MONEY & BANKING


Moneylife Digital Team 02 June 2026
The directorate of enforcement (ED) has arrested two key accused in separate money laundering investigations involving the alleged embezzlement and diversion of public funds worth nearly ₹790 crore. The cases relate to a ₹645 crore fraud linked to IDFC First Bank and a ₹145 crore scam involving...

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Moneylife Digital Team 02 June 2026
The central bureau of investigation (CBI) has arrested Amitabh Jhunjhunwala, former group managing director (MD) of Reliance Communications Ltd (RCom), in connection with an alleged bank loan fraud that caused a loss of ₹2,929.05 crore to State Bank of India (SBI).   Mr Jhunjhunwala was...

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Moneylife Digital Team 01 June 2026
In a significant ruling on liability in digital banking fraud cases, the Delhi High Court (HC) has held that a bank customer who clicks on suspicious links, despite repeated warnings from banks and regulators can be considered negligent and may have to bear the financial loss arising from cyber...

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Moneylife Digital Team 01 June 2026
Reserve Bank of India (RBI) has imposed a penalty of ₹3.10 lakh on Karnataka-based CreditAccess Grameen Ltd, a non-banking financial company–microfinance institution (NBFC-MFI), for non-compliance with certain provisions of the RBI know-your-customer (KYC) directions.   During its statutory...

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Moneylife Digital Team 29 May 2026
The Reserve Bank of India (RBI) has projected India’s economic growth at 6.9% for FY26-27 while cautioning that geopolitical tensions, elevated energy prices, global trade uncertainty and financial market volatility could weigh on the outlook in the coming months.   In its ‘Annual Report...

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Moneylife Digital Team 28 May 2026
IDFC FIRST Bank has received ₹514.82 crore under the credit guarantee fund for micro units (CGFMU) scheme, an amount that nearly offsets the financial impact of the Chandigarh branch fraud that forced the lender to pay out ₹645 crore earlier this year.   The private sector lender had already...

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Moneylife Digital Team 28 May 2026
India’s insolvency resolution framework continued to face mounting pressure in FY25-26, with lender recoveries under the Insolvency and Bankruptcy Code (IBC) falling sharply and resolution timelines remaining significantly above prescribed limits, says a report. Rating agency ICRA described the...

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Moneylife Digital Team 28 May 2026
Reserve Bank of India (RBI) has imposed penalties totalling ₹6 lakh on three cooperative banks for non-compliance with various regulatory directions issued by the banking regulator.   The banks penalised are: Shree Laxmi Cooperative Bank Ltd from Maharashtra, Jalore Central Cooperative Bank...

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Moneylife Digital Team 26 May 2026
In a case that lays bare the callous treatment ordinary borrowers receive at the hands of India's largest public sector bank, the national consumer disputes redressal commission (NCDRC) has upheld a compensation award of ₹10 lakh against State Bank of India (SBI) — after the lender conveniently...

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Moneylife Digital Team 25 May 2026
Gold loans have emerged as the fastest-growing retail credit segment in India, with outstanding loans surging 50.4% year-on-year (Y-o-Y) to ₹18.6tn (trillion) as of March 2026, according to the latest edition of the ‘How India Lends – Credit Landscape in India’ report released by CRIF High...

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Moneylife Digital Team 25 May 2026
Reserve Bank of India (RBI) has imposed penalties of ₹15.90 lakh on City Union Bank Ltd and two non-banking financial companies (NBFCs) for non-compliance with directions issued by the banking regulator. The highest penalty of ₹10.10 lakh was imposed on City Union Bank.   The NBFCs penalised...

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Moneylife Digital Team 22 May 2026
Reserve Bank of India (RBI) on Friday approved a record surplus transfer of ₹286,588.46 crore to the Union government for FY25-26, providing a major fiscal boost to the government at a time of heightened geopolitical and economic uncertainty. The record surplus transfer also provides additional...

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Moneylife Digital Team 22 May 2026
Reserve Bank of India (RBI) has imposed a penalty of ₹1.80 lakh on Mumbai-based AKG Infin Pvt Ltd, a non-banking financial company (NBFC), for non-compliance with certain directions related to the acquisition of shareholding or control.   During its statutory inspection, RBI observed that AKG...

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Moneylife Digital Team 21 May 2026
The central bureau of investigation (CBI) has filed its first charge-sheet before the special CBI court in Panchkula in connection with the alleged misappropriation of Haryana government funds worth ₹504 crore involving bank officials, public servants and private individuals.   According to...

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Moneylife Digital Team 21 May 2026
Coming down heavily on the Union finance ministry and the Reserve Bank of India (RBI), the Supreme Court (SC) has sought clarity on the process through which the decision to write down the ₹8,415 crore Yes Bank additional tier-1 (AT1) bonds was taken. After hearing detailed submissions from the...

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Moneylife Digital Team 19 May 2026
Reserve Bank of India (RBI) has cancelled the certificate of registration (CoR) of Phaltan, Maharashtra-based Yashwant Cooperative Bank Ltd due to inadequate capital and poor earnings prospects. RBI has directed Yashwant Cooperative Bank to cease banking operations from 19 May 2026, after...

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Moneylife Digital Team 19 May 2026
Reserve Bank of India (RBI) has imposed a penalty of ₹20,000 on Bihar-based Aurangabad District Central Cooperative (DCC) Bank Ltd for non-compliance with directions related to credit information reporting.   The statutory inspection of Aurangabad DCC Bank, conducted by the National Bank for...

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Moneylife Digital Team 18 May 2026
Reserve Bank of India (RBI) has imposed a total penalty of ₹8.90 lakh on Uttar Pradesh-based Appnit Technologies Pvt Ltd and Maharashtra-based IIFL Finance Ltd for non-compliance with various regulatory directions issued by the banking regulator.   Appnit Technologies, a privately held IT and...

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Moneylife Digital Team 18 May 2026
Setting aside a 2020 order of the Mumbai bench of national company law tribunal (NCLT), the national company law appellate tribunal (NCLAT) held that foreign oil and gas assets owned through offshore subsidiaries could not be treated as assets of Videocon Industries Ltd (VIL) for insolvency...

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Moneylife Digital Team 15 May 2026
Reserve Bank of India (RBI) has imposed a penalty of ₹17.80 lakh on two cooperative banks, one from Gujarat and the other from Madhya Pradesh, for non-compliance with the directions issued by the banking regulator. The highest penalty of ₹16.30 lakh has been imposed on Shree Kadi Nagarik...

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