Breaking News
‘Mothers, sisters living in fear’: PM Modi writes to people of Bengal ahead of polls | India News


‘Mothers, sisters living in fear’: PM Modi writes to people of Bengal ahead of polls

NEW DELHI: Prime Minister Narendra Modi on Monday wrote a letter to the voters of West Bengal ahead of the Assembly elections in the state, saying he was “heartbroken” about what he described as the state’s present condition.In his letter, the Prime Minister accused the Mamata Banerjee-led government of “extreme non-cooperation” and said the state’s destiny would be decided in a few months.Beginning the letter with “Joy Maa Kali,” PM Modi wrote: “Just a few months remain, after which the destiny of West Bengal will be decided. The responsibility of determining the path of the next generation’s future rests upon your thoughtful decision. The people of my dream ‘Sonar Bangla,’ young and old alike, are today victims of deep deprivation. My heart is heavy with their suffering. Therefore, from the depths of my being, I have taken one resolve — the resolve to make West Bengal developed and prosperous.“Just a few months remain, after which the destiny of West Bengal will be decided. The responsibility of determining the path of the next generation’s future rests upon your thoughtful decision. The people of my dream, “Sonar Bangla,” young and old alike, are today victims of deep deprivation. My heart is heavy with their suffering. Therefore, from the depths of my being, I have taken one resolve — the resolve to make West Bengal developed and prosperous,” he added.“Despite the state government’s extreme non-cooperation and hostility, today 50 million people in West Bengal have been brought into the banking system through the Jan-Dhan Yojana. Under the Swachh Bharat Mission, we have enabled the construction of 8.5 million toilets in the state. While the ruling party deprives the poor of their basic sustenance, we have extended a helping hand to small traders and entrepreneurs through loans worth Rs 2.82 lakh crore. Through the Atal Pension Yojana, we have helped 5.6 million senior citizens achieve financial security in old age. Under the Ujjwala Yojana, we have delivered cooking gas connections to more than 10 million families, freeing mothers and sisters from the hardships of smoke-filled kitchens. At a time when the very providers of food struggle for survival, we consider ourselves fortunate to have supported more than 5.2 million farmers directly through the PM-Kisan Samman Nidhi scheme,” the letter further read.If the Bharatiya Janata Party comes to power in West Bengal, PM Modi claimed it would build a state where women feel secure, where young people need not leave home for work, and where Bengali culture regains its glory.“My humble appeal to the people of West Bengal: join this journey of development. I eagerly await an opportunity to serve you — an opportunity to build a state where, in Gurudev’s words, ‘the mind is without fear and the head is held high.’ A West Bengal free from corruption and misrule,” the letter said.“A West Bengal where women feel secure, where young people need not leave home for work, where Bengali culture regains its glory. Our refugee brothers and sisters, victims of religious persecution, will gain citizenship through the CAA, and a governance free from illegal infiltration will be established,” he added.



Source link

Kalyan–Badlapur Corridor: Road and metro investments in Kalyan belt aim to decongest overburdened rail network | Thane News


This substantial investment, managed by MMRDA, aims to ease commuter stress, decongest the rail network.

