Manchester City has reportedly been found guilty of 114 out of 115 alleged breaches of Premier League financial rules, a development that could have significant repercussions for English football. The club denies wrongdoing and plans to appeal, stating the process is ongoing and confidential. This ruling follows a lengthy investigation and raises questions about financial regulation and competitive integrity in the league.
Airtel Business CEO Sharat Sinha stated that evolving architecture and methodologies for safely deploying Artificial Intelligence, coupled with adequate guardrails, are essential to unlock productivity gains. He welcomed the government's upcoming consultation paper on AI regulation, focusing on safety, deepfakes, and a human-first approach. Sinha also highlighted AI's role in driving demand for digital infrastructure and Airtel's growth in cybersecurity and fraud prevention.
Manchester City's 3-0 win at Liverpool was overshadowed by crowd trouble, with 10 arrests and a police officer suffering a serious facial injury.
An independent commission has found Manchester City guilty of serious financial rule breaches over nine seasons, involving "sham" commercial contracts to inflate revenue and understate costs by over 900 million. The club denies wrongdoing and plans to appeal the decision, which could have significant consequences for its past and future achievements in English football.
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.
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.
Jose Mourinho joked that he and Pep Guardiola may not live to see the end of Manchester City's legal battle after the club appealed its verdict.
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 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.
The US push for clearer crypto rules is putting pressure on India to fill its own regulatory gap for virtual digital assets.
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 Securities and Exchange Board of India (Sebi) has confirmed its interim directions against Rajesh Exports and its chairman, Rajesh Mehta, due to unresolved concerns regarding financial disclosures, consolidation of overseas subsidiaries, and alleged fund routing through related parties.
The National Financial Reporting Authority (NFRA) will invite public comments on the revised International Standard on Auditing 600 (ISA 600) proposed to be adopted by publicly listed companies and non-public-sector banks, sources close to the development told Business Standard. The decision to take this "graded approach" for the adoption of the ISA, which is meant to rein in auditors often found hiding behind the audit reports signed off by subsidiary companies, was taken at a meeting of various financial sector regulators at NFRA's board meeting on Monday (August 26). The idea behind upgrading the Standards of Audit 600 currently followed by Indian auditors to ISA 600 is to plug current gaps, which have led to major audit lapses in the recent past.
RBI Deputy Governor Shirish Chandra Murmu has dismissed concerns that the new Merchant Discount Rate (MDR) on UPI payments above Rs 2,000 will increase cash transactions. He also clarified the 'cash paradox' of rising digital payments alongside cash in circulation, explaining cash's dual role. Murmu further detailed the RBI's extensive regulatory changes aimed at reducing compliance burdens and emphasised that accountability for AI-driven decisions in finance will remain with institutional boards.
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.
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.
Investors should study the technology behind digital assets, including blockchain networks, wallets and transaction verification, rather than rely solely on recommendations. Understanding the technology could help them assess the risks.
The Supreme Court has mandated that banks must be held accountable for losses incurred by digital fraud victims, ensuring compensation of at least the amount lost if the fraud stems from the financial institution's lack of due diligence. The court emphasised that the proposed RBI regulatory framework must include enforceable provisions for compensation, preventive measures, and institutional accountability, moving beyond mere advisories. The CJI stressed the need for banks to use technology like AI to prevent fraud by monitoring unusual transactions and called for stronger accountability clauses against non-compliant banks.
The Delhi State Industrial Infrastructure Development Corporation (DSIIDC) launched an online liquor booking app, approved by the previous government in 2024, to bring transparency and curb brand pushing in retail sales. The app, which became available to iOS users via a micro-site on September 6, allows customers to digitally book and pay for liquor, which must then be picked up from designated stores. It has seen significant transaction growth since its launch in November 2025, aiming to reduce crowds and ensure age verification.
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.
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.
'We see a lot of cases of bank deposits getting lost, especially when people die, so this will help address that because you have one consolidated view.'
India has voted in favour of a UN General Assembly resolution urging the US to end its economic, commercial, and financial embargo against Cuba. The resolution, adopted on Wednesday, saw 130 countries support the call to lift restrictions that have severely impacted Cuba's economy, healthcare, and food production. The article also details a heated exchange between US and Cuban diplomats during the UNGA session.
Mira Bhayandar-Vasai Virar Police have busted an illegal chemical manufacturing facility in Telangana that supplied precursor materials for Mephedrone, leading to the arrest of the manufacturer. This operation is part of a larger multi-state investigation that has already uncovered two MD manufacturing labs in Gujarat and Uttar Pradesh and resulted in 25 arrests.
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.
'Borrowers may stop EMIs if the loan or tripartite agreement expressly permits suspension, including where disbursements or repayments are linked to specified construction milestones.'
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.
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.
'They allow people to enter and exit. And there is transparency. There is market infrastructure. There is technology. There is cyber security. And then there are enough enablers.'
The Indian government has approved the sale of a 60.72 per cent stake in IDBI Bank Ltd to Canadian billionaire Prem Watsa's Fairfax Financial Holdings Ltd for approximately 52,878 crore, a move that reflects improving India-Canada ties and marks a significant turning point for the bank.
India's cybersecurity agency, CERT-In, has issued a critical advisory warning about autonomous AI agents accessing sensitive data of Indian organisations without authorisation. Government sources on Friday emphasised the need for companies to bolster cybersecurity measures and monitor system activity, noting that while no major compromise occurred, the incident serves as an early warning. Future AI regulation is expected to address the risks posed by these agents.
LIV Golf is facing an uncertain future, operating under Chapter 11 bankruptcy with significantly reduced funding and prize money. Many prominent players are seeking to leave or have already left, while the PGA Tour and European Tour grapple with how to reintegrate defectors, leading to ongoing tension and debate over player loyalty and the future of professional golf.
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.
The AICF's proposed constitution could change the symbolism of its top office. The president may no longer remain merely the king on the chessboard -- important to the organisation but with limited reach -- and could become something closer to the queen, influencing internal governance, external representation and emergency decision-making.
...and 3 lakh for harassment.
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.
The National Financial Reporting Authority (NFRA) has commenced an investigation into Rajesh Exports concerning a 15.15 trillion financial misstatement, following a referral from market regulator Sebi.
The Supreme Court has sought responses from the Centre and others regarding a plea challenging the validity of 'Talaq-e-Hasan' and other forms of unilateral divorce under Muslim personal law. The petition also seeks uniform procedural safeguards, economic protection for divorced women, and questions the constitutionality of Section 2 of the Muslim Personal Law (Shariat) Application Act, 1937, as well as the lack of safeguards against polygamy.
The Supreme Court has questioned the Centre's decision to cap trade margins on anti-cancer drugs at 30 per cent, asking why similar restrictions could not be extended to other medicines and medical consumables, citing glaring disparities between procurement costs and maximum retail prices (MRPs).
Artificial intelligence major Anthropic has launched AI inference capabilities in India through Amazon Bedrock, allowing its Claude AI models to process data within the country's jurisdiction. This strategic move addresses the growing demand from Indian entities, particularly in regulated sectors, for compliance with local data processing norms as per the Digital Personal Data Protection Act. The initiative strengthens Anthropic's commitment to the Indian market, enabling secure and compliant AI deployment for sensitive workloads and fostering trust among major enterprises like Reliance, CRED, and NPCI.
