The Unified Payments Interface (UPI) has completed a decade since its launch, becoming the backbone of India's digital payments ecosystem. It has seen exponential growth in transaction volume and value, expanding financial inclusion and setting a global benchmark for real-time payments.
State Bank of India's latest report highlights a 'chalk and cheese' divide in the Reserve Bank of India's recent policy communications, with the Monetary Policy Committee minutes showing a hawkish tone while the Governor's statements are more data-dependent, leading to market uncertainty regarding future interest rate hikes.
The Calcutta High Court has extended interim protection for TMC MP Abhishek Banerjee until November 30, directing police not to take coercive steps in three criminal cases, stating that custodial interrogation is not necessary.
Indian benchmark equity indices, Sensex and Nifty, closed lower due to persistent geopolitical tensions in the Middle East and elevated crude oil prices, with investors remaining cautious ahead of fresh US sanctions on Iran.
Indian benchmark indices Sensex and Nifty extended their winning streak to a fourth consecutive day, driven by strong buying in blue-chip bank stocks and a decline in global crude oil prices. Fresh foreign fund inflows also contributed to the optimistic sentiment in the domestic equity market.
India has removed a key regulatory hurdle, allowing exporters to receive payments in Indian currency while retaining incentives under the country's foreign trade policy, a move aimed at promoting wider use of the rupee in international trade.
Reserve Bank Deputy Governor S C Murmu has highlighted the "cash paradox" where currency in circulation continues to grow despite a significant increase in digital payments. This trend complicates the RBI's forecasting and planning for currency production and distribution, prompting the central bank to seek solutions and explore ways to extend banknote life and reduce the carbon footprint of the cash cycle.
The combined market valuation of five of India's top-10 most valued firms eroded by Rs 1 lakh crore last week, with IT giant Tata Consultancy Services (TCS) experiencing the largest decline amidst a bearish trend in domestic equities.
Making several announcements in the assembly, Vijay, fulfilling TVK's key electoral assurances, announced three free cooking gas cylinders and also declared that the Parandur greenfield airport project will be shelved.
Indian benchmark indices, Sensex and Nifty, closed lower on Wednesday, reversing early gains due to profit-taking and weakness in sectors like IT, FMCG, and consumer durables, despite support from lower crude oil prices.
Indian benchmark indices, Sensex and Nifty, recovered intraday losses to close higher, driven by late-day buying and a significant decline in Brent crude oil prices, which fell 3 per cent to USD 89.32 per barrel.
The Reserve Bank of India (RBI) has prematurely closed its swap facility for foreign currency non-resident (bank) deposits, FCNR(B), one month ahead of schedule, after banks mobilised $52.3 billion under the scheme by August 13, indicating sufficient foreign currency reserves.
Indian benchmark equity indices, Sensex and Nifty, traded marginally higher in early deals despite cautious global cues stemming from elevated crude oil prices due to geopolitical uncertainties and a sharp fall in US markets. Track Sensex, Nifty on August 21, 2026.
RBI Deputy Governor Rohit Jain discussed the future of India's foreign exchange markets, highlighting the increasing role of local currencies in cross-border trade, the impact of technology, and existing challenges. He emphasised the need for market evolution to facilitate India's global engagement, absorb shocks, and serve all users efficiently. Jain also addressed concerns about unauthorised forex trading platforms and the importance of customer awareness.
ICICI Bank, India's second-largest private-sector lender, is set to raise approximately $500 million through an overseas dollar bond issuance, marking its first such move in nearly a decade. This fundraising effort will utilise the Reserve Bank of India's (RBI) concessional swap window, a facility designed to reduce hedging costs for foreign currency borrowings.
The Enforcement Directorate has frozen bank deposits of the Trinamool Congress worth Rs 440 crore under the anti-money laundering law. This action follows searches in a funds misappropriation case, with allegations of significant transfers to a private aviation company and the purchase of luxury aircraft.
A widow in Kanpur has alleged that jewellery worth approximately Rs 50 lakh vanished from her State Bank of India (SBI) locker, leading police to register an FIR against the branch manager and unidentified staff members. The complainant, Rashmi Arora, discovered the locker empty after a period of non-operation and a bank merger.
The scholarship is open to students from Classes 1 to 12, as well as those pursuing their diploma, ITI, polytechnic, undergraduate and postgraduate courses, including both general and professional programmes.
Nepali security forces have intensified search and rescue operations across the flood-hit areas, using helicopters and ground teams to evacuate survivors and search through mud and debris.
The operation remains challenging as destroyed roads and bridges have cut off several remote communities, while hundreds of people are still missing.
Indian benchmark equity indices, Sensex and Nifty, rebounded after a two-day losing streak, driven by strong buying in blue-chip IT stocks and positive global market cues, with the Sensex climbing 330.92 points.
Whether it's a five-star banquet hall, a school lunch supplier, a blood bank, or a Bollywood actors' surrogate advertisements, Tukaram Mundhe seems to have an opinion, a bye-law, and very possibly an inspection team on standby.