KALYAN: Amid rapid urban expansion and rising commuter stress across Thane district’s satellite cities, the state government recently has unveiled a substantial funding allocation to accelerate metro and road infrastructure works in the Kalyan–Badlapur corridor. The investment, channelled through the Mumbai Metropolitan Region Development Authority (MMRDA), is aimed at decongesting overcrowded suburban rail routes and strengthening regional connectivity.The ₹4,897.19 crore provision was announced during the presentation of MMRDA’s 2026–27 budget at a meeting chaired by deputy chief minister Eknath Shinde. Officials said the allocation reflects the urgent need for long-term mobility solutions as population growth, industrial development, and vehicular traffic continue to strain existing infrastructure.According to authorities, a major portion of the funds will support the expansion of the metro network. The budget outlines funds allocated for major projects: Metro Line 5 (Thane–Bhiwandi–Kalyan): ₹1,309.30 crore; Metro Line 5A (Durgadi–Ulhasnagar extension): ₹183.35 crore; Metro Line 12 (Kalyan–Taloja): ₹1,054.54 crore; Metro Line 14 (Kanjurmarg–Badlapur): ₹500 crore; Kalyan–Shilphata Junction to Bhiwandi flyover: ₹150 crore; Kalyan Ring Road: ₹600 crore; Vitthalwadi–Kalyan Ahilyanagar elevated road: ₹200 crore; and Airoli–Katai Freeway (Phase 3): ₹900 crore.Among the most significant announcements is the ₹500 crore sanction for Metro Line 14 (Kanjurmarg–Badlapur). The corridor is expected to provide relief to lakhs of daily railway commuters travelling to Mumbai and Thane from Badlapur, Ambernath, Kalyan and Dombivli, many of whom currently endure packed suburban trains.Transport planners believe the line will emerge as a crucial alternative mode, offering faster and more comfortable connectivity across the Badlapur to Thane and Mumbai belt.Similarly, the Metro Line 5A extension up to Ulhasnagar is being viewed as another potential game changer. By linking Ulhasnagar more directly with Metro Line 5 (Kalyan Bhiwandi-Thane) and further to Mumbai, the project is expected to improve last-mile connectivity, reduce road congestion, and strengthen integration with the broader metro network.MP Dr. Shrikant Shinde, who represents the Kalyan Lok Sabha constituency, welcomed the allocation and credited sustained follow-up with the state government and MMRDA for securing the funds. He expressed gratitude to chief minister Devendra Fadnavis and deputy chief minister Eknath Shinde, stating that multiple projects are already underway and the fresh funding will help ensure their timely completion.Urban development experts say the combined metro and road investments mark a pivotal step towards structured urbanisation in the Kalyan–Badlapur belt. Once operational, the projects are expected to reshape commuting patterns, enhance economic activity, and significantly improve quality of life for residents across one of the fastest-growing suburban corridors in the Mumbai Metropolitan Region.The citizens also welcome state government decisions saying it will bring major relief to commutters who in these region primary depends upon rail network for transport and travels in packed train risking their life.

Banner Insert



Source link

Over 50k of 2.6 lakh missing Madhya Pradesh women & girls still untraceable, says govt | Bhopal News


BHOPAL: More than 50,000 women and girls, of 2,69,500 who went missing across Madhya Pradesh over the last six years, continue to remain untraceable, the state government revealed in the Assembly, adding that the cases are listed as ‘pending’ as no information has been received on their whereabouts.In a written reply to a question posed by Congress MLA Vikrant Bhuria in the House on Feb 18, the government quoted figures stating that over 2.06 lakh women and 63,500 girls went missing across the state between 2020 and 2026. However, it informed the Assembly that 1.58 lakh missing women and 61,000 girls have been rescued, adding that the remaining missing cases should not be considered closed till there is no information on whereabouts or fates.

Bhopal: 74 Labourers Rescued, Rahul & Kharge To Address Farmers, Drunk Driver Injures 4 & More

-

The Congress MLA sought data on the number of reports of missing women and girls registered across all police station areas of the state between 2020 and 2026. He also sought to know how many of those missing were traced and rescued and those still untraceable. He also demanded that the state revert with details of the action plan by the department concerned with regard to women and girls still missing and the budget to ensure women’s safety.The state, in its written reply, stated that cases involving close to 48,000 missing women and 2,200 girls were still tagged as ‘pending’, for lack of any information yet on their whereabouts.Among the four main cities — Bhopal, Indore, Gwalior and Jabalpur — the state’s industrial capital reported 4,449 women and 135 girls as missing in the last six years, topping the charts, while Bhopal (urban) reported 1,685 and 56 missing women and girls in the same period of time. Further, the written reply detailed that Gwalior accounted for 1,188 missing women and 14 girls over the past six years, with Jabalpur reporting 2,296 women and 86 girls missing within the same time span.The government said 52 women’s police stations have been established in the state to ensure prompt hearing and disposal of all complaints and cases related to women. In addition, instructions are issued from time to time to other police stations as well for the prevention of crimes against women and for effective investigation, the government stated in its reply.To prevent crimes committed against women, a total of 987 women’s helpdesks are operational in the state, the reply read further, adding that a year-long campaign is underway to trace missing minor girls and boys.A special campaign, ‘Operation Helping Hand’, was also underway to enable prompt execution of warrants issued by courts for the maintenance and support of women, the state informed the House, adding that both campaigns were being continuously reviewed at the headquarters level by the women safety branch of the state police.To create awareness about crimes against women, the ‘Sraja’ programme for adolescent girls, ‘Abhimanyu’ for boys, and ‘Samman’ campaign for all women were being conducted, under an integrated campaign since January, this year, the reply read, adding that for fiscal 2025–26, a budget allocation of Rs 41,88,54,200 was made for women’s safety.



