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RBI Extends Curbs On Maharashtra Co-Op Bank; Restrictions Now Valid Till Feb 2026
Business

RBI Extends Curbs On Maharashtra Co-Op Bank; Restrictions Now Valid Till Feb 2026

The Reserve Bank of India has extended restrictions on The Yashwant Sahakari Bank Limited, Phaltan, in Satara district by an additional three months. Initially imposed for six months on May 28, the curbs will now remain in force from November 29 to February 28, 2026. The RBI said the extension has been issued “in public interest”. Regulatory Action Under Banking Regulation Act The central bank had invoked its powers under Section 35A(1) and Section 56 of the Banking Regulation Act to impose the restrictions from 28 May. With the latest order, these directives will continue for an additional three months. What The Restrictions Involve Under the curbs announced on May 28, 2025, the bank has been barred from renewing loans, making fresh investments, accepting deposits, or issuing new credit facilities without prior written approval from the RBI. It has also been prohibited from selling its assets. The measures were enforced due to the bank’s weak financial position. Political Pressure Over Bank Fraud Case BJP MP Medha Kulkarni had taken an aggressive stance over alleged irregularities linked to Karad’s Yashwant Cooperative Bank. She demanded the seizure of properties belonging to former State Cooperative Council president and BJP leader Shekhar Charegaonkar, triggering significant political unrest. Kulkarni had visited Karad to assess the condition of depositors and borrowers affected by the crisis. Rs 112-Crore Fraud Case: FIR Against 50 Individuals A fraud amounting to Rs 112,10,57,481 was uncovered at the bank, leading to a case being registered against 50 individuals, including the then bank chairman and former State Cooperative Council president Shekhar Charegaonkar, at the Karad City Police Station. The complaint, filed by Pune-based government chartered accountant Mandar Deshpande, covers alleged embezzlement during the audit period from 1 April 2024 to 31 March 2025, as well as prior years stretching from 1 April 2018 to 31 March 2024.

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11 months ago
Mahindra XEV 9S Vs Toyota Innova Hycross: Which Is The Three-Row Car To Buy?
Technology

Mahindra XEV 9S Vs Toyota Innova Hycross: Which Is The Three-Row Car To Buy?

The Innova Hycross has been the best seller in the premium 7-seater space with image, new hybrid powertrain and the new comfort features. Now, Mahindra wants to get a large share of this segment with the XEV 9S. Let's see how these two three-row cars compare  Which car is bigger? The Innova Hycross has a length of 4755mm, while the XEV9S has a length of 4737mm. The Hycross has a wheelbase of 2850mm vs the XEV9's at 2762mm. The XEV 9S has more ground clearance, though at 205mm. Which car is more efficient? The Innova Hycross hybrid has an efficiency of 23-24 kmpl. The XEV 9S, meanwhile, has a range of real-world 500km. Mahindra says it has a running cost of Rs 1.5 per km, which is lower than petrol cars. Which car has more features? The Hycross is much better equipped now than the previous Innova with features like captain seats, ADAS, panoramic sunroof, ventilated seats, 360 degree camera, ottoman function and more.  The XEV 9S also has ADAS, panoramic sunroof, 360 degree camera, while it adds dual powered seats, rear seat ventilation, 5g built in with apps, digital key, HUD and more. It does not get the captain's seat, though.  Which car is more powerful? The XEV 9S comes with three battery packs, and the top-end comes with 286bhp via a single motor. The Innova Hycross, meanwhile, has 184bhp with its hybrid powertrain. Which car is more value for money? The Innova Hycross is priced from Rs 18.8 lakh to Rs 30.8 lakh, while the XEV 9S is priced from Rs 19.9 lakh to Rs 29.45 lakh. The XEV 9S is less priced and has more features, while it will be interesting to see the segment change now that it has entered the market.

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11 months ago
Hong Kong fire tragedy: Toll rises to 75, flames still visible on Day 2; 3 suspects held for manslaughter
World

Hong Kong fire tragedy: Toll rises to 75, flames still visible on Day 2; 3 suspects held for manslaughter

A devastating fire at a Hong Kong housing complex has claimed 65 lives, with hundreds still missing. The blaze, believed to have started in scaffolding, engulfed seven of eight towers. Three men have been arrested for manslaughter amid a corruption probe into the renovation project, as authorities investigate fire-resistance standards and consider phasing out bamboo scaffolding.

