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Indian businessman B.R. Shetty, one of the well-known entrepreneurs in the UAE, has suffered a major setback after the Dubai International Financial Centre (DIFC) Court has ordered him to pay 168.7 million dirhams (around Rs. 408 crore) to the State Bank of India's DIFC branch. The court found that Shetty had lied under oath. He had denied signing a personal guarantee for a loan worth 183.5 million dirhams, but the court ruled that evidence clearly proved he had signed it. In a judgment issued ...Read More >
An SBI research report indicates that the Pradhan Mantri Awas Yojana-Urban 2.0 (PMAY-U 2.0) is driving a significant shift in digital payment behavior. The Pradhan Mantri Awas Yojana-Urban 2.0 (PMAY-U 2.0) is not only fulfilling the dream of home ownership for millions of urban poor and middle-class families but is also driving a remarkable transformation in digital payment behaviour, noted a research report from the State Bank of India (SBI). Add Asianet Newsable as a Preferred Source The sc ...Read More >
Shimla: Congress general secretary Priyanka Gandhi Vadra on Monday accused the Union government of not providing adequate help to disaster-hit Himachal Pradesh, claiming that the Centre was "ignoring" states ruled by the Congress. She made the remarks during a rally that followed after a statue of six-time Himachal Pradesh chief minister Virbhadra Singh was unveiled by senior Congress leader Sonia Gandhi at Daulat Singh Park on the historic Ridge Ground in Shimla. "After Sukhvinder Sukhu becam ...Read More >
Shimla (Himachal Pradesh) [India], October 15 (ANI): Himachal Pradesh Chief Minister Sukhvinder Singh Sukhu on Wednesday was presented a cheque worth Rs 1 crore from YS Guleria of TVS Motors, as a contribution towards the Chief Minister's Relief Fund, according to an official release. The Chief Minister thanked this noble gesture and said that such contributions went a long way in helping those in need. Also Read | Bihar Assembly Elections 2025: No Muslim Candidate in JD(U)'s First List. He a ...Read More >
Mumbai (Maharashtra) [India], October 10 (ANI): The Indian stock market on Friday ended on a strong note, driven by fresh foreign portfolio investors buying over the past three sessions. At the end of the trading session today, BSE Sensex was up 328.72 points or 0.40 per cent at 82,500.82, and the Nifty 50 at National Stock Exchange (NSE) was up 103.55 points or 0.41 per cent at 25,285.35. In today's session, sectors such as realty, energy, and consumer durables traded higher, showing strength ...Read More >
Setty said the lender needs to get the 'collections piece right' on the small value loans before rolling out other products on the UPI State Bank of India's (SBI's) chairman CS Setty on October 8 said that the lender is working on the simplification of Know Your Customer (KYC) and re-KYC and will engage with the regulators and the government. "We are working on that, the simplification of KYC processes. Even if it means that we need to engage with the regulators and the government, we are taki ...Read More >
A private jet skidded off the runway and crashed into bushes at the Mohammadabad airstrip on Thursday, officials said. All passengers and the two pilots escaped unhurt. According to district officials, the jet, belonging to Jet Service Aviation Pvt Ltd and bearing registration number VT-DEZ, lost control while taking off and veered off the runway into shrubs around 10.30 am. The jet was carrying the managing director of a beer factory under construction in the district's industrial area, who h ...Read More >
Farrukhabad: A private aircraft crashed moments after take-off at Mohammadabad airport on Thursday. However, no casualties were reported in the incident. Police said the aircraft had six occupants including two pilots all of whom survived the crash. District Magistrate Ashutosh Kumar Dwivedi said all those on board the aircraft are safe. He said the aircraft had arrived from Bhopal with officials who inspected an under-construction beer factory at Farrukhabad. Manish Kumar Pandey, UP Project H ...Read More >
Mumbai: State Bank of India chairman CS Setty called upon policymakers, fintech developers and technology developers to think about ways to simplify the know your customer (KYC) process, which he termed one of the biggest challenges for banks as well as customers. Banks employ KYC to onboard customers and simplifying the process is important for a large number of people who are joining mainstream banking. "I think one (of the) biggest subjects both on the customer side and the bank side... it' ...Read More >
