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Timelines
Exporters flee country after cheating 6 banks; SBI files complaint

09 May 2020

Exporters flee country after cheating 6 banks; SBI files complaint

Three promoters of a Delhi-based basmati rice export firm have fled the country with over Rs. 400 crore in unpaid bank loans, officials said on Saturday.

After Jio, Airtel and Vodafone introduce ATM recharge facility

06 Apr 2020

After Jio, Airtel and Vodafone introduce ATM recharge facility

Following in the footsteps of Reliance Jio, Airtel and Vodafone have introduced a new facility that allows prepaid subscribers to recharge their mobile numbers at a nearby bank ATM.

Now, you can recharge your Jio number from bank ATMs

30 Mar 2020

Now, you can recharge your Jio number from bank ATMs

Reliance Jio has announced that its subscribers can now recharge their prepaid numbers at a nearby bank ATM. The move aims to provide an alternative recharge method for all users, especially to those who cannot do online recharges.

5 big takeaways of Nirmala Sitharaman's budget you should know

01 Feb 2020

5 big takeaways of Nirmala Sitharaman's budget you should know

Finance Minister Nirmala Sitharaman presented her second Union Budget at a time when the Indian economy is struggling, raising concerns among world bodies like the International Monetary Fund (IMF).

#FinancialBytes: All you need to know about loans on credit-cards

15 Nov 2019

#FinancialBytes: All you need to know about loans on credit-cards

Credit cards play an essential role in our lives and are among the most widely-used cashless payment methods because of the convenience they offer.

#FinancialBytes: All you need to know about loans on credit-cards

30 Apr 2019

#FinancialBytes: All you need to know about loans on credit-cards

Credit cards play an essential role in our lives and are among the most widely-used cashless payment methods because of the convenience they offer.

#BharatBandh: How banking services will get affected

08 Jan 2019

#BharatBandh: How banking services will get affected

With the two-day nationwide general strike having commenced, banking services across India could be affected as a significant chunk of government bank employees have joined in on the strike.

#FinancialBytes: 5 best debit cards for students in India

18 Dec 2018

#FinancialBytes: 5 best debit cards for students in India

Debit cards have become one of the most essential and widely-used payment methods for cashless and online transactions today.

How to apply for education loan in India

02 Sep 2018

How to apply for education loan in India

Getting quality education from a top-notch institution, is vital to give a kick-start to your career, whatever be the field.

This traveling computer-classroom will reach 65,000 children in MP villages

09 Aug 2018

This traveling computer-classroom will reach 65,000 children in MP villages

In a step that would benefit over 65,000 children residing in Madhya Pradesh villages, a bus equipped with 20 computer systems and internet was flagged off on Saturday.

LIC board approves acquisition of 51% stake in IDBI Bank

16 Jul 2018

LIC board approves acquisition of 51% stake in IDBI Bank

The LIC board today gave approval to the insurance behemoth for acquiring of up to 51% stake in IDBI Bank, Economic Affairs Secretary SC Garg said today.

Mallya releases letters to Modi alleging media, investigators' bias

26 Jun 2018

Mallya releases letters to Modi alleging media, investigators' bias

Embattled liquor baron Vijay Mallya today released one-year-old letters he wrote to PM Narendra Modi and then-Finance Minister Arun Jaitley "to put things in the right perspective."

ED seeks fugitive-tag for Mallya; moves court to confiscate Rs.12,500cr-assets

22 Jun 2018

ED seeks fugitive-tag for Mallya; moves court to confiscate Rs.12,500cr-assets

Enforcement Directorate (ED) on Friday filed the first case under "Fugitive Economic Offender Ordinance" to declare Vijay Mallya a fugitive offender and to confiscate his assets worth Rs. 12,500cr (including movable and immovable properties).

Vijay Mallya ordered to pay £200,000 to Indian banks

16 Jun 2018

Vijay Mallya ordered to pay £200,000 to Indian banks

Embattled liquor baron Vijay Mallya was asked to pay £200,000 (Rs. 1.81 crore) to Indian banks by a United Kingdom court.

