Category: Banking
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DRAT Dismisses Appeal, Directs DRT to Expedite Loan Restructuring Case Against Bank of Baroda
The Delhi DRAT dismissed an appeal by YFC Pvt. Ltd. challenging DRT’s refusal to grant more time for loan restructuring in a Bank of Baroda case. Observing that the proceedings had dragged beyond the 180-day limit under the RDB Act, the tribunal directed the DRT to decide the Original Application expeditiously while noting repeated delays…
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Forex reserves drop by USD 2.3 billion to USD 700.2 billion
New Delhi: India’s forex reserves dropped by USD 2.334 billion to USD 700.236 billion during the week ended September 26, according to the RBI data on Friday. In the previous reporting week, the kitty had declined by USD 396 million to USD 702.57 billion. For the week ended September 26, foreign currency assets, a major…
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NCLT Admits Rs. 2,888 Cr Insolvency Petition by Canara Bank Against Gupta Power Infrastructure
The NCLT Kolkata bench has admitted Canara Bank’s Rs. 2,888 crore insolvency petition against Gupta Power Infrastructure. The Tribunal initiated CIRP, appointed Mr. Pradeep Kumar Kabra as IRP, and imposed a moratorium under Section 14 of the IBC.
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Financial results of Banks September Q2 -FY2025
Public and private sector banks in India have started releasing their Q2 FY26 (September 2025) financial results. Check Net Profit, NPA, and other key details from each bank’s official reports. Download the results PDFs directly from the links provided in the tables below.
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Court Denies SBI Request to Take Rs 5 Crore from Peacock Media Account
A special MPID court has denied State Bank of India’s request to release Rs 5 crore from Peacock Media’s attached account, ruling the funds must be reserved for 298 depositors allegedly cheated by the firm. The court noted SBI moved under SARFAESI three years after the 2013 case and is therefore not entitled to the…
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Rs 50 Lakh Salary, Rs 60 Lakh Debt: Finance Mentor Explains How Millennials Are ‘Rich on Paper, Broke in Reality’
Finance mentor Palak Jain shared a LinkedIn post on a client earning Rs 50 lakh but burdened with Rs 60 lakh debt. Despite luxury living, heavy EMIs and expenses leave her paycheck-to-paycheck, exposing the hidden risks behind a picture-perfect lifestyle.
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CESTAT: Service Tax Cannot Be Levied on TDS in Foreign Remittances
The CESTAT Chennai has ruled that service tax cannot be imposed on the TDS portion of foreign remittances, holding that TDS is a statutory compliance under the Income Tax Act and not part of the service provider’s remuneration. The decision provides relief to businesses importing services under the reverse charge mechanism.
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Massive Credit Card Fraud Uncovered Using Fake Documents- American Express
Faridabad Police are investigating a scheme where five accused persons reportedly obtained multiple credit cards using forged documents and defrauded American Express of about ₹50.94 lakh between April 2023 and January 2024. The fraud came to light after irregularities in card issuance and transactions were flagged by the bank. FCRF Launches CCLP Program to Train…
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ED Attaches Rs.100 Crore Assets in Rs.153 Crore Bank Fraud Using Farmers’ Identities
The Enforcement Directorate (ED) has attached assets worth over Rs.100 crore in a Rs.153 crore bank fraud where accused misused farmers’ documents to open fake loan accounts. Raids in Maharashtra and Andhra Pradesh led to cash seizure and property attachments, with bank officials also under probe.
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Government Launches “Your Money, Your Right” Campaign on Unclaimed Deposits
The Finance Ministry, along with RBI, SEBI, IRDAI, and IEPFA, will run a three-month campaign from October to December 2025 to help citizens trace and claim unclaimed deposits, insurance claims, dividends, shares, and mutual funds. Finance Minister Nirmala Sitharaman will inaugurate the drive on October 4 in Gandhinagar, Gujarat.