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Business: The Enforcement Directorate (ED) on Wednesday made another arrest in the famous Rs 500 crore Cooperative Bank scam of Andaman and Nicobar Islands. The agency has arrested Sanjay Lal, a hotelier from Port Blair, who is accused of obtaining huge loans through fraud. An ED official said, on Wednesday we arrested Sanjay Lal and he has been sent to judicial custody. Our Kolkata team is investigating in Port Blair and further action is underway. ED says that some officials of the bank, including former MP and Congress leader Kuldeep Rai Sharma, had jointly committed this fraud. Sharma, a former chairman of the bank, was arrested along with two other accused last month.
India-France will build submarines for friendly countries also
India and France will now build and export submarines for their friendly countries also. For this, French defense industry company Naval Group and India’s Mazagon Dock Shipbuilders Ltd. (MDL) extended a Memorandum of Understanding (MOU). Its objective is to support the Make in India initiative and enhance India’s export potential. India and France last Thursday signed an extension of the existing MoU to strengthen cooperation for joint export of submarines. The renewed MOU builds on the original agreement signed in July, 2023, which reaffirms India-France partnership in the field of submarine design, engineering and naval technology. This also includes exploring opportunities for export of Indian-made Scorpene-class submarines to international partners.
Bankruptcy proceedings will be held on Bhilai JP Cement
The National Company Law Tribunal (NCLT) has ordered debt-ridden conglomerate Jaiprakash Associates Ltd. Directed to initiate insolvency proceedings against Bhilai Jaypee Cement, its subsidiary, for default of Rs 45 crore. This instruction of the Cuttack bench of NCLT was issued by the company’s operational lender Siddhagiri Holdings Pvt. Ltd. Has come after the petition of.
NMDC reduced iron ore prices
Public sector company NMDC on Wednesday said it has reduced the prices of iron ore lumps (lumps) and its fines by Rs 550 and Rs 500 per tonne respectively with immediate effect. It has fixed the price of lump ore at Rs 5,550 per tonne and the price of fines at Rs 4,750 per tonne, the company said in a regulatory filing.
18.3 percent jump in Yes Bank’s profits
Yes Bank’s net profit increased by 18.3 percent to Rs 654 crore in the September quarter of the current financial year. Profits have increased due to growth in non-core income. Managing Director and CEO of the bank, Prashant Kumar said, the target will be to increase the loan growth to 10 percent in the current financial year. Other income of the bank increased by 16.9 per cent to Rs 1,644 crore during the quarter.
IDBI Bank: Profit increases to Rs 3,627 crore
IDBI Bank’s net profit doubled to Rs 3,627 crore in the September quarter of 2025-26. The bank said, it offered 2.22 crore equity shares in the IPO at a price of Rs 799.87 per share. This stake is in National Securities Depository Ltd. Its total ownership share was 11.11 percent. The bank made a net profit of Rs 1,698.96 crore from this sale.
UCO Bank will open 150 more branches by March
UCO Bank is planning to open 150 more branches in the next five months to expand its presence and business. At present, the bank has 3,322 branches across the country. With the addition of 150 branches, its network will increase to 3,472 by the end of the current financial year. UCO Bank Managing Director and CEO Ashwini Kumar said, work is going on to improve the environment of the branches.
4.8 crore smartphones sold in three months, Apple again in top-5
India’s smartphone market grew by three percent year-on-year to reach 4.84 crore units in the third quarter of calendar year 2025. That means so many smartphones were sold in the country in three months. During this period, the leading American company Apple has once again returned to the top 5 companies selling the most smartphones.
Maximum demand for electricity decreased on Diwali, consumption also declined
There was a decline in the maximum demand or maximum supply of electricity on the day of Diwali in the country as compared to last year. According to the data of the Power Ministry, the maximum demand for electricity came down to 180.14 GW on Monday, which was 182.87 GW on Diwali day last year, October 31, 2024. Generally, on Diwali, power consumption along with demand increases due to excessive usage of lights and other appliances by domestic and commercial consumers. According to the data, the total electricity consumption of the country came down to 396.5 crore units on Monday, whereas last year on the day of Diwali, 406.2 crore units of electricity were consumed. The maximum power demand recorded on Tuesday was 176.50 GW. The ministry estimated that peak power demand in summer would reach 277 GW, higher than the all-time high of 250 GW recorded in May last year.
ED chargesheet against beauty influencer Sandeepa and others
The Enforcement Directorate (ED) has filed a charge sheet in the court against beauty influencers Sandeepa Virk and Amit Gupta alias Nageshwar Gupta in a money laundering case. Virk was arrested on August 12 and is in judicial custody.
Additional Sessions Judge Vijay Shankar issued notices to both the accused after taking the charge sheet on record. The court has fixed the next hearing of the case on November 3. The court said that before framing charges it is necessary to hear the accused. According to ED, in 2016, an FIR was registered against Amit in a fraud case at Phase-8 police station in Mohali. Later ED started money laundering investigation in this case.
Tesla will recall 13 thousand vehicles due to battery failure
Electric vehicle company Tesla has decided to recall 12,963 of its vehicles from America. The US National Highway Traffic Safety Administration (NHTSA) said in a statement that the decision to recall the vehicles was taken because there is a possibility of a fault in the battery connection, due to which the power supply of the vehicle may also be cut off. Therefore, some changes will be made in its repairs and parts.
