Chandigarh: IDFC First Bank has reported a massive ₹590 crore fraud connected to Haryana government-linked accounts at its Chandigarh branch. The bank has suspended four employees pending further investigation and has initiated a comprehensive probe to determine the full impact of the fraudulent activities. Fraud Details and Preliminary Investigation According…
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DFS Reviews Business Correspondent Network at 10th Meeting
New Delhi, February 17, 2026: The Department of Financial Services (DFS) convened the tenth meeting of the Monitoring Committee on Business Correspondents (BCs), reviewing progress on financial inclusion initiatives and strengthening the BC ecosystem across the country. High-Level Participation The meeting was chaired by Shri M. Nagaraju, Secretary, DFS, and…
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DFS Hosts DRAT–DRT Meet to Boost Recovery
The Department of Financial Services (DFS), Ministry of Finance, convened a high-level colloquium today at Vigyan Bhavan, New Delhi, bringing together Chairpersons of Debts Recovery Appellate Tribunals (DRATs) and Presiding Officers of Debts Recovery Tribunals (DRTs). The event was attended by senior DFS officials, representatives of public and private sector…
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India Eyes Bigger Banks via Mergers: FM Sitharaman
Mumbai, Nov 6: Finance Minister Nirmala Sitharaman announced that India is working towards creating more “big banks” by consolidating state-owned lenders and enhancing financial resilience through reforms. Speaking at a public event, she said that the government has already begun discussions with the Reserve Bank of India (RBI) and public…