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The Latest Breaking News from Mumbai

RBI cancels licence of Mumbai-based Sarvodaya Co-operative Bank

The Reserve Bank of India has made the tough call to withdraw the license of Sarvodaya Co-operative Bank, a decision rooted in the bank's failing capital and declining revenue capabilities. As of May 12, 2026, all banking activities will halt. In a bid to protect depositors, the bank's clients will…

The Economic Times

Chanel for Chandigarh, Mango for Mangaluru: India’s luxury map shifts beyond metros

India's retail landscape is shifting as smaller Tier-2 cities are now attracting global brands and premium malls, outperforming larger metros. A new study reveals a parallel retail economy emerging, driven by strong consumption power and modern infrastructure in these rapidly developing urban centers.

The Economic Times

'Nobody will fly': India's plane versus train battle gets a twist

India's Railway Minister said upcoming bullet trains will dominate short-haul routes like Mumbai-Pune and Bengaluru-Chennai, mirroring global trends. This strategic shift prioritises high-speed rail for premium intercity travel, potentially reshaping India's transport landscape and economic integration by compressing travel times and fostering regional growth.

The Economic Times

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22k gold rate today: Check 24k, 22k, 18k gold prices (May 12, 2026) on IBJA, Malabar Gold & Diamonds, Joyalukkas, Tanishq and Kalyan Jewellers

Gold prices are high today, May 12, 2026. Major jewelers show rising rates for 22k gold. This follows a call to reduce gold buying for a year to help foreign exchange reserves. The India Bullion and Jewellers Association wants policy changes to use household gold better. They suggest allowing gold…

The Economic Times

Petrol, Diesel prices today hiked? Check the latest rates in Delhi, Mumbai, Kolkata and other cities as OMCs bleed Rs 1,000 crore per day

Petrol, Diesel prices today (May 12): Petrol and diesel prices remained steady on May 12, 2026, despite rising concerns over India's energy security and escalating crude oil prices. The government is absorbing daily losses to shield consumers, while urging citizens to curb fuel consumption amid Middle East tensions. India maintains…

The Economic Times

Railway utilised 98 pc capex by Feb-end; trains to dominate flights in new corridors: Vaishnaw

Indian Railways achieved 98 percent budget utilization for FY26. New high-speed corridors will significantly cut travel times, making trains the preferred mode over flights. Mumbai to Pune will take 28 minutes, and Delhi to Varanasi just 3 hours and 50 minutes. The railway network has seen extensive electrification and new…

The Economic Times

Ambani's Reliance Jio: Businesses and investors of the IPO-bound firm

Reliance Jio Platforms, owned by billionaire Mukesh Ambani, is preparing to seek approvals for a Mumbai IPO that could become India’s biggest stock market listing. Reuters reported the offering may raise up to $4 billion, though timelines were delayed due to weaker IPO sentiment after tensions in West Asia.

The Economic Times

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22k gold rate today: Check 24k, 22k, 18k gold prices (May 11, 2026) on Malabar Gold & Diamonds, Joyalukkas, Tanishq, Kalyan Jewellers and IBJA after PM Modi’s announcement

Prime Minister Narendra Modi urged citizens to temporarily reduce gold purchases for one year to ease pressure on foreign exchange reserves and imports. Following his appeal, gold prices saw a slight dip. Today, 22k gold is priced around Rs 13,945 per gram at major retailers, with Tanishq showing a slightly…

The Economic Times

Bullet trains will wipe out short-haul flights, Ashwini Vaishnaw warns airline investors

India's new high-speed rail network will significantly impact short-haul flights. Railways Minister Ashwini Vaishnaw stated that routes like Mumbai-Pune and Hyderabad-Bengaluru will be dominated by trains. Travel times will drastically reduce, making air travel uncompetitive. Investors in aviation should consider this shift. The government plans substantial investment in these bullet…

The Economic Times

Inglis ramps up IPL magic but upstaged by 13-ball 50

Josh Inglis is the latest Australian batter to shine in the IPL but even his magic paled in comparison to a 13-ball half-century from Chennai's Urvil Patel.

AAP

Lady took loan for investment into venture capital fund, claimed Rs 1.49 crore interest deduction, was denied by I-T dept; ITAT allows it in a landmark ruling

Aishwarya Bachchan won a tax case in ITAT Mumbai. She claimed Rs 1.49 crore interest deduction on a loan taken for Venture Capital Fund investments. The tax department denied this. ITAT ruled in her favour, allowing the deduction. The tribunal cited consistency in accepting similar claims and sufficient proof of…

The Economic Times

22k gold rate today: Check 24k, 22k, 18k gold prices (May 8, 2026) on Malabar Gold & Diamonds, Joyalukkas, Tanishq, Kalyan Jewellers and IBJA

Gold and silver prices remained largely unchanged on May 8, 2026, following an uptick driven by easing inflation concerns and potential US-Iran peace talks. Experts predict gold could reach $4,800-$4,850, while silver eyes $85, with markets awaiting key economic data.

