Indian banks and non-banking financial companies (NBFCs) are undertaking a comprehensive review and reset of their engagement terms with fintech firms, driven by the Reserve Bank of India's (RBI) draft Guidance on Regulatory Expectations for Data Governance and the stringent compliance requirements of the Digital Personal Data Protection (DPDP) Act, 2023, and its 2025 Rules.
The Reserve Bank of India (RBI) has extended the implementation date for its revised loan recovery and agent engagement directions to January 1, 2027, from the previously proposed October 1, 2026, following stakeholder feedback.
The Securities and Exchange Board of India (Sebi) has proposed allowing celebrity endorsements for its regulated entities like AMCs and stock brokers, but only at the brand level, not for specific products or services, as part of a major overhaul of advertisement codes.
An Israeli soldier was killed and seven others, including a colonel, were injured when an improvised explosive device (IED) struck a vehicle during combat operations in southern Lebanon. The attack, attributed to Iran-backed Hezbollah, also involved explosive-laden drones.
The new Asus TUF Gaming A14 laptop, featuring an AMD Ryzen AI 9 processor and Nvidia GeForce RTX 5060 GPU, is priced at Rs 1,99,990 for the FA401GM-RG038WS model.
'...A new challenge has emerged in the form of Mythos.'
A better, faster, more efficient 2-in-1 gaming tablet with 1TB storage
Realme has introduced its new Realme Narzo Power 5G handset in the Indian market, highlighted by an enormous 10,001mAh power unit.
Platform-style partnerships between global investors and Indian developers are expected to gain further traction over the next few years. This comes as institutional capital increasingly shifts from one-off asset acquisitions to scalable, long-term strategies.
Prime Minister Narendra Modi is scheduled to visit Israel for two days to discuss bilateral and regional issues, marking his second visit to the Jewish state and highlighting the growing strategic partnership between India and Israel.
Nothing's offshoot, CMF, has stepped into the over-ear audio space with the India debut of its very first model, the CMF Headphone Pro.
The Summer Research Fellowship Programme 2026 is a merit fellowship offered to students and teachers to pursue research in science, engineering and medicine.
State Bank of India has 18,000 pending cases and Bank of Baroda has around 1,000 cases.
Apple's iPhone 17, iPhone Air, AirPods Pro 3, and new Watches set the stage for a smarter future, but it comes at a price.
Last fortnight, State Bank of India Chairman C S Setty lifted the veil on a subject long spoken of in corporate corridors: Why can't our banks finance mergers and acquisitions (M&As)? Change is in the air: Indian Banks' Association (of which Setty is the chairman) is to "make a formal request" to Mint Road to make way for it. Thus far the exclusive turf of foreign banks even though its funding remains offshore - as in, it's not on these entities rupee-book (and a few select shadow banks) - a most lucrative segment in the investment banking suite, M&As, will be homeward-bound.
'In this age of competition, we will not survive long if we do not provide quality service to our consumers'
By 10 am, Rakshit N Jagdale is already deep into the rhythm of the day, which promises to be a carousel of meetings, calls, and strategic decisions. As managing director of Amrut Distilleries, he balances ritual and ambition, tradition and transformation, like many other legacy players in India's alcoholic beverages sector who are staring at a rosy future.
The Supreme Court is hearing arguments regarding a presidential reference on whether fixed timelines can be imposed on governors and the president for acting on bills passed by state legislatures. The court is considering objections to the maintainability of the reference under Article 143 of the Constitution.
Concerned over the rise in mis-selling of products by banks and non-banking financial companies (NBFCs), the Reserve Bank of India (RBI) is examining whether to come up with norms to curb such practices. Observing that pushing financial products, such as insurance, indiscriminately to unaware consumers may be detrimental to their well-being, RBI Deputy Governor M Rajeshwar Rao said, "We are examining whether it necessitates framing of guidelines to address mis-selling of financial products and services by REs (regulated entities)."
The Supreme Court of India dismissed a plea seeking a directive for 100% manual counting of Voter Verified Paper Audit Trail (VVPAT) slips in addition to electronic counting. The court cited its previous rulings on the safety and security of Electronic Voting Machines (EVMs) and stated that the issue was not open for reconsideration. The plea argued for a modified VVPAT system where voters could verify printed ballots before leaving the polling station, and for 100% manual counting of VVPAT slips. The court upheld the Delhi High Court's decision dismissing the plea, referring to previous Supreme Court judgments on the matter.
