadly as the U.S. government shut down. The rupee closed at 88.69 against the U.S. dollar, up 0.1% on the day, the most since September 17. The rupee hasn't gained in nine out of the last 10 sessions. Meanwhile the dollar slipped to a one-week low against major pe ...Read More >
New Delhi, Oct 1 (PTI) Mining conglomerate Vedanta Resources has raised USD 500 million through the sale of a seven-year US dollar-denominated bond issue, which was oversubscribed three times. Vedanta Resources Finance II plc, a subsidiary of Vedanta Resources, said in an exchange filing that its USD 500 million bond issue attracted bids exceeding USD 1.6 billion, more than triple the issue size. The net proceeds from the offering will be used to repay existing debt and for general corporate p ...Read More >
KOLKATA: India's external debt rose by 1.5%, or $11.2 billion, in the first quarter to $747.2 billion in this fiscal year, central bank data showed. More than 93% of the debt is covered by the country's foreign-exchange stockpile. On a year-on-year basis, external debt increased by 9.6%, from $681.5 billion in the year-ago period. The external debt to GDP ratio, however, moderated to 18.9% from 19.1% three months ago. The ratio of India's international assets to international liabilities also ...Read More >
Mumbai: The Reserve Bank of India (RBI) has revised its existing rules to make retail loans more flexible, widened the scope for lending against gold and silver collateral, and provide easier capital-raising avenues for banks besides improving credit information systems. Announced through seven directions and circulars on Monday evening, three of these changes will take effect from October 1, while four others have been released for public consultation until October 20, 2025. Draft proposals, me ...Read More >
New Delhi [India], September 30 (ANI): India's external debt stood at USD 747.2 billion at the end of June 2025, marking an increase of USD 11.2 billion over the level recorded at end-March 2025, according to data released by the Reserve Bank of India (RBI) on Tuesday. The data shows that the external debt to GDP ratio moderated slightly to 18.9 per cent at end-June 2025 from 19.1 per cent at end-March 2025. Also Read | School Assembly News Headlines Today, 1 October 2025: Check and Read Impor ...Read More >
Mumbai, Sep 30: 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). Path India Group under scanner 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 ...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 veh ...Read More >
New Delhi: The Reserve Bank of India (RBI) issued new guidelines for small business loans, increasing the lending flexibility for banks, in adjusting the additional interest or spread charged over the loan term. The RBI has also eased lending restrictions for businesses that depend on gold as a raw material. "Banks are generally prohibited from lending for the purchase of gold or silver in any form, or lending against the security of primary gold or silver. However, a carve-out has been allowe ...Read More >
MUMBAI: Vedanta Resources (VRL), the London-based parent of Mumbai-listed resources company Vedanta, plans to raise $500 million through seven-year dollar bonds to refinance a costly private credit facility, further paring debt and simplifying its capital structure. The senior notes, issued via Vedanta Resources Finance II, will be guaranteed by parent VRL and subsidiaries including Twin Star Holdings, Welter Trading, and Vedanta Holdings Mauritius II. The deal, launched under Rule 144A/Reg S, ...Read More >
Mumbai: Tata Capital, among the top three diversified financial services companies owned by India's largest conglomerate, will consider a fresh round of dilution in equity only after two-and-a-half to three years, a top official at the Tata Group entity said. The proposed ₹15,512-crore IPO, which will open for subscription early next week, will result in an 11.21% dilution in the promoter's stake. Tata Group owns 95.8% in the company, and of this Tata Sons holds 88% stake. The proposed IPO is t ...Read More >
MUMBAI: Vedanta Resources (VRL), the London-based parent of Mumbai-listed resources company Vedanta, plans to raise $500 million through seven-year dollar bonds to refinance a costly private credit facility, further paring debt and simplifying its capital structure. The senior notes, issued via Vedanta Resources Finance II, will be guaranteed by parent VRL and subsidiaries including Twin Star Holdings, Welter Trading, and Vedanta Holdings Mauritius II. The deal, launched under Rule 144A/Reg S, ...Read More >
New Delhi: Global rating agency Crisil on Monday projected India's gross domestic product (GDP) to grow 6.5 per cent this fiscal, amid rising private consumption and tax reforms. Rising private consumption should support industrial production. "So far, a copious monsoon, robust kharif sowing and benign inflation have supported the rural economy. The impact of excess rains on agriculture output will be monitorable. The urban economy will get a leg-up from lower lending rates, income tax relief ...Read More >
Bengaluru, 29 September 2025: Axis Bank, one of the largest private sector banks in India, in collaboration with Freecharge, has unveiled Credit on UPI with Gold Loans - India's first gold-backed credit line accessible through the Unified Payments Interface (UPI). This innovative product is designed to unlock the economic potential of gold assets, especially for micro, small and medium enterprises (MSMEs), self-employed entrepreneurs and merchants across both urban and rural India. Credit on UP ...Read More >
Mumbai (Maharashtra) [India], September 29 (ANI): The Reserve Bank of India's Monetary Policy Committee (MPC) is expected to reduce the policy rates by 25 basis points (bps) in its policy announcement on Wednesday, according to a report by Union Bank of India. The report suggested that the downward trend in inflation has created room for such a move, and this cut is being seen as a "booster cut" from the RBI. Also Read | Dhanteras 2025 Rangoli Designs: Easy Rangoli Patterns, Colourful Designs ...Read More >
Stay updated with the latest None news, articles, and insights from trusted sources. Explore in-depth coverage and expert analysis on None topics.