The Directorate General of GST Intelligence (DGGI) is investigating a major multi-crore online betting fraud and has reportedly found the involvement of Fino Payments Bank and its CEO, Rishi Gupta, in onboarding dummy programme managers and shell entities linked to illegal online gaming operations. These details were presented by DGGI before a local court while…
DFS conducts review meeting of PSU Banks Department of Financial Services (DFS) chaired a review meeting with senior officials, Public Sector Banks and the Insolvency and Bankruptcy Board of India (IBBI) to track progress of major IBC cases pending at the National Company Law Tribunal (NCLT). Key Highlights of Meeting 20 high-value accounts resolved this…
Is Bank of Baroda not following DFS Transfer Policy? The All India Bank Officers’ Association (AIBOA) has written a letter to the Department of Financial Services (DFS), Ministry of Finance, requesting immediate intervention regarding the implementation of government guidelines on the transfer policy in public sector banks, particularly in Bank of Baroda. In the letter…
Thieves Uprooted and Stole SBI Bank ATM in Muzaffarpur Muzaffarpur, Bihar: Unidentified criminals uprooted and stole an entire SBI ATM on Rewa Road (NH-722) near Madwan under Karja police station area in Muzaffarpur district on Saturday night. The gang looted cash and loaded the ATM machine into a white SUV and fled. The incident was…
Today, a meeting was held between UFBU, IBA and DFS regarding the implementation of 5-Day Banking. The discussions were held on PLI scheme. Conciliation meeting focussed on the Performance Linked Incentive (PLI) payment issue in banks. The meeting was held on 9 March 2026 under the Office of the Chief Labour Commissioner (CLC), Ministry of…
Women’s day Every year, International Women’s Day is celebrated on 8 March across the world. This day is dedicated to recognizing the achievements, contributions, and struggles of women in different fields such as education, science, politics, business, and social work. It also highlights the importance of gender equality, women’s rights, and empowerment. To help you…
UCO Bank Shareholder Director Rachna Khare Resigns After Appointment as Insurance Ombudsman Mr. Rajesh Kumar Ailawadi has been appointed as Shareholder Director of UCO Bank. His appointment is with effect from 8 March, 2026 until 9 January, 2028. Profile of Mr. Rajesh Kumar Ailawadi Mr. Rajesh Kumar Ailawadi holds a Bachelor of Science degree from…
Federal Bank has launched a new wealth management platform and opened its first dedicated Wealth Hub in Mumbai. This shows that the bank is focussing on serving affluent and ultra-high-net-worth individual (UHNI) clients as competition in India’s wealth management market increases. The launch marks the next phase of Federal Bank’s expansion in wealth management. The…
The Government says NPA is decreasing in Public Sector Banks but Data tells a different story. While the Union Government and the Reserve Bank of India (RBI) claim that Non-Performing Assets (NPAs) of Public Sector Banks are at a ten-year low, the latest data shows that large defaulters of PSU banks owe around ₹29 lakh…
As the weather becomes warmer, many people start thinking about buying a new air conditioner. However, this year you may have to pay more because AC prices are expected to increase. One major reason is the rise in the price of copper, which is widely used in air conditioners. Another reason is the weak Indian…