Thieves cut open ATM using gas cutter, loot Rs13.47L A gang of suspected interstate thieves executed a daring heist in Nagpur, targeting an ATM kiosk in Dongargaon, Hingna taluka. The criminals used a gas cutter to breach the Bank of India machine, extracting a total of Rs13.47 lakh in cash. The robbery occurred in the early hours of Tuesday, between 4:19am and 4:31am, when the area was likely unmonitored. According to police, the suspects, believed to be a four-member gang, managed to empty eight cash cassettes from two ATMs. The stolen amount was split between the machines: Rs77,600 from four cassettes of one ATM and Rs12.69 lakh from four cassettes of the other. The police suspect the gang may be linked to a failed ATM break-in attempt at Hudkeshwar earlier in the night, where an alarm was triggered and the thieves fled. The incident was reported by Swapnil Gabhne, a resident of New Ganesh Nagar, who lodged a complaint with Hingna police. Authorities registered a case against four unidentified individuals under provisions of the Bharatiya Nyaya Sanhita. Investigations are ongoing, with police teams analyzing CCTV footage from the ATM kiosk and nearby locations to identify the culprits. Forensic experts have also examined the scene for clues. Assistant Sub-Inspector Vijay Kalaskar is leading the investigation, and police are exploring possible connections between the Dongargaon heist and the Hudkeshwar incident. Authorities suspect the gang may originate from Haryana and are pursuing multiple leads to trace the suspects. The police have emphasized that the case highlights the growing challenges of ATM security, as thieves continue to adapt their methods.#bank_of_india #hudkeshwar #atm_kiosk #hingna_taluka #vijay_kalaskar
Nirav Modi must pay up over $11 million to Bank of India, U.K. court rules The High Court in London has ruled that fugitive diamond merchant Nirav Modi is liable to pay Bank of India over $11.5 million, including accrued interest on a personal loan guarantee. The decision, handed down on June 23, 2026, by Justice Simon Tinkler, resolved a long-standing legal dispute over the enforceability of Modi’s personal guarantee tied to a loan to a Dubai-based firm, Firestar Diamond FZE, which he was associated with. Modi, a 55-year-old jeweler currently imprisoned in the U.K., has been fighting extradition to India to face charges related to a $2 billion Punjab National Bank (PNB) fraud and money laundering case. Despite his incarceration, the court found that he was validly served with a demand letter from Bank of India in October 2025, which constituted a legitimate claim under the personal guarantee he provided. Justice Tinkler emphasized that the guarantee was not void under Indian law, making Modi personally liable for the principal amount of $4,105,189.34 and additional interest. The total amount due, including interest accrued until March 2026, was estimated at $11.5 million, with further interest expected to accumulate. The case, which Bank of India has pursued since 2018, centered on three key legal questions: whether Modi was properly served with the demand, whether the demand pertained to a liability he owed the bank, and whether the personal guarantee was enforceable. The court’s ruling confirmed that all three criteria were met, with Justice Tinkler noting that the case was purely a commercial banking recovery claim and did not address the broader fraud allegations against Modi or the PNB case. The legal proceedings faced significant delays due to complications within the U.K.#bank_of_india #nirav_modi #justice_simon_tinkler #firestar_diamond_fze #prison_service_uk
Public Sector Banks in India Report Significant Reduction in Non-Performing Assets Public sector banks in India have achieved a major milestone in improving their financial health, with non-performing assets (NPAs) reaching their lowest level in over a decade. This development marks a turning point for the banking sector, as institutions like the Bank of Baroda, Punjab National Bank, and Union Bank of India have significantly reduced their bad loan write-offs. The decline in NPAs indicates improved debt recovery and a stronger financial position for these banks, which has broader implications for the economy. According to recent data, the gross NPA ratio for public sector banks (PSBs) dropped to 1.93% as of March 31, 2026, a historic low. This decline is attributed to enhanced debt recovery mechanisms and a reduction in new bad loans. For instance, the Bank of Baroda recorded a write-off of approximately ₹6,330 crore, the lowest since 2018, while the Bank of India reported a write-off of ₹5,735 crore, the smallest since 2016. These figures highlight the banks' improved ability to manage and recover outstanding debts. The reduction in bad loans has also led to a surge in profits for PSBs. In the fiscal year 2025-26, the combined net profit of public sector banks rose by 11.1% to ₹1.98 lakh crore, marking four consecutive years of growth. This financial stability has bolstered public confidence in the banking system, making deposits safer and reducing the financial burden on the government. Analysts suggest that the improved financial health of PSBs could lead to easier access to credit for businesses and individuals, potentially stimulating economic growth. The success in reducing NPAs is also linked to proactive measures taken by banks to address non-performing loans.#bank_of_india #bank_of_baroda #reserve_bank_of_india #union_bank_of_india #punejab_national_bank
Summary of the News Article: Anil Ambani and His Companies Face Major Fraud Allegations The Central Bureau of Investigation (CBI) has registered a significant case against Anil Ambani and his associated companies, alleging a 2,220 crore rupee fraud. This follows a previous case filed by the Bank of India (BOI) in February 2021, where certain accounts were declared fraudulent. The latest case, initiated by the Bank of Baroda (BoB), highlights ongoing scrutiny of Ambani's financial dealings. Key Details of the Fraud: Misappropriation of Funds: The fraud involved the misuse of funds through manipulated accounts and fake transactions. Forensic Audit Findings: A forensic audit conducted by BDO India LLP revealed discrepancies, including the misappropriation of funds and violations of financial regulations. Account Manipulation: The companies allegedly altered account books to mislead the bank and conceal irregularities. Legal and Financial Implications: The CBI is investigating the case, which could lead to severe legal consequences for Ambani and his entities. The fraud has impacted Ambani's business operations, with BoB and BOI taking steps to recover losses. This case adds to a growing list of financial controversies involving prominent business figures in India. Context and Broader Impact: The allegations underscore the challenges of corporate governance and transparency in high-profile business ventures. The case also reflects the increasing role of regulatory bodies like the CBI in addressing large-scale financial misconduct. Conclusion: Anil Ambani's companies now face heightened legal scrutiny as the CBI probes allegations of a multi-billion rupee fraud.#anil_ambani #central_bureau_of_investigation #bank_of_india #bank_of_baroda #bdo_india_llp
