Bank Accounts

ED freezes TMC bank deposits worth ₹440 crore in money laundering probe

ED freezes TMC bank deposits worth Rs 440 crore under the PMLA after searches in an alleged funds misappropriation case involving Carewell Aviation

NEET UG Re-test 2026: NTA urges candidates to update their bank details

NEET UG 2026 candidates have been urged by NTA to update their bank account details by July 7. Refund processing for candidates who were successfully verified has already started

Understand legal and financial risks before becoming a joint account holder

Use joint accounts only where shared access is genuinely needed; do your due diligence before joining

Orissa HC asks MHA to frame uniform policy on freezing bank accounts

Orissa High Court asks the Ministry of Home Affairs to frame a uniform national policy and SOP for freezing bank accounts during criminal investigations

Bank account suddenly blocked? Why it happens and what's the solution

From compliance gaps to legal mandates, understanding the specific trigger behind a restricted account is the first step toward restoring your financial access

Financial conflicts among couples: Balance joint and solo accounts

Regular money talks, setting up joint goals, and regular reviews can help couples stay aligned

Blanket freezing of bank accounts arbitrary, violates rights: Delhi HC

Blanket or disproportionate freezing of bank accounts, when the account holder is neither an accused nor a suspect in an investigation, is manifestly arbitrary and against one's fundamental right to livelihood and freedom to carry on trade and business, the Delhi High Court has said. Justice Purushaindra Kumar Kaurav said that indiscriminate freezing of accounts paralyses the day-to-day business operations of an otherwise innocent entity, resulting in loss of commercial goodwill and financial consequences. The observations came on a petition filed by Malabar Gold and Diamonds, seeking to direct the Centre and I4C to withdraw any communication or direction given to the State Bank of India and HDFC Bank to "put on hold" its bank accounts. Established under the Ministry of Home Affairs (MHA), I4C acts as a nodal point at the national level in the fight against cybercrime. The petitioner's bank accounts were frozen after a cyber complaint was registered against one of its customers for

Banks bring back in-person verification as digital fraud risks escalate

Banks are slowing down fully online account opening after a rise in mule accounts and digital fraud; lenders are now adding in-person checks and branch visits to make customer verification stronger

RBI pushes for return of unclaimed bank deposits over next 3 months

Balances in savings or current accounts that have not been operated for 10 years, or term deposits not claimed within 10 years from the date of maturity, are classified as 'unclaimed deposits'

PSBs shut 1.5 mn inoperative Jan Dhan accounts in 1-time exercise in April

Launched in August 2014, PMJDY was launched by Prime Minister Narendra Modi as a financial inclusion programme to provide access to banking services to a vast unbanked population

Account Aggregator ecosystem driving credit access, says Finance ministry

Account Aggregator ecosystem is poised to unlock new frontiers in formal credit access, especially for MSMEs and personal lending, contributing meaningfully to India's journey towards Viksit Bharat by 2047, the Finance Ministry said on Tuesday. The Account Aggregator (AA) framework was officially launched on September 2, 2021, establishing a secure, consent-based system for financial data sharing. In 2016, the Reserve Bank of India issued the Master Directions for the AA ecosystem. On the occasion of the 4th anniversary, the ministry in a statement said, the AA ecosystem has grown rapidly and is witnessing accelerated adoption across banking, securities, insurance and pension sectors, strengthening India's DPI (digital public infrastructure). As on date, 112 Financial Institutions have gone live both as Financial Information Providers (FIP) and Financial Information Users (FIU), while 56 have gone live solely as FIP and 410 as FIU, it said. Over 2.2 billion financial accounts are n

Fail to keep ₹50k in ICICI urban account? Here's how much you may be fined

The new account holders, who will open accounts after August 1, will need to maintain a higher minimum account balance in the savings account. A failure to do so may attract a penalty

Datanomics: Bank fraud accounts for 30% of cases investigated by ED

The number of fraud cases investigated by the ED has been steadily increasing, over a decade till 2024

35% bank account holders in India had inactive accounts in 2021: World Bank

World Bank's Global Findex 2025 finds over one-third of Indian bank accounts were inactive in 2021, driven by Jan Dhan accounts and lack of comfort in usage

CBI busts 850,000 mule accounts in 700 bank branches across five states

The CBI has detected 8.50 lakh mule bank accounts in over 700 branches nationwide which are being used by cyber criminals to launder proceeds from scams involving digital theft, impersonation, fraudulent investments, and UPI-based frauds, an enquiry by the agency has found. The central agency's crackdown on these mule accounts, opened using fake IDs for the limited use of siphoning victims' money, came through a coordinated search operation recently at 42 locations in Rajasthan, Delhi, Haryana, Uttarakhand and Uttar Pradesh during which nine suspects were taken into custody, officials said Thursday. Those taken into custody include alleged middlemen, agents, aggregators, account holders, and banking correspondents, all believed to be instrumental in orchestrating and facilitating the opening of these fictitious accounts, they said. A mule account opened in the name of an individual who may or may not be aware that the account is used to launder illicit money. The CBI has found that

HDFC Bank, ICICI Bank, Federal slash savings rates: New terms explained

Lenders shift too flat rates and others continue with tiered returns after central bank's policy decisions

Indian Bank launches new savings accounts for NRIs with global access

The Bank's new offerings aimed at a seamless combination of traditional trust and modern conveniences, reinforcing its position as a trusted banking partner for NRIs around the globe

Minors aged 10+ can open, operate bank accounts independently

Regulator says banks may offer facilities such as internet banking, ATM/debit cards, cheque books to minors

RBI allows minors above 10 years to open bank accounts independently

Minors of any age can open and operate savings and term deposit accounts through their natural or legal guardian

RBI permits minors above 10 yrs to operate bank accounts independently

The Reserve Bank on Monday permitted banks to allow minors above the age of 10 years to open and operate savings/ term deposit accounts independently. The Reserve Bank of India has issued revised instructions on opening and operation in the deposit accounts of minors. Minors of any age may be allowed to open and operate savings and term deposit accounts through his/ her natural or legal guardian, the RBI said in a circular addressed to commercial banks and cooperative banks. They may also be allowed to open such accounts with their mother as guardian. "Minors above such an age limit not less than 10 years and up to such amount and such terms as may be fixed by the banks keeping in view their risk management policy, may be allowed to open and operate savings/ term deposit accounts independently, if they so desire, and such terms shall be duly conveyed to the account holder," the circular said. Further, on attaining the age of majority, fresh operating instructions and specimen ...