New Delhi, June 19 (IANS) The Supreme Court on Friday agreed to examine a public interest litigation (PIL) seeking a court-monitored investigation by the Enforcement Directorate (ED), the Serious Fraud Investigation Office (SFIO) and the Reserve Bank of India (RBI) into an alleged banking fraud involving over Rs 1,500 crore of public sector bank funds and the role of asset reconstruction companies (ARCs) in facilitating debt settlements at a fraction of the outstanding dues. A Bench of Chief Jus…
Latest State Bank of India News & Updates
Mumbai, June 14 (IANS) The combined market valuation of eight of India’s 10 most-valued companies surged by Rs 1.90 trillion last week, driven by a strong rally in domestic equities.The positive momentum came as benchmark indices posted solid gains during the week. The Sensex climbed 1,284.61 points, or 1.73 per cent, while the Nifty advanced 256.2 points, or 1 per cent.Market sentiment remained upbeat amid optimism over a possible peace agreement between the United States and Iran, which raised…
Mumbai, June 13 (IANS) The Enforcement Directorate (ED) has arrested two former executives of the Reliance Anil Ambani Group under the Prevention of Money Laundering Act (PMLA) in Mumbai, according to officials.The probe agency took transit remand of Satish Seth and Gautam Doshi, who previously served as directors of Reliance Telecom Ltd.The CBI had booked and raided the premises of the duo in March as part of its investigation into an alleged loan fraud worth Rs 114.98 crore at the State Bank o…
Mumbai, June 13 (IANS) The Enforcement Directorate (ED) has arrested two former executives of the Reliance Anil Ambani Group under the Prevention of Money Laundering Act (PMLA) in Mumbai, according to officials.The probe agency took transit remand of Sateesh Seth and Gautam Doshi who previously served as directors of Reliance Telecom Ltd. The CBI had booked and raided the premises of the duo in March as part of its investigation into an alleged loan fraud worth Rs 114.98 crore at the State Bank …
Bengaluru, June 12 (IANS) The National Company Law Tribunal (NCLT), Bengaluru Bench, has declared Congress MLC Naseer Ahmed bankrupt in connection with the default of loans amounting to Rs 1,454.71 crore owed by Bengaluru-based M/s Scotts Garments Limited, for which he had stood as a personal guarantor.The order has cast uncertainty over Ahmed’s continuation as a member of the Karnataka Legislative Council, with legal experts indicating that the bankruptcy declaration could attract disqualificat…
New Delhi, June 11 (IANS) The National Company Law Tribunal (NCLT) on Thursday admitted a plea filed by the State Bank of India (SBI) and initiated personal insolvency resolution proceedings against industrialist Anil Ambani in his capacity as a personal guarantor for loans extended to Reliance Communications (RCOM) and Reliance Infratel Ltd (RITL). A bench of Judicial Member Sushil Mahadeorao Kochey and Technical Member Prabhat Kumar passed the order while admitting the SBI’s application filed …
Bhopal, June 11 (IANS) The Directorate of Enforcement (ED), Bhopal Zonal Office, has provisionally attached movable properties worth approximately Rs 3.01 crore belonging to Anil Kumar Jain, former Assistant General Manager (AGM) of the State Bank of India (SBI), who was posted at the Local Head Office (LHO), Bhopal.The attachment was made under the Prevention of Money Laundering Act (PMLA), 2002, on June 10, 2026, an ED statement issued on Thursday said.The action stems from a First Information…
Mumbai, June 11 (IANS) India’s top financial banking services providers — State Bank of India (SBI), Bank of India (BoI), and Yes Bank — have sharply raised interest rates on Foreign Currency Non-Resident (Bank) or FCNR(B) deposits following the Reserve Bank of India’s recent measures to attract foreign currency inflows, with lenders now offering Non-Resident Indians (NRIs) returns of up to 6.6 per cent on US dollar deposits.The banks have revised their FCNR(B) deposit rates, a significant inc…
New Delhi, June 9 (IANS) The Reserve Bank of India’s recent measures to attract foreign capital are expected to bring in $55-65 billion in inflows during the current fiscal year, helping stabilise the rupee and pushing the country’s balance of payments (BoP) into surplus, according to a report by the State Bank of India (SBI).The SBI Economic Research Department’s latest Ecowrap report said the RBI’s initiatives announced in February and June 2026 represent a coordinated strategy to strengthen t…
New Delhi, June 9 (IANS) The Cyber Police Station of Delhi Police’s Shahdara district has successfully solved a cyber fraud case involving the fraudulent withdrawal of Rs 5.67 lakh from a bank account, with three accused persons, including the alleged mastermind, being arrested for their involvement in the crime. The investigation revealed the use of mule bank accounts to route and conceal the stolen funds.According to police, the case came to light on May 14, when Vinod Hira, a resident of Dils…