PSU banks suffer whopping Rs. 87,000cr loss in FY18

10 Jun 2018

PSU banks suffer whopping Rs. 87,000cr loss in FY18

Losses of 19 government-run banks crossed a whopping Rs. 87,357cr in FY2017-18, topped by scam-tainted Punjab National Bank which took a hit of nearly Rs. 12,283cr.

Business Roundup: Here are today's top 5 Business news

04 Jun 2018

Business Roundup: Here are today's top 5 Business news

Here comes your daily roundup of business news.

Over 23,000 bank-fraud cases involving Rs. 1-lakh-crore in 5 years

02 May 2018

Over 23,000 bank-fraud cases involving Rs. 1-lakh-crore in 5 years

Over 23,000 cases of fraud involving a whopping Rs. 1-lakh-crore have been reported in the past five years in various banks, according to the Reserve Bank of India (RBI).

Loan fraud: Case registered against former Aircel promoter Sivasankaran's companies

26 Apr 2018

Loan fraud: Case registered against former Aircel promoter Sivasankaran's companies

The CBI has registered a case against former Aircel promoter C Sivasankaran's companies, Axcel Sunshine Ltd and Finland-based Win Wind Oy, for allegedly defaulting on loans worth Rs. 600 crore taken from IDBI Bank, officials said on Thursday.

#FinancialBytes: Buying a car? Here are 6 best car-loan options

24 Apr 2018

#FinancialBytes: Buying a car? Here are 6 best car-loan options

Nowadays, having a car has become a necessity rather than a luxury. However, someone who has just started his professional career may not be able to afford a car.

IDBI Bank now reveals fraudulent loans worth over Rs. 770cr

28 Mar 2018

IDBI Bank now reveals fraudulent loans worth over Rs. 770cr

The latest Indian bank to reveal fraudulent loans is IDBI, which said Rs. 772cr had been issued as loans from five branches in Andhra Pradesh and Telangana against fake documents.

These 12 banking apps are at risk

13 Jan 2018

These 12 banking apps are at risk

Last week, Quick Heal detected an Android Trojan stealing banking credentials from customers, following which several banks have issued advisories and warnings to customers about the risks.

This Android malware has affected almost all Indian banking apps!

05 Jan 2018

This Android malware has affected almost all Indian banking apps!

In India, banking apps are increasingly being used for carrying out Internet-enabled transactions conveniently. Almost every bank has a mobile app. But it looks like net banking isn't really safe in an era of increasing cybercrime.

RCom to exit SDR, reduce debt by Rs. 39,000cr: Ambani

27 Dec 2017

RCom to exit SDR, reduce debt by Rs. 39,000cr: Ambani

Anil Ambani-owned Reliance Communications has announced it would exit the ongoing Strategic Debt Restructuring (SDR) scheme of its lenders by selling its Rs. 25,000cr-worth telecom assets, including towers, spectrum and optical fiber by Mar'18.

Government to NGOs: Open bank accounts before 21 January, 2018

26 Dec 2017

Government to NGOs: Open bank accounts before 21 January, 2018

In a bid to maintain transparency, the Ministry of Home Affairs has directed NGOs, businesses etc that receive foreign funding to open bank accounts within a month.

SC asks debt-ridden Jaypee to deposit Rs. 2,000cr by October

11 Sep 2017

SC asks debt-ridden Jaypee to deposit Rs. 2,000cr by October

In relief to homebuyers, the SC last week stayed insolvency proceedings against Jaypee Infratech which has defaulted on loans worth crores.

Actor-Cricketer Dhruv Sharma passes away in Bengaluru

01 Aug 2017

Actor-Cricketer Dhruv Sharma passes away in Bengaluru

Speech and hearing impaired Dhruv Sharma, who went on to become Sandalwood actor and professional cricket player, died from multiple-organ failure in Bengaluru today.

Finance ministry to RBI, extend deadline for Basel III norms

27 Jun 2017

Finance ministry to RBI, extend deadline for Basel III norms

Although RBI had extended the deadline for implementation of Basel III banking norms from March 2018 to March 2019, the finance ministry has now asked for another extension citing, banks at present have a higher capital requirement to handle NPAs.

