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RBI Reassures IndusInd Depositors of Bank’s Strong Capitalization

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The Reserve Bank of India (RBI) has reassured depositors of IndusInd Bank that there is no cause for concern amidst media speculation. The RBI has instructed the board of IndusInd Bank to carry out necessary remedial measures by March 31, 2025, ensuring all stakeholders are adequately informed.

In an official statement, the RBI emphasized, “Depositors should not react to speculative reports at this time. The bank’s financial health remains stable and is under close observation by the Reserve Bank.”

“Recent speculation regarding IndusInd Bank seems to stem from recent events associated with the institution. The RBI has directed the bank’s board and management to complete the required remedial actions within the current quarter (Q4FY25), following appropriate disclosures,” it added.

The RBI further affirmed, “The bank is well-capitalized, and its financial position remains satisfactory. According to the auditor-reviewed financial results for the quarter ending December 31, 2024, the bank has maintained a robust Capital Adequacy Ratio of 16.46% and a Provision Coverage Ratio of 70.20%. As of March 9, 2025, the Liquidity Coverage Ratio stood at 113%, exceeding the regulatory requirement of 100%.”

On March 10, the bank reported an accounting discrepancy with an estimated impact of 2.35% on its net worth of ₹64,000 crore as of December 31, 2024. Experts have estimated accounting lapses of around ₹2,100 crore, particularly related to forex trading derivatives and deposits. Following this announcement, the bank’s share price experienced a significant decline of over 40%.

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Fuel Prices Hiked by Rs.3 per Litre across India

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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.

READ MORE :Two Final-Year Engineering Students Drown in Bhadra Canal

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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.

 

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Gold Prices Rise in Mangaluru; Demand for Ornaments Remains Strong

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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.

READ MORE :Mango Sheera Emerges as a Popular Summer Dessert

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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.

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

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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.

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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.

 

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