A case involving the alleged illegal occupation of a mortgaged residential property has come to light in Chhattisgarh’s Durg district. Police have registered an FIR against a man accused of breaking official seals placed by a bank and forcibly reoccupying a property that had been taken into possession under recovery proceedings.

The complaint was filed by officials of Chhattisgarh Gramin Bank, who alleged that the accused twice broke the bank’s sealed locks and removed notices placed on the property. Authorities claim the actions interfered with the legal recovery process and caused financial losses to the bank.

The dispute is linked to a home loan of ₹26 lakh obtained by Mohammad Kasim Khan and Mohammad Naseem Khan. The borrowers had mortgaged a 1,200-square-foot residential property located in Subhash Nagar, Kasaridih, to secure the loan.

According to bank officials, following the death of Mohammad Kasim Khan, loan repayments were allegedly discontinued. As a result, the account was classified as a Non-Performing Asset (NPA), leading the bank to initiate recovery proceedings under the SARFAESI Act.

Property Sealed Twice

Officials stated that on March 21, 2025, the property was formally taken into possession and sealed in the presence of administrative officials and police personnel following an order issued by the District Magistrate.

However, the bank alleges that Kasim Khan’s son, Mohammad Wasim Khan, broke the lock on the same day and reoccupied the premises along with his family members.

Following complaints by the bank, authorities again took possession of the property on March 10, 2026, and sealed it under administrative supervision. Despite the second action, officials allege that the accused once again entered the property and resumed occupation.

E-Auction Process Delayed

The bank had initiated an e-auction process for the property on April 27, 2026, as part of loan recovery efforts. However, the auction was temporarily halted after the accused reportedly obtained interim relief from the Bilaspur High Court for a limited period.

Bank authorities stated that legal proceedings related to the property remain ongoing.

Inspection Reveals Irregularities

According to the complaint, a team led by the Regional Manager and NPA Manager visited the property on April 28, 2026. During the inspection, officials allegedly found that the bank’s sealed locks had been removed and replaced with different locks.

They also claimed that physical possession notices painted on the property walls had been erased through repainting and renovation work.

Local residents reportedly informed officials that the accused had re-entered the premises after removing the seals, though these claims remain part of the ongoing investigation.

Mutation Allegations Examined

The complaint further alleges that changes were made in revenue records relating to the mortgaged property. Bank officials have claimed that names were added or altered without obtaining the bank’s consent, despite the property being under mortgage.

Authorities are examining the relevant land and revenue documents as part of the investigation.

ESAF Small Finance Bank offers 8.50% interest on FDs: How it compares with SBI, HDFC, and others

Senior citizens can now secure high yields on fixed deposits as small finance banks push rates to 8.50%, outperforming major public and private lenders.

With the stock market witnessing a volatile phase in mid-2026, fixed deposits (FDs) have regained their status as the cornerstone of retirement planning for Indian senior citizens. While traditional big-ticket banks maintain steady rates, smaller players are aggressively courting elderly depositors with significantly higher returns to shore up their liquidity.

Small Finance Banks Lead the Rally

The standout performer this season is ESAF Small Finance Bank, which has revised its interest rates to offer up to 8.50% for senior citizens on a specific tenure of 501 days. This move comes at a time when retired individuals are increasingly looking for safe havens that offer a buffer against inflation.

Other players in the small finance segment are not far behind. Shivalik Small Finance Bank is currently providing 8.30% for tenures ranging between 21 and 22 months, while Suryoday Small Finance Bank has pegged its highest rate at 8.25% for a 30-month bucket. Equitas and Jana Small Finance Banks have both touched the 8.00% mark, making the segment highly competitive for those willing to move beyond traditional banking giants.

Government Banks Maintain Conservative Posture

In contrast to the high-yield SFBs, India’s public sector lenders are maintaining a more conservative stance, hovering around the 7% mark. State Bank of India (SBI) and Bank of Baroda are currently offering between 7.00% and 7.05% for long-term deposits spanning 5 to 10 years.

