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review and reset of their engagement terms with fintech firms, driven by the Reserve Bank of India's (RBI) draft Guidance on Regulatory Expectations for Data Governance and the stringent compliance requirements of the Digital Personal Data Protection (DPDP) Act, 2023, and its 2025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.
Nandan Nilekani, head of the task force on exam reforms, stated on Tuesday that technology and a systematic approach can solve the issue of question paper leaks. He suggested generating exam papers from a large question bank at the last minute to remove economic incentives for leaks and also proposed moving towards computer-based testing.
'Existing borrowers who have surplus cash should make partial loan prepayments to offset the impact of rising EMIs and reduce the overall interest burden.'
Gurugram police have arrested two individuals, Nirmal Kumar and Gopi Kumar Yadav, for their involvement in a cyber-fraud scheme. The gang allegedly duped people by sending fake HCG bill messages and using malicious APK files to steal Rs 1,64,900 from a complainant's bank account. The arrested associates were responsible for fraudulently obtaining and supplying SIM cards used in the crime.
Indian benchmark indices Sensex and Nifty saw a significant rebound in early trade, with the Sensex surging over 700 points, driven by a decline in crude oil prices, easing concerns over Federal Reserve tightening, and the appointment of Anup Bagchi as the new MD and CEO of HDFC Bank.
A man from Kochi has been arrested in connection with a 'digital arrest' scam that defrauded a retired judge in Rajasthan of Rs 2.5 crore. The accused allegedly threatened the judge with false links to hawala transactions and the Pulwama case, leading to his apprehension in a coordinated police operation.
The rise in loan sizes reflects both higher vehicle prices and a shift from entry-level cars to SUVs.
Indian benchmark indices Sensex and Nifty saw a sharp rebound in early trade, driven primarily by a rally in IT stocks and a decline in crude oil prices, even as global markets faced selling pressure due to US inflation concerns. Track Sensex and Nifty on
A 38-year-old woman in Thane district committed suicide after discovering her bank account was allegedly used in multiple cyber fraud cases across several Indian states, leading to immense anxiety and police questioning notices.
Panchkula police have busted a cyber-fraud gang, arresting two individuals, Manoj Kumar and Anil, for allegedly targeting elderly and less-educated people. The accused tricked victims into revealing ATM PINs, swapped their cards, and withdrew money. Police recovered 70 ATM cards, a POS machine, and mobile phones, with further investigation underway to identify other gang members and affected ATMs in Haryana and Delhi.
The goal is to ensure that your bank works for you, providing liquidity and convenience without charging you for the privilege of holding your own money.
"Pressure on the current account is a temporary problem. Sooner rather than later, our external sector will improve," said RBI Governor Sanjay Malhotra.
Lokayukta Police in Indore raided a head constable and his associates, uncovering properties worth approximately Rs 29.73 crore. The head constable, Firoz Khan, is accused of using his position to acquire disproportionate assets, significantly exceeding his legitimate income over 24 years of service. The investigation has identified 33 immovable properties, vehicles, bank accounts, and links to private companies.
Indian benchmark indices Sensex and Nifty saw a rebound in early trade, primarily driven by a more than 4 per cent surge in Tata Consultancy Services (TCS) shares following its robust Q2 net profit announcement. Track Sensex, nifty on October 9.
A graphic designer, Pankaj Gupta, was arrested by Mumbai Crime Branch for creating malicious Android Package Kit (APK) files that enabled cyber fraudsters to cheat over 9,600 people of Rs 150 crore. Gupta, who previously escaped a digital arrest scam, developed APKs disguised as government services, selling them to cybercriminal networks in Bihar and Jharkhand.
Indian stock markets closed lower, with the Sensex falling 429 points, after the Reserve Bank of India raised its benchmark interest rate for the first time in nearly four years, coupled with rising crude oil prices and persistent foreign fund outflows.
The CBI has registered a case against former Sashastra Seema Bal (SSB) assistant commandant Amit for alleged cross-border smuggling activities along the India-Nepal border. He is accused of establishing a nexus with smugglers, facilitating large-scale operations, and engaging in suspicious financial transactions during his posting in Sitamarhi.
India's retail inflation surged to 5.54 per cent in September, primarily due to a significant increase in onion and other food prices, remaining just within the Reserve Bank of India's tolerance band. This marks the highest inflation since the new series with base year 2024 took effect in January.
Reserve Bank of India Governor Sanjay Malhotra has stated that the rupee may be 'undervalued' by many estimates and assured that the RBI will work to ensure its stability and help it find its 'correct value' amidst recent depreciation.
Jio Platforms Ltd's (JPL) public offer, valued at Rs 30,213 crore, was fully subscribed within 100 minutes of opening, making it the fastest-ever subscribed IPO in India, driven by strong institutional demand.
The National Payments Corporation of India (NPCI) has deferred the implementation of a 0.4 per cent Merchant Discount Rate (MDR) on Person-to-Merchant UPI transactions above Rs 2,000. Originally set for October 15, the new date will be announced after Diwali, providing relief to users and merchants, especially during the festive season. The decision came amidst opposition concerns about the levy burdening consumers.
