MONEY & BANKING


Bar  and   Bench 25 June 2026
The High Court of Justice in London has held that fugitive economic offender Nirav Modi is personally liable to Bank of India more than $11 million (over ₹100 crore) under a 2013 personal guarantee in favour of the bank. (Bank of India v. Firestar Diamond FZE & Ors.)   Deputy High Court Judge...

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Moneylife Digital Team 24 June 2026
The directorate of enforcement (ED) has provisionally attached immovable properties worth ₹35.52 crore in connection with an ongoing money-laundering investigation against Dhanlaxmi Solvex Pvt Ltd (DSPL), its directors and associated entities and individuals.   The attachment has been carried...

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Moneylife Digital Team 23 June 2026
The central bureau of investigation (CBI) has arrested a senior Indian Administrative Services (IAS) officer from Haryana cadre, Pankaj Agarwal, in connection with the alleged diversion of more than ₹60 crore from government accounts maintained with IDFC First Bank, marking a significant...

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Moneylife Digital Team 23 June 2026
Gold loans are rapidly emerging as one of India's fastest-growing retail credit products, with more consumers using their household gold to access formal credit amid rising gold prices, growing liquidity needs and easier access to secured borrowing, according to a new report by Experian...

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Moneylife Digital Team 23 June 2026
Reserve Bank of India (RBI) has imposed penalties totalling ₹7 lakh on three cooperative banks for non-compliance with various regulatory directions issued by the banking regulator. The highest penalty of ₹5 lakh has been imposed on Hutatma Sahakari Bank Ltd from Maharashtra.   The other...

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Moneylife Digital Team 23 June 2026
The central bureau of investigation (CBI) has arrested Reliance Commercial Finance Ltd's (RCFL) former director and chief executive officer (CEO) Devang Mody and Reliance Home Finance Ltd's (RHFL) former executive director and CEO Ravindra Sudhalkar in connection with its ongoing investigation...

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Moneylife Digital Team 22 June 2026
Reserve Bank of India (RBI) has imposed a penalty of ₹3 lakh on Uttar Pradesh-based Sultanpur Jilla Sahkari Bank Ltd for non-compliance with RBI directions relating to membership of credit information companies (CICs) by co-operative banks and know-your-customer (KYC) norms.   The statutory...

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Moneylife Digital Team 22 June 2026
Reserve Bank of India (RBI) has imposed a total penalty of ₹12 lakh on two non-banking financial companies (NBFCs) and one housing finance company (HFC) for failing to comply with regulatory directions issued by the banking regulator.   The penalised NBFCs are: Tamil Nadu-based Five Star...

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Moneylife Digital Team 19 June 2026
The Supreme Court on Friday agreed to examine a public interest litigation (PIL) seeking a court-monitored investigation into an alleged banking fraud involving more than ₹1,500 crore of public-sector bank funds, and the role of asset reconstruction companies (ARCs) in settling the debt at a...

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Moneylife Digital Team 19 June 2026
Reserve Bank of India (RBI) has imposed a penalty of ₹4.10 lakh on five cooperative banks for non-compliance with the directions issued by the banking regulator. The highest penalty of ₹2.10 lakh has been imposed on Nasik Road Deolali Vyapari Sahakari Bank Ltd.   Other banks penalised by RBI...

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Moneylife Digital Team 18 June 2026
Reserve Bank of India (RBI) has cancelled the certificate of registration (CoR) of Gokak, Karnataka-based Shree Mahalaxmi Urban Cooperative Credit Bank Ltd due to inadequate capital and poor earnings prospects. RBI has directed Shree Mahalaxmi Urban Cooperative Credit Bank to cease banking...

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Moneylife Digital Team 16 June 2026
In a major move aimed at protecting bank customers from aggressive sales tactics and misleading marketing practices, the Reserve Bank of India (RBI) has issued a comprehensive framework governing the advertising, marketing and sale of financial products and services by banks. The new rules,...

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Moneylife Digital Team 16 June 2026
Reserve Bank of India (RBI) has imposed a penalty of ₹5 lakh on Bengaluru, Karnataka-based Mahila Cooperative Bank Ltd for non-compliance with guidelines regarding loans and advances granted to directors, their relatives and firms or entities in which they have an interest.   The statutory...

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Moneylife Digital Team 15 June 2026
Reserve Bank of India (RBI) has imposed a total penalty of ₹7.70 lakh on two non-banking financial companies (NBFCs) and one housing finance company (HFC) for failing to comply with regulatory directions issued by the banking regulator.   The penalised NBFCs are Karnataka-based IIFL Samasta...

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Bar  and   Bench 12 June 2026
The Mumbai Bench of the National Company Law Tribunal (NCLT) on Thursday admitted a plea filed by State Bank of India (SBI) to initiate personal insolvency proceedings against Reliance Group Chairman Anil Ambani.   A Bench of Judicial Member Sushil Mahadeorao Kochey and Technical Member...

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Moneylife Digital Team 10 June 2026
Reserve Bank of India (RBI) has cancelled the certificates of registration (CoR) of 135 non-banking financial companies (NBFCs), including 125 entities based in West Bengal, four in Maharashtra, two in Delhi and one each in Madhya Pradesh, Manipur, Tamil Nadu and Telangana.   In a separate...

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SN Thyagarajan (Bar  and   Bench) 10 June 2026
The Madras High Court has acquitted a 90-year-old former Bank of Baroda Chief Manager in a corruption case registered by the Central Bureau of Investigation (CBI) nearly three decades ago, holding that the prosecution had failed to prove its case beyond reasonable doubt (VR Narayanan Vs...

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Bar  and   Bench 09 June 2026
The Bombay High Court on Tuesday refused to pass any interim order restraining HDFC Bank and its top executives from making statements alleged to be defamatory by the Lilavati Kirtilal Mehta Trust (Lilavati Kirtilal Mehta Trust v. HDFC Bank).   The Lilavati Trust and trustee Prashant Mehta...

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Moneylife Digital Team 09 June 2026
Reserve Bank of India (RBI) has imposed a penalty of ₹3.50 lakh on two cooperative banks, one from Haryana and the other from Maharashtra, for non-compliance with the directions issued by the banking regulator. The highest penalty of ₹3 lakh has been imposed on Karnal Central Cooperative Bank...

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Moneylife Digital Team 08 June 2026
Reserve Bank of India (RBI) has imposed a penalty of ₹44.90 lakh on Canara Bank and Puran Associates Pvt Ltd, a non-banking financial company (NBFC), for non-compliance with the directions issued by the banking regulator.    The highest penalty of ₹41.80 lakh has been imposed on Canara Bank....

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