The highest number of frauds was reported under the card, Internet, and digital payments categories in FY24 and FY25. 'Advances' accounted for the largest share (85.5 per cent) in FY26.
India's banking system is grappling with a persistent liquidity surplus exceeding Rs 5 trillion, driven by significant government spending and bond redemptions, leading market participants to anticipate the Reserve Bank of India will step up Variable Rate Reserve Repo operations to manage the excess funds.
The Reserve Bank of India (RBI) has mandated that banks must dispose of immovable assets acquired against bad loans within seven years through public auction, effective October 1, 2026, and has also barred their sale back to the original borrower or related parties.
The biggest challenge to widespread deployment is no longer AI. It is the financial and commerce infrastructure that was built decades ago for deterministic software and human interactions -- not autonomous AI agents.
A special CBI court in Mumbai has convicted a retired bank manager and nine others in connection with a 2004 loan fraud case, sentencing them to prison terms ranging from one to five years.
India's foreign exchange reserves increased by USD 938 million to USD 682.321 billion during the week ended May 28, according to the Reserve Bank of India, following a previous week's drop.
S&P Global Ratings projects India's economic growth to slow to 6.6 per cent in FY27, down from 7.7 per cent in FY26, citing energy stress and a potential sub-par monsoon.
The Reserve Bank of India's Financial Stability Report indicates that the interim peace deal between the US and Iran has favourably shifted the balance of risks, reducing headwinds from the West Asia conflict. However, it cautions that exchange rate volatility could increase if crude oil prices spike due to delayed normalisation of supply chain disruptions.
In the draft norms issued last month, the RBI said that the ultimate responsibility for the bank's performance, conduct and control rests with the Board
'The market is currently neither cheap enough to be exciting about nor expensive enough to worry about.'
The Reserve Bank of India (RBI) reported a significant 52 per cent year-on-year increase in gains from foreign exchange transactions, reaching 1.69 trillion in FY26. This surge occurred despite the central bank selling a gross $195 billion in the spot market to manage rupee volatility, which saw a 9.85 per cent depreciation.
The Lok Sabha has passed a Bill to amend the Payment and Settlement Systems Act, 2007, authorising the government to permit banks and service providers to levy charges on UPI and other electronic payment modes. This move aims to create a sustainable revenue model for the digital payments ecosystem, shifting from the current exemption of UPI transactions from such charges.
The Reserve Bank of India has imposed a penalty of Rs 41.8 lakh on Canara Bank for non-compliance with KYC norms and incorrect account classification, and Rs 3.1 lakh on Puran Associates Pvt Ltd for asset classification violations.
'After that the burdens of an ageing population will be upon us, and the share of working age population will shrink.'
The primary objective of introduction of polymer notes was to increase its life and not to combat counterfeiting.
India Ratings and Research predicts the Reserve Bank of India (RBI) will maintain the repo rate at 5.25 per cent throughout FY27, despite potential inflationary pressures from higher fuel prices, with inflation expected to remain within the central bank's tolerance band.
'The MPC is likely to prioritise the key mandate, which is inflation, while relying on other instruments to stabilise the currency and bond markets.'
Recognising the growing use of AI/ML models by regulated entities across business and decision-making processes, the RBI said weaknesses in governance, oversight, risk management, and controls could expose institutions to financial, operational, compliance, and reputational risks.
The Reserve Bank of India (RBI) and the central government have introduced a package of measures, including tax exemptions for FPIs on government securities and a concessional foreign-exchange swap facility, aiming to attract up to $50 billion in foreign capital. This initiative is designed to strengthen India's balance of payments and potentially cover the projected BoP gap for FY27.
Chief Economic Advisor V Anantha Nageswaran stated that India's economy is projected to return to a 7 per cent-plus growth trajectory by 2027-28 (FY28), or sooner if external conditions improve, despite near-term challenges from the West Asia crisis.
Authorised push payment frauds have emerged as a growing challenge globally as scammers increasingly rely on social engineering techniques to persuade users to transfer money voluntarily, making recovery more difficult even when transactions are authenticated.
