Kotak Mahindra Bank skipped IDBI Bank bid over high valuation, open to revisit
The earlier stake sale was called off after bids fell short of government expectations, even as foreign investor interest in Indian financial institutions continues to rise
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'Will shield vulnerable sections from price pain, says Finance Minister Nirmala Sitharaman
Finance Minister Nirmala Sitharaman pledges government support for farmers facing rising costs. She encourages Indian businesses to invest and expand capacity. The minister also highlights the dual nature of artificial intelligence, acknowledging its disruptive potential. Discussions are ongoing regarding advanced AI models and cybersecurity. The strategic sale of IDBI Bank is confirmed to proceed.
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Tell us what you need to invest more: FM Sitharaman to India Inc
Finance Minister Nirmala Sitharaman pledges government support for farmers facing rising input costs. She urges Indian industry to expand and add capacity, promising a patient hearing for their needs. The minister also discusses capital outflows and India's readiness for reforms. Engagement with the US and Anthropic is ongoing regarding AI model risks. The strategic sale of IDBI Bank will proceed.
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CBI Arrests 2 Executives of Reliance Communications in ₹2,929 Crore SBI Loan Fraud Case
CBI Arrests Two Executives of Reliance Communications in Rs.2,929 Crore Loan Fraud Case The Central Bureau of Investigation (CBI) has arrested two senior executives of Reliance Communications (RCom), a company controlled by Anil Dhirubhai Ambani , in connection with an ongoing Rs2,929 crore loan fraud case linked to State Bank of India (SBI). The arrested individuals have been identified as Senior Executives D. Vishwanath and Anil Kalya. The action comes as part of a broader investigation initiated following a complaint filed by SBI on August 18, 2025. SBI is the lead bank in a consortium that extended loans to the company, which also includes Bank of India , Union Bank of India , Canara Bank , and IDBI Bank , among others. According to the CBI, the case is based on findings from a forensic audit report, which alleges large-scale diversion and misuse of loan funds between 2013 and 2017. Investigators claim that the borrowed funds were routed through various group entities instead of being used for their intended purposes.
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SC rejects Anil Ambani’s pleas against ‘fraud’ account order
The Supreme Court on Thursday dismissed industrialist Anil Ambani’s petitions seeking to stay the classification of his loan accounts as “fraudulent” by the Bank of Baroda, Indian Overseas Bank Ltd and the IDBI Bank Ltd in terms of the Reserve Bank of India’s 2024 Master Directions. A Bench, led by Chief Justice of India Surya […]
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