Source link

IDFC First Bank fraud case: RBI ‘watching development’; what the central bank said


IDFC First Bank fraud case: RBI ‘watching development’; what the central bank said

IDFC First bank has filed police complaints, informed regulators and statutory auditors, and begun recovery measures.

The Reserve Bank of India (RBI) on Monday reacted to the IDFC First Bank fraud case that came to light over the weekend. “We are watching the development, there is no systemic issue,” RBI governor Sanjay Malhotra said.The Rs 590 crore fraud linked to Haryana government accounts stemmed from collusion between certain IDFC First Bank employees and outside entities, Managing Director and Chief Executive Officer V. Vaidyanathan said on Monday.Speaking during a special call with investors and analysts before the equity market opened, Vaidyanathan said the bank would make provisions in accordance with its policy of recognising stress at an early stage. He added that the financial impact is not expected to significantly dent profitability, noting that improved net interest margins and lower credit costs would provide support.“So, on a standalone basis, we were expecting a very solid Q4 in terms of profitability,” Vaidyanathan said.Following the disclosure of the fraud involving Haryana government accounts, the state government removed IDFC First Bank and AU Small Finance Bank from its empanelled list for handling government business. AU Small Finance Bank has denied any involvement in wrongdoing.Vaidyanathan said the independent forensic review being conducted by advisory firm KPMG is likely to be completed within four to five weeks. “We appointed KPMG only yesterday (Sunday)… typically, to the best of my understanding, these processes could take about 4-5 weeks to conclude,” he said.The discrepancy has been estimated at about Rs 590 crore, which includes Rs 490 crore identified through reconciliation and an additional Rs 100 crore detected internally. Vaidyanathan indicated that the figure is unlikely to rise further. “We have put out this number as we could have assessed at this point of time — we don’t anticipate this to broadly move from here on,” he said.He added that recoveries, along with an “employee dishonesty insurance” cover of Rs 35 crore, could help mitigate the financial impact.Describing the matter as a case of collusion involving staff and external parties through forged physical cheque transactions, Vaidyanathan said the irregularities were restricted to a single branch and one group of clients. He maintained that there was no flaw in the bank’s reporting systems.The bank has filed police complaints, informed regulators and statutory auditors, and begun recovery measures including lien-marking actions across the banking network, he said.According to Vaidyanathan, deposits linked to the Haryana government account for around 0.5 percent of the bank’s total deposits. Overall government deposits, including those from central and state entities, make up between 8 and 10 percent of the deposit base.



Source link

T20 World Cup 2026 [WATCH]: Washington Sundar and David Miller engage in explosive mid-pitch confrontation during IND vs SA Super 8 clash



The high-octane atmosphere of the Narendra Modi Stadium witnessed a rare breach of professional composure during the India vs South Africa T20 World Cup 2026 Super 8 clash on Sunday. In a tournament defined by its high stakes, the tension finally reached a breaking point during the 14th over of the South African innings. What began as a routine middle-over sequence transformed into a startling face-to-face confrontation between Washington Sundar and David Miller, two cricketers typically celebrated for their ‘ice-cold’ temperaments.