For shorter durations, Punjab National Bank, Union Bank of India, and Canara Bank are slightly more lucrative, offering 7.10% for "special" tenures like 444 or 555 days. While these rates are lower than those of SFBs, the perceived "sovereign safety" continues to attract a large volume of conservative elderly investors who prioritize capital protection over 100-150 basis points of extra profit.

Private Sector Lenders Strike a Balance

Large private banks are currently occupying the middle ground. IndusInd Bank is leading this category, offering senior citizens 7.50% for an 18-month commitment. Kotak Mahindra Bank follows closely at 7.30% for tenures slightly over a year.

Major market players like HDFC Bank and ICICI Bank have kept their rates between 7.00% and 7.10% for mid-term buckets. Market analysts suggest that these banks are focusing on "sticky" retail deposits rather than entering a rate war with smaller entities.

Tax Implications and Smart Strategies

Financial advisors are urging senior citizens to look beyond just the "headline rate." Under current regulations, FD interest is taxable based on the individual's income tax slab. Banks are required to deduct TDS if interest income exceeds specific thresholds.

To manage this, many retirees are utilizing Form 15H—a self-declaration for those over 60 years of age to ensure that TDS is not deducted if their total estimated income falls below the taxable limit. Furthermore, experts recommend a "laddering" strategy—splitting a large corpus into multiple FDs with different maturity dates—to maintain liquidity while capturing the best available rates.

The Risk-Reward Equation

While the 8.50% interest rate from ESAF and other SFBs is attractive, investors are advised to keep the Deposit Insurance and Credit Guarantee Corporation (DICGC) limit in mind. Each depositor is insured up to ₹5 lakh across principal and interest in a single bank. For those with larger corpuses, spreading investments across multiple high-yielding banks remains the most pragmatic ground-level approach in the current financial climate.

Nitin Sandesara repays ₹9,800 crore; Supreme Court closes all proceedings

In a rare NPA resolution, Nitin Sandesara settles dues at 180% of the original reference amount to ensure "complete quietus."

In a landmark development for India’s corporate legal landscape, the Supreme Court has formally closed all proceedings against businessman Nitin J. Sandesara after the total repayment of ₹9,800 crore to creditor banks. The move marks the end of a high-profile pursuit, concluding with a recovery that significantly exceeds the original claims made by financial institutions.

The Bench, comprising Justices J.K. Maheshwari and Vijay Bishnoi, moved to shut the files on cases spearheaded by the Central Bureau of Investigation (CBI), the Enforcement Directorate (ED), and the Serious Fraud Investigation Office (SFIO). The court’s decision follows the successful verification of payments that effectively made every secured lender whole.

Beyond the original debt

The closure of the matter is anchored in a repayment figure that has surprised market observers. While the original reference amount in the case stood at ₹5,383 crore, the final realization for the banking system reached ₹9,800 crore.

This represents nearly 180% of the initial alleged default. Unlike typical Non-Performing Asset (NPA) resolutions where lenders often accept "haircuts" ranging from 50 to 70 percent, this case resulted in banks receiving substantially more than the principal amount contested.

Breakdown of the recovery

According to court filings and compliance reports, the recovery was structured through multiple channels to ensure full transparency. A sum of ₹3,507 crore was paid directly to the consortium of lender banks through various tranches.

An additional ₹1,192 crore was realized through liquidation processes. The single largest component, amounting to ₹5,111 crore, was deposited directly with the Supreme Court registry, as confirmed in a compliance order dated December 17, 2025.

Supreme Court sets precedent

Legal experts tracking the case noted that the Supreme Court described the resolution as a "new and positive standard" for corporate dispute settlements in India. The finality of the order ensures a "complete quietus" to the litigation.

