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    Rupee-dollar fluctuations driven by global, domestic factors: Sitharaman
    2 arrested for operating fake common service centre, online fraud in Meerut
    Unauthorised absence by RBI official grave misconduct: HC; upholds his removal
    India's Russian oil imports rise in May as refiners boost purchases
    No shortage of energy in country, LPG, oil supply situation comfortable: Hardeep Singh Puri
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    AXISCADES Announces Strategic Engineering Services Divestment Program for Aerospace Engineering Services Business
    QCI and FDDI Sign MoU to Strengthen Quality and Skilling Ecosystem in Leather and Footwear Sector
    Assam Cabinet decides to stop Aadhaar issuance to those aged above 18: CM
    DPIIT, ONDC Bring FMCG Leaders Together to Digitise Procurement for India’s 1.4 Crore Kirana Stores Through DigiDukaan
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    2 TCS employees booked for abetment over colleague''s ''suicide'', company says it is ascertaining facts
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June 14, 2026
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Rupee volatility and forex management are driven by global factors, while RBI intervenes only to curb excessive market swings.
Rupee-dollar fluctuations are driven by multiple global and domestic factors, including geopolitical uncertainty, foreign capital movements and import dependence on crude oil, fertilisers and gold. The Reserve Bank of India intervenes only to curb excessive volatility and stabilise the market temporarily, not to maintain a fixed exchange rate. The finance minister also linked exchange rates to global currency movements, foreign investment flows and foreign exchange management needs.
June 14, 2026
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Fake identity documents and bank accounts allegedly used to run online fraud through a forged common service centre operation.
Alleged operation of a fake Common Service Centre and use of forged identity documents for opening bank accounts and facilitating online frauds. The activity was said to involve fake seals, fabricated records, debit and credit cards, mobile phones, and online payment platforms for illegal gains. A complaint linked to one bank account had earlier been registered on the National Cyber Crime Reporting Portal, and a case was registered under relevant provisions of the Bharatiya Nyaya Sanhita, the Information Technology Act and the Aadhaar Act.
June 14, 2026
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Unauthorised absence as grave misconduct in RBI service discipline, with compulsory retirement sustained after repeated opportunities were ignored.
Unauthorised absence by a senior assistant of the Reserve Bank of India was treated as grave misconduct because prolonged absence from a responsible post was considered detrimental to public interest and capable of justifying disciplinary action. The employee had remained away from duty without permission, and repeated directions to resume work or submit a supported leave application were not met. The disciplinary process included a show-cause notice and enquiry, but several opportunities were given for participation, so the plea of breach of natural justice was not accepted.
June 14, 2026
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Russian crude imports rise in India as refiners expand discounted purchases despite sanctions-related pressures.
India's purchases of Russian crude increased in May as refiners expanded imports of discounted barrels, with Russian hydrocarbons accounting for a substantial share of the country's fossil fuel imports. Several major refining hubs recorded higher Russian crude arrivals, reflecting renewed buying by state-run refiners and continued dependence on Russian supply despite sanctions-related pressures. The report also notes that refineries using Russian crude continued to export oil products to sanctioning countries, underscoring the continued circulation of Russian-origin crude through international refining and product-trade channels.
June 13, 2026
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Energy supply and fuel pricing remain comfortable as excise cuts, stock levels, and E85 expansion shape policy.
Energy supply conditions were described as comfortable, with no shortage of crude oil, LPG or natural gas and with stocks said to be sufficient for more than 60 days for crude oil and natural gas, and about 75-80 days for LPG. Fuel prices were said to have fallen in India after repeated reductions in central excise duty on petrol and diesel, while diesel sale capping was introduced to curb black marketing and E85 fuel infrastructure is being expanded.
June 13, 2026
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Aadhaar issuance restrictions tighten in Assam with adult applications curbed and limited exceptions requiring state approval.
Aadhaar cards are to stop being issued in Assam to persons above 18 years, subject to limited exceptional cases requiring a district commissioner's proposal and state government approval. Aadhaar issuance will continue for persons below 18 years and, for the time being, for members of the Tea Tribe community, Scheduled Tribes, Scheduled Castes and persons with disabilities who have not yet received the document; the restriction is stated to become absolute for those communities above 18 years from April 1, 2027. The State says the measure is aimed at preventing illegal immigrants from obtaining Aadhaar cards.
June 13, 2026
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Honorary Doctorate in Law recognition highlights a legal career marked by public service, complex litigation, and professional integrity.
