Ambani was arrested along with executive assistant Kavita Mankikar and Senior Executive Arjun Patil in connection with the first FIR registered by the agency, in which 150 Letters of Undertaking (LoUs) worth Rs 6,498 crore are under probe.

The CBI officials on Monday conducted searches at Punjab National Bank's (PNB) Brady House branch in Mumbai even as whereabouts of Firestar Diamond owner Nirav Modi, who's accused of defrauding the bank of over Rs 11,400 crore, remain unknown.

PNB's Brady House branch received claims from Allahabad Bank and Axis Bank's Forex branches for which LoUs issued by PNB was due. This is when PNB officials found something was amiss.

In June this year, CAG had tabled a report on six other private players-Bharti Airtel, Vodafone, Idea Cellular, Aircel, Sistema Shyam Teleservices and Reliance Communications-shortchanging the exchequer by nearly Rs 7,700 crore.

The agency, they said, is investigating about 46 \"actionable\" cases of Indians on this global leaks list for possible violations under the Foreign Exchange Management Act (FEMA).

Bharti Airtel, along with other incumbent telecommunication service providers, has been engaged in a fierce tariff war with Mukesh Ambani-controlled Reliance Jio.

Observing that there has been a notable increase in the scale and persistence of India's net foreign exchange purchases, the US Department of Treasury has told the Congress that it will closely monitor New Delhi's foreign exchange and macroeconomic policies.

The case pertains to 628 Indians, who figured on a list of account holders in HSBC's Geneva branch that India had obtained from the French government in 2007.

The direct benefit transfer programme has resulted in Rs 50,000 crore savings for the government in the last three years as funds were directly transferred to 32 crore needy people, BJP President Amit Shah has said.

The inside story of how Arundhati Bhattacharya is carrying out the big human resources overhaul at SBI. This can become a template for other public sector banks.

Bank of America Merrill Lynch (BofA-ML) expects the Reserve Bank of India (RBI) to cut key interest rates by 25 basis points in its Monetary Policy Committee meet on August 2.

It is the third entity after Airtel and Paytm payment bank, to get the central bank's approval and the second after Airtel Payment Bank to commence operations.

Stepping up the heat on tax dodgers, the Income Tax department has asked banks to report deposits in any account aggregating Rs 10 lakh in a year, as well as cash payments of Rs 1 lakh or more for clearing credit card dues.

An India link has emerged in the alleged $3.5-billion forex trading fraud case at British banking giant HSBC, where two senior executives have been accused of doing 'front-running' by cheating a client that was selling part-stake in an Indian subsidiary.

Reserve Bank of India (RBI) governor Raghuram Rajan dropped a bombshell on Saturday saying he wouldn't seek the second term in the office after his tenure ends in September.

Stock market investors and India Inc would keenly be awaiting clues from the RBI Governor's monetary policy, more so on the economy and uncertainty over his much-talked second term.