The court's insistence on total accountability was evident during the final stages of the hearing. On April 2, when the Securities and Exchange Board of India (SEBI) sought a ten-day window to finalize its regulatory obligations, the Bench restricted the extension to just seven days.

Closing the final gap

The discipline of the repayment process was highlighted by the precision of the final settlement. By April 10, 2026, the balance remaining was reported as just ₹45,70,522—a marginal figure compared to the thousands of crores already cleared.

This final amount was deposited via a demand draft on April 13, 2026. This meticulous follow-through to the last rupee was a critical factor in the court’s decision to quash all outstanding FIRs and investigative proceedings.

Impact on corporate India

This resolution is expected to have a significant impact on how large-scale corporate defaults are viewed. By choosing to meet the full weight of the financial obligation rather than seeking protracted legal exits, the case offers a template for constructive resolution.

The outcome provides a clean slate for Nitin Sandesara, as the highest judicial authority in the land has now declared the matter settled. For the Indian banking sector, it represents a rare instance where the recovery far outpaced the initial stress on the books.

Future of NPA settlements

As the Indian business world observes this development, the focus shifts to how other stressed assets might be handled. The Sandesara case proves that complex disputes can end with the satisfaction of all stakeholders, including regulators and the judiciary.

With the Supreme Court’s final seal of approval, this chapter in India’s corporate history concludes as a benchmark for accountability. This latest news today serves as a reminder of the potential for the legal system to facilitate total recovery for public interest and national and international news coverage of Indian enterprise.

RBI maintains status quo; repo rate held at 5.25% amid global shifts

Governor Sanjay Malhotra pegs FY27 inflation at 4.6% as MPC adopts neutral stance following West Asia ceasefire

The Reserve Bank of India (RBI) on Wednesday decided to keep the benchmark repo rate unchanged at 5.25%, providing a breather to millions of borrowers as home loan EMIs are set to remain stable for now. This marks the second consecutive pause by the Monetary Policy Committee (MPC) led by Governor Sanjay Malhotra, coming on the heels of a fragile ceasefire in the US-Iran conflict that had briefly rattled global energy markets.

MPC maintains steady hand

The six-member rate-setting panel voted to maintain the status quo while continuing its "neutral" stance. This positioning allows the central bank the flexibility to pivot in either direction depending on how the domestic and international economic landscapes evolve. Delivering his eighth policy statement since taking office, Governor Malhotra emphasized that the Indian economy remains resilient despite recent volatility in the foreign exchange markets.

Inflation outlook remains cautious

The central bank has projected the Consumer Price Index (CPI) inflation for FY27 at 4.6%. While the immediate threat of a full-scale regional war in West Asia has subsided, the RBI remains vigilant regarding the "uncertain outlook" created by fluctuating oil prices. The Governor noted that elevated crude costs still pose a risk to the downward trajectory of inflation, particularly as supply chains through the Strait of Hormuz undergo normalization.

Robust growth targets set

In a boost to market sentiment, the latest news today confirms the RBI has pegged India’s GDP growth at 6.9% for the 2026-27 fiscal year. The quarterly projections suggest a steady climb, starting at 6.8% in Q1 and reaching 7.2% by the final quarter. Governor Malhotra attributed this optimism to strong domestic demand and a banking system that he described as "very safe and strong" under the apex bank’s rigorous supervision.

Banking health and liquidity

Addressing concerns over the financial sector, the Governor dismissed rumors regarding governance at HDFC Bank, asserting there are no red flags. He further highlighted that Indian banks are returning approximately ₹180 crore in unclaimed deposits to citizens every month. On the liquidity front, the Standing Deposit Facility (SDF) remains at 5.00%, while the Marginal Standing Facility (MSF) and the Bank Rate stand at 5.50%.

Global headwinds and exports

The India News Update on the external sector reveals a healthy forex reserve of $696.1 billion as of early April. However, the Governor acknowledged that the recent West Asia conflict might still cast a shadow on India’s exports. He noted that the Russia-Ukraine war, conversely, now has a "negligible impact" on the domestic economy, allowing the MPC to focus more on localized price pressures and weather disturbances.