Advocate Aashutosh Srivastava was conferred an Honorary Doctorate in Law by Washington Digital University, USA, in recognition of his professional dedication, legal service, public-oriented work, and commitment to justice, rights protection, and the rule of law. The article also records his legal career, including his practice since 2006, his firm, appearances before the Supreme Court and High Courts, and his work in complex litigation, economic offences, bail matters, enforcement proceedings, public interest litigation, and RBI-related disputes.
June 13, 2026
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Money laundering remand under the Prevention of Money Laundering Act granted to trace diversion of loan funds and offshore assets.
Custodial remand under the Prevention of Money Laundering Act was sought in an alleged diversion-of-loan-funds investigation involving Reliance ADA Group entities, offshore remittances, foreign bank accounts and the layering of funds. The court granted five days' custody to the Enforcement Directorate to enable confrontation with seized emails, electronic records, financial documents and witness statements for tracing the fund trail, identifying the ultimate beneficiaries and locating domestic and overseas assets, while directing arrangements for medical care.
June 13, 2026
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SEBI enforcement and Aadhaar policy moves dominate a roundup of regulatory, possession, and bail-related legal developments.
SEBI moved the Supreme Court challenging a Securities Appellate Tribunal order granting relief to managers and a company secretary in the Sahara OFCD matter. The roundup also notes a decision to stop Aadhaar issuance to persons above 18 years of age, fresh bail applications in the 2020 Delhi riots case, and the Centre's physical possession of the Jaipur Polo Ground in Delhi.
June 13, 2026
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Securities regulatory jurisdiction over debenture issuances and employee liability remains in focus in the SEBI challenge.
Securities regulatory jurisdiction over optionally fully convertible debentures was affirmed on the basis that the debentures issued by Sahara India Commercial Corporation Ltd. were treated as a public offer rather than a private placement, in view of the large-scale mobilisation of funds from a very large number of investors. The tribunal separately granted relief to four managers and the company secretary, holding that they could not be treated as liable for the company's acts merely by reason of their employment. SEBI has challenged only this part of the ruling before the Supreme Court.
June 13, 2026
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Strategic divestment and transitional partnership reshape AXISCADES' aerospace engineering business through a two-tranche acquisition structure.
A strategic divestment programme has been announced for AXISCADES' Aerospace Engineering Services business, under which Akkodis is to acquire a controlling interest in two tranches, beginning with 51% and followed by the balance over the next 24 to 30 months. The transaction covers design, engineering analysis, certification support and lifecycle engineering services, and is subject to customary regulatory and competition law clearances. The parties are to act as strategic partners during the transition, with transitional services for systems, certifications and employee continuity.
June 13, 2026
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Quality and skilling ecosystem partnership expands certification, testing access and training support for leather and footwear workers.
Quality Council of India and Footwear Design and Development Institute have entered into a Memorandum of Understanding to strengthen the quality, testing, accreditation and skilling ecosystem in the leather and footwear sector. The collaboration is directed at building a structured framework for capacity building, certification, testing infrastructure development and quality ecosystem support across major footwear clusters, with emphasis on workers, MSMEs, supervisors and other stakeholders in the value chain. The partnership assigns QCI a role in providing technical guidance on accreditation principles, quality management systems and standards, while also supporting awareness initiatives on quality, testing, accreditation and applicable government schemes. FDDI is to lead cluster-specific skilling and training programmes, map testing and calibration laboratories, identify gaps in laboratory access, support sample collection centres and develop knowledge resources.
June 13, 2026
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Aadhaar issuance restriction targets adult applicants in Assam, with exceptional cases requiring state permission.
Aadhaar card issuance in Assam is being restricted for persons above 18 years of age to prevent illegal immigrants from obtaining the document. In exceptional cases, a district commissioner may send a proposal to the State government seeking permission for issuance.
June 13, 2026
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General trade digitisation through DigiDukaan aims to streamline kirana procurement, improve scheme visibility, and strengthen FMCG supply chains.
DPIIT and ONDC convened an industry roundtable on DigiDukaan to digitise B2B procurement for kirana stores across India's General Trade ecosystem. The discussion focused on fragmented ordering, limited inventory visibility and manual sales processes, and on how open digital infrastructure can improve procurement efficiency, scheme visibility, fill rates, working capital management, distributor reach and access to retailer demand signals.
June 12, 2026
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Money laundering probe over alleged bank loan fraud leads to arrests of former Reliance Telecom executives.
The Enforcement Directorate arrested two former Reliance Anil Ambani Group executives under the Prevention of Money Laundering Act in connection with an alleged bank loan fraud involving Reliance Telecom Ltd. The agency took transit remand to move them to Delhi, where the case is registered. The ED is stated to have taken cognisance of a prior CBI complaint and is examining their roles in the alleged fraud.