Mumbai: The long transition provided to banks on the new expected credit loss (ECL) provision guidelines will limit the impact on bank balance sheets, State Bank of India (SBI) chairman CS Setty said Wednesday. The comments came a day after the Reserve Bank of India (RBI) issued a draft circular on the ECL framework, which will replace incurred-loss-based provisioning framework that banks use currently. The central bank has proposed 100% provisions against unsecured loans after one year of the ...Read More >
Mumbai, Oct 7 (PTI) The Reserve Bank on Tuesday said bill payment system Bharat Connect has been linked with foreign exchange retail platform, enabling individual customers to buy US dollars in the form of currency notes, forex card load or for outward remittances at competitive prices. With the linkage, customers will be able to access USD through their preferred payment/banking apps integrated with the Bharat Connect or Bharat Bill Payment System (BBPS) platform. Currently, five lenders -- A ...Read More >
A 63-year-old man in Hyderabad was allegedly cheated out of ₹43 lakh by cyber fraudsters who lured him into a fake online share trading scheme. The victim was initially contacted via WhatsApp by someone claiming to represent a private financial institution. The individual offered opportunities to invest in IPO allotments and participate in share trading, promising high returns. According to Hyderabad cybercrime officials, the fraudsters used convincing tactics to gain the victim's trust. They ...Read More >
Hero Future Energies secured Rs 1,908 crore from State Bank of India and Canara Bank. These funds will develop and construct a 120 MW renewable hybrid project in Kurnool, Andhra Pradesh, integrating wind, solar, and storage technologies. This funding ensures timely project execution and commercial operation with a 21-year repayment period. Hero Future Energies on Monday said it has secured Rs 1,908 crore in funding from public lenders State Bank of India and Canara Bank. These funds will be ut ...Read More >
The Bombay High Court dismissed Anil Ambani's writ petition challenging the State Bank of India's decision to classify Reliance Communications' loan account as 'fraud'. The court found the plea lacked merit, upholding SBI's action taken on June 13, 2025, in accordance with RBI guidelines. Ambani's counsel had argued against an incomplete report and selective show-cause notices. The Bombay High Court on Friday dismissed a writ petition filed by Anil Ambani against the State Bank of India (SBI), ...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 ...Read More >
New Delhi, Oct 2 (SocialNews.XYZ) Inflation in India during the current financial year and the next (FY26 and FY27) is expected to be much lower than the Reserve Bank of India's (RBI) projections, according to a report by the State Bank of India (SBI). The report argued that the central bank's approach should not be seen only as "monetary policy" but also as a broader "regulatory policy" that reflects India's unique economic conditions. SBI highlighted that several domestic factors are easing ...Read More >
Mumbai, Oct 1 (PTI) Equity benchmark indices rebounded sharply on Wednesday after an eight-day slump, with the Sensex jumping 715.69 points, helped by buying in bank and financial stocks after the RBI left key interest rates unchanged and revised upward its growth estimates for the current fiscal to 6.8 per cent. The 30-share BSE Sensex jumped 715.69 points or 0.89 per cent to settle at 80,983.31. During the day, it surged 800.81 points or 0.99 per cent to 81,068.43. The 50-share NSE Nifty cli ...Read More >
Mumbai: In a bid to improve credit flow, the Reserve Bank on Wednesday said it would provide an enabling framework for Indian banks to finance acquisitions by Indian corporates. This has been a long-pending demand of Indian banks. Recently, the State Bank of India Chairman C S Setty also made a strong case for permitting banks to provide funding for mergers and acquisitions, as done by global lenders. "To start with, we will make a formal request from the IBA (to the RBI)... at least start with ...Read More >
