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Ignore Speculation, Bank Remains Strong, RBI Assures IndusInd Bank Depositors

March 15, 2025 2:33 PM

Mumbai: The Reserve Bank of India (RBI) assured IndusInd Bank depositors of its financial stability following recent speculation about its financial health. The central bank confirmed that the bank remains well-capitalised and there is no cause for concern among depositors. “…there is no need for depositors to react to the speculative reports at this juncture,”

Earning Indians Allocating Over 33 Pc of Income Towards Paying Loan EMIs: Report

February 19, 2025 11:31 AM

Bengaluru: As private consumption surges in India, earning individuals across all city tiers are allocating more than 33 per cent of their income (on average) towards paying loan EMIs, a report showed on Wednesday. People spend the highest amount of money on their obligatory expenditures, which accounts for 39 per cent of their total spending,

New India Cooperative Bank GM Detained by EOW in Rs 122 Crore Fraud Case

February 15, 2025 6:30 PM

Mumbai: The Economic Offences Wing (EOW) of Mumbai Police has detained Hitesh Mehta, General Manager of New India Cooperative Bank, concerning a Rs 122 crore financial fraud case. On Saturday, EOW officials raided Mehta’s residence in Dahisar, Mumbai, at Aryavrat Society, NL Complex. Following the search at his 14th-floor apartment, Mehta was taken into custody

RBI Takes Control: New India Co-Operative Bank’s Board Superseded Amid Crisis

February 14, 2025 9:12 PM

Mumbai: The Reserve Bank of India (RBI) took strong action on Friday against the New India Co-operative Bank by removing its board of directors for 12 months, effective February 14. This decision comes just one day after the RBI placed several restrictions on the bank, including stopping it from giving out new loans and accepting

RBI Hikes Interest Rates on NRI Foreign Currency Deposits to Attract More Foreign Capital

December 6, 2024 2:46 PM

Mumbai: The RBI on Friday increased the interest rate ceilings on foreign currency non-resident bank deposits, or FCNR (B) deposits, which will enable NRIs to earn more on their savings. The move is aimed at attracting more foreign capital at a time when the Indian rupee has come under pressure. Foreign investors have been pulling

Industry: RBI’s CRR Slash Is To Support Growth, Repo Rate Decision On Expected Lines

December 6, 2024 12:54 PM

New Delhi: Industry experts said on Friday that the RBI’s decision to cut the cash reserve ratio (CRR) by 50 bps would help support growth after the revision in the GDP forecast for FY25. The Central Bank’s monetary policy committee (MPC) slashed banks’ CRR by 0.5 percent to make more funds available for lending and

RBI Cuts Cash Reserve Ratio By 0.5 Pc to Hasten Growth, No Changes in Repo Rate

December 6, 2024 11:14 AM

Mumbai: The Reserve Bank of India (RBI) on Friday slashed banks’ cash reserve ratio (CRR) by 0.5 percent to make more funds available for lending and spur economic growth. However, the key policy repo rate, which is set at 6.5 percent, remained unchanged to monitor inflation. The CRR has been reduced from 4.5 percent to

Investigators Find Unnerving Words Etched on Bullets in Killing of US Health Insurance CEO

December 5, 2024 10:43 PM

New York: Investigators have found eerie messages scratched on the bullet casings found where the CEO of the largest US health insurance company was killed that could hold clues to the shooter’s motivation. Police said on Thursday that the words “deny,” “depose”, and “defend” were found written on three bullets. Insurance companies use the words

‘Digital Gold’ Bitcoin Goes Above $1,00,000 for First Time, Likely To Reach $120,000 Soon: Experts

December 5, 2024 9:45 AM

New Delhi: The world’s largest cryptocurrency, Bitcoin, has crossed the historic milestone of $100,000 apiece, industry experts said on Thursday. This was driven by favourable market dynamics, growing US regulatory clarity, and institutional adoption through Bitcoin ETFs. Bitcoin was trading at $1,03,095 after gaining 4.39 percent. According to Vishal Sacheendran, Head of Regional Markets at

Actress Payal Rohatgi Reveals Her Father Has Prostate Cancer, Urgently Seeks Financial Aid For Treatment

December 5, 2024 9:33 AM

Mumbai: Actress Payal Rohatgi recently made an emotional appeal to her fans, revealing that her father is battling prostate cancer. In a heartfelt post, Payal shared details about his condition and the financial strain the family is facing, urging her followers to come forward with their support and donations. On Wednesday, Payal took to her