Reserve Bank of India Governor Sanjay Malhotra clarified on Monday that banks are free to decide the minimum balance requirement for savings accounts, as it does not fall under the regulatory jurisdiction of the RBI. He made this statement during a media interaction on the sidelines of the ‘Financial Inclusion Saturation Drive’ held at Gozaria...
Unified Payments Interface (UPI) services experienced a widespread outage across India on Thursday evening, disrupting digital transactions for thousands of users and causing chaos for businesses reliant on cashless payments. This marks the fourth major UPI disruption in 2025, raising concerns about the reliability of the nation’s most widely used payment platform. The issue began...
CHENNAI: On Thursday, the Enforcement Directorate (ED) conducted raids at more than 35 locations, involving 50 companies and approximately 25 individuals associated with Anil Ambani’s Reliance Group. This action was taken under Section 17 of the Prevention of Money Laundering Act (PMLA) in relation to an alleged loan scam worth Rs 3,000 crore linked to...