June 12, 2026
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Money laundering enforcement under anti-money laundering law leads to arrest of former corporate executives in a linked case.
The Enforcement Directorate arrested two former executives of the Reliance Anil Ambani Group under the Prevention of Money Laundering Act in a money laundering case. The arrests were made in Mumbai, and the accused were taken to Delhi on transit remand because the case was registered in the national capital. The two individuals had previously served as directors in Reliance Telecom Ltd.
June 12, 2026
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Economic growth and external resilience define India's expanding macroeconomic strength, despite recession concerns and debt repayment fears.
India's macroeconomic position is described as having strengthened through robust growth, high foreign exchange reserves and expanding external resilience. The text states that concerns about recession were dismissed on the basis that India continued to record the highest growth rate among major economies, with GDP growth remaining strong in the latest quarter and the fiscal year. It also notes that India had become the world's fourth-largest economy and was on course toward a USD 5 trillion economy. The article further highlights external sector stability by stating that India's foreign exchange reserves were sufficient to cover nearly 11 months of imports and that the country had the capacity, if required, to repay 94 per cent of its foreign debt in a single day.
June 12, 2026
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Abetment to suicide allegations arise after a workplace death, with the company saying it is ascertaining the facts.
Police registered a case of alleged abetment to suicide against three persons, including two employees of an IT company, after the death of a 48-year-old staffer. The complaint relied on a purported suicide note alleging defamatory emails, repeated humiliation before colleagues, denial of favourable work assignments, assignment of work outside the victim's expertise, and pressure to resign. The company said it was ascertaining the facts and reaffirmed its commitment to a respectful and inclusive workplace.
June 12, 2026
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Economic resilience and strong growth keep India ahead of recession forecasts amid robust GDP and reserves.
India's economic performance was described as resilient despite recession forecasts, with the current growth rate stated to be the highest in the world. GDP growth was reported at 7.8 per cent in the January-March quarter and FY26 expansion at 7.7 per cent, while India was said to have become the world's fourth-largest economy and to be moving towards a USD 5 trillion economy. The account also highlighted large foreign exchange reserves, claimed debt-repayment capacity, and strong digital payment adoption through UPI.
June 12, 2026
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Retail inflation pressures intensify as food costs and fuel pass-through lift CPI and widen upside risks for monetary policy.
Retail inflation rose to 3.93 per cent in May 2026, driven mainly by higher food prices and the pass-through of rising global energy costs into domestic petrol and diesel rates. CPI-based food inflation increased to 4.78 per cent, with sharp price pressures in perishables and other items, while the RBI's inflation objective remains 4 per cent within a tolerance band of 2 per cent on either side. The RBI had raised its inflation projection for the current fiscal year to 5.1 per cent.

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AU Small Finance Bank Brings a Range of Savings Accounts Built for Every Indian Customer

June 8, 2026

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Mumbai, Maharashtra, India – Business Wire India AU Small Finance Bank (AU SFB), India’s largest Small Finance Bank and the first in over a decade to receive in-principle approval to transition into a Universal Bank, today shared its full range of savings accounts built to meet the needs of every kind of Indian customer. AU Small Finance Bank's range of savings accounts — AU Digital, AU Royale, AU Royale World, AU Platinum, AU Value, AU Vikaas and others built for women, senior citizens, students, NRIs and salary earners— offers easy video KYC account opening, attractive savings account interest rates with monthly interest payouts, the AU 0101 mobile banking app, and range of Debit Cards empowered by RuPay, Visa, MasterCard. Empowering every Indian customer to pick the savings account that suits them best. Every Savings Account designed by AU Small Finance Bank is built around three simple things: easy digital account opening through video KYC, full banking on the AU 0101 mobile banking app, and a consistent, straightforward experience whichever account you choose. Customers can view the full range and select the savings account that best fits their needs on the official AU Small Finance Bank website. Open Your Savings Account from Home with Video KYC Customers can open a Savings Account from home using the AU 0101 mobile app & official AU Small Finance Bank Website. The full process, including video KYC, happens online, with no need to visit a branch. No paperwork to sign. No waiting in queues. Eligible customers get a working account within a short time. Customers can also view details such as savings account interest rate through official bank channels. This is how AU Small Finance Bank wants every new customer to start, quick, simple, and on their phone. The AU 0101 Mobile Banking App: Your Bank in Your Pocket The