financial security
Gujarat Court Penalizes ICICI Bank and Vodafone in Major SIM Swap Fraud Case: Rs 15 Lakh Fine Imposed
Dec 11, 2025 01:24 am CST
In a landmark ruling under India's IT Act, Gujarat's Adjudicating Officer has ordered ICICI Bank to pay Rs 10 lakh and Vodafone Rs 5 lakh in penalties after an Ahmedabad company lost Rs 1.19 crore through unauthorized transactions enabled by a SIM swap scam. The case highlights critical security vulnerabilities in banking and telecom sectors, with the court mandating ICICI Bank to refund Rs 1.05 crore to the victim company within six weeks.
LIC: India's Trusted Financial Guardian Despite International Scrutiny
Oct 26, 2025 11:09 pm CST
Life Insurance Corporation (LIC) stands as India's most trusted financial institution, serving generations of citizens through economic changes and challenges. Despite recent scrutiny from The Washington Post regarding its investment strategies, LIC maintains overwhelming public confidence based on decades of reliable service, prudent portfolio management, and deep community connections across the nation.
Finance Minister Sitharaman Warns of AI Deepfakes While Promoting India's FinTech Security Innovations
Oct 08, 2025 02:47 am CST
Finance Minister Nirmala Sitharaman addressed the Global FinTech Fest 2025, revealing she has been targeted by AI-generated deepfakes while highlighting India's technological advances in financial security. She discussed SEBI's new verification tools combating digital fraud and emphasized India's growing role in global AI development with initiatives like the $1.3 billion IndiaAI Mission, positioning the country as an emerging global hub for AI innovation.
Deadline Alert: Central Government Employees Must Choose Between UPS and NPS Pension Schemes by September 30
Sep 30, 2025 02:17 pm CST
Central government employees face a critical September 30 deadline to switch from the market-linked National Pension System (NPS) to the newly introduced Unified Pension Scheme (UPS). The UPS offers an assured pension with guaranteed minimum payout and lower risk compared to NPS. This one-time decision has significant implications for retirement planning, as employees remaining in NPS after the deadline cannot switch to UPS later.
Centre Directs Insurance Companies To Pass GST Benefits To Policyholders
Sep 16, 2025 04:48 pm CST
The government has directed insurance companies to proactively undertake outreach campaigns to publicise GST reforms and pass on the benefits to policyholders.