Axis Bank
Bank Manager Arrested in Mumbai for Creating Mule Accounts in Digital Arrest Cybercrime Scheme
Nov 13, 2025 02:45 am CST
Axis Bank manager Nitesh Rai was arrested in Mumbai by the CBI for allegedly creating mule accounts used in digital arrest fraud schemes. The investigation revealed a pattern of organized cybercrime networks exploiting banking systems to launder funds stolen from innocent citizens, with two cybercriminals also named for bribing the bank official.
Delhi High Court Rules SC/ST Act Cannot Override Bank's Legitimate Mortgage Rights
Oct 23, 2025 10:15 am CST
The Delhi High Court has ruled that provisions of the SC/ST Act regarding land dispossession cannot be used to prevent banks from exercising lawful mortgage rights. Justice Sachin Datta stayed proceedings against Axis Bank initiated by the National Commission for Scheduled Tribes, declaring the Commission lacked jurisdiction in a case involving a defaulted Rs 16.69 crore loan secured by mortgaged property.