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RBI watching development around IDFC First Bank fraud, no systemic issue: Guv Malhotra

New Delhi, Feb 23 (PTI) The RBI is watching the development around the Rs 590 crore fraud at IDFC First Bank and there is no systemic issue, Governor Sanjay Malhotra said on Monday. IDFC First Bank had on Sunday disclosed a Rs 590-crore fraud committed by certain employees and others at a particular branch in Chandigarh in a specific set of Haryana state government accounts. “We are watching the development, there is no systemic issue,” Malhotra told reporters at a press briefing after the customary post budget address by Finance Minister Nirmala Sitharaman to the Central Board of Directors of

EU says it will accept no increase in US tariffs

BRUSSELS, Feb 23 (Reuters) – The European Commission demanded on Sunday that the United States stick to the terms of an EU-U.S. trade deal reached last year, after the U.S. Supreme Court struck down Donald Trump’s global tariffs and he responded with new levies across the board. The Commission, which negotiates trade policy on behalf of the 27 EU member states, said Washington must provide “full clarity” on the steps it intends to take following the court ruling. After the court struck down Trump’s global tariffs on Friday, the U.S. president announced temporary, across-the-board tariffs of 10%, which he then

Gold futures rally to Rs 1.59 lakh per 10 gm amid strong global cues

New Delhi, Feb 23 (PTI) Gold surged by Rs 2,946 to Rs 1,59,822 per 10 gram in the futures trade on Monday, tracking strong trends in the international market amid renewed global tariff worries. On the Multi Commodity Exchange (MCX), gold futures for April delivery rallied by Rs 2,946 or 1.88 per cent, to Rs 1,59,822 per 10 grams in a business turnover of 7,515 lots. In the international market, gold futures on the Comex advanced USD 96.61, or 1.9 per cent, to USD 5,177.51 per ounce. According to Jigar Trivedi, Senior Research Analyst at Indusind Securities, gold climbed in

High Court quashes order staying proceedings against Anil Ambani to classify his bank accounts as fraud

Mumbai, Feb 23 (PTI) In a setback to industrialist Anil Ambani, the Bombay High Court on Monday quashed a single bench interim order that stayed proceedings initiated against him and Reliance Communications Ltd to classify their bank accounts as fraud. A division bench of Chief Justice Shree Chandrashekhar and Justice Gautam Ankhad allowed the appeals filed by three public sector banks and auditor firm BDO India LLP against the December 2025 interim order passed by a single bench of the HC. The division bench, while quashing the single bench order, termed it “illegal and perverse”. Ambani’s counsels sought the HC

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