Rs. 4 crore loan taken from IOB Bank on fake documents, CBI sentences accused to 3 years Jail

The CBI Court, Mohali, Punjab, has convicted and sentenced Samir Dua Partner in a Firm, namely, G.D. Ispat Udyog, Mandi Gobindgargh, Punjab, to Rigorous Imprisonment for Three Years with a Fine of Rs. 15,000 in a Multi-Crore Bank Fraud Case.

The Central Bureau of Investigation (CBI) registered the case against Dalip Dua, Samir Dua, Partners in M/s G.D. Ispat Udyog and others for entering into a criminal conspiracy to cheat the Indian Overseas Bank at Mandi Gobindgarh, Pujab.

The investigation revealed that the accused had illicitly obtained a Cash Credit Limit of Rs. 4 Crore from Indian Overseas Bank based on false and fabricated information resulting in wrongful loss to the bank.

After completion of investigation, CBI filed charge sheet against the aforesaid accused. The Hon’ble Court, after the trial, convicted and sentenced the accused accordingly. Proceedings against the co-accused Dalip Dua were abated following his demise.

SEBI order says Rajesh Exports inflated revenue by more than Rs.15 Trillion

Rajesh Exports, among India’s largest gold processing companies, is facing allegations of inflating its consolidated revenues by more than ₹15 trillion over five years by attributing massive revenues to overseas subsidiaries.

SEBI’s interim order dated June 3, alleged revenue inflation of Rs 15.15 lakh crore during FY21-FY25.

But Rajesh Exports said that the allegations are not true. The company said that we had given them 300-400 GB documents, running into lakhs of pages. We think they have not been able to find the correct documents. The whole confusion has happened there.

In another development, PTI reported that the Ministry of Heavy Industries (MHI) would decide on removing Rajesh Exports from the list of beneficiaries under the production-linked incentive (PLI) scheme for advanced chemistry cell (ACC) battery storage in the coming days.

In FY25, REL reported consolidated revenue of Rs 4.23 lakh crore, while profit after tax stood at just Rs 95 crore, implying a net margin of barely 0.02%. In FY24, the company reported revenue of Rs 2.8 lakh crore and profit of Rs 336 crore.

According to experts who reviewed Sebi’s report and the company’s annual reports, the numbers appeared difficult to reconcile. They argued that the business seemed to be operating at margins that were not thin but structurally negligible.

How the investigation started?

The matter originated from a shareholder complaint received in March 2024 that raised concerns over substantial trade receivables reflected in the company’s accounts. Following a preliminary review, Sebi launched a detailed investigation covering the period from April 2020 to March 2024 and appointed BDO India Services as the forensic auditor.

According to Sebi, between 97% and 99% of REL’s consolidated revenue was attributed to overseas subsidiaries, primarily Valcambi. However, Valcambi’s own accounts, audited by KPMG SA, showed only processing-fee income amounting to approximately Rs 3,027 crore over five years.

RBI imposes monetary penalty on Canara Bank

The Reserve Bank of India (RBI) has imposed a monetary penalty of ₹41.80 lakh (Rupees Forty one lakh eighty thousand only) on Canara Bank as:

1. the bank did not upload KYC records of certain customers onto Central KYC Records Registry (CKYCR) within the prescribed timeline.
2. the bank classified certain accounts as inoperative, despite the last customer induced transaction being less than one year old in such accounts.

In another update, the Reserve Bank of India (RBI) has imposed a monetary penalty of ₹3.10 lakh (Rupees Three Lakh Ten Thousand only) on Puran Associates Private Limited as the company failed to reclassify certain accounts as ‘non-performing assets’ upon restructuring

DEPLOYMENT OF BANK OFFICER AND EMPLOYEE FOR NON-BANKING DUTIES

Gratuity at higher rate for service exceeding 30 years. For banker

For bankers who have retired after service exceeding 30 years, refer the judgement dt.01.09.25 in favour of a retired Central Bank of India Bank SM for payment of Gratuity at higher rate for service exceeding 30 years.

