Steel trading firm in Chennai defrauds SBI of ₹391 crore
The Hindu
The suspected company is believed to have falsified documents to divert funds and cheat the bank
The directors of a steel trading firm, who were already accused of fraud and booked by the Central Bureau of Investigation, allegedly indulged in the same modus operandi again, to defraud the State Bank of India to the tune of ₹391.30 crore. In a complaint lodged with the CBI’s Economic Offences Branch in Chennai, the SBI’s Stressed Assets Management Branch (SAMB) accused M/s P.S. Krishnamurthy Steels Pvt Ltd of Chennai and its Directors P.S. Krishnamurthy and P.K. Vadivambal of defrauding the bank after taking a loan and forging documents to divert the funds.
India seeks alternative sources for specialty fertilizers from Belgium, Egypt, and others due to China's export restrictions.
India and Russia commit to enhancing trade in national currencies, aiming for $100 billion bilateral trade by 2030.
Stock markets soar as RBI cuts interest rates, with Sensex rising 447 points amidst positive investor sentiment and revised growth forecasts.
AAP's Raghav Chadha calls for banning 10-minute delivery services, highlighting the harsh conditions faced by gig workers.
IndiGo flight cancellations: Follow LIVE updates from The Hindu as IndiGo's operations face issues with over 400 flights cancelled today.
DGCA grants IndiGo exemption from night-duty limits for pilots amid widespread flight cancellations and operational disruptions.
RBI to launch a two-month campaign in January 2026 to address pending grievances with the Ombudsman for improved customer service.
RBI plans ₹1 lakh crore OMO in December to boost liquidity amid upcoming tax payments, ensuring stability in the banking system.
IndiGo faces ongoing flight delays and cancellations due to technology issues, weather, and new crew rostering rules.
Stock markets experience volatility as investors await RBI's monetary policy amid foreign fund outflows and mixed global trends.
ED attaches assets worth ₹1,120 crore in Anil Ambani's Reliance Group case, totaling ₹10,000 crore amid money laundering probe.
Rupee rises 20 paise to 89.69 against the dollar as investors await RBI's monetary policy decision amidst market pressures.
Just nine Fugitive Economic Offenders (FEOs) owed Indian banks over ₹58,000 crore in principal and interest. To date, banks have recovered just over ₹19,000 crore — roughly 33% of the total dues.