Benchmark stock indices Sensex and Nifty closed marginally lower in a volatile session on Monday, extending their downtrend to the seventh day, as bank stocks were dragged by persistent foreign fund outflows ahead of the RBI's interest rate decision later this week. Photograph: Hemanshi Kamani/Reuters After gyrating between gains and losses in a restricted trade, the 30-share BSE Sensex declined 61.52 points or 0.08 per cent to settle at 80,364.94. During the day, it hit a high of 80,851.38 a ...Read More >
Mumbai, Oct 1 (SocialNews.XYZ) The Indian benchmark indices opened with mild gains on Wednesday, as investors await the decision of the Reserve Bank of India's (RBI) monetary policy decision. As of 9.30 am, the Sensex was up 144 points, or 0.18 per cent at 80,412, and the Nifty advanced 17 points, or 0.07 per cent at 24,628. The broad cap indices, Nifty Midcap 100 and Nifty Smallcap 100, inched up 0.52 and 0.29 per cent, respectively. Shriram Finance, Tech Mahindra, Trent and Tata Consumer Pro ...Read More >
Bengaluru: Congress President Mallikarjun Kharge was admitted to MS Ramaiah Hospital in Bengaluru after developing a fever late Tuesday night, sparking concern among party workers and political leaders across the country. Doctors at the hospital are closely monitoring his condition and have assured that there is no immediate cause for alarm. Kharge, 83, was reportedly brought to the renowned medical facility after he complained of persistent fever. A medical team quickly initiated a series of d ...Read More >
New Delhi: The festive season is here and with it comes a series of bank holidays across India as per the RBI calendar. While some holidays apply nationwide, others are observed only in specific states. This week, banks will remain closed in parts of the country to mark Durga Puja, Navratri, and Gandhi Jayanti. Today, October 1, is a holiday in several regions for Navratri End, Maha Navami, Dussehra, Ayudhapooja, and Vijayadasami -- the ninth day of the Hindu festivals of Durga Puja and Navratri ...Read More >
New Delhi [India], October 1 (ANI): Delhi Police arrested two members of a cyber fraud gang posing as recruiters for Indigo Airlines on Tuesday. This case came to light when the complainant, Rohit Yadav, filed an online complaint through the NCRP portal regarding the cheating of Rs. 24,100 under the pretext of being offered a job at Indigo Airlines. In his statement, Rohit mentioned that he saw a job advertisement on his Facebook account. He called the mobile number provided in the ad and subs ...Read More >
New Delhi [India], October 1 (ANI): Delhi Police arrested two members of a cyber fraud gang posing as recruiters for Indigo Airlines on Tuesday. This case came to light when the complainant, Rohit Yadav, filed an online complaint through the NCRP portal regarding the cheating of Rs. 24,100 under the pretext of being offered a job at Indigo Airlines. In his statement, Rohit mentioned that he saw a job advertisement on his Facebook account. He called the mobile number provided in the ad and subs ...Read More >
Mumbai: The market for unlisted shares, long seen as a sure bet, is facing a reality check. In recent months, marquee names such as Tata Capital and HDB Financial Services have set initial public offering (IPO) price bands significantly below their unlisted market levels, denting investor sentiment and forcing a rethink on how companies are valued in this unregulated space. These instances have dried up the demand for even some of the most popular unlisted companies, while their shares have mos ...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 Indi ...Read More >
Mumbai (Maharashtra) [India], September 30: Lumina Datamatics, a strategic partner to global publishers and eCommerce retailers, is delighted to announce that it has been recognized as one of the Most Preferred Workplaces for Women 2025-26 by Marksmen Daily at the 2nd Edition of the Most Preferred Workplaces in IT, ITES & Women Awards 2025-26. The award ceremony was held on September 26, 2025, at Novotel Mumbai. Also Read | Will Lionel Messi Play Tonight in Inter Miami vs Chicago Fire MLS 2025 ...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, Sep 30 (PTI) Pharmaceutical company Virupaksha Organics has filed preliminary papers with capital markets regulator Sebi to raise Rs 740 crore through an initial public offering (IPO). The proposed IPO of the Hyderabad-based company is entirely a fresh issue of equity shares, according to the draft red herring prospectus (DRHP) filed on Monday. The company may consider raising Rs 148 crore in a pre-IPO placement round. If such placement is undertaken, then the issue size will be red ...Read More >
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