Bank Accounts

Enforcement Directorate freezes over Rs 120cr in illegal forex trading case

The ED said that a total of 180 accounts were found involved in the layering of funds received from investors in the name of forex trading on TP Global FX platform

Over Rs 12 crore swindled from Kozhikode Corporation accounts in PNB

Over Rs 12 crore have been swindled from several accounts of the Kozhikode Corporation in a Punjab National Bank here and the prime accused -- a former senior manager of the bank -- is still at large. The fraud came to light last month when the Corporation found huge sums of money missing from its various accounts in the PNB branch, an officer of Crime Branch wing of the police said. An FIR was immediately lodged and in view of the amount involved, of Rs 12.68 crore, the probe was transferred to the Crime Branch, the officer said. Initially, the Corporation believed that the swindled amount was over Rs 15 crore, but subsequently, its audits revealed that Rs 12.68 crore was missing from its accounts in the bank. Besides the Corporation, around Rs 18 lakh was also stolen, allegedly by the former bank manager, from the account of a private individual, the officer said. He said that their investigation has revealed that most of the money -- around Rs 10 crore -- was invested in the s

Fraudsters using villagers' data to open accounts for cyber crimes

Bank account holders need to be careful while sharing their personal details with unknown persons as it has been found that fraudsters open fake accounts in the name of villagers and tribals

Is DBT the solution for agri subsidy transfers? There is no direct answer

In India, farmers receive subsidised supply of inputs as agriculture subsidies and the difference between the actual cost of supplying and the price paid by the farmers is reimbursed to the suppliers

RBI permits banks to open 12 special vostro accounts for trade in rupees

So far, not a single overseas trade transaction directly involving the rupee has taken place

Deposit rates may rise 105 bps due to 190 bps repo rate hike: SBI report

CASA occupies a 45% share in overall bank deposits; it is FDs, which make the remaining 55%, which will need the rate adjustment

Rupee trade: Understanding difference between Nostro and Vostro accounts

The RBI has allowed two Russian banks, Sberbank and JSC VTB, to open Vostro accounts for rupee trade. Read more to find out what a Vostro account is and how it is different from a Nostro account

How to check your bank balance using Aadhaar card: A step-by-step guide

Aadhaar is a 12-digit unique identity number provided by the UIDAI to the residents of India after a certain verification process

HC directs Vivo to give Rs 950-cr bank guarantee to operate bank accounts

The phone manufacturer had said the account freeze would hamper its ability to pay for its liabilities, such as taxes and employee salaries

Delhi HC asks ED to consider Vivo's representation on freeing bank accs

ED's money-laundering probe into Vivo revealed the company, to avoid paying taxes in India, remitted about Rs 62,476 crore of its turnover to China between 2017 and 2021

Crores of rupees go 'missing' from bank accounts; Andhra govt clarifies

The state government said the DA arrears amount was 'erroneously' credited into the GPF accounts of the employees 'due to a technical glitch'

Sebi orders attachment of bank, demat accounts of Aakruti Nirmiti, 2 others

Sebi has ordered attachment of bank accounts as well as share and mutual fund accounts of Aakruti Nirmiti Ltd and its directors to recover investors' dues totalling over Rs 95 crore

TMS Ep145: AC & fridge, municipal corpn, RBI policy, Nostro & Vostro A/c

Will AC-fridge makers' windfall hit the Chinese wall? How are India's municipal corporations faring? What are the markets expecting from RBI policy? What are Nostro & Vostro A/c? All answers here

Banks to conduct special clearing ops on Mar 31 for govt accounts' closure

The Reserve Bank has issued directions to the banks for smooth clearing operation and asked them to participate in it

Now, make central KYC registry fully operational

When you change your address or carry out any other KYC formality with one entity (say, your bank), this information should spread to ­all entities

What are the types of bank accounts in India?

India has different types of bank accounts for different purposes. Find out the various types of accounts that can help you decide which one suits your requirements best

TMS Ep57: Big tech scrutiny, pay-later cards, markets, bank accounts

Is Google facing less scrutiny than Facebook? What's the lure of pay-later cards? What's Julius Baer APAC head's take on equity outlook? What are the types of bank accounts? Find all answers here

'The Account Aggregator framework is a game-changer'

By sharing information digitally and securely through the AA framework, lenders get a host of data points like bill payments and investments to assess creditworthines

Story in numbers: Goa sees rise in women-owned bank accounts, shows data

As in many other state, in Goa too, assertion by women is backed by their capacity to take financial decisions

RBI eases current account opening rules for exposure below Rs 5 cr

Rules changed after feedback from the Indian Banks' Association and other stakeholders, says the regulator