'In fact, when monetary policy has been deployed, it does not distinguish between types of shocks. It goes straight for the kill.'
RBI Governor Sanjay Malhotra stated that the central bank consistently views fintechs as 'valuable partners' in shaping India's future financial system, crediting the sector with expanding financial inclusion, enhancing customer experience, and streamlining credit delivery, particularly for MSMEs.
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.
RBI Deputy Governor Poonam Gupta stated that India's economic growth momentum remains strong despite various global and domestic shocks, attributing this resilience to a diversified growth base and improved policy responses. She highlighted the economy's 7.8 per cent growth in Q1 and continued momentum into Q2, suggesting potential upgrades to growth forecasts.
The Delhi High Court has upheld the Centre's decision to increase passport fees for Indians residing abroad, dismissing a petition that challenged the 67 per cent hike. The court ruled that the increase, implemented after 14 years, was not unreasonable or exorbitant and falls within the government's policy domain, warranting no judicial intervention. The petition, filed by Pravasi Legal Cell, argued that the higher fees disproportionately affect low-income Indian workers abroad.
'A balance had to be struck between the economic cost of taking action at this point against the need not to fall behind the curve in controlling inflation and anchoring inflation expectations.'
The Finance Ministry has dismissed allegations of US pressure influencing the 0.4% Merchant Discount Rate (MDR) on select UPI transactions. It clarified that NPCI guidelines prioritise RuPay credit cards on UPI and do not favour international cards. The ministry also asserted that the MDR, applicable to person-to-merchant transactions above Rs 2,000, is unlikely to increase cash transactions or cause inflation, with measures in place to prevent burdening consumers.
His remarks come amid a debate over whether Tata Sons, the holding company of India's largest conglomerate Tata group, is required to go public.
Unlimited health insurance plans offer a financial cushion against mounting medical bills, but buyers must look beyond the coverage amount and understand the fine print, including exclusions, waiting periods, and co-payments, before committing to the high premiums.
Delhi Police has arrested three men for operating an inter-state cyber fraud syndicate that targeted individuals, particularly in Tamil Nadu, by promising personal loans, insurance policies, and employment opportunities. The accused collected advance fees without delivering services, leading to a police investigation and arrests.
Buyers need to assess whether an OPD policy offers them enough usable benefits to justify the additional premium.
The Finance Ministry has refuted allegations that US pressure influenced the decision to levy a 0.4% Merchant Discount Rate (MDR) on select UPI payments. It clarified that NPCI guidelines prioritise RuPay credit cards on UPI to foster a domestic payment ecosystem and that the MDR introduction aims to create a sustainable revenue model for smaller domestic companies, thereby protecting India's sovereignty in digital payments.
TRAI has proposed a comprehensive draft framework for the responsible use of artificial intelligence in telecom networks. The guidelines mandate service providers to adopt board-approved AI policies, establish dedicated governance and safety committees, and report serious AI-related incidents to the regulator. Entities will be accountable for AI system outcomes, classify AI risks, ensure human oversight, and maintain inventories of all AI systems.
Delhi Police have dismantled a cyber-fraud network that operated from a moving SUV to avoid detection, arresting three individuals. The fraudsters allegedly cheated a victim of Rs 65,000 by posing as insurance refund processors and used mule bank accounts. The operation involved sophisticated methods to evade law enforcement.
The Union finance ministry has constituted a high-level committee, chaired by former Central Vigilance Commissioner Suresh N Patel, to recommend structural, regulatory, and legislative reforms for India's banking sector, aiming to make banks globally competitive and support the financing needs of a developed economy.
The RBI can slow the rupee's fall, but lasting stability depends on tackling the root causes of depreciation and attracting foreign investment.
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.
Premature surrender and withdrawal of life insurance policies in India have surpassed maturity payouts over the past five years, indicating a growing trend of policyholders exiting long-term policies before their full tenure, according to data presented in the Lok Sabha.
The IDBI Bank stake sale could generate over Rs 26,500 crore, helping the government surpass its annual divestment target, notes A K Bhattacharya.
