No personal oral hearing needed before labelling bank accounts as fraud: SC | India News

The Supreme Court, on Tuesday, issued a decision regarding the classification of bank accounts as fraud. The apex court ordered that banks are not obligated to grant customers a personal oral hearing before declaring their accounts as fraud. However, prior to labelling them, banks must provide customers with a forensic audit report.The ruling follows submissions…

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Govt e-Marketplace reports 7.4% fall in transactions

Government e-Marketplace GeM is a dedicated e-Market service platform, a National public procurement portal, governed by Government of India for marketing different goods and services. State-run public procurement platform Govt e-Marketplace (GeM) recorded a 7.4% decline in transactions in FY26, with gross merchandise value (GMV) at Rs 5 lakh crore, compared with Rs 5.4 lakh…

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GCC demand surges: Foreign firms lease record 9.1 mn sq ft office space in Jan-Mar; India cements global hub status

Foreign firms leased a record 9.1 million square feet of office space across India’s top nine cities during the January-March quarter to set up Global Capability Centres (GCCs), highlighting strong demand for workspaces, PTI reported citing CBRE data.Real estate consultant CBRE said total gross leasing of office space rose 5% to 20.7 million square feet…

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Amazon pares Fresh as it pushes quick delivery

Bengaluru: Amazon is preparing to scale down its 4-24 hour grocery delivery service, Amazon Fresh, in several major Indian cities as it sharpens focus on its quick commerce offering, AmazonNow, according to a UBS Global Research report.The transition is expected to play out across 10-15 large urban markets where AmazonNow is being expanded, effectively replacing…

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Rupee gains 28 paise to close at 92.90 against US dollar; RBI measures aid recovery despite global pressures

The rupee appreciated by 28 paise to close at 92.90 against the US dollar on Monday, supported by the Reserve Bank’s measures aimed at curbing speculative activity and reducing volatility, PTI reported.Forex traders said that while the RBI’s actions are positive for the currency, continued foreign fund outflows, a firm dollar and elevated crude oil…

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