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  • State Bank of India has labeled Reliance Communications and Anil D Ambani as fraudulent. The bank is preparing to file a complaint with the CBI. This action follows RBI guidelines. SBI's credit exposure to RCom is significant. RCom is currently undergoing insolvency proceedings. A resolution plan awaits NCLT approval. The government is also supporting farmers through credit and insurance schemes.

    Two IndiGo flights reported technical snags within two days, prompting emergency responses. On Monday, a flight with 140 passengers made an emergency landing in Indore. A day earlier, flight 6E 6591 from Tirupati to Hyderabad returned mid-air due to a minor snag and was later cancelled. IndiGo provided refunds, rebooking options, and accommodations, citing safety as its top priority.

    Tilaknagar Industries and Bira maker B9 Beverages have been named in a chargesheet by Andhra Pradesh Police for alleged kickbacks and irregularities in liquor trade. Tilaknagar reportedly earned ₹1,472 crore from APSBCL, with ₹218 crore allegedly routed as kickbacks via gold transactions. B9 Beverages earned ₹360 crore, with ₹43 crore allegedly funneled back through fake vendor payments. Both firms deny receiving official communication so far.

    Air India received nine show cause notices over five safety violations in the past six months, with enforcement action completed in one case, the civil aviation ministry told the Rajya Sabha. This follows a fatal crash of an Air India Boeing 787-8 last month that killed 260 people and injured 81. The DGCA inspected 31 of 33 similar aircraft, finding minor issues in eight.

    Nayara Energy, backed by Rosneft, has denounced the EU sanctions as unjust and harmful to India's interests, reaffirming its commitment to invest Rs 70,000 crore in downstream projects. The company argues the sanctions threaten India's energy security by disrupting petroleum product supplies.

    Chief Justice of India BR Gavai said he will soon constitute a bench to hear review petitions filed by JSW Steel and lenders of Bhushan Power and Steel (BPSL) challenging the Supreme Court’s May 2 order directing BPSL’s liquidation.

    Vicky Arora, known for action direction in films like URI and RRR, is now with Shortgun Games. He will lead the action design for their new third-person shooter game. Shortgun Games, creators of Rogue Heist, are developing a narrative-driven shooter for PC and consoles. Arora's role involves overseeing action sequences, blending cinematic combat with interactive gaming.

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India's investment trusts to expand debt fundraising as yields drop, analysts say

Fundraising via debt by India's REITs and InvITs is set to increase. This follows a strong first half of 2025, exceeding $2 billion. Falling interest rates are driving investor demand. Bonds offer lower costs than bank financing. Embassy Office Parks REIT and IndiGrid Infrastructure Trust have already tapped the bond market. These trusts provide better returns due to cheaper funding.

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Monday, 21 Jul, 2025

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Delta flight has close call with US B-52 bomber mid air, pilot's surprise caught on audio

Delta flight has close call with US B-52 bomber mid air, pilot's surprise caught on audio

A passenger jet performed an "aggressive maneuver" to avoid a mid-air collision with a US military bomber over the state of North Dakota, according to recorded audio of the commercial pilot. The US Air Force did not provide specifics about the near miss but confirmed in a statement reported by the Washington Post that a B-52 bomber was performing a flyover at the North Dakota State Fair, which occurred in Minot.

Bollywood's glitz, $4 million in scam: Indian-origin Texas couple accused of being 'most prolific fraudsters'

Bollywood's glitz, $4 million in scam: Indian-origin Texas couple accused of being 'most prolific fraudsters'

A Plano couple, once celebrated in North Texas' Indian-American community, faces fraud charges involving real estate scams and misused pandemic funds. Sidhartha “Sammy” Mukherjee and his wife Sunita allegedly defrauded over 100 people, amassing losses exceeding $4 million. Victims claim the couple presented forged documents linked to the Dallas Housing Authority.

US hotels boost background checks as migrant scrutiny grows

US hotels boost background checks as migrant scrutiny grows

Amidst heightened scrutiny of foreign-born workers, U.S. hotels increased background checks by 36% in the first half of 2025 compared to 2024. This surge follows the U.S. Department of Homeland Security's reversal of guidance, potentially leading to immigration raids at hotels.

How HNI NRIs should calculate their term insurance coverage

How HNI NRIs should calculate their term insurance coverage

For high-net-worth NRIs, term insurance is crucial for securing their family's financial future, considering factors like inflation and global living costs. Indian insurers offer cost-effective policies with benefits like GST waivers, premium refunds, and worldwide coverage. Buying term insurance in India provides financial advantages, flexibility, and tax-free payouts, making it a strategic choice for NRIs.

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