RAI Financial News

Credit growth continued to outpace deposit growth even as both have slowed over previous years according to the latest data released by the Reserve Bank of India. Outstanding bank deposits amounted to Rs222 lakh crore as of February 21, up 10.3% year-on-year compared to 13.1% in the same period a year ago according to the latest weekly statistical supplement released by the central bank. Outstanding bank credit on the other hand amounted to Rs 179.9 lakh crore as of February 21, up 11% y-o-y compared to 20.5% growth in the same period a year ago.

United States to complete the necessary formalities for the extradition of Tahawwur Rana, Ministry of External Affairs spokesperson Randhir Jaiswal said on Friday. Speaking at the weekly briefing, Jaiswal stated, you would have seen President Trump's comments regarding the extradition of Rana. The Joint Statement also reflects this sentiment. We are working closely with the US Government to complete the necessary formalities to allow for his extradition to India." Earlier on Thursday (local time), the US Supreme Court rejected the plea of the 26/11 Mumbai attack accused, Tahawwur Rana, seeking a stay on his extradition to India.

CBI judge S P Naik Nimbalkar. On Friday, newly assigned special judge J P Darekar told the prosecution and defence lawyers that the trial in the case will resume on a daily basis from March 10 as per the direction of the Bombay High Court. Bora (24) was allegedly strangled to death in a car by Indrani Mukerjea, her then driver Shyamvar Rai (who later turned approver in the case) and Mukerjea's former husband Sanjeev Khanna in April 2012. Her body was burnt and disposed of at a forest in nearby Raigad. Media baron Peter Mukerjea, ex-husband of Indrani, is also an accused in the case. The murder came to light in 2015 after Rai spilled the beans about the murder following his arrest in another case. Indrani Mukerjea and Khanna were arrested in August 2015, while Peter Mukerjea was arrested three months later. All the accused are currently out on bail.

Regional Rapid Transit System (RRTS) corridor between New Ashok Nagar and Sarai Kale Khan are expected to commence by the end of April, according to officials. Sarai Kale Khan, the largest station on the Delhi-Ghaziabad-Meerut Namo Bharat corridor, is nearing completion and will serve as a key transport hub, integrating with multiple transit systems.

Donald Trump has once again criticised India’s trade policies, calling it a «very high tariff nation» and warning that reciprocal tariffs will come into effect on April 2. Speaking at an Oval Office event on Thursday, Trump described the upcoming levies as «the big one» among the many duties his administration has planned. India is expected to be hit particularly hard by these measures due to its high tariffs compared to the US. The comments come as Indian Commerce Minister Piyush Goyal is in Washington for discussions with Trump administration officials on trade policy between the two nations. Trump, known for his strong stance on trade, has repeatedly accused India of imposing unfair trade barriers that hurt American businesses. He has previously called India the «biggest tariff abuser» and the «tariff king.»

Enforcement Directorate (ED) in Gurugram on Friday arrested Ashish Bhalla, promoter of the WTC Group, under the Prevention of Money Laundering Act (PMLA) in connection with a massive real estate fraud. Bhalla is accused of cheating and duping thousands of investors through a well-planned conspiracy. During the investigation, it was found that investors were promised assured returns in exchange for their investments in plots and commercial spaces. However, instead of delivering on these promises, the funds were allegedly diverted to several shell companies. These companies were used to acquire land in multiple locations.

CBI to transfer trial against jailed JKLF chief Yasin Malik and other co-accused in two cases from Jammu and Kashmir to Delhi. A bench of Justices Abhay S Oka and Ujjal Bhuyan deferred the matter as Solicitor General Tushar Mehta was not available. During the hearing, Malik appeared before the court through video-conferencing. He requested the court to post the matter after Ramzan to which the bench agreed.

Mutual Funds in India (AMFI). The study reveals a significant rise in the assets under management (AUM) held by women in mutual funds for over five years, increasing from 8.8% in March 2019 to 21.3% in March 2024. In comparison, male investors' long-term holdings grew from 8.2% to 19.9% during the same period. The number of women investors holding mutual fund investments for less than a year decreased from 40.5% to 25.4% between 2019 and 2024. For male investors, this short-term holding percentage declined from 42.1% to 27%. This data indicates a stronger inclination among women to maintain their investments over longer periods compared to men. Also Read | Midcap stocks down 20% from peak. What should mutual fund investors do?

Amit Shah said that under the vision of Prime Minister Narendra Modi, youth will now be able to write their Central Armed Police Forces (CAPF) examination in all languages in the eighth schedule, including Tamil. He inaugurated various infrastructure and development projects at the 56th Raising Day of CISF in Arakkonam, Ranipet, on Friday. He released the CISF journal 'Sentinel' on the occasion. He reviewed the parade being held at the 56th Raising Day of CISF in Arakkonam.