Relief for retail borrowers

For retail consumers, this status quo is a welcome signal. With the repo rate at a three-year and eight-month low, the Governor hinted that home loan interest rates are likely to remain subdued for an extended period. This follows a cumulative 1.25% cut in the repo rate since February 2025, which has already seen banks reduce fixed deposit rates by over 1%.

HDFC Bank Chairman Resigns Citing Values and Ethics Concerns

Atanu Chakraborty steps down as part-time chairman of India's largest private sector lender, triggering sharp stock sell-off and renewed scrutiny over governance and post-merger challenges.

HDFC Bank, India's largest private sector lender, faced fresh turbulence after its part-time chairman and independent director Atanu Chakraborty resigned on March 18, 2026, citing differences over certain practices observed over the past two years that were not in line with his personal values and ethics. The development sent shock waves through Dalal Street, with the bank's shares plunging as much as 8.7 per cent the next day and erasing over Rs 1 lakh crore in market capitalisation in a single session.

The resignation letter, dated March 17 and addressed to the board, highlighted a fundamental incongruence between observed “happenings and practices” at the bank and Chakraborty's ethical standards. He offered no specific details or examples, a vagueness that only deepened market unease. Keki Mistry, former HDFC Ltd CEO and current board member, was swiftly appointed as interim part-time chairman for three months, with Reserve Bank of India approval.

Leadership Transition Sparks Volatility

Shares of HDFC Bank tumbled sharply on March 19, hitting a 52-week low near Rs 750 levels before partial recovery. The stock's heavy weight in the Nifty 50 dragged the broader market lower by over 3 per cent on that day, marking one of the worst sessions since mid-2024. By late March, the scrip had slipped further amid lingering uncertainty, reflecting investor discomfort over potential governance signals from an independent director's abrupt exit.

The former chairman, a retired IAS officer and ex-finance secretary, later clarified in media interactions that his letter did not point to any financial wrongdoing or governance lapses. He described the differences as more ideological and value-based rather than instances of misconduct. However, the initial ambiguity fuelled speculation and a trust deficit in a sector where confidence remains paramount.

Background on the Resignation

Chakraborty had served as part-time chairman following the landmark merger of HDFC Ltd with HDFC Bank in July 2023. Sources indicated underlying tensions, including possible disagreements over management approaches and extension of the CEO's tenure. Reports pointed to differences with CEO Sashidhar Jagdishan, though both the bank and RBI have maintained there are no material concerns regarding governance or financial health. The regulator described the lender as well-capitalised and stable.

HDFC Bank has engaged external law firms to review the circumstances surrounding the resignation, signalling efforts to address investor concerns transparently.

AT1 Bonds Controversy Resurfaces

The resignation has revived questions around an earlier episode involving the bank's Dubai operations. Reports indicate that HDFC Bank's DIFC branch faced regulatory scrutiny from the Dubai Financial Services Authority over client onboarding and advisory practices. Allegations surfaced that some NRI clients were sold high-risk Credit Suisse Additional Tier-1 (AT1) perpetual bonds as relatively safe, high-yield instruments around 2021, before the Swiss bank's 2023 collapse led to a write-off of such bonds.

Following an internal probe, the bank reportedly took disciplinary action against several executives, including terminations and penalties for lapses in client due diligence and disclosure. Chakraborty reportedly viewed the bank's handling of accountability in such matters as falling short of expected ethical standards, contributing to his decision. The bank has maintained these were technical or compliance gaps rather than systemic fraud and has cooperated with regulators.

Post-Merger Integration Pressures

The 2023 merger integrated HDFC Ltd's large home loan portfolio into the bank, bringing scale but also operational challenges. HDFC Bank's net interest margin (NIM) compressed from pre-merger levels above 4 per cent to around 3.35 per cent in recent quarters. This decline stems from a shift in asset mix towards lower-yielding mortgages, slower growth in low-cost current and savings account (CASA) deposits, and higher reliance on costlier term deposits and borrowings to fund the expanded loan book.

