Russian President Vladimir Putin has proposed a new investment platform, based on the New Development Bank (NDB), to fund projects in trade, infrastructure, logistics, and technology across BRICS nations, emphasising that the grouping's expanding economic cooperation is not 'against anyone' but aims to advance members' national interests.
Reserve Bank of India (RBI) Deputy Governor Rohit Jain has warned that financial institutions' increasing reliance on a small number of common technology providers, including cloud and AI model providers, could create a new source of systemic risk. He highlighted 'speed, concentration and opacity' as key risks, noting that a disruption at one provider could rapidly spread across multiple institutions, amplifying existing financial risks.
The Reserve Bank of India (RBI) is planning to extend tokenisation to various financial asset classes, building on its successful trials with certificates of deposit (CDs). This move aims to enhance the efficiency of issuance, trading, and settlement of financial assets, leveraging blockchain technology and wholesale Central Bank Digital Currency (CBDC) for atomic settlements.
The Securities and Exchange Board of India (Sebi) is set to expand its artificial intelligence (AI)-based surveillance beyond trading data to include corporate filings, aiming to proactively flag financial misstatements and manipulation in quarterly results without relying solely on investor complaints.
RBI Deputy Governor Rohit Jain highlighted that banks are well-positioned to deploy $133 billion mobilised through FCNR(B) deposits, especially with strong credit demand ahead of the festival season, while also stressing the importance of robust technology governance and cyber defences in the financial sector.
Fintech giant PhonePe has launched 'PhonePe UPI 123Pay', a new service enabling UPI transactions for feature phone users without requiring an internet connection. This initiative aims to bring digital payment capabilities to over 200 million feature phone users, promoting financial inclusion across India.
The Securities and Exchange Board of India (Sebi) is set to undertake a comprehensive overhaul of the small and medium enterprise (SME) listing framework and tighten accountability around the use of artificial intelligence (AI) and machine learning (ML) in financial markets, Sebi Chairman Tuhin Kanta Pandey announced.
Foreign portfolio investors (FPIs) significantly increased their buying in Indian equities during the first half of August, with financial services attracting the largest inflows, reversing previous outflows. The IT sector also continued to see strong interest from overseas investors, driven by a reassessment of valuations and the role of Indian IT firms in AI deployment.
Chief Economic Advisor V Anantha Nageswaran has stressed the urgent need for India's financial sector to proactively address the safety and security risks of artificial intelligence, stating that waiting for problems to materialise is not an option.
High-performance computing server maker Netweb Technologies reported a more than twofold increase in net profit to Rs 85.32 crore for the first quarter ended June 30, 2026. This significant growth was primarily driven by its AI Systems segment, which contributed over 62% of the revenue. The company also saw its revenue from operations more than double to Rs 819.6 crore, reflecting strong demand and disciplined execution, with a robust order book of Rs 2,507 crore.
BRICS members have expressed 'serious concerns' over the unilateral imposition of trade and finance-related measures, including higher tariffs and non-tariff barriers, stating these actions distort trade and are inconsistent with WTO rules. The grouping also highlighted elevated risks to the global economic outlook due to geopolitical tensions, trade fragmentation, and protectionism.
United States Treasury Secretary Scott Bessent has warned that Iranian airlines could be effectively shut out of international travel from Wednesday, September 23, as Washington threatens secondary sanctions against foreign companies that continue providing services to Iran's carriers.
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.
The portfolio could be split between listed and unlisted investments, or structured along sectoral lines.
Even as uncertainty continued to hamper the financial sector, these companies tided over the difficult times.
J R D Tata, chairman of the Tata group from 1938 to 1991, said that whenever he had to make a difficult decision, he would ask himself, what will be good for India, and what will be good for the Tatas. If he had a doubt, he would decide in favour of India. In the long run, it would turn out well for the Tatas too, he said, points out Arun Maira.
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 UK has successfully test-fired a US torpedo from an undersea drone, marking a significant advancement in submarine technology for the AUKUS partners (UK, US, Australia). This development coincides with Prime Minister Andy Burnham's visit to the UN General Assembly, where he is discussing global challenges like AI, the Ukraine conflict, and West Asia security with international leaders, and announced the UK will host the G20 Leaders' Summit in Manchester next November.
The Indian government has made Bureau of Indian Standards (BIS) certification compulsory for smartphone screen protectors, effective April 1, 2027. This move aims to ensure product quality, curb low-quality imports, and significantly boost domestic manufacturing, creating a substantial industry and job opportunities.
Search engine major Google will also start sharing details of child sexual abuse cases and repeat offenders with the cybercrime division of the Indian Cybercrime Coordination Centre (I4C) of the Ministry of Home Affairs.
Industry leaders at an AIMA panel discussion emphasised the need for businesses to quickly adapt to changing market conditions and invest in technologies like artificial intelligence to build resilience and achieve long-term growth. They highlighted the current era of uncertainty driven by geopolitical tensions, supply chain disruptions, and rapid regulatory changes, stressing that tactical responses are as crucial as long-term strategy.
Queen Maxima of the Netherlands, the UN Secretary-General's Special Advocate for Financial Health, visited Mumbai to understand India's digital public infrastructure, including UPI and AI, in improving financial health for salaried individuals. She interacted with healthcare professionals and SalarySe leaders, praising India's advancements in financial inclusion and technology's role in empowering individuals.
Airtel Africa's mobile payments arm, Airtel Money, has filed for an initial public offering (IPO) on the London Stock Exchange, with the International Finance Corporation (IFC) agreeing to purchase shares worth up to $90 million at the final offer price.
