Gold loans drive retail credit growth, home loans slow
Gold loans surged 50.4% in FY26, driving retail credit, while home loans grew only 9.4%. Credit card outstandings remained flat, per CRIF India report.
Category : Banking
RBI Tightens Mobile Lock Rules, Penalty for Delayed Unlock
RBI's amended draft restricts mobile lock by financiers, requiring consent and 90-day default period. Unlock within 1 hour or pay Rs 250/hour penalty. New rules enhance borrower protection.
Rupee hits record low of 96.96, forward rate breaches 100
The rupee slid to a new low of 96.96 in spot trade, while one-year forward rates breached 100. The currency closed at 96.82, down 29 paise, amid West Asia conflict and higher oil prices.
Panic at Nirmal Ujjwal Credit Society as Depositors Rush to Withdraw
Hundreds of anxious depositors have crowded the Chandrapur branch of Nirmal Ujjwal Credit Co-Operative Society Ltd after it stopped accepting new FDs and renewals, sparking fears over savings safety.
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RIL adjournment plea opposed; SC to continue gas dispute hearing
The Centre opposed RIL's request to adjourn the gas pilferage hearing for conciliation. The Supreme Court will conclude the hearing but allowed time for settlement.
IT Dept Hosts Awareness Programme at Lucknow University
The Income Tax department organized a programme at Lucknow University under 'Prarambh 2026' to educate taxpayers about the new Income Tax Act 2025 and Rules 2026, which replaced the 1961 Act.
Bhopal Bank Officials Sentenced for Land Scam
A special court in Bhopal sentenced three officials of District Cooperative Bank and a buyer to three years rigorous imprisonment for selling a farmer's mortgaged land at Rs 40,000, far below market value.
Apollo Hospitals PAT up 34% in FY26, revenue crosses Rs 25,000 crore
Apollo Hospitals reported 34% growth in consolidated PAT to Rs 1,942 crore for FY26. Revenue rose 16% to Rs 25,229 crore. Q4 PAT jumped 36% to Rs 529 crore.
Gujarat Transport Body Urges Govt to Address Diesel Shortage
The Akhil Gujarat Truck Transport Association has urged the state government to tackle the growing shortage of diesel and petroleum products, severely impacting transport, trade, and industry in Gujarat.
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AP govt warns of strict action against fertiliser black marketing
Andhra Pradesh agriculture minister warns of licence cancellation and criminal prosecution for dealers involved in hoarding and illegal diversion of fertilisers.
ED Gets Custody of Astrologer in Rs 5.6 Crore Extortion Case
Mumbai court grants ED custody of astrologer Ashok Kharat accused of extorting over Rs 5.6 crore from a businessman through religious manipulation and money laundering.
ATM Robbery Foiled in Ludhiana, Suspects Fire at Police
Four men attempted to rob an Axis Bank ATM in Ludhiana using a gas cutter, but an alarm alerted police. The suspects fired at police and escaped from a dead-end road.
Haryana Man Held for Dowry Refusal to Marry
Fatehabad police arrested Sunil for allegedly refusing to marry a woman after her family failed to meet dowry demands including a car and motorcycle.
CBI arrests two GST officials in Giridih bribery case
The CBI arrested a GST superintendent and inspector in Giridih for demanding a Rs 90,000 bribe to resolve an input tax credit mismatch. They were caught red-handed accepting part payment.
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TCS Clarifies No Salary Cuts, Explains Gratuity Changes
TCS denies salary reduction claims, attributing confusion to gratuity exclusion in payslips following new labour codes. Take-home pay protected, with higher gratuity accruals.
Parle Industries Shares Jump 5% on Modi-Meloni 'Melody' Buzz
Parle Industries shares hit 5% upper circuit amid viral 'Melody' exchange between PM Modi and Italy's Meloni, despite no connection to the toffee brand.
Rupee Hits Record Low of 96.96 Against US Dollar
The Indian rupee fell to an all-time low of 96.96 per US dollar on Wednesday, driven by elevated oil prices, rising US Treasury yields, and geopolitical tensions, with RBI intervention limiting further losses.
Eurobank Cyprus Opens Mumbai Office for HNIs Investing in Europe
Eurobank Cyprus has launched a Mumbai office to assist high net worth Indians in investing across Europe, offering tailored banking and wealth management services.
Rupee Depreciation to Boost IT Firms' Profit Margins
The rupee's fall to an all-time low of 96.90 against the US dollar is expected to directly enhance profit margins for IT companies by increasing the value of their foreign earnings.
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DKMUL seeks permanent transfer of leased land from minister
DKMUL urged minister K Venkatesh to permanently transfer its leased 12.5-acre premises in Kulashekar. The union also sought a Rs 2 per litre milk price hike to ease financial pressure.
RBI Announces $5 Billion USD/INR Swap Auction on May 26
The RBI will conduct a $5 billion USD/INR swap auction on May 26 to inject liquidity amid rupee depreciation and global uncertainties.
RBI Announces $5 Billion Swap Auction for Liquidity
The RBI will conduct a $5 billion USD/INR buy-sell swap auction on May 26 to inject long-term liquidity into the banking system amid rupee weakness and global uncertainties.
Gold Advances to Rs 1.64 Lakh/10gm on Global Cues
Gold prices in India surged to Rs 1.64 lakh per 10 grams, driven by positive global cues. Silver also saw gains amid increased investor demand.
Momentum Peak Trade Expands Digital Brokerage Offering
Momentum Peak Trade enhances its digital brokerage platform, offering traders broader market access with new tools and features for a seamless trading experience.
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EY Report: Entrepreneurs, Rural Customers Drive Branch Traffic
EY report reveals 55% of customers want better digital support. Entrepreneurs, rural clients, and affluent urbanites drive branch visits, while young digital natives avoid them.
Homebuyer Protections Under India's IBC Explained
Learn about the Insolvency and Bankruptcy Code (IBC) and how it protects homebuyers as financial creditors, including key 2026 amendments.
Parle Industries Shares Surge 5% on Viral Exchange
Parle Industries shares hit upper circuit after PM Modi gifted Melody toffees to Italy's PM Meloni, despite no business link with the candy brand.
Parle Industries Share Hits Upper Circuit on Modi Visit
Parle Industries share price hit upper circuit on May 20 after PM Modi's Italy visit, where a viral moment with PM Meloni over Melody candies boosted investor sentiment.
India's Gen Z, Millennials Lead Global Peers in AI Confidence
A Deloitte survey reveals that Indian Gen Z and Millennials are more confident in using AI at work than global peers, with 87% expecting AI to enhance productivity and career growth.
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Parle Stocks Surge After Modi-Meloni 'Melody' Moment
Shares of Parle Industries hit the upper circuit after PM Modi and Italian PM Meloni shared a moment with a 'Melody' candy, sparking investor frenzy.
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