According to a BusinessWorld article, a governance dispute has emerged at Karnataka Bank Ltd., an old-generation private-sector bank. What began as a routine shareholder vote to confirm board appointments has now turned into a major governance issue. The voting took place through a postal ballot on March 6 to decide on the reappointment of independent…
After Rs.590 crore fraud in Haryana Government Accounts maintained in IDFC First Bank, now another fraud of Rs.116.84 crore has been reported in IDFC First Bank. The Economic Offences Wing (EOW) of Chandigarh Police registered an FIR on Monday after the discovery of “ghost” fixed deposits and financial irregularities worth ₹116.84 crore. The funds are…
A major banking fraud case has come to light in Bengaluru. A private company has allegedly cheated Karnataka Bank Limited of more than ₹121.69 crore. A police case has now been registered against the company’s directors. The fraud is related to the Karnataka Bank branch located in Jayanagar. The accused company, Sri Krishna Shelter Private…
SBI Employee’s Retirement Video Goes Viral, Colleagues Give Emotional Farewell at Kerala Branch A retirement video of an employee of the State Bank of India (SBI) has gone viral on social media. The video shows the quiet and emotional moments of her final day at work after decades in the banking sector. The video was…
As per a report by Bloomberg, State Bank of India (SBI) is currently not ready to process payments for Russian oil. This decision has been taken even after the US government gave a temporary waiver that allows India to continue importing Russian oil. According to people familiar with the matter, SBI is unsure how long…
Police have arrested four people, including the SBI bank manager, in connection with the breaking of a locker at the Sector 15 branch of SBI Bank in Faridabad district without informing the owner. The arrested accused include the then-bank manager, Preeti Kataria, AK Singh, Bhavna Narwal, and vendor Neeraj Sharma. Vendor Neeraj Sharma had filed…
PSU Banks collected Rs.8092 crore as Penalty for Minimum Balance During FY 2022–23 to FY 2024–25, Public Sector Banks (PSBs) have collected ₹8,092.83 crore customers, on account of non-maintenance Minimum Monthly Average Balance (MAB). The amount of ₹8,092.83 crore collected over the last three financial years constitutes approximately 0.23% of the total income of Public…
The Government of India has invoked Essential Commodities Act 1955. This action comes amidst ongoing Israel-Iran war. In this article, we will talk about this act and it’s importance. The Essential Commodities Act, 1955 is an important law enacted by the Government of India to ensure the availability of essential goods to the public at…
A social media post claiming that a Probationary Officer (PO) in Punjab National Bank (PNB) resigned from the job within just one and a half years has sparked discussion about the work culture in the banking sector. The post was shared by a user named Rohan (@rmishra70) on the social media platform X (formerly Twitter)….
IDFC FIRST Bank has released an update regarding the issue that occurred at one of its branches in Chandigarh. The bank informed that it has now paid a total principal amount of ₹645 crore to customers in connection with the incident. Earlier, the bank had estimated the principal amount involved in the case to be…