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HYDERABAD: Film producer Allu Aravind appeared before the Enforcement Directorate in connection with the Ramakrishna Electronics and Ramakrishna Teletronics bank fraud case on Friday. They allegedly diverted around '100 crore they received as loans to other firms. The ED registered an ECIR based on the FIR registered by the Central Bureau of Investigation, Bengaluru following a complaint filed by the Union Bank of India. The ED conducted searches at the two firms in several locations, includin ...Read More >
ISLAMABAD: Indian Deputy Chief of Army Staff Lt Gen Rahul R Singh Friday claimed China used the four-day Pakistan-India conflict in May like a "live lab" to test various weapon systems and was providing all possible support to Islamabad in line with its ancient military strategy of killing the adversary with a "borrowed knife". The senior Indian military officer claimed while Pakistan was the "front face", with China extending all possible support to its all-weather ally, Turkiye was also playin ...Read More >
Hyderabad: Sleuths of the ED on Friday grilled Tollywood producer Allu Aravind in connection with a Rs 101.4 crore bank fraud and a money laundering case linked to Ramakrishna Electronics and Ramakrishna Teletronics (RTPL). Sources said that Aravind was grilled for over three hours, especially regarding his alleged links to Ramakrishna Electronics and Ramakrishna Telotronics, which are accused of securing massive loans from Union Bank of India in 2018-19. The two firms reportedly obtained Rs101 ...Read More >
Mumbai, July 3 (SocialNews.XYZ) The Indian stock markets ended lower on Thursday after a day of cautious trading, as late selling pressure erased earlier gains. Investors remained watchful amid hopes of a possible trade agreement between the US and India. The Sensex touched an intra-day high of 83,850 in early trade but eventually closed 170.22 points or 0.2 per cent lower at 83,239.7. Similarly, the Nifty also slipped by 48.1 points or 0.19 per cent, settling at 25,405.3 by the end of the sess ...Read More >
BENGALURU: The High Court of Karnataka on Tuesday ordered a probe by sleuths of Central Bureau of Investigation (CBI) into alleged financial irregularities in the Karnataka Maharshi Valmiki Scheduled Tribes Development Corporation, falling under the state government, from Special Investigation Team (SIT) probe constituted by the State Government. It is alleged that out of Rs 187 crore earmarked for the projects of the year 2024-25 under the Karnataka Maharshi Valmiki Scheduled Tribes Developmen ...Read More >
Sangareddy (Telangana) [India], July 1 (ANI): Telangana Governor Jishnu Dev Varma has expressed grief over the tragic fire accident that occurred at the Pashamylaram industrial area in Sangareddy district that killed 12 people. The Governor paid condolences to the families of those who lost their lives in the incident and wished a speedy recovery to the injured. Also Read | Rules Changing From July 1, 2025: From LPG Cylinder Prices and Railway Fares to Aadhaar-PAN Link, Check Key Rule Changes ...Read More >
Mumbai: The Nifty PSU Bank Index jumped more than 2.5% Monday after the finance ministry urged these lenders to offer more credit and monetise subsidiaries through IPOs and stake sales. They bucked the declines in the rest of the banking space. The Nifty PSU Bank Index gained 2.7%, while the Bank Nifty and benchmark Nifty lost 0.2% and 0.5%, respectively. All 12 stocks in the PSU Bank index closed higher. Bank of Maharashtra soared 5.3% while Punjab National Bank and Bank of Baroda rallied 3.9 ...Read More >
Srinagar- Chief Minister Omar Abdullah on Monday inaugurated a buyer-seller meet here to empower local artisans and boost the economy. "The Chief Minister inaugurated the Buyer-Seller Meet at SKICC today. The initiative aims to empower artisans and strengthen the local economy by creating direct market linkages and promoting local products. The meet is hosting 15 international and 30 national buyers," Omar posted on his official X handle. Talking to reporters later, Omar said the effectiveness ...Read More >
Lucknow: A special CBI court in Ghaziabad on Monday convicted four people, including a banker, in Rs 50 lakh bank fraud case, involving fake documentation and fraudulent loan disbursal.While Manoj Srivastava the branch manager of Union Bank of India was awarded three years of imprisonment and a fine of Rs 3 lakh, Deepak Malhotra, the proprietor of Girdhari Lal & Sons, was given five years of rigorous imprisonment along with a fine of Rs 14 lakh.Two other accused, Raj Kumar Samanta and Rakesh Kum ...Read More >
Mumbai, June 30 (SocialNews.XYZ) After rising for four straight sessions, the Indian stock markets took a breather on Monday as investors booked profits amid the absence of strong domestic cues. The Sensex dropped 452 points, or 0.54 per cent, to close at 83,606.46. During the day, it moved between an intra-day high of 84,099.53 and a low of 83,482.13. Nifty also followed suit. The 50-share index opened at 25,661.65, touched a high of 25,669.35, and closed at 25,517.05, down by 120.75 points o ...Read More >
MUMBAI: In an important development, a special PMLA (Prevention of Money Laundering Act) court on June 25 allowed restoration of assets ₹952 crore attached by the Enforcement Directorate (ED) in a money laundering case against Infrastructure Leasing & Financial Services Ltd (IL&FS), its group companies, and associated entities. The property - Surat-based plant of Vadraj Cement Limited - would be restored to Nuvoco Vistas Corporation Ltd, which has taken over the defunct company through a resolut ...Read More >
