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New Delhi: Crude oil prices are unlikely to decline to USD 70 per barrel this year and are expected to remain in the range of USD 80-85 per barrel in 2026, according to a report by Union Bank of India. The report noted that while oil prices may moderate from current elevated levels, a sharp decline is unlikely given ongoing global uncertainties. Click here to track live developments on Iran war "We do not think oil will get back to USD 70 this year... our base case for oil price is USD 80-85 ...Read More >
New Delhi: Crude oil prices are unlikely to decline to USD 70 per barrel this year and are expected to remain in the range of USD 80-85 per barrel in 2026, according to a report by Union Bank of India. The report noted that while oil prices may moderate from current elevated levels, a sharp decline is unlikely given ongoing global uncertainties. Click here to track live developments on Iran war "We do not think oil will get back to USD 70 this year... our base case for oil price is USD 80-85 ...Read More >
Mumbai: Union Bank of India released its provisional business update for the fourth quarter, showing steady growth across key segments. The bank's total global business rose 5.79 percent year-on-year to Rs 23.85 lakh crore. On a sequential basis, it increased by 6.52 percent. This indicates stable expansion despite changing market conditions. Deposits Show Moderate Increase The bank's global deposits stood at Rs 13.06 lakh crore. This marks a 2.72 percent increase compared to last year and a ...Read More >
Anil Ambani and Reliance Communications are under renewed scrutiny as the CBI launches a fresh investigation into allegations of a Rs 3,750 crore fraud against the Life Insurance Corporation (LIC) involving Non Convertible Debentures. Photograph: Prashant Waydande/ReutersKey PointsThe CBI has filed a new case against Anil Ambani and Reliance Communications for allegedly defrauding LIC of Rs 3,750 crore.The case involves alleged conspiracy, cheating, misappropriation, and violations of the Preve ...Read More >
New Delhi: The Central Bureau of Investigation Wednesday registered a case against Reliance Communications Ltd (RCom), Anil Ambani, unknown public servants, and unknown others on allegations of causing wrongful loss of Rs 3,750 crore to Life Insurance Corporation (LIC) of India. The case has been registered based on a complaint received from Life Insurance Corporation of India Ltd. for offences of conspiracy, cheating, misappropriation, and offences under the Prevention of Corruption Act, accor ...Read More >
New Delhi: The Central Bureau of Investigation on Wednesday registered a case against Reliance Communications Ltd (RCom), Anil Ambani, unknown public servants, and unknown others on allegations of causing wrongful loss of Rs 3,750 crore to Life Insurance Corporation (LIC) of India. The case has been registered on the basis of a complaint received from Life Insurance Corporation of India Ltd. for offences of conspiracy, cheating, misappropriation, and offences under the Prevention of Corruption ...Read More >
The Insolvency and Bankruptcy Board of India has suspended Hitesh Goel, an insolvency professional, for two years due to mishandlings during the insolvency process of Supertech Ltd and Nobility Estates. The decision followed his failure to disclose key details and meet procedural timelines, affecting stakeholders and homebuyers. The Insolvency and Bankruptcy Board of India (IBBI) has revoked Hitesh Goel's registration as an insolvency professional for two years. This decision comes after the IB ...Read More >
Mumbai: Banks, with the largest collective weighting on Nifty, slumped Monday after the RBI Friday ordered net-position curbs on lenders to underpin the rupee that in FY26 lost the most in 14 years. All 14 constituents of the Bank Nifty lost, dragging the benchmark Nifty more than 2% lower. The Bank Nifty, meanwhile, retreated 3.8% to 50,275.35 - the lowest closing since April 9, 2025 - after the central bank set a $100 million end-of-day net position threshold for lenders. The newly-introduced ...Read More >
Mumbai: Nifty Bank has recorded its worst monthly performance in six years, with the index falling more than 16 percent in March. This is the steepest decline since March 2020, when markets had crashed during the COVID-19 outbreak. What makes this fall significant is that every single one of the 14 stocks in the index declined, and all losses were in double digits. The fall ranged between 11 percent and 22 percent, showing broad-based weakness across the banking sector. Heavy Losses in Large B ...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 >