Foreign Portfolio Investors (FPIs) have significantly increased their investment in Indian equities, infusing Rs 23,544 crore in August, driven by improving quarterly earnings, a stable rupee, and positive market prospects.
State-owned Bank of Baroda (BoB) has agreed to pay $600 million (about 5,700 crore) to settle litigation arising from the collapse of NMC Health, ending years of cross-border legal proceedings.
India's banking system liquidity has fallen into a deficit for the first time in nearly three months, prompting the Reserve Bank of India (RBI) to inject 1.41 trillion through a seven-day variable rate repo (VRR) auction to ease the temporary tightness.
India's foreign exchange reserves saw one of their largest weekly expansions, surging by USD 14.136 billion to reach USD 707.002 billion during the week ended August 7, according to the Reserve Bank of India.
Six individuals, including the alleged mastermind and a website developer, have been arrested for operating a sophisticated fake airline job racket. The fraudsters used social media ads and fake websites to solicit fees for aviation diplomas, promising jobs at Indira Gandhi International Airport, and duped numerous job seekers before being caught.
Indian golfer Diksha Dagar has dropped out of the Top 10 in the Ladies European Tour (LET) Order of Merit, now ranking 11th after missing the cut at the VP Bank Swiss Ladies Open. Other Indian golfers like Pranavi Urs, Avani Prashanth, and Aditi Ashok also feature in the rankings.
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.
Vice President CP Radhakrishnan launched Gnani Artha, an end-to-end sovereign AI stack for Indian enterprises and public institutions. He emphasised that new technologies, including AI, will enhance ease of work and create more jobs, drawing parallels with the IT industry's growth. The initiative, backed by the India AI Mission, aims for self-reliance and includes the Gnani Evon v3.3 language model and Gnani Plexus AI platform, offering cost-effective Indic language capabilities.
Vice President CP Radhakrishnan launched Gnani Artha, an end-to-end sovereign AI stack for Indian enterprises and public institutions. He emphasised that new technologies, including AI, will enhance ease of work and create more jobs, drawing parallels with the IT industry's growth. The initiative, backed by the India AI Mission, aims for self-reliance and includes the Gnani Evon v3.3 language model and Gnani Plexus AI platform, offering cost-effective Indic language capabilities.
The Enforcement Directorate has attached assets worth approximately Rs 112.90 crore, including a residential property in Texas, USA, in a money-laundering case. The case involves a Noida-based air-conditioner components manufacturer, LEEL Electricals Limited, and its promoters, accused of defrauding a consortium of banks led by SBI of Rs 376 crore through manipulated financial statements and siphoning off funds.
Delhi Police have arrested seven individuals, including a former bar singer and an ex-banker, for allegedly posing as CBI officers to conduct fake raids and extort money or valuables in Delhi and Mumbai. The gang reportedly used fake ID cards and notices to intimidate targets.
Arunachal Pradesh Chief Minister Pema Khandu highlighted that the success of UPI, which handles nearly half of the world's real-time digital transactions, stems from a collaborative ecosystem including financial inclusion, digital identity, and affordable internet. He attributed this digital payments revolution to the vision of PM Narendra Modi.
Gujarat CID has arrested Rafiqul Alam, the alleged 'mastermind' behind 1,090 cybercrimes totalling Rs 1,071.5 crore, who was found to have links with China-based criminals and converted illicit funds into cryptocurrencies.
Nepal's devastating flash floods have created a worrisome flood situation in Bihar.
A training aircraft operated by Garg Aviation crashed in Kanpur, Uttar Pradesh, killing a trainee pilot and an instructor. The Tecnam aircraft went down near Nathapurwa village shortly after take-off. Authorities, including the DGCA, are investigating the cause of the fatal accident.
The asymmetry in deposit and credit growth is the biggest challenge before the Indian banking industry. For every 100 deposit that a bank mobilises, it needs to keep 3 with the banking regulator in the form of cash reserve ratio on which it doesn't earn any interest. Another 18 is used for buying government bonds (statutory liquidity ratio). This means, a bank is left with 79 for giving credit. Add to this, its capital which can be used for giving loans. Most banks are facing a fund crunch. They need to find ways to attract deposits if they want to sustain credit growth, explains Tamal Bandyopadhyay.
A new book, "The River That Remembers: Microbial Intelligence of Nature" by Padma Shri awardee Ajai Kumar Sonkar, claims that the Triveni Sangam at Prayagraj is a unique viral-bacterial laboratory. It suggests that the sacred dips taken by devotees lead to an intense microbial exchange, accelerating phage evolution, especially during events like Kumbh Mela, as diverse human microbiota interact with the river's existing microbiome.
A data breach does not end when the headlines fade. For victims, stolen personal information can fuel fraud, identity theft and financial losses for years.
Five friends from Raipur, Chhattisgarh, narrowly escaped being swept away by flash floods in Nepal's Bhote Koshi and Trishuli river valleys thanks to an impromptu tea break. They endured two tense days on higher ground, witnessing devastation, before returning home safely, with a poignant Raksha Bandhan moment providing comfort.