The Economic Times

Hormuz technically open for ships, but risks too high, says Indian National Shipowners’ Association chief

NEW DELHI: The Strait of Hormuz remains technically open, but commercial shipping is far from normal, according to Anil Devli, chief executive of the Mumbai-based Indian National Shipowners’ Association.

The Times of India

India’s next data centre race will be won on speed, scale and sustainability

India is set for a digital infrastructure boom. Data centre capacity will surge by 2030. New hubs are emerging beyond Mumbai and Chennai. Computing power demands are reshaping data centre design, requiring liquid cooling and advanced electrical systems. Speed of delivery and sustainable practices will be key.

The Economic Times

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The Economic Times

Mumbai watermelon death case solved

Mumbai police have confirmed that a family of four died from zinc phosphide poisoning, a potent rat poison, not from eating watermelon as initially suspected. Forensic reports revealed traces of the toxic chemical in the victims' viscera. The investigation is ongoing to determine if the poisoning was accidental or intentional.

The Economic Times

The Gold Standard: How a Bootstrapped Company Outlasted Every Funded Rival in India’s Goldtech Boom

Augmont Enterprises has quietly established India's most comprehensive gold platform. Unlike well-funded rivals that faltered, Augmont focused on building infrastructure and integrating its operations. This Mumbai-based company's sustainable approach contrasts with the 'growth-at-all-costs' model. As Augmont prepares to go public, its success highlights a different path to building a durable…

The Economic Times

22k gold rate today: Check 24k, 22k, 18k gold prices (May 7, 2026) on Malabar Gold & Diamonds, Joyalukkas, Tanishq, Kalyan Jewellers, IBJA

Gold and silver prices surged on Thursday, May 7, 2026, driven by easing global inflation concerns and positive diplomatic signals between the US and Iran. This de-escalation prospect led to a significant rally in both precious metals, with gold and silver rising 3% and 6% respectively.

The Economic Times

22k gold rate today: Check 24k, 22k, 18k gold prices (May 6, 2026) on Malabar Gold & Diamonds, Joyalukkas, IBJA, Tanishq and Kalyan Jewellers

Gold prices surged on May 6, 2026, driven by escalating Middle East tensions and amplified inflation concerns. Major jewelry brands and IBJA reported noticeable uptrends in 22k gold rates, reflecting firm global cues. This rise follows a day of pressure on gold prices due to geopolitical events.

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The Economic Times

Air India Maharaja Club: Earn up to 200,000 bonus points for converting reward points under airline's May 2026 offer

The Bonus Points earned during the Points Fest can significantly enhance members’ ability to redeem rewards across Air India’s expanding domestic and international network. 2,00,000 Maharaja Points can get members, for example, up to 5 one-way Economy Class tickets between Mumbai and London Heathrow or up to 20 round-trips on…

The Independent UK

Watermelon sales crash as family of four die mysteriously after eating the fruit

In the early hours of Sunday, Abdullah Dokadia, his wife Nasreen, and their daughters Ayesha and Zainab died at their home in Mumbai after eating watermelon, police say

The Economic Times

22k gold rate today: Check 24k, 22k, 18k gold prices (May 5, 2026) on IBJA, Malabar Gold & Diamonds, Joyalukkas, Tanishq and Kalyan Jewellers

Gold prices experienced a minor decrease on May 5, 2026. Rates for 24k, 22k, and other gold purities showed a downward trend compared to the previous day. Leading jewellers like Tanishq, Malabar Gold & Diamonds, Kalyan Jewellers, and Joyalukkas reported lower prices.

MyLifeXP

Met Gala 2026: India’s Boldest Looks That Stunned the World

What happens when tradition meets the world’s biggest fashion stage? At Met Gala 2026, the answer was impossible to ignore. Under the theme “Fashion Is Art,” celebrities didn’t just wear outfits they became living expressions of creativity. And this time, India didn’t just show up it stood out. From hand-painted…

AAP

Langer's luckless Lucknow slump to sixth straight loss

Despite the arrival of newlywed Josh Inglis and a breezy 44 from Mitch Marsh Justin Langer's Lucknow Super Giants stay bottom of the IPL after losing to Mumbai.

Whats Hot

Mumbai Drug Trafficking Kingpin Salim Dola Deported to India After Arrest in Turkey

Mumbai-born drug trafficking mastermind Mohammad Salim Dola, 59, has been deported to India following his arrest in Turkey, marking a major breakthrough for Indian law enforcement agencies pursuing long-standing narcotics cases against him.

MyLifeXP

Why These New Amrit Bharat Trains Matter More

What if traveling across states became easier, cheaper, and more connected than ever before? For millions, long-distance journeys are not just about reaching a destination they carry emotions, responsibilities, and dreams. Whether it’s work in a new city, visiting family, or seeking spiritual peace, every journey matters Now, something has…

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