T20 World Cup 2026 Super 8: Washington Sundar and David Miller involved in heated verbal duel

The friction was ignited by a tactical grievance regarding the non-striker’s conduct. After Tristan Stubbs nudged a delivery for a single, Sundar became visibly incensed, accusing Miller of gaining an unfair advantage by leaving his crease before the ball was legally delivered.

Sundar immediately halted his follow-through to voice a sharp complaint to umpire Chris Gaffaney, gesturing toward the non-striker’s end to highlight Miller’s early movement. The Indian all-rounder’s frustration seemed rooted in the ‘spirit of the game’ debate, as he felt Miller was intentionally ‘backing up’ too far to shorten the distance for a quick run, a move that clearly rattled the bowler’s concentration during a critical phase of the innings.

The situation rapidly deteriorated from a formal complaint into a direct and aggressive shouting match between the two players. Miller, clearly unimpressed by Sundar’s accusations, approached the bowler with a quizzical and defiant stance, leading to a fiery exchange of words that continued even as the players headed toward their respective dugouts for the scheduled drinks break.

The intensity of the debate forced Ishan Kishan and the on-field umpires to physically step in and separate the duo. Even as Proteas captain Aiden Markram arrived to provide a calming influence, the animated gestures from both Sundar and Miller suggested a deep-seated disagreement that was not easily defused, marking one of the most hostile individual battles of the T20 World Cup so far.

Here’s the video: 

Also READ: Fans troll Hardik Pandya’s girlfriend Mahieka Sharma after viral reaction to his dismissal vs South Africa in T20 World Cup Super 8

Miller and South Africa punishes Suryakumar Yadav’s side in Ahmedabad

While the altercation provided a brief moment of adrenaline for the Indian side, it ultimately proved to be a catalyst for South African aggression rather than a distraction. Miller channeled his frustration into a masterclass of power-hitting, blasting a decisive 63 off 35 balls to propel his team to a formidable total of 187/7. For India, the emotional energy spent in the confrontation yielded no tactical benefit; the hosts’ batting lineup ‘crumbled’ shortly after, failing to stitch together any meaningful partnerships. The resulting 76-run defeat exposed the fragility of India’s ‘attack-at-all-costs’ strategy and underscored the heavy price of losing focus during such high-pressure international fixtures.

Also READ: 3 reasons behind India’s crushing defeat against South Africa in T20 World Cup 2026 Super 8 clash





Source link

Teela jamalpura murder: Stabbed 24 times in 30 seconds: 2 minors storm snooker club, hack Class 10 boy; chilling video posted on Instagram | Bhopal News


Stabbed 24 times in 30 seconds: 2 minors storm snooker club, hack Class 10 boy; chilling video posted on Instagram
Two 16-year-old boys allegedly attacked another 16-year-old with a large knife at a pool club in Teela Jamalpura, inflicting over two dozen blows

BHOPAL: A video went viral on social media platforms on Monday showing two 16-year-old boys allegedly entering a pool club and attacking another 16-year-old boy with a large knife in Teela Jamalpura area. In the video, the accused were seen repeatedly stabbing the minor, reportedly inflicting more than two dozen blows in less than 30 seconds. The incident occurred around 9:15 pm on February 15 and is said to have stemmed from an old dispute. Teela Jamalpura Police Station has registered a case against the two minor accused and served them notices. Investigation officer Sub-Inspector Mahipal Singh said the complainant, a 16-year-old boy, a Class 10 student, is a resident of Gautam Nagar. He said that on the night of February 15, he had gone to watch a pool game on the first floor near Ganesh Chowk in Teela Jamalpura. While he was sitting there, the two accused arrived, abused him and allegedly threatened him, saying he was acting overly dominant in the pool game and that they would “teach him a lesson.When he objected to the abuse, the two allegedly assaulted him with fists and then attacked him with a sharp-edged weapon. The victim said he tried to defend himself with his left hand but sustained injuries to his left palm, fingers, below the elbow, as well as below the right elbow and on his back. He began bleeding profusely. Pool club employees Junaid and Arham intervened and separated them. Before leaving, the accused allegedly threatened to kill him if they saw him again at the pool club. The injured boy later informed his father, who took him to Hamidia Hospital for treatment. Due to severe injuries to his fingers and palm, he was admitted and underwent surgery. He was discharged on February 16 and subsequently approached the police station with his father to lodge a complaint. The video was reportedly shared by the accused itself on Instagram.SI Singh said a case was registered on February 16. As the accused are minors, they were served notices in the presence of their parents. He said the attack was a fallout of an old dispute between the accused and the injured boy. Prior to the incident, the injured minor had allegedly assaulted the accused. All three boys involved are 16 years old. Further investigations are on and more stringent sections can be included in the case.



