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Latest StoriesRegulatory

ED Arrests Galaxy Constructions Director in Bank Fraud Case

MUMBAI: The ED has taken into custody the director of a Pune-based real estate firm from a five-star hotel in Mumbai, along with Rs 9.5 lakh in cash and gold and diamond jewelry valued at Rs 2.3 crore in connection with a bank loan fraud investigation. Amit Ashok Thepade was arrested on Sunday at the luxury hotel in south Mumbai, where he had been residing for the past two months. According to the federal agency, a special Prevention of Money Laundering Act (PMLA) court has remanded him to ED custody for five days. The ED reported that Thepade, who had…

Housing FinanceLatest Stories

Mortgage Rate War Hits Housing Finance Companies Hard

Housing finance companies (HFCs) are under considerable strain due to aggressive mortgage pricing by public sector banks, leading to reduced margins. Although loan disbursals are growing, many HFCs are not experiencing a corresponding rise in assets under management (AUM), primarily because borrowers are transferring their home loans to rival firms. In the June 2025 quarter, Bajaj Housing Finance reported a 0.5% drop in net profit, while Aadhar Housing Finance and LIC Housing Finance experienced growth rates of 10% and 5%, respectively. The recent reduction in lending rates by the Reserve Bank of India, which cut the repo rate by 100…