ED Investigates Reliance Anil Ambani Group a in ₹12,500 Cr Fraud
The Enforcement Directorate has launched a wide-ranging money laundering investigation into the Reliance Anil Ambani Group and its associated entities, over alleged large-scale loan scam. The government told Rajya Sabha the Enforcement Directorate probe follows two CBI FIRs from Sept 2022 amid rising loan frauds. On July 22, the ED filed an ECIR to probe…
ABHYUDAYA MITTAL
NPCI to Roll Out Exclusive UPI Rules from August 1
Starting August 1, 2025, the NPCI will implement new UPI rules, introducing updated API guidelines for banks and payment apps. The changes aim to improve features like AutoPay and balance checks, enhancing system stability during peak usage. Everyday payments may stay the same, but the new UPI rules will tighten controls on functions like balance…
Internet Ad Surge Drives India’s E&M Growth: PwC
India is reinforcing its position as one of the world’s fastest-expanding entertainment and media (E&M) markets, fueled by swift digital transformation and a surging internet advertising sector, according to PwC’s Global Entertainment & Media Outlook 2025–2029. India’s entertainment and media sector is poised for a strong 7.5 percent CAGR through 2029, more than double the…
Myntra Faces ED Heat in ₹1,654 Cr FDI Violation Case
Myntra Designs Pvt Ltd faces a FEMA complaint from ED’s Bengaluru office for alleged ₹1,654 crore FDI violations by operating retail under the guise of wholesale. According to the agency, the move constitutes an alleged breach of FDI regulations and the stipulations of the Foreign Exchange Management Act. By excluding inventory based operations FDI policy…
Himanshu
India’s Urban Areas Need $2.4Trillion for Climate Defense
India needs to pour in $2.4 trillion by 2050 to equip its fast-expanding cities against worsening floods, heatwaves, and other climate threats, the World Bank said on Tuesday. India’s urban population is expected to rise sharply to 951 M by 2050, up from 480 M in 2020 and the rising concerns of volatile rainfall, heatwaves…
Abdullah Ansari
Chanda Kochhar Guilty in ₹300 Cr Videocon Loan Scandal
An appellate tribunal has determined that former ICICI Bank CEO Chanda Kochhar received a ₹64 crore kickback, channeled through her husband’s firm in exchange for sanctioning a ₹300 crore loan to the Videocon Group. In its July 3 ruling, the appellate court declared the ₹64 crore payment channeled through Deepak Kochhar’s firm, an unmistakable quid‑pro‑quo for approving the ₹300 crore Videocon loan.”…
Vipin
CoinDCX Suffers Massive $44M Loss in Latest Crypto Heist
CoinDCX, one of India’s top crypto exchanges, disclosed a $44 million hack on Sunday, leading to major fund losses. CoinDCX confirmed that customer assets remain safe, unaffected, and fully accessible.The hack was promptly contained, impacting only internal accounts used for liquidity on a partner platform. Trading and withdrawals remain fully functional. Unapproved access resulted in…
Govt Greenlights NLCIL’s ₹7,000 Cr Energy Venture
The Union Government has cleared a ₹7,000-crore investment by NLC India Ltd (NLCIL) into its renewable energy subsidiary, NLC India Renewables Ltd (NIRL), marking a major push toward India’s clean energy goals. The move reinforces the Centre’s focus on scaling up green infrastructure and curbing dependence on fossil fuels. The Centre has cleared a ₹7,000-crore…
Shipra Prajapati
Mira Murati’s AI Firm Scores $12B Valuation in Early Investment
Former OpenAI Executive Mira Maruti’s AI startup Thinking Machines Lab has raised $2B in its latest funding round led by Andreessen Horowitz. It took the firm’s valuation to a whopping $12B. In addition to Andreessen Horowitz, the round saw participation from prominent tech players including Nvidia, Accel, ServiceNow, Cisco, AMD, and Jane Street, highlighting broad…
India Crosses 50% Clean Energy Milestone Pre-2030, Says Pralhad Joshi
India has taken a significant leap in its green energy journey, reaching a key milestone by sourcing 50% of its total installed power capacity from renewable energy, well ahead of the 2030 target, Union Minister for New and Renewable Energy Pralhad Joshi declared on Tuesday. While visiting IIT Bombay, Joshi informed the media that India…
