MONEY & BANKING


Moneylife Digital Team 16 July 2026
The central bureau of investigation (CBI) has conducted coordinated searches across Karnataka, Maharashtra, Telangana and Tamil Nadu in connection with an alleged bank fraud of ₹47.37 crore involving Hyderabad-based Jupiter Bio Sciences Ltd, the company's managing director, directors, unknown...

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Moneylife Digital Team 15 July 2026
Reserve Bank of India (RBI) has cancelled the registrations of 192 non-banking finance companies (NBFCs), with as many as 159 based in West Bengal, 22 from Maharashtra, four from Delhi, two from Gujarat and one each from Madhya Pradesh, Uttar Pradesh, Chhattisgarh, Jharkhand and Bihar....

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Moneylife Digital Team 14 July 2026
Reserve Bank of India (RBI) has imposed a penalty of ₹44.80 lakh on five cooperative banks for non-compliance with the directions issued by the banking regulator. The highest penalty of ₹13.30 lakh has been imposed on Gujarat-based Surat People’s Cooperative Bank Ltd.   Other banks penalised...

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Moneylife Digital Team 10 July 2026
Gen Z consumers are transforming India's retail credit landscape by entering the formal credit system earlier, spending more aggressively after receiving their first credit card and expanding into multiple credit products at a much faster pace than previous generations, creating significant...

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Swagta Nath (Bar  and   Bench) 09 July 2026
The Supreme Court recently held that a government-sanctioned merger of banks under the Banking Regulation Act, 1949, does not sweep away a landlord’s statutory protection against unauthorised subletting or assignment under rent control laws.   A Bench of Justices Sanjay Karol and N Kotiswar...

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Moneylife Digital Team 09 July 2026
India's credit card market is changing, with borrowers increasingly using credit cards alongside personal loans, consumer durable loans and other unsecured credit products, according to a report from TransUnion CIBIL. The shift is creating more complex borrowing patterns and raising fresh...

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Moneylife Digital Team 08 July 2026
In a significant ruling that reinforces consumer protection against digital banking fraud, the national consumer disputes redressal commission (NCDRC) has upheld an order directing Punjab National Bank (PNB) to reimburse more than ₹16.11 lakh to a customer whose bank account was allegedly...

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Moneylife Digital Team 07 July 2026
The central bureau of investigation (CBI) has filed its first charge-sheet in the alleged ₹4,097 crore bank fraud involving Reliance Commercial Finance Ltd (RCFL), naming seven accused, including two companies from the Reliance Anil Dhibubhai Ambani (ADA) group and five former senior executives...

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Moneylife Digital Team 06 July 2026
Reserve Bank of India (RBI) has imposed penalties totalling ₹66.70 lakh on Bank of Baroda and GIC Housing Finance Ltd, a housing finance company (HFC), for non-compliance with directions issued by the banking regulator.  The highest penalty of ₹63.60 lakh was imposed on Bank of Baroda. GIC...

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Moneylife Digital Team 06 July 2026
The All-India Bank Employees' Association (AIBEA) has urged the Union government to introduce a national accountability policy requiring public sector banks (PSBs) to identify officials responsible for regulatory violations and recover monetary penalties from those found accountable, rather...

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Moneylife Digital Team 03 July 2026
Reserve Bank of India (RBI) has imposed penalties aggregating ₹2.15 lakh on three cooperative banks, two in Maharashtra and one in Uttar Pradesh (UP), for violating various regulatory directions. The highest penalty of ₹1.05 lakh has been imposed on UP, Gorakhpur-based NE & EC Railway Employees...

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Moneylife Digital Team 02 July 2026
State-owned Bank of Baroda (BoB) has entered into an out-of-court settlement with NMC Health plc, NMC Healthcare Ltd and NMC Holding Ltd, agreeing to pay US$600mn (million), or about ₹5,700 crore, to resolve a long-running legal dispute arising from the collapse of the UAE-based healthcare...

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Moneylife Digital Team 01 July 2026
ArcelorMittal Nippon Steel India (AM/NS) has completed the final leg of the landmark Essar Steel insolvency resolution by paying ₹200 crore to a consortium of lenders led by State Bank of India (SBI) to acquire the personal guarantee claims against Essar group promoters Prashant Ruia and Ravi...

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Moneylife Digital Team 01 July 2026
A dispute between a customer of RBL Bank and the lender over nearly ₹10 lakh of alleged unauthorised international debit card transactions has raised broader questions about the Bank’s transaction alerts and how customers are expected to interpret them. Even as RBL Bank has begun reversing part...

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The core job of an asset reconstruction company (ARC) is to buy troubled assets, recover maximum value from bad loans, clean up bank balance sheets and restore financial stability. They fulfil the first function efficiently, but their role has become increasingly controversial over the years....

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Moneylife Digital Team 26 June 2026
Reserve Bank of India (RBI) has imposed penalties totalling ₹5 lakh on three cooperative banks for non-compliance with various regulatory directions issued by the banking regulator. The highest penalty of ₹3 lakh has been imposed on Nabapalli Cooperative Bank Ltd in West Bengal.   The other...

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Moneylife Digital Team 25 June 2026
The Reserve Bank of India (RBI) has notified its framework for protecting customers against fraudulent electronic banking transactions, but the final directions differ in several important respects from the draft released for public consultation in March. While the framework retains the...

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Bar  and   Bench 25 June 2026
The High Court of Justice in London has held that fugitive economic offender Nirav Modi is personally liable to Bank of India more than $11 million (over ₹100 crore) under a 2013 personal guarantee in favour of the bank. (Bank of India v. Firestar Diamond FZE & Ors.)   Deputy High Court Judge...

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Moneylife Digital Team 24 June 2026
The directorate of enforcement (ED) has provisionally attached immovable properties worth ₹35.52 crore in connection with an ongoing money-laundering investigation against Dhanlaxmi Solvex Pvt Ltd (DSPL), its directors and associated entities and individuals.   The attachment has been carried...

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Moneylife Digital Team 23 June 2026
The central bureau of investigation (CBI) has arrested a senior Indian Administrative Services (IAS) officer from Haryana cadre, Pankaj Agarwal, in connection with the alleged diversion of more than ₹60 crore from government accounts maintained with IDFC First Bank, marking a significant...

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