Shriram Finance, a leading Indian NBFC, is aggressively expanding its gold loan and electric vehicle (EV) financing segments, targeting a Rs 20,000 crore gold loan portfolio within two years and expecting significant growth in EV disbursements.
A farmer was found dead inside a private finance company's office in Nanded, Maharashtra, with his family alleging he was forcibly taken, confined, and assaulted over a disputed loan amount. Police have detained three individuals and registered a case of murder, kidnapping, and wrongful confinement. A similar case of loan recovery harassment has also emerged in the area, prompting the Nanded Superintendent of Police to urge farmers to report such incidents.
A farmer who borrowed Rs 10,000 was found dead in a private finance firm's office in Nanded. Police have registered a murder and kidnapping case against the firm's owner and two others. The family alleges the farmer was assaulted and then hanged, with the company demanding Rs 70,000 for the original loan.
Finance Minister Nirmala Sitharaman has called for enhanced accountability and safeguards for artificial intelligence, particularly as it integrates into critical sectors like finance. Speaking at the Global Fintech Fest, she highlighted the dual nature of AI, capable of accelerating transactions but also amplifying fraud and cyberattacks. Sitharaman stressed the need for human and institutional responsibility in AI-driven decisions, urging regulators and companies to scrutinise high-risk AI applications. She also proposed a federated industry platform for Indian tech companies to navigate international regulations and ensure tax compliance globally.
Finance Minister Nirmala Sitharaman clarified that the proposed Merchant Discount Rate (MDR) on select high-value UPI transactions is not a tax or cess, and its collections will not go to the government. She explained that MDR is a charge within the digital payments ecosystem, shared among participants to maintain infrastructure, and will not be passed on to consumers. The NPCI's new framework, effective October 15, applies a 0.4% MDR on person-to-merchant UPI transactions above Rs 2,000, with most transactions remaining free and small merchants exempt.
The Finance Ministry is set to commence its pre-budget meetings on October 12, initiating preparations for the Union Budget 2027-28, which will be the fourth budget of the Modi 3.0 government and the tenth for Finance Minister Nirmala Sitharaman.
The Finance Ministry has clarified that the decision to impose a 0.4% Merchant Discount Rate (MDR) on UPI transactions above Rs 2,000 was made independently, refuting claims of foreign influence. The ministry stated the policy aims to build a self-sustaining digital payments ecosystem, with MDR funding infrastructure and supporting small merchants.
The Finance Ministry has refuted allegations that US pressure influenced the decision to levy a 0.4% Merchant Discount Rate (MDR) on select UPI payments. It clarified that NPCI guidelines prioritise RuPay credit cards on UPI to foster a domestic payment ecosystem and that the MDR introduction aims to create a sustainable revenue model for smaller domestic companies, thereby protecting India's sovereignty in digital payments.
A dispute over the income and expenditure of a Ramlila fair in Pilibhit, Uttar Pradesh, escalated into violence on Monday evening, resulting in the deaths of three people and one injury. Police have arrested the prime accused, Kaushal Gupta, following the incident in the Amariya area.
The Finance Ministry has refuted allegations that US pressure influenced the decision to levy a 0.4 per cent Merchant Discount Rate (MDR) on select UPI payments. The ministry clarified that the NPCI guidelines prioritise RuPay credit cards on UPI to promote domestic alternatives and ensure a self-sustaining revenue model for smaller domestic companies, countering claims of favouring foreign payment providers.
Nine individuals have been arrested in connection with the death of a farmer at a private finance company's office in Nanded, Maharashtra. The victim's wife alleged her husband was kidnapped, confined, and assaulted, leading to a murder case. The family claims the company demanded an exorbitant amount against a small loan, prompting police to urge victims of coercive recovery to report such incidents.
BRICS finance ministers and central bank governors have called for increased representation of emerging-market and developing economies in the IMF and World Bank, while also criticising unilateral tariffs and trade measures, as the expanded bloc aims to bolster financial cooperation amidst global fragmentation.
The Union finance ministry has constituted a high-level committee, chaired by former Central Vigilance Commissioner Suresh N Patel, to recommend structural, regulatory, and legislative reforms for India's banking sector, aiming to make banks globally competitive and support the financing needs of a developed economy.
An intra-Union Territory terror financing module has been uncovered in Jammu jjjand Kashmir, leading to the arrest of 10 overground workers. The module was allegedly collecting funds from the public and channelizing them to Lashkar-e-Taiba (LeT)/The Resistance Front (TRF) for terrorist activities and logistical support.
A 28-year-old farm labourer in Latur, Maharashtra, allegedly died by suicide on Monday due to distress over unpaid loans from private finance companies. He left a note naming the companies and expressing inability to repay his mounting debt.
Police in Latur, Maharashtra, have registered a case against officials of four credit firms, including Equitas Bank and Shriram Finance, after a farm labourer allegedly died by suicide due to harassment over loan repayment. The man, Dattatraya Suryakant Kumbhar, was found hanging on Monday.
Finance Minister Nirmala Sitharaman has strongly criticised the Congress party and the previous UPA government amidst the row over IDBI Bank's divestment, alleging they used banks and financial institutions as "personal entities" and pressured employees to extend loans bypassing prudent norms. She defended the current government's decision to sell a stake in IDBI Bank to Fairfax, stating it was revived through professionalism and recapitalisation.
Finance Minister Nirmala Sitharaman has criticised Congress leader Rahul Gandhi for alleging the 'criminal destruction' of the Tata Group, urging him to refrain from 'politicising' commercial and legal matters and accusing him of trying to incite business leaders.