AU 0101 mobile banking app gives AU Small Finance Bank Savings Account customers everything they need from one place. Send money over UPI. Make IMPS, NEFT and RTGS transfers. Pay bills. Manage your debit card. Set up or cancel auto-debits. Download statements. View and use your AU Rewardz points. Every customer gets a Debit Card for shopping online, withdrawing cash at ATMs, and paying at stores with convenient management through the AU0101 app. A Savings Account for Every Kind of Customer AU Small Finance Bank's range covers a savings account for almost every type of customer. The Digital Savings Account is for those who want to do everything online. The AU Royale Savings Account and AU Royale World Savings Account are for customers looking for premium banking, with airport lounge access, a personal relationship manager and family banking benefits. The AU Platinum Savings Account is for customers who want a more rewarding banking experience with the benefit of extending the features up to 3 additional family members and flexibility of minimum balance maintenance within the group. The AU Vikaas Savings Account, AU NRI Savings Account, AU Women Savings Account, AU Senior Citizen Savings Account, and AU Kids Savings Account, are each built for a specific kind of customer, whether you are a student, a working professional, an NRI, a senior citizen, or a parent opening an account for your child. Why a Range, and Not Just One Account Indian customers want different things from a savings account. Some want premium banking with extras like lounge access and a relationship manager. Students and kids need accounts that match their age and stage of life. Working women look for features that fit how they manage money. Senior citizens value personal service. AU Small Finance Bank's savings account range is built to meet these different needs, while making sure every customer, whichever account they pick, gets a simple, friendly experience and the same easy access through the AU 0101 mobile banking app. What Customers Get • AU Digital Savings Account: Open online with video KYC. AU Platinum Debit Card and the AU 0101 mobile banking app from day one. • AU Royale and AU Royale World Savings Accounts: Premium banking with airport lounge access and a personal relationship manager (subject to eligibility and minimum balance) & more. • AU Platinum Savings Account: Extra features for customers who want more from their savings account (subject to eligibility and minimum balance) with benefit of extending the features up to 3 additional family members and the flexibility of minimum balance maintenance within the group. • AU Vikaas, AU NRI, AU Women, AU Senior Citizen: Savings accounts built for specific groups of customers. • Across the range: Easy online account opening, attractive rates on eligible balances, the AU 0101 mobile banking app, a savings account interest rate calculator and other helpful tools on the AU Small Finance Bank official website, a range of Debit Cards, and deposit protection under DICGC up to the prescribed limit per depositor per bank. About AU Small Finance Bank AU Small Finance Bank Limited (AU SFB) is a Scheduled Commercial Bank and has established itself as India’s largest Small Finance Bank since commencing its banking operations in April 2017. Founded in 1996 by Mr. Sanjay Agarwal, a first-generation entrepreneur, AU is entering its 10th year as a Bank, guided by a deep rooted “Dharma” of customer centric service. Over three decades, AU has built a sustainable and inclusive financial institution that empowers underserved and under reached communities through a robust retail led banking model. The Bank has received an in-principle approval from the Reserve Bank of India (RBI) to transition into a Universal Bank. With deep customer insights across India, AU provides comprehensive banking solutions spanning deposits, loans, credit cards, premium banking, remittance services, merchant solutions, insurance, and investments. As a tech led bank, AU delivers differentiated digital experiences through innovations such as 24x7 Video Banking, WhatsApp Banking, chatbots, UPI QR solutions, merchant lending, and its award-winning AU 0101 app. AU SFB’s wide network of 2,790 banking touchpoints across 21 States and 4 Union Territories enables service to more than 1.2 crore customers, powered by a workforce of 59,200+ employees. As on 31st March 2026, Bank had shareholders’ funds of INR 19,974 cr, deposit base of INR 1,52,661 cr, total loan portfolio of INR 1,40,327 cr and a balance sheet size of INR 1.9 Lac cr+. AU SFB is listed on NSE and BSE and its fixed deposits are rated ‘AA+/Stable’ by CRISIL Ratings. AU SFB’s long term debt rating is ‘AA/Stable’ by CRISIL Ratings, ICRA Ltd. and CARE Ratings. All AU Small Finance Bank Savings Accounts are offered subject to eligibility, internal policies, and applicable terms and conditions. Account features, monthly balance requirements, fees and other charges follow the bank's current policies and may be updated from time to time. Deposits are covered under the Deposit Insurance and Credit Guarantee Corporation (DICGC) up to the prescribed limit per depositor per bank. For account-specific details, please visit www.au.bank.in. Disclaimer: Savings Account interest rates are subject to change at the sole discretion of AU Small Finance Bank without prior notice. Please check AU Small Finance Bank Official website for latest savings account interest rates (Disclaimer: The above press release comes to you under an arrangement with Business Wire India and PTI takes no editorial responsibility for the same.). PTI PWR

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