Category: Banking

The RBI will hold a special CTS clearing on October 3, 2025, with three sessions to smooth the transition to continuous settlement starting October 4. All instruments will be processed only through these special sessions, with banks instructed to use designated codes and maintain adequate balances.

The CBI has agreed to grant pardon to British citizen Maiank Mehta in the Nirav Modi money-laundering case.Once arraigned as an accused, Mehta has now pledged to make a full and true disclosure of his knowledge about Nirav Modi’s role and the wider conspiracy. The decision marks a turnaround for the agency, which had earlier…

Mumbai: October is full of major festivals and holidays. According to the Reserve Bank of India (RBI), banks across different cities will remain closed for 21 days in October 2025. This includes Durga Puja, Karva Chauth, Diwali, Chhath Puja, and also the second and fourth Saturdays along with Sundays.Important festival-linked holidaysOctober 1: Banks closed in…

Mumbai: The festive season has started, and this is the time when people usually buy big things like cars. To make it easier, many banks such as Bank of Baroda, HDFC Bank, Axis Bank, and Canara Bank have announced attractive car loan offers. These include lower interest rates, discounts on processing fees, and long repayment…

A viral video from Bank of Baroda’s Jamli Gali branch in Borivali shows rainwater leaking from the ceiling, soaking computers and files. Social media users question infrastructure standards.

Banks face major hurdles in modernizing legacy systems, with 60% citing outdated infrastructure as the biggest barrier. Experts say generative AI can help by reverse-engineering old code, reducing costs, and boosting productivity across the software development lifecycle. An incremental “strangler fig” approach allows safer upgrades without disrupting critical operations.

Fintech firm MobiKwik is under fire after admitting a “processing error” triggered a ₹40 crore payout fraud. With police arrests, frozen accounts, and past fraud scandals resurfacing, critics question whether India’s listed fintech player is masking systemic failures under the guise of a glitch. A Glitch That Cost ₹40 Crore MobiKwik disclosed that between September…

Bengaluru — In yet another case highlighting the rising menace of “digital arrest” scams, dentist Dr Preethi, wife of Rajya Sabha MP Dr K Sudhakar, was duped of ₹14 lakh by cybercriminals posing as Mumbai cyber police officers. Thanks to her quick reporting and prompt police intervention, the entire amount was recovered within a week.…

Bengaluru — Rajya Sabha MP and Infosys Foundation Chairperson Sudha Murty has become the target of a cyber fraudster who allegedly threatened to misuse her mobile number to circulate obscene content. Police have confirmed that a case has been registered and investigations are underway to trace the accused. Fraudulent Call Claiming to Be From Telecom…

Mumbai — The Enforcement Directorate (ED) has attached assets worth ₹307.16 crore under the Prevention of Money Laundering Act (PMLA), 2002, in its probe against the illegal online betting and unauthorized broadcasting platform Fairplay. The assets, comprising both movable and immovable properties, include luxury villas, flats, land in Dubai, and significant bank balances. With this…