MONEY & BANKING


In banking, confidence can evaporate faster than capital. The point was driven home on 18 March 2026 when the cryptic resignation letter of HDFC Bank’s part-time chairman, Atanu Chakraborty, triggered a sharp market reaction and raised legitimate questions about board processes, disclosure...

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Moneylife Digital Team 25 March 2026
A major financial irregularity involving over ₹150 crore has surfaced in the accounts of the Panchkula Municipal Corporation (MC) maintained with Kotak Mahindra Bank, triggering a police complaint and a vigilance probe, according to media reports.   As reported by CNBC-TV18, the discrepancy...

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Moneylife Digital Team 25 March 2026
India’s personal loan market is witnessing a sharp surge driven by digital lending platforms, with digital personal loans recording strong growth in both value and volume, according to a report by the Fintech Association for Consumer Empowerment (FACE).   The report shows that digital...

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Moneylife Digital Team 24 March 2026
HDFC Bank has announced a review of the resignation of its former part-time chairman and independent director Atanu Chakraborty, appointing external law firms to examine the circumstances surrounding his exit, even as the lender clarified that no governance lapses were flagged in his...

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Moneylife Digital Team 24 March 2026
Reserve Bank of India (RBI) has imposed a penalty of ₹3.60 lakh on five cooperative banks and Vedvyas Finance Pvt Ltd, a non-banking financial company (NBFC) from Odisha, for non-compliance with the directions issued by the banking regulator. The highest penalty of ₹1 lakh has been imposed on...

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Debayan Roy (Bar  and   Bench) 24 March 2026
The Supreme Court on Monday took exception to the manner in which investigating agencies had proceeded in the Reliance Communications banking fraud matter directed that the probe be carried out in a time-bound, fair and independent manner. [EAS Sharma vs Union of India]   A Bench of Chief...

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SN Thyagarajan (Bar  and   Bench) 23 March 2026
The Supreme Court of India has held that a consumer forum cannot adjudicate disputes involving allegations of fraud and forgery in banking transactions, particularly where fixed deposits are allegedly pledged without authorisation (Sant Rohidas Leather Industries Vs Vijaya Bank).   A Bench of...

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Moneylife Digital Team 23 March 2026
Reserve Bank of India (RBI) has imposed a penalty of ₹31.80 lakh on Hongkong and Shanghai Banking Corporation Ltd (HSBC) for failing to comply with its directions on inoperative accounts and unclaimed deposits, as per the revised instructions issued to banks.   RBI statutory inspection found...

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Moneylife Digital Team 23 March 2026
JP Morgan Chase Bank has settled proceedings with the market regulator Securities and Exchange Board of India (SEBI) by paying a settlement amount of ₹34.42 lakh for alleged violations of foreign portfolio investor (FPI) regulations.   According to the settlement order, JP Morgan Chase Bank...

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Moneylife Digital Team 19 March 2026
HDFC Bank on Wednesday announced the resignation of its part-time chairman and independent director Atanu Chakraborty, who stepped down with immediate effect, citing concerns over certain practices at the Bank that are 'not in congruence' with his personal values and ethics. Following his exit,...

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Moneylife Digital Team 18 March 2026
Indian banks have written off loans worth more than ₹19 lakh crore over the past 11 financial years, with a notable shift in trends as retail loans emerged as the largest contributor to write-offs in FY24–25, according to data shared by the Union ministry of finance in Parliament.   In a...

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Moneylife Digital Team 17 March 2026
The total outstanding amount owed by wilful defaulters to Indian banks and financial institutions stood at ₹383,264 crore as of 31 March 2025, nearly ten times the ₹39,369 crore recorded at the same date in 2014, with the number of defaulters growing from 5,076 to 18,318 over the same period,...

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Moneylife Digital Team 16 March 2026
Holding that the Bank committed 'deficiency in service' by refusing to accept demonetised currency notes for deposit during the limited period allowed after the 2016 demonetisation announcement, the national consumer disputes redressal commission (NCDRC) has directed Axis Bank to pay ₹3.19...

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Moneylife Digital Team 16 March 2026
Reserve Bank of India (RBI) has imposed a penalty of ₹2.70 lakh on Manappuram Finance Ltd, a Kerala-based non-banking financial company (NBFC), for non-compliance with directions related to the guidelines on compensation for key managerial personnel (KMP), specifically regarding the deferral of...

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Moneylife Digital Team 13 March 2026
The directorate of enforcement (ED) has conducted search operations at 19 premises across multiple cities in connection with a major banking fraud involving the alleged embezzlement of around ₹597 crore belonging to government accounts.   The searches were carried out on 12 March 2026 by the...

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Moneylife Digital Team 13 March 2026
The Maharashtra State Bank Mitras Association, an affiliate of the Maharashtra State Bank Employees Federation, has alleged that banking correspondents (BCs) are being harassed by banks to obtain retrospective consent from customers for enrolment in two government-backed insurance schemes after...

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Moneylife Digital Team 13 March 2026
The Iran war has reached the gleaming towers of Dubai's financial district. Citigroup and Standard Chartered have begun evacuating their Dubai offices and directing staff to work from home, while HSBC has closed all its branches in Qatar until further notice — moves triggered by Iran's explicit...

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Moneylife Digital Team 13 March 2026
Reserve Bank of India (RBI) has imposed a penalty of ₹80,000 on two cooperative banks for non-compliance with the directions issued by the banking regulator. The highest penalty of ₹50,000 has been imposed on Maharashtra-based Walchandnagar Sahakari Bank Ltd.   Pallikonda Cooperative Urban...

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Moneylife Digital Team 11 March 2026
Reserve Bank of India (RBI) has cancelled the certificates of registration (CoR) of 36 non-banking financial companies (NBFCs) and accepted the surrender of registration by nine others. These exits occurred for several reasons, including voluntary discontinuation of business, meeting the...

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Moneylife Digital Team 10 March 2026
Drawing a line under the fraud incident at its Chandigarh branch, IDFC First Bank confirmed in a regulatory disclosure that it has paid a total net principal amount of ₹645 crore to all claimants, ₹55 crore more than its initial estimate of ₹590 crore, and that no further discrepancies or...

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