Source link

Blow to Trump’s tariffs: US to halt illegal duty collections on global imports from Tuesday


Blow to Trump's tariffs: US to halt illegal duty collections on global imports from Tuesday

Three days after the US Supreme Court struck down President Donald Trump’s tariffs, the customs department has announced the date on which the duty collections will end. The US Customs and Border Protection (CBP) said that it will stop collecting tariffs imposed under the International Emergency Economic Powers Act (IEEPA) from 12:01 a.m. EST (0501 GMT) on Tuesday.In a notice sent to shippers through its Cargo Systems Messaging Service (CSMS), the agency said that from Tuesday onwards, it would deactivate all tariff codes linked to President Donald Trump’s earlier IEEPA orders, Reuters reported. However, the decision to halt these collections comes alongside Trump’s rollout of a fresh 15% global tariff under a separate legal authority, intended to replace the duties invalidated by the Supreme Court earlier last week. At the same time, CBP also did not specify why the tariffs continued to be collected at ports of entry in the days following the court’s ruling. The communication also did not address whether importers would receive refunds.According to the agency, the suspension applies only to IEEPA-related tariffs and other duties introduced by Trump, including those under the Section 232 national security law and the Section 301 unfair trade practices law, remain unaffected.“CBP will provide additional guidance to the trade community through CSMS messages as appropriate,” the agency said.The Supreme Court’s verdict could make more than $175 billion in US Treasury revenue from IEEPA tariffs eligible for refunds, Reuters reported, citing estimates from Penn-Wharton Budget Model economists. Their ground-up forecasting model suggested the IEEPA-based duties had been generating over $500 million a day in gross revenue.



Source link

‘24 months of planning, Sikandar Raza’s spark’: Ryan Burl on Zimbabwe’s dream run at T20 World Cup | EXCLUSIVE | Cricket News


‘24 months of planning, Sikandar Raza’s spark’: Ryan Burl on Zimbabwe’s dream run at T20 World Cup | EXCLUSIVE
Zimbabwe’s Ryan Burl celebrates the wicket of Australia’s Glenn Maxwell in Colombo. (AP Photo)

NEW DELHI: Who will make it to the Super 8s of the 2026 T20 World Cup? Most expected names — India, Australia, England, Pakistan, West Indies, South Africa, New Zealand, and Sri Lanka — dominated the predictions. Even the USA was mentioned. Other teams, including Zimbabwe, were largely tagged as “underdogs.”Go Beyond The Boundary with our YouTube channel. SUBSCRIBE NOW!But Zimbabwe have shattered that perception. With majestic performances, they earned their place in the Super 8s, defeating Oman, Australia, and Sri Lanka along the way and sending a clear message: they are not underdogs.After the 2024 T20 World Cup, while the world speculated about the 2026 edition, Zimbabwe quietly went back to basics. They focused on learning, practicing, planning, and grinding hard without making noise. The results speak for themselves — Zimbabwe have emerged as the ‘Cinderella’ team of the tournament.

T20 World Cup | Zimbabwe assistant coach Dion Ebrahim on underdogs and shock wins

Now, Zimbabwe face another big test. They are placed in a tough Super 8 group with defending champions India, 2024 runners-up South Africa, and two-time champions West Indies. To reach the semifinals, they must finish in the top two of the points table.For Zimbabwe batter Ryan Burl, this success is not just a dream or a statement against their underdog tag. “This is the result of a 24-month plan we made and are now executing well,” he disclosed. Their journey reflects strategy, hard work, and belief, and now the team is ready to take on the giants.“You’re always going to be the underdog when you’re ranked lower,” Burl told TimesofIndia.com in an exclusive interview.