Mint Road, on December 21, 2023, flagged the role of self-regulatory organisations (SROs) in strengthening the compliance culture in regulated entities (REs) and providing a consultative platform for policymaking. It also decided to issue an omnibus framework for SROs.
Notably, the deal was earlier set to take effect on Sunday, January 19, at 08:30 (local time).
The sudden and surprising announcement by Anderson comes within days of a Republican Congressman, a member of the House Judiciary Committee, asking the Department of Justice to preserve all the documents and communications related to the investigations of Adani and his companies.
The Reserve Bank of India (RBI) has updated Know Your Customer (KYC) norms for politically exposed persons (PEPs) who transact with regulated entities (REs), seeking to comply with the recommendations of intergovernmental organisation Financial Action Task Force (FATF). PEPs are individuals entrusted with prominent public functions by a foreign country, including the heads of states/governments, senior politicians, senior government or judicial or military officers, senior executives of state-owned corporations and important political party officials, said the RBI. This change is expected to provide more clarity to undertake Customer Due Diligence (CDD), said the RBI in a communication to REs.
Bollywood actresses are celebrating Diwali with gorgeous fashion moments.
In FY24, loans given out by such firms had topped a whopping Rs 146,517 crore, up by 49 per cent year-on-year and spread over 10.19 million accounts (up 35 per cent).
Activist short-seller Nathan Anderson, known for his high-profile campaigns against the likes of Adani Group, said he is closing his firm, Hindenburg Research, not because of any threat -- legal or otherwise -- and that he stands by all its reports.
'So, we would work with our members to ensure that we as an SRO create some sort of due diligence for fintechs.'
'After a long time, we have a governor who is approachable. The RBI's interactions with us are now much better.'
A 34-year-old Indian-origin Israeli soldier has been killed during fighting in Hamas-ruled Gaza Strip this week, according to the community members.
In the Union Budget for Financial Year 2023-24 (FY24), Finance Minister Nirmala Sitharaman had held forth on the need for better governance and investor protection in the banking sector. She had proposed certain amendments to the Reserve Bank of India Act (RBI Act), 1934; the Banking Regulation Act (BR Act), 1949; and the Banking Companies (Acquisition and Transfer of Undertakings) Act, 1970.
The Reserve Bank of India (RBI) has sought granular data from select non-banking financial companies (NBFCs) on their loan book growth. The details sought are on the outstanding product-wise portfolio and the annualised interest charged on them. The annualised interest slabs mentioned are as follows: less than 10 per cent, 10-20 per cent, 20-30 per cent, 30-40 per cent, 40-50 per cent, and above 50 per cent.
An RBI-appointed panel on Monday recommended hosts of customer-centric initiatives for banks, including online settlement of claims by heirs of deceased account holders, flexibility for submission of life certificates by pensioners and a centralised KYC database. The report of the Committee for Review of Customer Service Standards in RBI Regulated Entities (REs) has also suggested that the operations of accounts should not be stopped pending periodic Know Your Customer (KYC) updates. It recommended that there should be a time limit for the return of property documents to borrowers after the closure of the loan account, failing which a penalty should be imposed on the lender.
Meir was serving in the 551st Brigade's 697th Battalion. Four soldiers of the battalion, including Meir, were killed in the incident on November 10.
'Das is friendly, but he finally does what he does. The quality of engagement is very good.'
The banking regulator was uncomfortable with the runaway pace at which consumer credit was growing.
In a coalition era, the smallest of parties gets almost blackmail power and that power is in direct proportion to the weakness of the senior coalition partner. Which is why, for instance, even in an era of coalitions, Atal Bihari Vajpayee was a lot more powerful than Manmohan Singh is.
The Reserve Bank on Tuesday directed digital lending entities to disclose upfront the names of of their empanelled agents authorised to contact borrowers in case of default of loan, and also intimate the details to customers before initiating the recovery process. In August last year, the RBI had tightened norms for digital lending to prevent charging of exorbitant interest rates by certain entities and also check unethical loan recovery practices. Under the new norms, all loan disbursals and repayments are required to be executed only between the bank accounts of borrower and the regulated entities (like banks and NBFCs) without any pass-through/ pool account of the Lending Service Providers (LSPs).
A Division Bench of Justice N Kotiswara Singh and Malashri Nandy in a recent order, passed on a set of 12 petitions, stated that the principle of 'res judicata' (meaning that once the matter has been decided it cannot be reopened by the same parties), was applicable to the Foreigners Tribunals in the state.
