The official UPI statistics for March 2025 has been made public by the NPCI. Look up the best UPI bank for March 2025. State Bank of India (SBI) is the leading UPI Remitter Bank in March 2025, according to official data. In March 2025, SBI handled more than 4956 million UPI transactions. As of March 2025, Yes Bank is the leading UPI beneficiary bank. In March 2025, YES Bank handled more than 7,307 million UPI transactions.
The State Bank of India (SBI) branch manager in Kunjaban was fined Rs.50,000 by the Tripura High Court for improperly halting a retired CRPF jawan's pension. The fine will be subtracted from the SBI branch manager's pay and sent to the government treasury via challan.
After retiring from the Central Reserve Police Force (CRPF) on December 31, 2012, Mahesh Lal Yadav began receiving his monthly pension through the SBI Kunjaban branch. But beginning in April 2022, his pension benefits abruptly and mysteriously halted.
Yadav requested an explanation, but was informed that an inquiry officer had ordered the pension to be discontinued. It appears that this cop was looking into a criminal case against him.
The crucial point is that, prior to April 2022, Yadav had previously been exonerated of all counts and found "not guilty." Therefore, there was no justification for halting his pension. Yadav chose to seek justice in the High Court after attempting in vain to get in touch with the bank and the regional manager.
The High Court ruled that the bank was at fault and that the pension was unlawfully halted. The Branch Manager was fined Rs.50,000 and held personally liable by the court. In addition, the court ordered that this fine be deducted straight from the Branch Manager's pay and placed in the government treasury as a form of discipline.
Fixed Deposit (FD) is a popular investment option in India, providing safe returns with guaranteed interest. Different banks offer varying interest rates on FDs based on tenure, amount, and the customer’s profile (regular or senior citizen). Here, we provide the most up-to-date FD interest rates from major banks across India. You can check FD Interest Rate of all Banks in India – Government Banks and Private Banks here.
Public Sector Banks FD Interest Rate 2025 [Updated]
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An assistant manager at the Rajim branch of Indian Overseas Bank was arrested for stealing more than Rs 1 crore through the issuance of fraudulent jewelry loans. Ankita Panigrahi, the accused, was apprehended from Bargarh, Odisha, by the State Economic Offenses Investigation Bureau (EOW). The police started questioning her and pursuing additional legal action after the arrest.
Ankita Panigrahi was employed in 2022 as an Assistant Manager at Indian Overseas Bank's Rajim branch in the Gariaband district. She created fictitious jewelry loan records there by abusing locked bank accounts. She was able to take out Rs 1 crore 65 lakh from the bank in fraud by doing this.
When this fraud was discovered, the bank fired her right away. The Economic Offenses Wing (EOW) then formally filed a case against her in 2023. The case was brought under Section 409 of the Indian Penal Code, which addresses criminal breach of trust by a public worker, and Section 13(a) of the Prevention of Corruption Act, 1988 (as amended in 2018).
For a long time, Ankita had been absconding (hiding from the authorities), but the EOW finally tracked her down in Bargarh, Odisha. She was taken into police custody (remand) so that officials could question her thoroughly about the fraud. The EOW is now conducting a detailed investigation to uncover the full extent of the scam and to check whether other people were involved.
An key legal action against Vijay Mallya, the former owner of Kingfisher Airlines, has been won in London by a group of Indian banks, led by the State Bank of India (SBI). The case concerned Mallya's recovery of a sizable debt following the failure of his airline. Options for home loans
Anthony Mann, a judge at the London High Court, made the announcement on Wednesday. The bankruptcy ruling against Vijay Mallya is still in effect as a result of his decision in favor of the Indian banks. For the banks, this is a significant step in recovering their funds.
What Is the Case About?
Following a decision by the Debt Recovery Tribunal (DRT) in India, Indian banks sued Mallya in the UK back in 2017. Due to Mallya's personal guarantee for Kingfisher Airlines' loans, the DRT has ordered him to repay more than GBP 1.12 billion, or around Rs 11,000 crore.
In the United Kingdom, the banks filed for bankruptcy against Mallya in 2018. Mallya attempted to halt it by claiming that the banks had security on his assets and that he had previously offered enough assets in India that had been confiscated by the Enforcement Directorate(ED).
What Happened in the Court?