India's foreign exchange reserves saw a significant drop of USD 8.094 billion, settling at USD 688.894 billion for the week ending May 15, as the Reserve Bank of India intervened in the forex market and global events like the Middle East conflict impacted the rupee.
The case for long-term investment in gold, however, remains intact.
Gold and silver are expected to remain volatile with a corrective bias as investors assess the latest flare-up in the US-Iran conflict, movements in crude oil prices, and inflation data, which could reshape expectations for global interest rates, according to analysts.
India's foreign exchange reserves saw a significant drop of USD 7.511 billion, settling at USD 681.384 billion for the week ending May 22, as the Reserve Bank of India intervened in the forex market due to rupee pressure and the lingering effects of the Middle East conflict.
The Indian government has informed the Lok Sabha that the income-tax return (ITR) e-filing portal is functioning in a 'largely stable and efficient manner' despite a significant increase in traffic during the peak filing season. However, it acknowledged transient technical issues and disclosed that contractual penalties have been imposed on Infosys for project delays and service-level agreement failures.
The Public Examination (Prevention of Unfair Means) Amendment Bill, 2026, passed by the Lok Sabha, introduces significantly stricter punishments for individuals and organised groups involved in paper leaks and other unfair means in public examinations. The legislation aims to enhance the integrity of exams conducted by various central government agencies.
The Reserve Bank of India (RBI) has granted approval for UAE-based Emirates NBD (ENBD) PJSC to acquire up to a 74 per cent stake in RBL Bank for $3 billion, marking the largest foreign investment ever in a domestic Indian bank.
India's foreign exchange reserves saw a significant increase of USD 6.295 billion, reaching USD 696.988 billion for the week ending May 8, as reported by the Reserve Bank of India.
The Indian banking system's net liquidity surplus has reached a four-year high of Rs 4.57 trillion, driven by maturing government securities, with further maturities expected to push the surplus to around 5 trillion.
A tribal woman walked nearly 3 km carrying her 90-year-old mother-in-law on her back to a bank to collect the latter's Rs 500 monthly pension, pending for four months due to incomplete KYC (Know Your Customer) formalities, in Chhattisgarh's Surguja district.
The net liquidity surplus in the banking system fell to Rs 16,875 crore on Thursday the latest data by the Reserve Bank of India (RBI) showed, lowest since 22 January.
Global investment firm KKR remains optimistic about India's long-term growth, citing rising incomes, premiumisation, financial deepening, and demand for quality services as key drivers for its consumption story, even as higher energy prices and AI disruption pose near-term challenges.
President Droupadi Murmu has given her assent to the Public Examinations (Prevention of Unfair Means) Amendment Bill, 2026, which introduces fast-track courts and significantly enhances punishment for those involved in public examination question paper leaks.
Foreign Portfolio Investors (FPIs) have withdrawn over Rs 62,853 crore from Indian equities in the first fortnight of June, bringing the total outflows for 2026 to Rs 2.87 lakh crore, surpassing the entire 2025 figure, driven by geopolitical tensions, global economic growth concerns, and a weakening rupee.
Divestment has emerged as a priority for the government following a moderation in direct tax collections.
Customers must report the fraud both to their bank and to the National Cyber Crime Reporting Portal or Helpline 1930 within five calendar days of the occurrence of the fraudulent transaction.
RBI Governor Sanjay Malhotra stated that the central bank is closely monitoring whether the supply shock from the West Asia conflict will lead to a generalised price rise, potentially necessitating monetary policy action.
In essence, Tata Sons will continue to be a CIC, whether registered or unregistered. It will have to follow the 90:60 principle.
If it qualifies as belonging to the upper layer, public listing will be one of the regulatory requirements. However, if it qualifies as 'unregistered CIC', it will escape from prudential regulation, explains Tamal Bandyopadhyay.
The Reserve Bank of India (RBI) reported a 5.7 per cent increase in counterfeit currency notes detected in the banking system during 2025-26, with fake Rs 500 notes showing the sharpest rise, becoming the most detected denomination.