The Reserve Bank of India's Monetary Policy Committee (MPC) has indicated that rate cuts are improbable in the near term, with headline inflation projected to reach 6 per cent in the third quarter. Minutes from the October meeting reveal growing concerns among members about inflation spreading beyond food and fuel, leading to a shift in policy stance towards calibrated tightening.
Indian stock markets are set to be influenced by a confluence of factors this week, including escalating geopolitical tensions, particularly concerns over US-Iran conflict, volatile crude oil prices, and the ongoing quarterly earnings season. Additionally, the US midterm elections, foreign investor activity, and key macroeconomic data releases will also be closely monitored by investors.
Buying a policy is only the beginning. Health insurance is a long-term commitment that needs regular review as your age, health needs and family circumstances change.
Experts cautioned that this headcount increase does not necessarily indicate a return of steady demand, which has evaded them over the last few years.
Indian stock markets witnessed a significant rally, with the Sensex soaring 905 points and the Nifty topping 22,900, primarily driven by strong buying in banking and FMCG shares, coupled with easing crude oil prices and a US Fed rate pause.
The Maharashtra government is setting up a ministerial task force, led by Minister Ashish Shelar, to ensure the effective implementation of its drone policy. Chief Minister Devendra Fadnavis announced this, emphasising the need for a "policy of policies" to integrate R&D, manufacturing, testing, and subsidies, and to strengthen the state's drone ecosystem, including developing a 'Drone City'.
The Haryana Congress has strongly criticised the BJP government's two-year tenure in the state, alleging widespread misgovernance, unfulfilled election promises, a surge in crime, and rampant corruption. Senior Congress leaders, including Bhupinder Singh Hooda and Kumari Selja, highlighted issues faced by farmers, traders, and youth, demanding accountability and a white paper on the government's performance.
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.
Here are nine lessons, one for each night of the Navratri festival, that can help any household think about protection clearly.
'Starting late isn't a financial death sentence -- it's just a call to action. You can't change your starting line but you have full control over how hard you run to the finish'
NITI Aayog has called for a fundamental overhaul of urban governance in India, advocating for empowered city governments, directly elected mayors with five-year terms, and greater financial autonomy for urban local bodies to manage the country's rapidly growing urban population.
Parthiv Patel turned down the opportunity to become the chairman of selectors, citing 'financial issues' related to the remuneration for the role compared to his existing commitments.
Maharashtra is grappling with an escalating drought crisis, with 305 talukas now declared drought-hit, prompting the state government to announce Rs 5,000 in financial aid for farmers before Diwali and extend comprehensive relief measures.
India's top shooters are set to compete in the ISSF World Championship in Doha, aiming to overcome their recent Asian Games disappointment and secure crucial qualification spots for the 2028 Los Angeles Olympics. The championship offers 36 quota places, making it a vital event for India's Olympic aspirations and a test for its high-performance coaching programme.
Engagement with neighbours has gathered pace, particularly as the conflict in West Asia has exposed their vulnerability to energy supply disruptions.
Understanding a product and assessing its suitability improve the chances of staying invested. Use life insurance mainly to cover risk, not to seek returns.
Fake web sites, counterfeit goods, bogus delivery charges and fraudulent customer support agents are common warning signs.
The Buddh International Circuit (BIC) recently hosted FIA-level racing for the first time in 13 years, sparking renewed discussions about a potential Formula 1 return to India. While organisers suggest 30-40% of the track needs revamping, drivers who competed praised its condition. The government is also exploring the feasibility, but significant financial investment and tax clarity are crucial for F1's comeback.
This may point to the beginning of a rising role of whistleblowers in aiding stock-market policing amid the rapid expansion in capital markets in recent years.
A source said the "intention of finding a resolution" on thorny issues appeared to be missing at the meeting between the two Tata leaders held at Noel Tata's residence.
The Delhi government is set to introduce a comprehensive drone policy aimed at creating over 1,000 jobs and regulating drone operations. The policy will focus on establishing research clusters, flight testing facilities, and providing subsidies, while also addressing drone usage for government purposes like traffic management and surveillance, considering the city's extensive 'no drone zones'.