The Enforcement Directorate has registered a money laundering case against media baron Subhash Chandra in connection with an alleged loan fraud that caused a Rs 1,322 crore loss to Life Insurance Corporation Housing Finance Limited (LICHFL). Chandra is accused of inflating his net worth to secure and then default on loans.
NITI Aayog has called for a fundamental overhaul of urban governance in India, advocating for empowered city governments, directly elected mayors with five-year terms, and greater financial autonomy for urban local bodies to manage the country's rapidly growing urban population.
Financial independence begins not only with earning or investing more but also with knowing what one owns, understanding where one's money is held and taking responsibility for managing it.
The Raman Kant Munjal Scholarship for 2026-27, initiated by the Raman Kant Munjal Foundation and supported by Hero FinCorp, is designed to help students in finance-related fields achieve their career aspirations.
Commercial vehicle loans recorded the highest early-stage delinquency among vehicle finance products, with portfolio at risk (PAR) 31-90 at 4.1 per cent in June 2026, while used car loans emerged as the fastest-growing segment, according to a CRIF High Mark report.
The IDBI Bank stake sale could generate over Rs 26,500 crore, helping the government surpass its annual divestment target, notes A K Bhattacharya.
Investors should study the technology behind digital assets, including blockchain networks, wallets and transaction verification, rather than rely solely on recommendations. Understanding the technology could help them assess the risks.
India is proposing the Data Empowerment and Protection Architecture (DEPA) for AI Training, a national framework designed to enable startups, researchers, and companies to train AI models using data from hospitals, banks, and public agencies while ensuring privacy and security. This initiative aims to unlock significant AI-driven value for India's GDP by 2030.
Manappuram Finance has announced the appointment of Ashish Singh as its new managing director and chief executive officer, effective January 1, 2027, marking a significant shift from its family-led governance structure.
The Indian government has increased the windfall gains tax on the export of diesel and Aviation Turbine Fuel (ATF) while simultaneously eliminating the levy on petrol exports for the fortnight starting October 31.
Delhi Police has filed a chargesheet under the stringent Maharashtra Control of Organised Crime Act (MCOCA) against alleged Irani gang chief Nasir Hafiz Khan and two associates. The gang is accused of robberies, cheating, and other offences across multiple states, with Khan having 46 criminal cases against him. The MCOCA case stems from a robbery reported in October 2025, and investigations revealed an organised network using fake identities and routing crime proceeds.
Indian benchmark equity indices, Sensex and Nifty, experienced a decline in early trade due to elevated crude oil prices, ongoing geopolitical uncertainties, and investor caution ahead of the US Federal Reserve's policy decision later this week. Track Sensex, Nifty on October 26.
Engagement with neighbours has gathered pace, particularly as the conflict in West Asia has exposed their vulnerability to energy supply disruptions.
Senior IPS officer Prashakha Mathur has been placed on awaiting posting orders (APO) by the Rajasthan government. This action follows similar measures against her husband, IAS officer Shikhar Agrawal, who is under an Anti-Corruption Bureau (ACB) investigation for alleged irregularities in the purchase of 40 villas and cottages. Mathur also has some of these properties registered in her name. The ACB alleges Agrawal misused his position to benefit a private company from which the properties were bought at undervalued prices.
India's private equity (PE) industry is transitioning from a 'spray and pray' approach to a more selective investment model, focusing on established businesses, greater strategic influence, and operational transformation to generate definitive returns, according to industry leaders Renuka Ramnath and Amit Chandra.
AIFF President Kalyan Chaubey's proposal to liquidate the federation's fixed deposit to cover deficits from recent international friendly matches was rejected by members during a Special General Body Meeting on Sunday. Members cited an Executive Committee decision that the FD cannot be liquidated, while concerns were raised about the financial burden and transparency of hosting high-profile games.
The Ministry of Heavy Industries (MHI) anticipates disbursing approximately 4,700 crore in incentives under the automotive PLI scheme in FY27, more than double the previous two years, while also exploring financing mechanisms for electric buses and trucks and promoting domestic manufacturing of critical EV components.
Despite recent foreign portfolio outflows, India's long-term investment prospects remain strong, but the return of capital hinges on global financial conditions, relative valuations, and the country's ability to attract sustained foreign investment, according to foreign bankers at the Business Standard BFSI Insight Summit.
India's passenger vehicle wholesales increased by 12.4 per cent year-on-year in October, reaching 528,384 units, driven by robust festival demand, GST rate cuts, income-tax relief, and low interest rates, which collectively improved vehicle affordability.
YouTuber Jason Samuel Vijayakumar has been arrested in Chennai for allegedly abetting the suicide of financial content creator V Harish. Harish, who ran "Finance with Harish" with 1.3 million followers, reportedly faced cyberbullying and defamatory videos from Vijayakumar, leading to mental distress and his death by suicide on October 20, 2026. Vijayakumar denies the allegations, claiming he acted in consumer interest by questioning Harish's lack of a SEBI-registered license.
Indian tourists can now use the Unified Payments Interface (UPI) to book tickets online for Dubai's Burj Khalifa and major attractions in Singapore, including Universal Studios. This initiative, facilitated by NPCI International Payments Ltd (NIPL) through strategic partnerships, aims to simplify international travel payments for Indians and strengthen digital and economic links with these countries.
A Delhi court has rejected the CBI's plea to alter charges against former DHFL CMD Kapil Wadhawan, former director Dheeraj Wadhawan, and businessman Ajay Ramesh Nawandar in the Rs 34,000 crore bank fraud case. The court stated it cannot review its own order of framing charges except for clerical errors and found no evidence for certain IPC sections.