Jammu and Kashmir Omar Abdullah on Thursday said that the BJP should take back parts of Jammu and Kashmir from Pakistan as well as China. Abdullah, while speaking in the J&K assembly said that BJP keeps criticizing Congress for losing Haji Peer to Pakistan and other things, instead BJP should tell us what they brought back in the Kargil war in 1999 when they had the opportunity and excuse that Pakistan had attacked first. “One part of Kashmir is with Pakistan. Today Foreign Minister has said that they will take that back. Who has stopped you? We never said don't take back that part of Kashmir back. We are saying, why are you silent on the part that is with China?” Abdullah asked.

The incident occurred in February 2022, when the woman allegedly ordered her 49-year-old partner, who was her common-law husband, to go outside while naked. She then confined him to the balcony, where he remained exposed to the cold temperatures overnight.

Directorate of Enforcement (ED) has provisionally attached movable and immovable properties worth Rs 65.46 crore in connection with a money laundering case involving a former general manager-ranked officer of a Sikkim-based bank. The ED said in a statement that the attached assets include four residential properties and land parcels located in Deorali, Syari, Ranipool and Penlong — all in Sikkim. These properties were allegedly acquired using proceeds from fraudulent activities linked to siphoning of funds from the State Bank of Sikkim (SBS) by Dorjee Tshering Lepcha, its former general manager (operations). Additionally, several bank accounts with a combined deposit of approximately Rs 53.41 crore in the names of Lepcha and his family members have also been frozen, the statement said.

Kim Kardashian has revealed that her sister Khloé made a big sacrifice for her when the reality show star decided to divorce first husband, Damon Thomas. In Thursday's episode of their show, The Kardashians, Kim talked about the special gift she brought for Khloé for her 40th birthday.

While Paramount+ has yet to make an official announcement, reports suggest that the Billy Bob Thornton-led drama is set to begin filming its second season in Fort Worth, Texas, later this month, as mentioned in a report by Collider. The surprising revelation did not come from the show’s creators or the streaming platform but rather from a local casting call—a strong indication that Taylor Sheridan’s oil drama is moving forward.

Minnesota Vikings started their off-season activities with a safety, Theo Jackson, who received a two-year agreement valued at $12.615 million. Jackson participated in every Vikings game the past season before his pending restricted free agent status. The Vikings invested in extending Jackson’s contract despite his primary role as a special teamer because they foresee him taking on defense responsibilities in the future.

David Miller said his team’s hop to Dubai and back ahead of t h e i r Champions Trophy semifinal defeat to New Zealand in Lahore was “not ideal”. The tangled scheduling of the event came into question as Australia and South Africa both had to fly to Dubai from Pakistan ahead of the semi-finals. South Africa were there for less than 24 hours before jetting back again without playing a game. Australia stayed and lost in the last four to India. The haphazard scheduling was a result of India playing all their games in Dubai after refusing to travel to Pakistan. “It’s only an hour and 40 minute flight, but the fact that we had to do that was not ideal,” Miller said after South Africa lost to New Zealand on Wednesday by 50 runs. South Africa made what was ultimately a wasted trip soon after defeating England in Karachi on Saturday. “It’s early morning, it’s after a game and we had to fly. Then we got to Dubai at 4:00 pm. And at 7.30 am we had to come back. It doesn’t make it nice.

income tax department to encourage taxpayers to declare foreign assets and income has resulted in taxpayers disclosing foreign assets worth ₹29,208 crore, said people familiar with the matter. The Central Board of Direct Taxes (CBDT) launched the compliance-cum-awareness campaign in November 2024, leveraging data from more than 125 countries to nudge taxpayers to come clean about their overseas holdings. The four-month drive resulted in 30,161 taxpayers declaring foreign assets, with 24,678 reviewing their income tax returns (ITRs) and 5,483 filing belated returns, said the people. «The campaign yielded significant results, with 24,678 taxpayers reviewing their ITRs and 5,483 taxpayers filing belated returns for AY (assessment year) 2024-25, declaring foreign assets worth ₹29,208 crore and additional foreign income of ₹1,089.88 crore,» said one of the persons, who did not wish to be identified.

The apartments spread over a total built up area of 5,045 sq ft on the 18th and 19th floor of the tower to four different buyers. These four apartments also include a duplex spanning over 18th and 19th floor and this has been sold for Rs 6.35 crore. The deals were registered on Monday and has attracted cumulative stamp duty worth Rs 84.47 lakh, showed the documents accessed through IndexTap.com. Priyanka’s mother Madhu Chopra has executed both the deals on the actor’s behalf.

Lavrov also reaffirmed his country's opposition to European forces being deployed in Ukraine if an accord was made to halt the conflict. Macron on Wednesday called Russia a «threat to France and Europe» and said France was «legitimately worried» about the United States shifting its position on the Ukraine conflict under US President Donald Trump.