Nandan Nilekani, co-founder of Infosys, has urged for the expanded adoption of the Account Aggregator (AA) framework to facilitate formal credit access for self-employed individuals and gig workers. He highlighted its potential to enable cash-flow-based lending by leveraging diverse data streams, moving beyond traditional asset-based lending, and fostering a more inclusive digital financial infrastructure in India.
India has secured a spot among the top 10 leading emerging-market performers in artificial intelligence (AI) readiness, with private investment in AI more than tripling to USD 4.1 billion in 2025, according to a new World Bank report.
Indian benchmark stock indices, Sensex and Nifty, closed lower due to profit-taking, a spike in wholesale price-based inflation, and firm crude oil prices, despite some support from easing intraday crude oil prices and rupee appreciation.
Sir Dorabji Tata Trust has submitted its response to governance complaints filed by two trustees, with the Maharashtra charity commissioner expected to decide the next course of action.
Bank fraud is no longer just an external cyber threat -- insiders with legitimate access can exploit banking systems, trusted credentials and institutional blind spots to quietly siphon money.
Indian benchmark indices Sensex and Nifty experienced declines in early trade, ending a two-day rally, driven by a spike in Brent crude oil prices above USD 101 per barrel and investor caution ahead of the Reserve Bank of India's monetary policy decision. Track Sensex, Nifty on October 7.
A businessman in Ratlam was allegedly defrauded of Rs 55 lakh by cyber criminals posing as police officers. The fraudsters claimed his mobile number was linked to Pakistan's ISI and threatened legal action, coercing him to transfer funds. Three accused have been apprehended, and Rs 20 lakh of the defrauded amount has been blocked.
A Delhi court has rescinded a Look-Out Circular (LOC) against Akash Gupta, an accused in a Rs 247-crore Punjab National Bank fraud case, stating that the seriousness of an allegation cannot be the sole reason for its continued operation. The court noted Gupta's cooperation and previous adherence to travel conditions.
'It's not about individuals operating the mule accounts being more or less skilled. Instead, 'lower-level' refers to the role the individual account plays in the broader mule network.'
The Reserve Bank of India on Wednesday raised its policy repo rate by 25 basis points to 5.50 per cent, beginning a rate-hike cycle as rising inflation risks, elevated global yields and resilient domestic growth strengthened the case for tighter monetary policy. The decision by the Monetary Policy Committee marks a shift from its August policy, when it kept the repo rate unchanged at 5.25 per cent and retained a neutral stance while seeking greater clarity on the inflation outlook and growth-inflation balance.
Shabnam Sinha is set to take over as the Chairperson of Airtel Payments Bank for a three-year term starting October 1, 2026, succeeding Sunil Mittal, who concludes his tenure as non-executive Chairman.
'The Indian market has struggled over the past two years.' 'It peaked in September 2024, and although it has moved up and down since then, investors have not really made money.'
Indian benchmark indices, Sensex and Nifty, experienced a sharp decline at the close of trade, with the Sensex dropping 539 points and the Nifty falling below 24,100, primarily due to selling pressure in HDFC Bank and ongoing geopolitical uncertainties.
PFRDA Chairperson S Ramann announced an ambitious target to add 2-3 crore new subscribers to the National Pension System (NPS) within the next two years. This growth will be significantly driven by the new 'NPS Tatkal' scheme, which enables direct enrolment and contributions via UPI applications, making the pension system more accessible, especially in tier 2 and tier 3 cities and for the informal sector.
Choose a car loan that fits your budget, keeps EMIs manageable and saves you money on interest, not just one with attractive festive offers.
The Rajya Sabha has passed The Bankers' Books Evidence Bill, 2026, which aims to replace a British-era law and allow digital and virtual records to be admissible as evidence in courts. This legislation aligns with contemporary digital banking practices and extends a uniform evidential framework to various financial entities, including NBFCs and fintech companies. Finance Minister Nirmala Sitharaman highlighted the bill's role in strengthening public confidence and safeguarding customer privacy. The bill's passage, however, saw an Opposition walkout over unrelated issues.
A sophisticated cross-bank syndicate is systematically defrauding non-resident Indians (NRIs) and elderly citizens by exploiting their fixed deposits through forged documents and fictitious loans, often involving colluding bank employees and real estate deals.
Indian IT stocks have experienced their most significant weekly surge in 18 years, with the Nifty IT index climbing 11.72 per cent, as a global sell-off in AI-linked equities redirected investor attention towards India's IT services sector. This shift aligns with a JP Morgan report identifying India as a 'natural AI hedge' due to its large, liquid market and strong domestic institutional investor base.
The Ahmedabad Cyber Crime Branch has arrested two men from Rajasthan for allegedly defrauding people of Rs 8 lakh by selling fake garba event passes during Navratri. The accused used Instagram, forged email IDs, WhatsApp, and AI tools like ChatGPT to create authentic-looking tickets and promotional material, targeting around 40,000 people. They sold 686 bogus passes for various high-end events before being apprehended based on a complaint from a garba organiser.
