Bank holiday today, July 3: Across the north-eastern state of Tripura and its capital Agartala, banks will be closed today (July 3, Thursday), for Kharchi Puja. Kharchi Puja is a Hindu festival, celebrated in Tripura, that is dedicated to fourteen deities called Chaturdasha Devata. Over this week, banks in India and in various states will…
These aren’t isolated incidents. E-commerce platforms say they’re part of a fast-growing pattern of return fraud that’s costing the industry thousands of crores. As fraudulent claims surge, platforms are rethinking their once-liberal return policies—an issue that’s quietly eating into margins and prompting course corrections across the industry. While genuine returns remain a core part of…
India’s largest state-run bank, State Bank of India (SBI), on 23 June 2025 decided to classify Reliance Communications’ loan account as “fraud” and is looking to report the company’s former director, Anil Ambani, to the banking regulator, the Reserve Bank of India (RBI), the company said in an exchange filing. Also Read | IDFC First…
Mumbai: Even as mis-selling of insurance plans by banks has drawn scrutiny, the sector regulator doesn’t want to manage distribution channels and seeks to focus on customer awareness to check the malpractice. “It’s not necessary that every mis-selling is mis-selling, it’s also about the customers’ understanding of the product,” said Swaminathan S Iyer, member (life),…
NEW DELHI (Reuters) -India is exploring building three new strategic oil reserves to boost its emergency stockpile and strengthen energy security, the head of the company in charge of strategic reserves said on Wednesday. India, the world’s third-biggest oil importer and consumer, imports more than 80% of its oil needs and is constantly diversifying its…
Reliance Group’s chairman, Anil Ambani, on Wednesday, 2 July 2025, responded to the State Bank of India’s ‘fraud’ tag on Reliance Communications’ loan account, saying that he was shocked to receive the ex-parte order from the Fraud Identification Committee (FIC) of the State-run bank, according to the official statement sent to SBI via his lawyers. …
China is flexing its trade muscles again by reportedly limiting the export of speciality fertilisers to India. This is not the first time China has used its export advantage to choke supply of critical commodities. Besides curbing the export of di-ammonium phosphate (DAP), a type of fertilizer, China has restricted the export of rare earth…
IndiGo, the largest airline in India, may have a 64 per cent domestic market share but its spread is much, much larger than that. In July, India will see airlines operating in 1,131 sectors in the country (Mumbai-Delhi-Mumbai are counted as two). IndiGo flies to 900 of these, a whopping 79.6 per cent of all…
New Delhi [India], July 2 (ANI): Coal production from captive and commercial mines in June 2025 reached 15.57 million tonnes (MT), while coal dispatches were recorded at 17.31 MT, according to the Ministry of Coal. These figures indicate a solid performance by the coal sector, which plays a crucial role in meeting the energy and…
Mumbai: Bank credit growth to non-banking financial companies (NBFCs) continues to lose steam, even after the Reserve Bank of India (RBI) rolled back tighter risk-weight norms earlier this year to support the sector. Experts said NBFCs are increasingly turning to bond markets for cheaper and quicker funding, while stress in microfinance and unsecured business loans…