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 >
MUMBAI: Home loan rates are set to drop to levels last seen before the global financial crisis in 2008, with the RBI's monetary policy committee reducing the repo rate by 25 basis points to 5.25%.Several banks -- Union Bank, Bank of India, Bank of Maharashtra and Indian Overseas Bank -- currently offer home loans at 7.35%. Borrowers at this rate will see their interest rate decline to 7.1%, which is also the deposit rate offered by some private banks. On a Rs 1 crore home loan for 15 years, a 0. ...Read More >
Hyderabad: The Enforcement Directorate Hyderabad zonal office on Friday attached movable and immovable properties worth ₹12.6 crore belonging to Sahiti Infratec Ventures India Private Limited (SIVIPL), its former director Sandu Purnachandra Rao, his family members, and associated entities under the Prevention of Money Laundering Act.The action follows investigations triggered by multiple FIRs filed by Telangana police against SIVIPL and its promoters, based on complaints from investors alleging ...Read More >
MUMBAI: The Enforcement Directorate (ED) has provisionally attached movable and immovable assets valued at ₹67.79 crore in connection with its money laundering investigation against M/s Corporate Power Limited and its promoters-directors Manoj Jayaswal, Abhijeet Jayaswal, Abhishek Jayaswal, and others. The attachment, made under provisions of the Prevention of Money Laundering Act (PMLA), 2002, includes bank balances, land parcels, buildings, flats and commercial spaces spread across Maharashtr ...Read More >
New Delhi, Oct 19: India's retail inflation is expected to decline further in October 2025, driven by a high base effect, delayed seasonality in food prices, and the full impact of recent GST reforms, according to a report by Union Bank of India. The report anticipates only a gradual pickup in price pressures in the months ahead. "Our projection for Oct CPI is tracking below 0.50 per cent as on date. Food inflation too is expected to fall sharply in Oct and continue to be in negative zone duri ...Read More >
New Delhi [India], October 19 (ANI): India's retail inflation is expected to decline further in October 2025, driven by a high base effect, delayed seasonality in food prices, and the full impact of recent GST reforms, according to a report by Union Bank of India. The report anticipates only a gradual pickup in price pressures in the months ahead. "Our projection for Oct CPI is tracking below 0.50 per cent as on date. Food inflation too is expected to fall sharply in Oct and continue to be in ...Read More >
New Delhi [India], October 1 (ANI): The medium-term outlook for the Indian rupee remains tilted to the downside unless there is relief from the persistent twin deficit, current account and fiscal deficit, according to a report released by Union Bank of India. The report noted that while reversal in flows may temporarily hide the fair value of the rupee, structurally the bias continues to be for gradual depreciation. It stated, "Near-term price action may be choppy, but the medium-term slope fo ...Read More >
New Delhi, Sep 30 (SocialNews.XYZ) The government has cleared the appointment of Asheesh Pandey as Managing Director and Chief Executive Officer of Union Bank of India, and Kalyan Kumar as the new head of Central Bank of India. Both appointments are for a period of three years. The Appointments Committee of the Cabinet, chaired by Prime Minister Narendra Modi, approved the appointments. Pandey, who is currently serving as Executive Director of Bank of Maharashtra, will take charge as MD and CE ...Read More >
Self-styled godman Chaitanyananda Saraswati faces five days of police custody. He was arrested in Agra for molesting female students at a Vasant Kunj institute. Saraswati, a former college chairman, allegedly created a zone of fear in the hostel. He used remote CCTV access and tampered with DVR systems. Financial misconduct charges also emerged against him. Delhi's Patiala House Court on Sunday remanded self-styled godman Parthasarathy alias Chaitanyananda Saraswati to five days of police custo ...Read More >
New Delhi, Sep 29 (PTI) Oyster Green Hybrid Three, a subsidiary of Oyster Renewable Energy, has received a loan worth Rs 1,844 crore for its 342 MW hybrid power project in Madhya Pradesh. The company has achieved the financial closure for the solar-wind hybrid power project from Union Bank of India with a tenure of around 20 years, marking one of the largest debt financings for a hybrid renewable project in the state, Oyster Renewable Energy said in a statement on Monday. The co-located solar- ...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 >
