Monday, August 17
Mumbai: The government has expressed serious concerns over the sharp rise in digital frauds, with financial services secretary M Nagaraju flagging the growing menace of mule accounts as a major challenge. Speaking in Mumbai at the Indian Banks' Association's (IBA) 21st Annual Banking Technology Conference, Nagaraju said that despite sustained efforts by banks, the situation remains alarming and calls for deeper deliberations to arrive at workable solutions."The government is very concerned about the rising frauds and digital risks, which are leading to innocent people losing their lifelong savings," Nagaraju said. "The menace of mule accounts is growing and, despite all possible efforts by banks, the situation is not very good. Traditional systems have been deployed to tackle these issues,
The inflows in gold ETFs have hit an all-time high of Rs 11,646 crore in December, while witnessing a surge of 211% on a month-on-month basis from an inflow of Rs 3,741 crore in November, according to the monthly data released by the Association of Mutual Funds in India (AMFI).Higher inflows in the category resulted in a rise of 16% in the net assets under management (AUM) to Rs 1.27 lakh crore in December compared to Rs 1.10 lakh crore in November. On a year-on-year basis, the inflows in the category have gone up by 1719% from an inflow of Rs 640.16 crore in December 2024.Also Read | Inflow slowdown hits large, mid and smallcap funds in December. Is investor sentiment cooling?With gold ETFs seeing record inflows in December, market experts recommend rebalancing the allocation based on the