Poll

Do you believe Zimbabwe can continue their winning streak in the Super 8s?

“Beating a team ranked above you is always special. As underdogs, it motivates us even more because people don’t really expect us to win. So when we do, it means a lot — to us as players and to our nation.”Zimbabwe dominated the sub-regional qualifiers, facing teams like Kenya, Rwanda, and Tanzania with authority. They went on to win Qualifiers B, the Regional Sub-Regional B, and finally the main qualifiers, securing their spot in the 2026 T20 World Cup — a dream this squad was determined not to let go to waste.Even after their impressive group-stage performances, Burl and the rest of the Zimbabwe team are not celebrating. Their focus has already shifted to the next challenge: executing a fresh, well-laid plan for the Super 8s.“Our success has been the result of a carefully crafted plan executed over time. Every player has put in immense hard work. About 18 to 24 months ago, we set ourselves the dream and goal of reaching the Super 8s,” he said.“We’ve had highs and lows, but throughout, we’ve followed clear game plans and blueprints. Combining that planning with hard work has brought us to where we are today.”Zimbabwe last played in India during the first round of the T20 World Cup in 2016.In the 2026 edition, they will kick off their Super 8 campaign against West Indies on Monday in Mumbai, followed by a clash against India in Chennai, and then face South Africa in Delhi.“We have to face India, West Indies, and South Africa in the Super 8s — three teams currently playing outstanding cricket. India are defending champions, so it’s a challenge in itself, but one we’re excited for. We can’t look too far ahead,” Burl said.“We have to take one game at a time. There’s jubilation in what we’ve achieved so far, but we need to stay grounded, stay calm, and focus on the next hurdle.”

Zimbabwe

Zimbabwe’s captain Sikandar Raza, right, and Brian Bennett run between the wickets. (AP Photo)

‘SIKANDAR RAZA IS A SUPERSTAR’After Zimbabwe secured their place in the Super 8s, captain Sikandar Raza made a low-key entrance to address the media. He greeted everyone with a simple “Hello, everyone,” followed by a warm smile.“The fact that we’ve qualified for the Super 8s hasn’t changed the ultimate goal that we set out for. Like I said, it’s just a tick in the box, but we have a lot of other goals to achieve and everybody loves an underdog story, don’t they?” Raza had said, reflecting on the achievement.Burl gave credit to Sikandar Raza for instilling fire and belief in every player, motivating the squad, and pushing them toward their big dream.“To be honest, he’s a legend in his own right and has deserved all the plaudits. He is a superstar. He’s worked extremely hard throughout his career,” Burl said.“As a teammate and brother on the field, it’s been very special to play alongside him. The team really buys into what he says. Combined with the guidance and leadership of coach Justin Simmons, it’s been an essential part of our success.”Zimbabwe entered the Super 8 stage of the T20 World Cup after their crucial Group B clash against Ireland was washed out due to rain. The result saw former champions Australia and Ireland eliminated from the tournament.



Source link

What is the IDFC First Bank Rs 590 crore fraud case? Explained in 10 points


What is the IDFC First Bank Rs 590 crore fraud case? Explained in 10 points

The scale of the suspected fraud is larger than the bank’s third-quarter net profit of Rs 503 crore. (AI image)

IDFC First Bank fraud: A Rs 590 crore fraud, at IDFC First Bank’s Chandigarh branch, has led to a massive erosion in investor wealth of over Rs 14,000 crore. The fraud has come to light after entities linked to the Haryana state government reported mismatches between actual bank balances and the amounts reflected in account records. The result: On Monday, the shares of IDFC First Bank crashed by 20%, hitting lower circuit after it emerged that the alleged misappropriation is more than the bank’s entire quarterly earnings!

What is the IDFC First Bank fraud case?