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. It stated "Our baseline view is of a 25bps repo rate cut in this meeting. The view is ...Read More >
NEW DELHI: After around 50 days on the run, Chaitanyananda Saraswati, alias Parthasarathy, former director of a management institute who is facing allegations of sexual harassment and fraud, was tracked to a hotel in Agra around 3.30am Sunday and arrested by Delhi Police. Saraswati was brought back to Delhi early in the day and produced before court at 3.40pm. Duty magistrate Ravi sent him to five days of police custody. Cops also seized his visiting cards, which described him as "Special Envoy ...Read More >
New Delhi, September 28: In a major breakthrough against cyber-enabled financial fraud, the Delhi Police Crime Branch's Cyber Cell has arrested a key accused linked to a pan-India crypto investment racket that defrauded a victim of nearly Rs 34 lakh, police officials said on Sunday. Officials said the accused, Naresh Kumar of Haryana's Karnal, was apprehended for acting as a professional "account provider" to organised cyber fraud syndicates operating under the name Coin-Ex Crypto Trading. Digi ...Read More >
Jaipur (Rajasthan) [India], September 27 (ANI): Union Law and Justice Minister Arjun Ram Meghwal on Saturday lauded Prime Minister Narendra Modi for the swift implementation of the Goods and Services Tax (GST) reforms that have lowered the slab to five per cent on several goods. "The effect of GST 2.0, the next-gen GST reforms, can be seen in the markets. The customers are curious and asking questions while the shopkeepers are explaining it (GST rates) to them. This has become a reality, and we ...Read More >
New Delhi: A Delhi court on Friday dismissed the anticipatory bail plea of Chaitanyananda Saraswati, alias Parthasarathy, in a case of alleged cheating, forgery and criminal conspiracy. He also faces a case of allegedly sexually harassing 17 female students at a private institute in Delhi, called Sri Sharada Institute of Indian Management Research, where he was the director. Chaitanyananda is on the run. Police said they have frozen approximately Rs 8 crore across 18 accounts and 28 fixed deposi ...Read More >
Dehradun (Uttarakhand) [India], September 26 (ANI): Uttarakhand Chief Minister Pushkar Singh Dhami participated in an awareness program organised in Patel Nagar, Dehradun, on Friday as part of the 'GST Bachat Utsav.' During the event, the Chief Minister interacted with traders and local residents to gather feedback on the benefits of the reduced GST rates. He stated that under the leadership of Prime Minister Narendra Modi, a new era of economic reforms has commenced in the country, and the red ...Read More >
Dehradun (Uttarakhand) [India], September 26 (ANI): Uttarakhand Chief Minister Pushkar Singh Dhami participated in an awareness program organised in Patel Nagar, Dehradun, on Friday as part of the GST Bachat Utsav. During the event, the Chief Minister interacted with traders and local residents to gather feedback on the benefits of the reduced GST rates. He stated that under the leadership of Prime Minister Narendra Modi, a new era of economic reforms has commenced in the country, and the reduc ...Read More >
Dehradun (Uttarakhand) [India], September 26 (ANI): Uttarakhand Chief Minister Pushkar Singh Dhami participated in an awareness program organised in Patel Nagar, Dehradun, on Friday as part of the "GST Bachat Utsav." During the event, the Chief Minister interacted with traders and local residents to gather feedback on the benefits of the reduced GST rates. He stated that under the leadership of Prime Minister Narendra Modi, a new era of economic reforms has commenced in the country, and the red ...Read More >
Ballari: Just when it seemed that the Karnataka Maharshi Valmiki Scheduled Tribe Developmental Corporation (KMVSTDC) scandal case was over, it has taken a new turn. In connection with the case, CBI officials raided the residence of corporator Govindaraju in Ballari on Monday. The CBI raid took place while supporters of MLA Nagendra were performing rituals at his home on his birthday. The court handed over the scam to the CBI.As part of the investigation, CBI officials conducted a raid in Ballari ...Read More >
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