The loan-to-deposit ratio, which spiked post-merger, has moderated towards 98-99 per cent but remains above the bank's comfort zone. Management has outlined a gradual glide path to bring it down further while aiming for system-aligned credit growth in FY26 and outperformance thereafter. Deposit mobilisation through branch expansion and cross-selling remains a focus area.

Market and Stakeholder Impact

The episode has wiped out significant investor wealth and raised broader questions about the evolving role and influence of independent directors in Indian boardrooms. Analysts note that while HDFC Bank maintains strong asset quality and capital adequacy, the leadership transition comes at a time when the sector grapples with deposit competition and margin pressures.

The RBI and the bank have reiterated that there are no underlying solvency or major governance issues. However, the market's sharp reaction underscores how even perceived ethical or cultural misalignment at the top can erode confidence in India's most valued private lender.

Outlook and Next Steps

HDFC Bank is scheduled to consider debt fundraising and announce Q4 results in mid-April. The board, now under interim chairman Keki Mistry, is expected to focus on stabilising sentiment, clarifying any review findings, and accelerating deposit franchise strengthening.

For India's banking sector, the episode serves as a reminder of the delicate balance between aggressive growth post-merger and maintaining robust governance standards. Investors will watch closely for signs of renewed stability in the coming quarters as the bank navigates this phase of transition.

Nationwide Bank Strike Tomorrow: What Customers Need to Know

Bank customers across India are bracing for inconvenience as a nationwide bank strike is set for tomorrow, February 12, 2026. Major unions including the All India Bank Employees Association (AIBEA), All India Bank Officers Association (AIBOA), and Bank Employees Federation of India (BEFI) have called the strike as part of a larger Bharat Bandh.

The State Bank of India (SBI) has already alerted customers that banking operations may be impacted. IDBI Bank and Bank of Baroda have also issued similar notices. While the Reserve Bank of India (RBI) has not declared a holiday, branch-level services are expected to face major disruptions.

Why Bank Employees Are Striking on February 12

The core issue is strong opposition to the central government’s four new labour codes, which replace 29 older labour laws. Unions argue these changes weaken worker protections, make it harder to form trade unions, and favour employers.

Bank staff are also renewing their long-standing demand for a five-day work week. They say rising workloads, staff shortages, and current rules (banks closed only on the second and fourth Saturdays) are hurting work-life balance. This follows a similar one-day strike on January 27 for the same demands.

Union leaders say the protest highlights growing stress on public sector bank employees and calls for fairer working conditions.

How the Nationwide Bank Strike Will Affect You

The bank strike February 12 is likely to hit everyday banking in these ways:

- Branch services disrupted — Cash deposits, withdrawals over the counter, new cheque books, KYC updates, and other counter transactions may not be possible or will be delayed.

- Cheque clearance delays — Clearing operations handled mainly by public sector banks could take 2–3 extra days, affecting bill payments and business transactions.

- ATM cash shortages possible — With banks closed for three straight days (including the weekend), ATMs in smaller towns and residential areas may run out of cash.

- Loan and document work delayed — Approvals, No Objection Certificates (NOCs), and government-related banking tasks may get postponed to Thursday or later.

Private banks such as HDFC, ICICI, and Axis are expected to function normally with less impact.

Services That Will Remain Unaffected

Thankfully, most digital options will continue smoothly:

- UPI payments via Google Pay, PhonePe, Paytm, and BHIM will work as usual for shopping and transfers.

- Internet and mobile banking for balance checks, bill payments, IMPS, NEFT, and RTGS will remain available.

- ATMs will stay open for withdrawals as long as cash lasts.

Customers who rely on digital banking should face minimal problems.

