India might be dealing with more illegal activity at a bank. This time, it’s an alleged 6 billion rupee ($90 million) case of loan fraud at IDBI Bank. According to Reuters, former senior bank officials are among those being investigated, and searches are being carried...
The Reserve Bank of India has banned regulated financial institutions in the country from dealing with cryptocurrencies, CNBC reported. “In view of the associated risks, it has been decided that, with immediate effect, entities regulated by RBI shall not deal with or provide services to any...
In late 2016, India’s government surprised the world with a decision to push the race for payment digitization from a marathon to a sprint, by deciding to scrap nearly 85 percent of the nation’s physical currency reserves almost overnight. The move was highly controversial –...
The scandal surrounding India’s state-run Punjab National Bank (PNB) is getting bigger — in fact, a source says it could hit the $2 billion mark. According to a source involved in the investigation and court documents reviewed by Reuters, authorities are still trying to recover...
April 27, 2018
India might be dealing with more illegal activity at a bank. This time, it’s an alleged 6 billion rupee ($90 million) case of loan fraud at IDBI Bank. According to Reuters, former senior bank officials are among those being investigated, and searches are being carried out at 50 locations, including New Delhi and Mumbai. In […]
April 06, 2018
The Reserve Bank of India has banned regulated financial institutions in the country from dealing with cryptocurrencies, CNBC reported. “In view of the associated risks, it has been decided that, with...
March 22, 2018
In late 2016, India’s government surprised the world with a decision to push the race for payment digitization from a marathon to a sprint, by deciding to scrap nearly 85...
March 07, 2018
The scandal surrounding India’s state-run Punjab National Bank (PNB) is getting bigger — in fact, a source says it could hit the $2 billion mark. According to a source involved...