A UK court ruled in 2020 that the banks did have security over Mallya's assets, which partially invalidated the bankruptcy petition. However, the banks appealed that decision, and they were granted permission to do so in 2021. Additionally, they amended their bankruptcy petition to state that they would relinquish any claim to Mallya's Indian assets in the event that he was found bankrupt.
Mallya resisted this modification, claiming it violated Indian law and public policy. However, the UK court ruled in April 2021 that the modification was lawful and did not violate any Indian regulations.
Now, in the latest ruling, the High Court has:
Allowed the banks’ appeal that they do not hold security on Mallya’s assets
Rejected Mallya’s attempt to challenge the bankruptcy order
Said the bankruptcy order against Mallya stands firm
What the Banks’ Lawyers Said
The law firm TLT LLP, which represents the banks, said this decision is very important. It proves that the banks were right to file the bankruptcy case and that the assets taken by the ED in India don’t cancel the debt under English law. Nick Curling, legal director at TLT, said, “This is a big win for the banks. We have been working on this case since 2017.”
What Vijay Mallya’s Side Says
Mallya, who filed for bankruptcy in July 2021, is currently pursuing a different legal path. He has applied to the UK court to have the bankruptcy judgment revoked, claiming that the assets in India were sufficient to cover the banks' payments.
Mallya will keep fighting, according to his attorney Leigh Crestohl, who has also filed a separate petition in India's Karnataka High Court. He requests that the banks provide a detailed report on their recovery efforts.
Meanwhile, Mallya is still out on bail in the UK. He is also involved in a private legal matter, which is believed to be related to his asylum request in the UK. This is separate from his extradition case to India, where he is wanted on charges of fraud and money laundering.
The Conciliation meeting between UFBU and IBA that was scheduled to be held on 22 April has been postponed to 30 April.Bank Employees are protesting against non-fulfillment of demands such as 5 Day Banking and adequate recruitment of staff.
Earlier, meeting was held on 18.03.2025 but any decision would not be arrived at. So next meeting was scheduled for 21.03.2025. In that meeting, the strike was deferred and UFBU said that a consensus had been arrived for most of the demands.
What UFBU said in last meeting on 21.03.2025?
Serious negotiations on our demands began the morning before today's adjourned conciliation meeting. There were representatives from the Department of Financial Services (DFS) and the Indian Banks' Association (IBA).
The Finance Minister (FM) and the DFS Secretary had a fruitful conversation regarding the desire for five-day banking, according to the Joint Secretary of DFS, who joined the meeting via video chat.
The IBA suggested more talks on important topics like hiring, Performance-Linked Incentive (PLI), and other difficulties. The implementation of five-day banking is one of the topics that the Chief Labour Commissioner (CLC) promised to personally monitor.
The adjourned meeting will take place again during the third week of April. It was agreed to delay the strike scheduled for the 24th and 25th by one or two months in light of these encouraging developments.
All units are hereby informed that the strike has been postponed, and a detailed circular will be issued soon.
Key Demands Raised by Bank Employees
Adequate Recruitment: Address the shortage of staff across all cadres in banks.
Five-Day Work Week: Implement a five-day work week for the banking industry.
Withdrawal of DFS Directives: Demand the immediate withdrawal of the Department of Financial Services (DFS) directives on performance reviews and the Performance Linked Incentive (PLI) scheme, which threaten job security, create divisions among employees, and undermine the autonomy of public sector banks (PSBs).
Safety of Bank Staff: Ensure protection for bank officers and staff against customer assaults and abuses.
Fill Vacant Posts: Expedite the appointment of workmen and officer directors in PSBs.
Resolution of Pending Issues: Resolve residual issues with the Indian Banks’ Association (IBA).
Amend the Gratuity Act: Increase the gratuity ceiling to ₹25 lakhs, similar to government employees’ schemes, and provide income tax exemptions.
Vinay Shankar Tiwari, a prominent Samajwadi Party (SP) leader and the son of the late powerful politician Hari Shankar Tiwari, was taken into custody by the Enforcement Directorate (ED) on Monday in relation to a huge bank fraud case worth ₹750 crore. Following several raids by ED teams at several properties connected to him and his business, Gangotri Enterprises Ltd., he was arrested from Lucknow.