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11 months ago
‘Stranger Things’ biggest SPOILERS going viral
Entertainment

‘Stranger Things’ biggest SPOILERS going viral

Stranger Things Season 5, Vol. 1 has fans on the edge of their seats with shocking developments taking social media by storm. Will Byers sheds light on Vecna's chilling powers, and the enigmatic Kali returns just when we least expect it. As Max and Holly navigate the perilous depths of Henry Creel's psyche, Karen Wheeler emerges as a fierce protector.

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11 months ago
Suniel Shetty reveals why he rejects South film offers
Entertainment

Suniel Shetty reveals why he rejects South film offers

Bollywood star Suniel Shetty reveals why he declines many South Indian film offers. He mostly receives roles for antagonists, which he dislikes. Shetty only accepted a negative role in Rajinikanth's 'Darbar' to fulfill a personal dream. He recently supported Tulu cinema with a cameo in 'Jai'. Shetty believes strong content transcends language barriers.

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11 months ago
Chemical slump deepens: Wacker Chemie to cut 1,500 jobs; German sector hit by high energy costs and weak demand
Business

Chemical slump deepens: Wacker Chemie to cut 1,500 jobs; German sector hit by high energy costs and weak demand

German chemical giant Wacker Chemie is set to eliminate 1,500 jobs, approximately 10% of its global workforce, by the end of 2027. This significant reduction, primarily in Germany, is part of a strategy to save over 300 million euros annually. The company cited weak demand, intense competition, and high energy prices as key drivers for these measures.

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11 months ago
Dharmendra’s prayer meet: Bobby Deol looks visibly emotional
Entertainment

Dharmendra’s prayer meet: Bobby Deol looks visibly emotional

Bollywood's beloved Dharmendra was honored with a 'Celebration of Life' on November 27th, following his passing on November 24th, 2025. Family, including Bobby and Sunny Deol, alongside industry stars like Sidharth Malhotra and Jackie Shroff, gathered at Taj Lands End. Sonu Nigam performed iconic songs, reflecting Dharmendra's joyful spirit. Hema Malini shared a heartfelt tribute, remembering his enduring legacy.

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11 months ago
'Fraud, nepotism, corruption': Heritage Foundation speaks out on H-1B row, says H-4 spouses should not be authorized to work in US
World

'Fraud, nepotism, corruption': Heritage Foundation speaks out on H-1B row, says H-4 spouses should not be authorized to work in US

The Heritage Foundation, the Conservative think tank, has waded into the H-1B controversy and concluded that it is not fair to let the program go on in its current forma as there is fraud and nepotism in every stage. "The program cannot go on in its current form. Putting American workers first is necessary to make the American Dream attainable again," Kevin noted.

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11 months ago
EPFOA Protests Deputation Clause, Says It Violates Past Tribunal Orders And Due Process
Business

EPFOA Protests Deputation Clause, Says It Violates Past Tribunal Orders And Due Process

An officers' union of the retirement fund body EPFO has sought withdrawal of a provision which enables the appointment of officers on deputation in a newly-constituted panel set up for cadre restructuring. The EPF Officers' Association (EPFOA) has written a letter to the Central Provident Fund Commissioner (CPFC) of the Employees' Provident Fund Organisation, Ramesh Krishnamurthi, seeking the removal of the deputation clause from the terms of reference (TOR) of the cadre restructuring (CR) committee constituted by the EPFO on November 25. The letter said that earlier the EPFOA had challenged the practice of appointing officers on deputation and had got a favourable judgement from the Central Administrative Tribunal (CAT) in 2007. Another case has also been filed by EPFOA against such improper appointment, and it is currently pending before the Punjab & Haryana High Court, it said. Despite this, whenever there is talk of cadre restructuring (CR) in EPFO, the issue of deputation is brought back to life. During the previous CR exercise in 2017, the issue of deputation was resurrected by the then CPFC. The officers' union also pointed out that there is no evidence that the new committee's constitution or its terms were approved by the Central Board of Trustees (CBT), and that it is a breach of due process. "If EPFO becomes a deputationist organisation, we will lose the very essence that makes us a productive, flexible and high-performing organisation. EPFO officers deserve much better than this shabby treatment being meted out to us. Therefore, it is requested that the deputation clause must be immediately removed from the TOR of the committee constituted on November 25, 2025, and no meetings of the committee may be convened till the same is done," the letter said.  (This report has been published as part of the auto-generated syndicate wire feed. Apart from the headline, no editing has been done in the copy by ABP Live.)

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11 months ago