The Secretary of the Shri Ram Janmabhoomi Teerth Kshetra Trust, Champat Rai, has categorically denied allegations that he personally approved the trust’s Standard Operating Procedure (SOP) for cash counting in 2025. Responding to the controversy surrounding the handling of temple donations, Rai asserted that the procedures in question were neither drafted nor sanctioned by him...
The investigation into alleged irregularities involving donations collected at the Ram Temple in Ayodhya has entered a crucial phase, with law enforcement agencies expanding their financial scrutiny and collecting key evidence from banking institutions. Police officials spent several hours at a major bank branch in Ayodhya on Monday as part of an ongoing effort to...
Even in the age of digital banking and paperless transactions, India’s largest lender continues to spend heavily on traditional operations. State Bank of India (SBI) emerged as the country’s biggest spender on printing and stationery during FY25, shelling out a staggering ₹986 crore, highlighting how physical banking services still command enormous costs. The massive figure...
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...