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Dubai, June 27: HDFC Bank, India’s largest private lender, is under scrutiny in the UAE over allegations it sold high-risk Credit Suisse AT1 bonds to retail investors in violation of regulatory norms.

The bonds — complex instruments meant only for experienced or high-net-worth clients — were wiped out in March 2023 during Credit Suisse’s emergency merger with UBS. Several investors claim HDFC Bank relationship managers misrepresented these as safe, forged financial documents to meet eligibility criteria, and failed to disclose crucial risks.

Dubai resident Varun Mahajan says he lost $300,000 in savings and alleges the bank inflated his net worth to bypass DFSA rules. Another investor, NS from the Philippines, claimed he was sold AT1 bonds using a leverage loan he never applied for. Others, including Indian national Pankaj Sinha and South Africa-based AT, described similar misrepresentation, unauthorized document changes, and manipulation of KYC data.

Legal complaints have been filed in India, the UAE, Bahrain, and DIFC. Investors accuse the bank of misleading them and exposing them to losses running into millions of dollars.

In response, HDFC Bank denied any wrongdoing, stating it follows strict processes and takes action against malpractice. The DFSA has declined to comment due to legal confidentiality.

Internal sources say several HDFC executives have recently resigned, and the Dubai offshore head has been replaced, raising questions about accountability.

Experts say the case exposes regulatory gaps across jurisdictions and may prompt closer scrutiny of how banks operate across borders.

Mangaluru, June 28: After years of public demand, the Vijayapura–Mangaluru Central train has been made a regular service. MP Capt Brijesh Chowta announced the news on Twitter and thanked Railway Minister Ashwini Vaishnaw and Minister V Somanna for their support.

The train will now run daily with the following schedule:

•  From Vijayapura to Mangaluru (Train No. 17377):

Departs Vijayapura at 3:00 PM → Arrives Mangaluru Central at 9:50 AM the next day.

•  From Mangaluru to Vijayapura (Train No. 17378):

Departs Mangaluru Central at 4:45 PM → Arrives Vijayapura at 11:15 AM the next day.

The regular service will benefit patients from North Karnataka visiting Mangaluru for medical treatment, students studying in coastal districts, and daily commuters.

This train had been operating on a temporary basis since December 1, 2021.

Bengaluru has cemented its status as one of the world’s top 10 technology talent hubs, standing shoulder to shoulder with global giants like Beijing and Tokyo, according to Colliers’ latest report, "Global Tech Markets: Top Talent Locations 2025."

The report analyzed over 200 cities worldwide on key indicators such as talent acquisition, venture capital (VC) funding, labor quality, talent pipeline, and sectoral composition. The findings reveal a dominant presence of Indian and Chinese cities in the global tech talent landscape — with India shining particularly bright.

India’s top six cities have secured positions among the top 10 in the Asia-Pacific region for tech talent acquisition, reflecting the country’s vast skilled workforce and thriving innovation ecosystem. Bengaluru and Hyderabad continue to lead the pack, offering a strong combination of deep talent pools, advanced IT infrastructure, and cost-effective operations — a combination highly attractive to global tech firms.

“India is a powerhouse of tech talent and a key player in the global innovation ecosystem,” said Arpit Mehrotra, Managing Director, Office Services, India, Colliers. “Bengaluru and Hyderabad alone accounted for nearly half of the conventional office space leasing in H1 2025.”

During the first half of 2025, tech companies leased over 10 million sq. ft. of office space across India’s top seven cities, representing 40% of total demand for conventional office spaces. In flexible workspaces too, tech occupiers made up nearly 50% of leasing activity.

This surge is backed by India’s competitive advantages — from a large base of young, highly skilled professionals to an ever-expanding startup ecosystem. The report highlights a key trend: tech workforces are getting younger. Between 2014 and 2022, workers under 25 in the tech sector grew by 9%, a rate more than 20 times higher than the all-industry average. This demographic shift is fueling interest in cities like Bengaluru, Hyderabad, and Jakarta.

Globally, demand is also surging for specialized roles like AI experts, data scientists, and cybersecurity professionals, as traditional IT job postings decline. Bengaluru's deep talent pool in these emerging areas is further reinforcing its appeal to international employers.

With high-quality office infrastructure, a robust digital backbone, and unmatched talent scalability, India’s tech cities are not just competing globally — they’re leading the way.