Expected DA From Aug'26 for Bankers is minimum 26 slab maximum 31 slab

Expected DA Calculation Updated on 29.05.26 on the basis of CPI for the month of Apr'26 with the assumptions of CPI for the months of May'26 & Jun'26. The CPI for the month of Apr'26 announced on 29.05.26 as 149.9 with an increase of 0.80 points from Mar'26. (as per revised base year 2016) (The base year was changed from Oct 2020)

1. Keeping in view of recent CPI announced , we may assume there would be an increase in CPI index by 1.20 points in the next both months. Accordingly, on this assumption, we may expect there would be an increase of 2.37% DA in terms of 12^th BPS on revised pay. Total 28.07% DA will become payable from Aug'26.
2. On assumptions if there is an increase in CPI index by 0.90 points in the next both months, we may expect there would be be an increase of 2.07% DA in terms of 12^th BPS on revised pay. Total 27.77 percentage of DA will become payable from Aug'26.
3. On assumptions if there is an increase in CPI index by 0.70 points in the next both months, we may expect there would be be an increase of 1.97% DA in terms of 12^th BPS on revised pay. Total 27.67 percentage of DA will become payable from Aug'26.

Target Current accounts

Target Current accounts 

Yes private banks are targeting the Current accounts heavily and Public sector banks are struggling to retain the Current accounts. 

Wonder 1 

Three years back only in Five states the Current account deposits of Private Banks were more than the Govt Banks. Now as at 30-9-2025 it happened in 10 stares . It increased to 13 states as at 31-3-2026.  

Let us see the details state wise :

Rs. In crore 

State.              Govt Banks.  Private Banks 

Haryana.             16,405.      58,580

Karnataka.         63,849.   1,10,183

Delhi.                  86 ,354.   1,00,061

Uttara Pradesh  65, 387.      66,935

Maharashtra  2,32,498.     3,55,875 ( this dominance is horrible). 

Gujarat.              49,247.        85,834

Tamilnadu.       61,050.        81,234

Telangana.       47,758.        50,681

West Bengal.  40,995.         51,335

Jammu Kashmir  1,619.    16,366 ( Thanks to Jammu and Kashmir Bank )

Kerala.              20,590.         32,487

Rajasthan.       24,907.         25,824

Punjab.            12,885.         17,061 

Wonder 2 

In Savings Bank account ( SB) deposits also Private Banks garnered more business in Karnataka state.  

SB deposits.   1,42,637.   2,37,893 

More than 60 % of  Bangalore employees are dealing with Private Banks as per assessment.  

Competition 

Delhi.               2,12,609.     1,92,504

Maharashtra  5,33,760.     4,31,298

Telangana.     1,57,364.      1,23,351

  Wonder 3 

Huge competition in Metro centres 

Branches.      17,816.          14,364

Deposits.    66,51, 057.    58,82,876

Advances.  54,65,572.     48,94,526 

As per the data available more people are preferring Term deposits with Govt Banks and hence  total deposits are more than Private Banks ' total deposits.  

Wonder 4

In Advances also Govt Banks lead in above 100 crore limits to Corporate borrowers as compared to private Banks.  Private Banks are leading in Advances from Rs.1 crore 25 crore range over the Govt Banks.  

Rs.in crore.       GOVT.         PRIVATE 

Limit

1to upto 4.       6,46,112.   .    10,48,935

4 to upto 6.     1,75,905.           3,18,464

6 to upto 10.   2,03,251.           3,53,056

10 to upto 25. 3,22,223.           5,52,575

25 to 100.        5,28,340.           7,69,250

Above 100.    41,11,137.        13,57,114

Advances.   113,34,415.      84,44,603 

Government Banks deposits growth in FY 2025-26 was 9.80% and that of the Private Banks was 13% . Credit growth of Government Banks was 16.1% and in Private Banks it was 12.3% in FY 2025-26.  

WONDER 5 

TOTAL ADVANCES IN STATE on 31-3-2026 

Rs.in Crore 

State.              Govt Banks.  Private Banks 

Maharashtra  27,40,506.     28,39,515

Gujarat.             5,45,321.        5,70,325

Haryana.          2,57,549.        3,69,371

Jammu Kashmir 27,988.         87,392 

Tough competition 

Karnataka.     7,22,598.        5,68,905

Punjab.           2,22,276.        1,87,975

Tamilnadu.   11,15,573.       7,50,298