MUMBAI (Reuters) -India's current account posted a surplus for the first time in four quarters in the January-March period, helped by higher services exports, the central bank said on Friday. The current account surplus stood at $13.5 billion, or 1.3% of GDP in the fourth quarter of the fiscal year 2024-2025 versus the polled estimate of $8.5 billion, or 0.9% of GDP. The surplus compares with a deficit of $11.3 billion or 1.1% of GDP in the preceding quarter, the Reserve Bank of India said in ...Read More >
MUMBAI (Reuters) -India's current account posted a surplus for the first time in four quarters in the January-March period, helped by higher services exports, the central bank said on Friday. The current account surplus stood at $13.5 billion, or 1.3% of GDP in the fourth quarter of the fiscal year 2024-2025 versus the polled estimate of $8.5 billion, or 0.9% of GDP. The surplus compares with a deficit of $11.3 billion or 1.1% of GDP in the preceding quarter, the Reserve Bank of India said in ...Read More >
NEW DELHI: The recent policy actions by the Reserve Bank of India (RBI) appear to mark the end of the current interest rate cutting cycle, according to a report by Union Bank of India. The report states that the terminal repo rate is now likely to settle at 5.50 per cent, assuming a real interest rate of around 150 basis points and an inflation forecast of 4 per cent for the financial year 2025-26. It said, "We believe that this stealth easing concludes the rate cutting cycle for now with termi ...Read More >
Mumbai (Maharashtra) [India], June 6 (ANI): The Reserve Bank of India (RBI) Governor Sanjay Malhotra is set to announce the policy repo rate today at 10 AM in Mumbai, as the three-day Monetary Policy Committee (MPC) meeting comes to a close. This policy meeting comes at a time when inflation in the country has been steadily declining. According to the Ministry of Statistics and Programme Implementation, India's retail inflation fell to 3.16 per cent in April, compared to 3.34 per cent in March. ...Read More >
Mumbai: The Reserve Bank of India (RBI) Governor Sanjay Malhotra is set to announce the policy repo rate today at 10 AM in Mumbai, as the three-day Monetary Policy Committee (MPC) meeting comes to a close. This policy meeting comes at a time when inflation in the country has been steadily declining. According to the Ministry of Statistics and Programme Implementation, India's retail inflation fell to 3.16 per cent in April, compared to 3.34 per cent in March. The decline in inflation has broug ...Read More >
Mumbai (Maharashtra) [India], June 6 (ANI): The Reserve Bank of India (RBI) Governor Sanjay Malhotra is set to announce the policy repo rate today at 10 AM in Mumbai, as the three-day Monetary Policy Committee (MPC) meeting comes to a close. This policy meeting comes at a time when inflation in the country has been steadily declining. According to the Ministry of Statistics and Programme Implementation, India's retail inflation fell to 3.16 per cent in April, compared to 3.34 per cent in March. ...Read More >
NEW DELHI: Former head of Air India and chairman of the Railway Board Ashwani Lohani is the new Prime Ministers Museum and Library (PMML) director. The official order for his appointment was issued on Wednesday. A 1980-batch officer of the Indian Railway Service of Mechanical Engineering (IRSME), Lohani is known for turning around various organisations during his illustrious career. Following his retirement from IRSME service, he joined the GMR Group as the CEO. According to the order dated Ju ...Read More >
Mumbai June 6: The Reserve Bank of India (RBI) Governor Sanjay Malhotra is set to announce the policy repo rate today at 10 AM in Mumbai, as the three-day Monetary Policy Committee (MPC) meeting comes to a close. This policy meeting comes at a time when inflation in the country has been steadily declining. According to the Ministry of Statistics and Programme Implementation, India's retail inflation fell to 3.16 per cent in April, compared to 3.34 per cent in March. The decline in inflation has ...Read More >
Mumbai (Maharashtra) [India], June 6 (ANI): The Reserve Bank of India (RBI) Governor Sanjay Malhotra is set to announce the policy repo rate today at 10 AM in Mumbai, as the three-day Monetary Policy Committee (MPC) meeting comes to a close. This policy meeting comes at a time when inflation in the country has been steadily declining. According to the Ministry of Statistics and Programme Implementation, India's retail inflation fell to 3.16 per cent in April, compared to 3.34 per cent in March. ...Read More >
Bengaluru: Fugitive liquor baron Vijay Mallya approached the Karnataka High Court on Wednesday seeking direction to banks to provide details of the total amount recovered against loans obtained by him, United Breweries Holdings Limited (UBHL, now in liquidation). Considering the plea, the High Court has issued notices to concerned banks in this regard. The bench headed by Justice R. Devadas passed the order issuing notices to banks, and recovery officers and adjourned the matter till February ...Read More >
Adani Group's listed stocks, which at one point saw as much as $34 billion wiped off their market value, meanwhile recovered ground as some partners and investors rallied behind it. State Bank of India will not stop lending to ongoing Adani projects that are nearing completion, two sources told Reuters, but will exercise caution when disbursing loans to ensure all terms and conditions are being met. Bank of India, Union Bank, ICICI Bank, Canara Bank, IDBI Bank and RBL Bank, which have relative ...Read More >
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