RBI to banks: Resolve 55 NPA cases in six months

24 Jun 2017

RBI to banks: Resolve 55 NPA cases in six months

After pegging down 12 accounts that had racked up 25% or roughly around Rs. 2 lakh crore worth non-performing assets (NPA) in the Indian banking sector, the Reserve Bank of India (RBI) has now given banks a six month time period to resolve 55 cases of bad debt or hand them over for resolution under Insolvency and Bankruptcy Code.

Lanco Infratech: First of 12 blacklist companies facing bankruptcy action

20 Jun 2017

Lanco Infratech: First of 12 blacklist companies facing bankruptcy action

Lanco Infratech was touted to be the first company amongst Reserve Bank of India's twelve blacklist companies to face bankruptcy action.

Vijay Mallya's extradition hearing to resume on June 13

13 Jun 2017

Vijay Mallya's extradition hearing to resume on June 13

On June 13, the Westminster Magistrates Court in London will hear the extradition case of Vijay Mallya, where the Crown Prosecution Service will argue for the Indian government; CBI earlier provided officials necessary documents.

Defiant Mallya says he intends to watch all ICC matches

06 Jun 2017

Defiant Mallya says he intends to watch all ICC matches

While the presence of absconder Vijay Mallya at the ICC Champions Trophy match created quite a stir in the media and social media, Mallya was unfazed.

SC finds Mallya guilty of contempt of court, summons him

09 May 2017

SC finds Mallya guilty of contempt of court, summons him

The Supreme Court has found businessman Vijay Mallya guilty of contempt of court, and has summoned him before it on 10 July.

Vijay Mallya arrested in London, granted bail in 3 hrs

18 Apr 2017

Vijay Mallya arrested in London, granted bail in 3 hrs

In what is seen as the first-step toward bringing Vijay Mallya to India, reports have indicated that he was arrested by Scotland Yard in London. The Westminster Magistrates' Court granted him bail in 3 hours.

Vijay Mallya: UK okays request for his extradition

25 Mar 2017

Vijay Mallya: UK okays request for his extradition

The UK secretary of state has approved India's request for extradition of Vijay Mallya and sent it to a district judge for consideration of a warrant, announced MEA spokesperson Gopal Baglay.

Delhi: Four Bhondsi jail-mates in Limca Book of Records

22 Mar 2017

Delhi: Four Bhondsi jail-mates in Limca Book of Records

The Limca Book of Records now features four inmates of the Bhondsi jail for installing 'Phoenix' (a prison-management software) in 11 prisons of Haryana.

IDBI to manage losses by selling non-core assets

23 Feb 2017

IDBI to manage losses by selling non-core assets

State-owned lender, IDBI Bank Ltd's board will sell some of its non-core assets to manage a gross bad loan ratio of 15.16% in December-end.

Mumbai hospitals under the scanner for overcharging

01 Feb 2017

Mumbai hospitals under the scanner for overcharging

Lilavati Hospital, Asian Heart Institute, Kokilaben Dhirubhai Ambani Hospital, Fortis Hospital, Global Hospitals, Hiranandani Hospital and HN Reliance Foundation were found selling packaged commodities at prices far above the MRP.

CBI rejects 9 bail pleas in IDBI loan default case

31 Jan 2017

CBI rejects 9 bail pleas in IDBI loan default case

CBI lawyer Bharat Badami filed a written reply in a special court, opposing the bail pleas of 9 accused executives of IDBI Bank and now-defunct Kingfisher Airlines (KFA).

IDBI Bank flouted norms to offer Mallya Rs 950-crore loan

28 Jan 2017

IDBI Bank flouted norms to offer Mallya Rs 950-crore loan

Vijay Mallya's KFA was reportedly Rs 6,000 crore in debt when it approached IDBI bank, with un-repaid credits of IDBI itself. The first loan of Rs 150 crore was sanctioned within a week.

Commercial lending to take a hit after CBI arrests

28 Jan 2017

Commercial lending to take a hit after CBI arrests

The resolution of bad debts held by public sector banks may witness a delay following the arrest of IDBI officials for sanctioning loans which went bad after a restructuring programme.