What Should You Do Before the Strike?

Plan ahead to avoid last-minute stress:

- Complete urgent cash deposits or withdrawals today (February 11).

- Use digital channels for bill payments and transfers.

- Keep extra cash for the next two days if you’re in areas with limited ATM access.

- Postpone non-urgent branch visits until Thursday.

Banks are urging customers to use alternate channels to reduce pressure on branches.

Bottom Line

This nationwide bank strike serves as a reminder of ongoing tensions between workers’ rights and operational needs in India’s banking sector. While digital tools have made banking more resilient, many people still depend on physical branches for important tasks.

Stay updated through your bank’s app or website, and shift to online options wherever possible. The situation should return to normal by February 13, but planning today will help you avoid unnecessary hassle tomorrow.

Nationwide Bank Strike Grinds Cash Transactions & Cheque Clearance to a Halt for 4th Day

For the fourth consecutive day, routine banking services across India have been severely disrupted due to a nationwide bank strike. Called by the United Forum of Bank Unions (UFBU), the strike has halted cash deposits, withdrawals, and cheque clearance in public sector banks, compounding the inconvenience caused by the weekend and Republic Day holidays.

The strike, which saw employees protesting in major financial hubs like Mumbai and New Delhi, centers on a long-pending demand: the formal implementation of a five-day workweek.

Why Banks Are on Strike: The Five-Day Week Demand

The core of the dispute dates back to an agreement in March 2024 between bank unions and the Indian Banks' Association (IBA). Unions agreed to work an extra 40 minutes daily in exchange for all Saturdays being declared holidays. While currently banks are shut on the second and fourth Saturdays, the formal government notification to make this a permanent five-day workweek has stalled.

"An agreement was reached, but the notification hasn't materialized. This strike is about honoring that commitment and ensuring a better work-life balance for employees," a UFBU representative stated.

Direct Impact on Your Daily Banking

The timing of the nationwide bank strike means many customers have faced limited access to essential services since Saturday. Here’s what is affected:

Cash Transactions & Branch Services: Over-the-counter cash deposits and withdrawals, new cheque book requests, KYC updates, and loan processing are halted.

Cheque Clearance Delayed: The clearance of cheques, which relies heavily on public sector bank operations, is disrupted. Expect delays of 2-3 days for cheques to be processed.

Potential ATM Cash-Outs: Following three previous non-working days, ATMs, particularly in smaller towns, may run dry. Replenishment is affected by the strike.

Loan Approvals & NOCs: Any urgent banking paperwork requiring branch approval will be postponed until operations resume.

What Services Are Still Working? Your Digital Lifeline

Amid the branch shutdowns, digital banking remains a reliable alternative. Experts urge customers to switch to online channels to minimize disruption.

"While physical branches are closed, the digital infrastructure of banks is fully operational. This is the moment to utilize UPI and mobile banking," advised Priya Sharma, a Mumbai-based financial analyst.

Here’s what you can still do:

UPI & Digital Wallets: Apps like Google Pay, PhonePe, Paytm, and BHIM UPI are functioning normally for payments and transfers.

Internet & Mobile Banking: All online transactions—including NEFT, RTGS, and IMPS fund transfers, bill payments, and balance enquiries—are unaffected.

Private Banks: Major private banks such as HDFC, ICICI, and Axis Bank are operating as usual, as they are not part of the UFBU.

ATMs (If Stocked): ATMs themselves are not shut down. Withdrawals can be made if the machine has been stocked prior to the strike period.

Looking Ahead

With no immediate resolution announced, the nationwide bank strike underscores the growing tension between traditional banking structures and employee demands for modernization. For the common citizen, it serves as a potent reminder of the resilience and necessity of digital payment ecosystems in keeping the economy moving, even when physical doors are closed.

Customers are advised to plan their cash needs, postpone cheque-based payments where possible, and leverage digital tools until the strike is called off and normal branch operations resume.