logo
India Bank Frauds Triple to $4.2 Billion as Credit Scams Swell

India Bank Frauds Triple to $4.2 Billion as Credit Scams Swell

Bloomberg3 days ago

Sign up for the India Edition newsletter by Menaka Doshi – an insider's guide to the emerging economic powerhouse, and the billionaires and businesses behind its rise, delivered weekly.
Bank frauds in India jumped threefold last year, with loans contributing to bulk of the cases, while discrepancies in digital payments declined.

Orange background

Try Our AI Features

Explore what Daily8 AI can do for you:

Comments

No comments yet...

Related Articles

Airline Industry Benefiting From Lower Oil Price, IATA Head Says
Airline Industry Benefiting From Lower Oil Price, IATA Head Says

Yahoo

time36 minutes ago

  • Yahoo

Airline Industry Benefiting From Lower Oil Price, IATA Head Says

(Bloomberg) -- The global aviation industry is benefiting from lower oil prices because they're bringing down the cost of kerosene, the head of the IATA industry association said. Billionaire Steve Cohen Wants NY to Expand Taxpayer-Backed Ferry Now With Colorful Blocks, Tirana's Pyramid Represents a Changing Albania Where the Wild Children's Museums Are The Economic Benefits of Paying Workers to Move NYC Congestion Toll Brings In $216 Million in First Four Months The reduction in oil prices is in turn helping drive down ticket prices, said Willie Walsh, the director general of the International Air Transport Association. 'It's typically our single biggest cost, so it would help to offset any weakening demand if we were to witness a slowdown,' Walsh said in an interview with Bloomberg Television at IATA's annual general meeting in New Delhi. 'It also tends to have an impact on pricing. There's almost a direct correlation between the price of oil and and the price of airline tickets.' Airlines have become increasingly cautious about the demand outlook as global economic dislocations prompted by President Donald Trump's tariffs hurt demand. At the same time, a diminished economic outlook has also depressed oil prices, providing a cost advantage for carriers. Walsh said that while lower ticket prices typically stimulate demand, it also 'clearly drives down the overall revenue for the industry.' Global aviation executives are meeting in New Delhi over the next few days to discuss the state of the industry. Walsh is set to unveil his formal outlook for profitability and revenue for the airline industry on Monday. YouTube Is Swallowing TV Whole, and It's Coming for the Sitcom Millions of Americans Are Obsessed With This Japanese Barbecue Sauce AI Is Helping Executives Tackle the Dreaded Post-Vacation Inbox How Coach Handbags Became a Gen Z Status Symbol Mark Zuckerberg Loves MAGA Now. Will MAGA Ever Love Him Back? ©2025 Bloomberg L.P.

Sancrox Political Advisory: Voters rally around Oyun-Erdene ahead of vote of no confidence
Sancrox Political Advisory: Voters rally around Oyun-Erdene ahead of vote of no confidence

Associated Press

timean hour ago

  • Associated Press

Sancrox Political Advisory: Voters rally around Oyun-Erdene ahead of vote of no confidence

LONDON, June 1, 2025 /PRNewswire/ -- On the eve of Mongolia's first-ever parliamentary vote of confidence in a sitting prime minister, new polling shows that voters overwhelmingly back Prime Minister L. Oyun-Erdene and reject any shift toward a presidential system. The nationally representative poll, conducted by Sancrox Political Advisory from 28 to 30 May 2025, shows that 63% of Mongolian adults want the Prime Minister to 'stay on and implement the National Wealth Fund,' compared to 31% who do not and 6% who are undecided. It also finds that 53% of voters believe MPs should support the Prime Minister and his government in the confidence vote, versus 37% who think MPs should vote 'no confidence' and 10% who cannot say. Additional findings include: These figures demonstrate that, as the vote of confidence approaches, public opinion remains in favor of continuity under Prime Minister Oyun-Erdene's coalition. Voters not only support his economic agenda - most notably the National Wealth Fund - but also oppose expansion of presidential powers. Sancrox Political Advisory is a leading international polling and strategy firm, providing political insight and public opinion research across the globe. Findings Representative poll of n = 1,140 Mongolian adults. Fieldwork conducted 28–30 May 2025. Photo - Photo - Photo - Photo - Photo - Photo - View original content to download multimedia: SOURCE Sancrox Political Advisory

Air India in talks for major new narrow-body jet order, sources say
Air India in talks for major new narrow-body jet order, sources say

Yahoo

timean hour ago

  • Yahoo

Air India in talks for major new narrow-body jet order, sources say

NEW DELHI (Reuters) -Tata Group's Air India is in talks with Airbus and Boeing for a major new order potentially including some 200 extra single-aisle planes, topping up a mammoth 2023 deal as the flag carrier seeks to pre-empt a growing jet shortage, industry sources said. The order discussions, which one of the sources said could involve hundreds of airplanes in total spread across various sizes, expands on previously reported discussions for a further batch of large wide-body aircraft, the sources said. Air India, Airbus and Boeing did not immediately respond to requests for comment. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data

DOWNLOAD THE APP

Get Started Now: Download the App

Ready to dive into the world of global news and events? Download our app today from your preferred app store and start exploring.
app-storeplay-store