Business

RBI Governor: Anti-Money Laundering Measures Must Not Hinder Investment Growth

Published

1 year ago

March 27, 2025

Reserve Bank of India (RBI) Governor Sanjay Malhotra emphasized the importance of not being overly stringent in measures against money laundering, as this could hinder legitimate business activities and investments.

Speaking at the Private Sector Collaborator Forum 2025 in Mumbai, he stated, “While we strive to secure our financial systems from money laundering and terrorist financing, it is crucial for policymakers to ensure that our interventions are balanced and do not obstruct legitimate economic activities and investments.”

The Governor advocated for a balanced, risk-based approach to Anti-Money Laundering (AML) and Counter-Financing of Terrorism (CFT) regulations to prevent unintended negative effects on financial inclusion and economic growth.

Malhotra pointed out that overly broad and rigid regulatory measures often impose undue compliance burdens on financial institutions and businesses, which can inadvertently impact honest entities. He called for more focused, data-driven regulations that minimize disruption while effectively addressing illicit financial activities.

He asserted that understanding the impact on individuals and businesses is vital, urging better coordination among stakeholders to avoid repetitive Know Your Customer (KYC) processes.

Discussing the role of technology, Malhotra noted that while it has facilitated business operations, it has also introduced advanced methods of money laundering and illicit financing. “We are committed to further strengthening our financial system to deter and combat illegal financial activities,” he stated.

He highlighted the significance of collaboration between the public and private sectors in maintaining the integrity of the financial system. Malhotra commended the efforts of regulators, financial institutions, and businesses in fortifying India’s AML/CFT framework, which recently achieved a top ranking in the Financial Action Task Force (FATF) mutual evaluation.

“Adopting a risk-based approach is essential to ensure that financial regulations achieve their goals while avoiding excessive burdens,” he said, encouraging financial institutions to enhance their risk assessment models through the use of AI, blockchain, and machine learning.

Furthermore, he emphasized the need to leverage technology to improve compliance processes. “We must continually refine our risk assessment models, data quality, and technological capabilities to reduce false positives and negatives in compliance screenings,” he asserted.

Business

Fuel Prices Hiked by Rs.3 per Litre across India

Published

2 days ago

May 15, 2026

Namma Kudla

New Delhi: Petrol and diesel prices have been increased by Rs.3 per litre across the country from today. Oil marketing companies revised the rates due to the rise in global crude oil prices.

After the hike, petrol price in Bengaluru has reached Rs.106.17 per litre, while diesel now costs Rs.94.10 per litre.

The increase comes amid fluctuations in international crude oil prices and tensions in West Asia, including the Iran conflict. The fall in the value of the Indian rupee against the US dollar has also increased import costs.

The fuel price hike is expected to affect transportation and daily essentials. Transport charges for goods may rise, leading to higher prices of vegetables, fruits, milk, and other items. Bus, auto, and taxi fares may also increase.

Earlier, fuel prices were reduced before the 2024 Lok Sabha elections. In 2022, the Centre had also cut excise duty to control inflation after the Covid pandemic.

Business

Gold Prices Rise in Mangaluru; Demand for Ornaments Remains Strong

Published

2 weeks ago

May 4, 2026

Namma Kudla

Mangaluru: Gold prices in the coastal city of Mangaluru have been reported at high levels today. The rate for 24 karat gold (99.9% purity) stands at Rs.14,962 per gram. The price for 22 karat gold (91.6% purity) is Rs.13,715 per gram. Meanwhile, 18 karat gold (75% purity) is being sold at Rs.11,222 per gram.

Mangaluru is well known for its deep cultural connection with gold. The city has a long tradition of buying and wearing gold ornaments. This tradition continues strongly even today.

Local jewellers say that demand for gold remains steady despite high prices. Many people still prefer to invest in gold for safety and long-term value. Gold is also an important part of weddings and festivals in the region.

Apart from its love for seafood, Mangaluru is also famous for its gold market. The gold trade in the city has a long history and continues to grow.

Buyers are advised to check the latest rates before making a purchase. They can also use a gold rate calculator to get exact pricing based on weight and purity.

Experts say that gold prices may change depending on global market trends. Customers should stay updated and make careful decisions while buying gold.

Business

Pune FDA Seizes 3,800 Kg of Adulterated Mango Pulp in Major Crackdown

Published

1 month ago

April 15, 2026

Namma Kudla

In a major action against food adulteration, the Food and Drug Administration (FDA) in Pune has seized over 3,800 kilograms of mango pulp mixed with unsafe food colours.

The raid was carried out after officials received confidential information about illegal production activities in the district. Acting quickly, an FDA team traced the source to a manufacturing unit in Urse village in Maval taluka.

During the inspection, officers found that the mango pulp was being prepared using unauthorised food colours and other banned substances. These materials are not allowed under food safety rules and can be harmful to consumers.

The unit was reportedly operated by Mohammad Ekramul, also known as Akram Gulam. Authorities said the facility was violating multiple food safety regulations.

Officials immediately seized the adulterated stock and stopped further production at the site. The FDA has also begun investigating the supply chain to identify where the products were being distributed.

Authorities warned that strict action will be taken against those involved in food adulteration. They also urged the public to stay cautious while buying food products, especially during the mango season.

Further investigation into the case is currently underway.