Business & Economy

Bengaluru: Trust in banks is often implicit, especially in public sector banks, where customers deposit their hard-earned money with full faith. But what happens when that trust is betrayed from within? A shocking case has emerged from Malleswaram, Bengaluru, where a senior Canara Bank manager allegedly swindled customers of over ₹3 crore. The IncidentAccording to reports by Asianet, the incident took place at the Malleswaram branch of Canara Bank. The manager, identified as Raghu, reportedly took loans in the names of 21 customers and then absconded with the funds. This brazen act has shaken customer confidence and raised serious questions about the accountability within public sector banks. How the Fraud HappenedPolice sources revealed that Raghu cunningly gained the trust of his c...

India, the world’s third-largest auto market, could witness a significant reshuffle in car sales rankings by the end of 2025. Hyundai Motor India, long holding the second spot, is expected to drop sharply as Mahindra & Mahindra (M&M) and Tata Motors surge ahead. Changing Rankings in Auto SalesAccording to registration data available on the government portal Vahan, Hyundai has consistently held the second position since January 2019. Maruti Suzuki remains the market leader. However, by the end of this year, Mahindra & Mahindra is projected to sell 557,524 units, taking the second spot, followed by Tata Motors with 541,365 units in third place. Hyundai Motor India’s sales are estimated at 520,834 units, pushing it to fourth place for the first time. This includes registrati...

Khaleda Zia, the first female Prime Minister of Bangladesh and longtime political leader, passed away today at the age of 80 in a Dhaka hospital. Born in 1945 in Jalpaiguri, India, she married Ziaur Rahman in 1959, who later became President of Bangladesh in 1977. After the assassination of Ziaur Rahman in 1981, Khaleda Zia entered active politics and took charge of the Bangladesh Nationalist Party (BNP) in 1984. Under her leadership, the opposition won the 1991 elections, making her the country’s first woman Prime Minister. She held office from 1991 to 1996 and again from 2001 to 2006, leaving an indelible mark on Bangladesh’s political landscape. Net Worth and IncomeWhile exact details of Khaleda Zia’s net worth are not publicly verified, media reports suggest it was in the million...

Delhi is all set to welcome the New Year with grand celebrations. With just two days remaining, excitement is palpable among the city’s residents, especially the youth. Hotels, restaurants, pubs, and bars across the capital are preparing to make December 31 unforgettable, with live music, colorful lighting, and gourmet delicacies. Advance Bookings and Changing TrendsAccording to Girish Oberoi, General Secretary of the Federation of Hotel and Restaurant Associations of India (FHRAI), nearly 70% of rooms in major Delhi hotels are already booked. Many establishments are arranging live performances and special dishes for their guests, while some are offering exclusive discounts to retain loyal customers. However, this year, the celebration trend is shifting slightly. Club owner Ashish Go...

Vritika Agarwal, a 26-year-old from Agra, turned her creative passion into a thriving business. Leaving behind her Chartered Accountancy (CA) aspirations, she learned the art of making custom-made candles and launched her brand “House of Aura” with an initial investment of just ₹25,000. Today, her startup earns up to ₹1.5 lakh per month, leaving many inspired by her journey. Choosing Passion Over ProfessionAfter completing her B.Com, Vritika aimed to become a CA. However, during the COVID-19 pandemic, she realized her true inclination lay in creativity. Despite her parents’ initial skepticism, she left CA studies and started freelancing on social media. For three years, she helped various brands build a digital presence before deciding to start her own venture – House of Aura. Starti...

Chartered Accountant Nitin Kaushik has issued a crucial warning for investors: before thinking about investments, prioritize paying off high-interest loans from Non-Banking Financial Companies (NBFCs). According to Kaushik, loans with interest rates of 16–18% quietly erode your wealth, while average long-term investments generate only 12–13% returns. Paying off debt, he says, is equivalent to earning a guaranteed return. In a post on social media platform X, Kaushik emphasized that financial freedom does not begin with investing in mutual funds or stocks. Instead, it starts with eliminating the “wrong type of debt.” He specifically pointed out NBFC loans with high-interest rates as the silent killers of wealth. The Hidden Cost of High-Interest LoansKaushik explained with an example: ...

Renowned economist Peter Schiff, famously known as ‘Dr. Doom’ for predicting the 2008 financial crisis, has advised investors to focus on gold while staying cautious about silver. Schiff highlighted that gold is currently undervalued at $4,534 per ounce, presenting lower downside risk compared to silver, which remains highly volatile in the short term. In a recent post on social media platform X, Schiff warned, “There is significant short-term risk in buying physical silver at this time. I am not selling my silver, but waiting for the market to stabilize before buying more is prudent.” Contrastingly, Schiff’s outlook on gold is highly positive. “Now is the right time to buy gold. At $4,534, it’s a bargain and carries less risk of decline compared to silver,” he said. Silver’s Vola...

Silver witnessed extreme volatility today, with prices swinging sharply in just a short span of trading. Silver Hits Record High Before Sharp DropIn early trading, silver soared to ₹2,54,174 per kilogram on the MCX for March futures. However, during the afternoon session, prices plummeted by ₹21,000 in just one hour, hitting a low of ₹2,33,120 per kilogram. This decline was not limited to India—global silver markets also experienced similar fluctuations. Reason Behind the FallOn Monday, silver prices crossed $82 per ounce in international markets for the first time. But profit-booking and renewed optimism over a potential peace agreement between U.S. President Donald Trump and Ukrainian President Volodymyr Zelensky caused prices to fall below $75 per ounce. Trump had stated on Sunday...

As January 2026 approaches, bank holidays across India have been officially announced by the Reserve Bank of India (RBI). If you are planning to visit a bank next month, it is important to check the holiday calendar to avoid inconvenience. Total Holidays in JanuaryIn January 2026, banks will remain closed for 16 days, although holidays will vary by state. Public and private sector banks will observe these holidays on occasions such as New Year’s Day, Swami Vivekananda Jayanti, Bihu, Makar Sankranti, Netaji Subhas Chandra Bose Jayanti, and Republic Day. Some states may have banks closed for two or three consecutive days depending on local festivals. Additionally, banks will remain closed on every Sunday and on the second and fourth Saturdays of the month. Key Bank Holidays in January ...

The United States remains the world’s largest economy, and its stock market is now at record highs. With a total market capitalization reaching $72 trillion, no other country—or combination of countries—comes close. U.S. Market Outshines Global PeersThe U.S. public equity market alone exceeds the combined market capitalization of Europe, China, Hong Kong, Japan, India, France, and the U.K. In fact, the U.S. market is 3.5 times larger than Europe’s total market and similarly 3.5 times larger than the combined market of China and Hong Kong. The Nasdaq has doubled in value since 2022, now standing at $38 trillion, while the New York Stock Exchange’s market capitalization has grown by $10 trillion to $32 trillion. In comparison, the combined stock exchanges of China and Hong Kong are val...