  1. IDFC First Bank has said that staff at its Chandigarh branch executed unauthorized transactions in accounts associated with the Haryana state government, resulting in a deposit mismatch of about Rs 590 crore.
  2. The scale of the suspected fraud is larger than the bank’s third-quarter net profit of Rs 503 crore.
  3. An initial internal probe revealed that the irregularities were limited to a particular set of Haryana government-related accounts maintained at the bank’s Chandigarh branch.
  4. Four branch officials suspected of involvement have been placed under suspension. The bank has lodged a police complaint, notified its statutory auditors, and engaged KPMG to carry out an independent forensic investigation.
  5. IDFC First Bank Managing Director and CEO V. Vaidyanathan sought to limit the fallout, asserting that the lapse was restricted in scope and stemmed from internal collusion rather than any broader structural weakness.
  6. “The bank has necessary controls in place, including maker, checker and authoriser for clearing cheques or debit instructions from the department,” Vaidyanathan told ET. “We have been in operation for over 10 years and have rolled out over 1,000 branches and have had no such incident before.” He further said: “Prima facie third-party entities are involved in this compromise… The issue is specific to one branch and one client group and is thus an isolated instance. There is no system-level issue.”
  7. A meeting of the Board’s Special Committee for Monitoring Fraud Cases was convened on February 20, followed by sessions of the full Audit Committee and the Board on February 21.
  8. In a regulatory filing submitted in the early hours, the bank said it had informed the banking regulator about the matter and lodged a police complaint.
  9. In addition, the bank has issued recall notices to beneficiary banks, requesting them to lien-mark funds held in accounts considered suspicious. This step may help reduce the eventual financial impact.
  10. Beyond the immediate financial implications, the episode has led to reputational fallout. The Haryana government has removed IDFC First Bank from its empanelled list, along with AU Small Finance Bank, and instructed state departments to close their accounts with both institutions.

What is the outlook for IDFC Bank stock?

UBS estimates the amount involved is nearly 22% of IDFC First Bank’s projected FY26 profit after tax, while noting that the effect on capital would likely be contained at around 1%of net worth. Morgan Stanley, meanwhile, assessed the potential impact on FY26 profit before tax at roughly 20 percent.Investec retained its Buy recommendation on the stock but lowered its target price to Rs 92 from Rs 105. It noted that the ultimate financial effect would hinge on the outcome of investigations, the extent of recoveries and the verification of claims.Nomura analyst Ankit Bihani said the eventual impact on the bank’s financial performance would depend on how much can be recovered through liens placed on beneficiary accounts held with other banks, the liabilities of the parties involved and the progress of legal recovery proceedings.He also flagged issues related to governance standards and branch-level oversight. Given IDFC First Bank’s retail deposit-driven business model, he said maintaining reputation is crucial. The stock may continue to face pressure until the audit is completed.Jefferies said the lender must tighten its operational safeguards and provide assurance that the irregularities are confined to the identified accounts and have not affected other customers.(Disclaimer: Recommendations and views on the stock market, other asset classes or personal finance management tips given by experts are their own. These opinions do not represent the views of The Times of India)



Source link

Indian Coast Guard detains Iranian-crewed vessel; smuggled cigarettes worth crores seized | India News


NEW DELHI: The Indian Coast Guard (ICG) intercepted a suspicious foreign vessel inside India’s Exclusive Economic Zone (EEZ) on Sunday. The boat, carrying an Iranian crew, was found with a large consignment of smuggled foreign-brand cigarettes.In a post on X, the Indian Coast Guard said, ”On 21 Feb 26, India Coast Guard ship intercepted a suspicious foreign boat inside the Indian EEZ, approximately 115 NM west of Dwarka.”After boarding the vessel, officials identified it as Al Mukhtar. The boat was manned by four Iranian crew members. During a detailed search of the storage areas, officers found 200 cartons containing around one lakh packets of foreign-brand cigarettes. The cartons were hidden deep inside the vessel.The boat and its crew have been taken into custody. The Coast Guard said the vessel is being escorted to Porbandar for further investigation and joint questioning with other concerned agencies.This seizure comes just days after another maritime operation. On February 17, the Indian Coast Guard carried out an intelligence-based operation at sea along with the Gujarat Anti-Terrorist Squad.



Source link