The arrest is a component of a broader probe into financial irregularities by Vinay Shankar Tiwari and his family's business, Gangotri Enterprises. Gangotri Enterprises obtained loans totaling ₹1,129.44 crore from a consortium of seven banks, led by the Bank of India, according to ED sources. Nevertheless, around ₹750 crore of this sum was not repaid.
The Enforcement Directorate has alleged that the company diverted and misused the loan amount, violating banking norms and causing a huge loss to the banks. The money was allegedly siphoned off for personal and unauthorized purposes, leading to a case under the Prevention of Money Laundering Act (PMLA).
ED teams searched ten separate locations in India connected to Tiwari and his company on the day of the arrest. Five locations in Lucknow, two in Noida and Gorakhpur, and one each in Delhi and Mumbai were among them. Involving almost a dozen teams, the action began early in the morning.
Several significant documents, including those pertaining to properties valued at crores of rupees, were found during the raids. According to ED personnel, substantial evidence of financial misconduct was discovered within a few hours of the search operation.
Despite receiving several summons from the Enforcement Directorate, Vinay Shankar Tiwari reportedly failed to appear before investigators. This non-cooperation further raised suspicion and led to intensified action. Meanwhile, the Central Bureau of Investigation (CBI) had already registered a case against Gangotri Enterprises and its promoters based on complaints from the banks involved.
The ED took over the case under money laundering charges after the CBI’s FIR. So far, the ED has seized property worth about ₹100 crore in connection with this fraud.
One prominent character in Uttar Pradesh politics is Vinay Shankar Tiwari. In the past, he served as the representative for Gorakhpur's Chillupar constituency, which had been occupied by his father. Prior to joining the Samajwadi Party, he was elected as an MLA on a ticket from the Bahujan Samaj Party (BSP). He did not, however, win the 2022 Assembly election.
According to reports, the ED is getting ready to submit a formal chargesheet against him because his business and political background is currently being investigated. Political circles have been rocked by this arrest, and as the ED looks into the assets and financial transactions connected to Gangotri Enterprises, the inquiry is likely to go even more extensive.
The "One State-One RRB" strategy will shortly be put into action by the Finance Ministry. This will save expenses, improve operating efficiency, and cut the number of Regional Rural Banks (RRBs) from forty-three to twenty-eight.
Bank loan Sources claim that the fourth phase of mergers will shortly start, with the majority of the consolidation's foundation already laid. According to the ministry's plan, 15 RRBs that are active in different states will combine. Bihar, Gujarat, Jammu & Kashmir, Karnataka, Madhya Pradesh, Maharashtra, Odisha, and Rajasthan are among the states named for consolidation, along with Andhra Pradesh, which currently has the most RRBs (4), Uttar Pradesh, and West Bengal (3 each).
Further consolidation in Telangana has been made possible by the completion of the asset and liability split between Telangana Grameena Bank and Andhra Pradesh Grameena Vikas Bank (APGVB). Bank loan These banks have already undergone capital infusions in order to get ready for the mergers.
An important turning point for RRBs occurred in the fiscal year 2021–2022, when the Center promised to contribute Rs 5,445 crore over two years to fortify their capital basis. Against this environment, RRBs posted their highest-ever consolidated net profit of Rs 7,571 crore in 2023–2024, indicating notable performance improvements. As of March 31, 2024, their capital adequacy ratio also hit a record 14.2%, while their asset quality, as determined by Gross Non-Performing Assets (GNPA), was at a decade-low 6.1%.
Through three stages of merger, the number of RRBs decreased from 196 to 43 by 2020–21 as a result of the structural consolidation process, which started in 2004–05. RRBs were founded in accordance with the Regional Rural Banks Act of 1976 in order to offer small farmers, agricultural laborers, and rural craftspeople financial services and financing.
In 2015, the Act underwent a significant revision that permitted RRBs to obtain funding from sources other than sponsor banks, state governments, and the federal government. Bank loan At the now, sponsor banks own 35% and state governments own 15% of each RRB, while the Central Government owns 50%. According to the modified law, the combined stock of the sponsor public sector banks and the Center cannot drop below 51%, even with future stake erosion.
As of March 31, 2024, the 43 RRBs operate a network of 22,069 branches across 26 states and 3 Union Territories—Puducherry, Jammu & Kashmir, and Ladakh—serving 700 districts. These banks are increasingly embracing technology, with more RRBs offering digital services to their rural customer base.