A joint report by Dell Technologies and Zinnov reveals that despite high ambition, nearly 70% of India's Global Capability Centres (GCCs) are stuck at the pilot stage for AI adoption. Foundational gaps in data, infrastructure, and governance are identified as key bottlenecks preventing the scaling of AI initiatives into enterprise-wide production. The report highlights the need for significant reskilling of the workforce and robust foundations for industrialising AI responsibly.
Union Communications Minister Jyotiraditya Scindia announced India's ambition to lead the world in 6G mobile technology and become a designer of global technology standards. Speaking at the Global Fintech Fest 2026, Scindia highlighted India's shift from being a technology market to a technology maker, emphasizing progress in 5G rollout, affordable data, and digital infrastructure driving fintech growth, while also stressing the importance of digital security.
TRAI Chairman Anil Kumar Lahoti has called for robust safeguards, human oversight, and intervention capabilities as Artificial Intelligence becomes increasingly integrated into telecom networks. While acknowledging AI's potential to transform network management and threat detection, Lahoti stressed the need for responsible AI deployment, risk assessments, and clear accountability to ensure consumer trust and prevent misuse, especially in combating online fraud.
Finance Minister Nirmala Sitharaman has called upon Indian industry to prioritise not just scale but also resilience, better governance, and deeper technological capabilities to achieve the 'Viksit Bharat' goal by 2047.
FATF Vice-President Vivek Aggarwal has urged the fintech industry to increase investments to combat emerging threats from AI, scam compounds, virtual digital assets, and quantum computing. He warned that these technological challenges pose a significant risk to India's rapid growth in the fintech sector, highlighting a current lack of adequate investment and risk realisation within the industry.
Gaganyaan astronaut Prasanth Balakrishnan Nair stressed the critical importance of AI sovereignty for national cybersecurity, citing the increasing difficulty in distinguishing between real and fake content due to AI. Speaking at the Kerala Cyber Suraksha Summit, Nair highlighted that future conflicts and industries would involve a 'whole-of-nation approach,' blurring physical and digital boundaries. He urged greater awareness of digital threats and emphasised India's need to build on its technological capabilities in AI and cybersecurity, drawing parallels with the success of Chandrayaan-3. Other speakers also underscored the rising threat of cyberattacks and the potential for Kerala to contribute to national technology requirements.
The Reserve Bank of India (RBI) has proposed a standard operating procedure (SOP) for banks to implement temporary debit holds on accounts or transactions suspected of being involved in money-mule activity and cyber-enabled financial fraud, with a maximum duration of 60 days.
RNFI Services Ltd has received in-principle authorisation from the Reserve Bank of India (RBI) to operate as a Payment Aggregator - Physical (PA-P). This approval allows the company to expand its financial infrastructure into physical, offline, and in-store payments, complementing its existing regulated financial services portfolio.
Foreign institutional investors have withdrawn nearly $40 billion from Indian equities in the last two years and, according to Bernstein analysts, have 'little reason' to invest for the long-term, though they may 'return to trade'. The brokerage highlights challenges such as struggling large-caps, disruption from new technologies, and difficulties accessing small- and mid-caps (SMIDs) at an institutional scale.
PhonePe, at the Global Fintech Fest 2026, unveiled its strategic vision for the next decade, focusing on inclusive digital progress for individuals, households, and businesses across India. The roadmap details innovations in financial inclusion, wealth creation, credit access, and merchant solutions.
Arundhati Bhattacharya, Salesforce President and CEO for South Asia, stated that cloud and AI are democratising capabilities, offering India a unique opportunity to leapfrog in technology. Speaking at the IMC Chamber of Commerce, she emphasised that AI will create more jobs and urged Indian businesses to transform using technology, rather than merely digitising. She also highlighted the significant economic potential of AI adoption for India.
InsuranceDekho and RenewBuy have merged to establish India's largest artificial intelligence (AI)-enabled insurance distribution platform, targeting a significant premium book and extensive reach across the country.
South African President Cyril Ramaphosa on Friday described BRICS as an important global forum, highlighting the grouping's growing demographic and economic weight and noting that its members account for around half of the world's population and 40 percent of global GDP.
Shailesh Chandra, MD and CEO of Tata Motors Passenger Vehicles (TMPV), stated that the uncertainty surrounding how long commodity costs will remain elevated is a greater concern for the company than the actual price increases. He noted that commodity prices have risen significantly over the past five to six months, impacting margins and necessitating faster cost-reduction efforts, though no major production or supply-side issues are currently foreseen.
India is actively integrating payment system harmonisation into its Free Trade Agreement (FTA) negotiations, especially with countries hosting a large Indian diaspora. This strategy aims to leverage India's growing fintech ecosystem, facilitate cross-border financial services, and position India as a global hub for financial services exports, particularly through platforms like GIFT City.
Salesforce executives, including South Asia CEO Arundhati Bhattacharya, predict a significant shift in India towards wider enterprise AI adoption, moving from experimentation to production deployments. The company plans to invest in physical infrastructure and talent upskilling in India. Salesforce's vision for the "agentic enterprise" involves a four-layer architecture, emphasising the need for robust security and governance for autonomous agents. Executives also highlighted the evolving nature of jobs, with AI handling repetitive tasks and creating new specialised roles, positioning India as a potential leader in agentic innovation by 2030.
Chief Election Commissioner Gyanesh Kumar is facing significant scrutiny after an investigation revealed objections from his fellow election commissioners, Sukhbir Singh Sandhu and Vivek Joshi, regarding decisions made during the Special Intensive Revision of voter lists. The objections, reportedly made at least 14 times, concerned issues like changes to voter registration forms and centralised control over electoral roll databases, intensifying criticism of Kumar's tenure and the EC's impartiality.
