The rupee plunged to a fresh low of 93.72 against the dollar on Friday, falling 1.15 per cent in a single session - its sharpest one-day decline since February 24, 2022 - as elevated crude oil prices and strong dollar demand from oil-marketing companies and foreign portfolio investors (FPIs) weighed on the currency.
Airpay Payment Services has partnered with Maharashtra State Co-operative Bank (MSCB) to enable UPI-based digital payments across the lender's network in Maharashtra, aiming to accelerate financial inclusion in rural areas.
Fixed deposits from nationalised banks delivered higher returns than equities, outperforming both inflation and stock market benchmarks.
Lenders are actively monitoring gold price volatility, prompting them to ask borrowers for additional gold collateral or partial principal repayment when loan-to-value (LTV) thresholds are breached, particularly for loans disbursed in February.
"It is quite possible that the rates will remain low in the near to medium term, but that will depend on how conditions evolve," said RBI Governor Sanjay Malhotra.
The Indian rupee weakened against the US dollar due to sustained foreign fund outflows and uncertainties in West Asia, although lower crude oil prices and a positive opening in domestic equity markets limited the losses.
Indian equities trading activity saw a moderation in FY26, with cash market turnover declining and derivatives growth remaining subdued due to regulatory tightening and weak market performance. Further impacts are expected from new RBI norms and a hike in Securities Transaction Tax (STT).
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.
'During the bank's board meeting, many directors asked him if there is a governance issue but he said there is none.'
The Election Commission has warned against any lapses in maintaining law and order ahead of the West Bengal Assembly elections, questioning the absence of a Narcotics Advisory Committee in the state and directing strict monitoring of financial transactions.
S&P Global Ratings has increased India's GDP growth forecast for the next fiscal year to 7.1 per cent, citing private consumption, investment, and exports as key drivers. However, the agency also cautioned that the conflict in the Middle East could strain India's fiscal position due to higher energy prices.
The contraction in total reserves was driven by a fall in gold reserves, which dropped $13.49 billion to $117.19 billion during the reported week.
The Indian rupee weakened to a record intra-day low against the US dollar due to a strengthening greenback, continuous foreign capital outflows, and elevated global crude oil prices amidst the West Asia conflict.
'My resignation is a larger governance and governance-plus kind of an issue, which the board of directors of the bank should be introspecting.'
Markets will look for clear guidance on how the MPC interprets the uncertainty and what it implies for the future course of monetary policy, points out Rajeswari Sengupta.
The Reserve Bank of India (RBI) announced that it processed 99.8% of applications within the prescribed timeline under its Citizen's Charter in February, demonstrating high efficiency in its operations.
Remittances from West Asia in March rose sharply amid the conflict in the region, with industry insiders estimating inflows to be 20-30 per cent higher than what is usual in a month.
The Haryana Police have launched 'Abhedya', a mobile application designed to curb cybercrime, extortion, and threatening calls. This initiative makes Haryana the first state in India to introduce such a measure, aiming to protect citizens from various forms of digital harassment.
Only bona fide victims would be compensated by banks within five days of receiving the complaint.
Governance uncertainty and leadership visibility gap are likely to keep the stock under pressure in the near term, said Nomura in a report.
What is the reason behind this drying up of talent for the top post in private banks?
Fitch Ratings on Friday said persistently higher oil prices could cause India's retail inflation to rise faster than the expected gradual pace, and lead to a slowdown in economic growth in the first half of financial year 2026-27 (FY27).
Petroleum Sports Promotion Board (PSPB) men secured a dominant victory at the Senior Table Tennis National Championships, while Reserve Bank of India (RBI) women reclaimed their title after two years.
'When there is such an elaborate and a strong process, one would have expected anyone to either place the issues so that they can be addressed or go to the regulator and probably tell them rather than creating a kind of uncertainty for the stakeholders.
The Supreme Court of India will hear a suo motu case concerning victims of digital arrest, a growing form of cybercrime where fraudsters impersonate officials to extort money from victims.
Customers will qualify for compensation even if they mistakenly share the OTP.
The Reserve Bank on Tuesday proposed greater flexibility to authorised persons to undertake foreign exchange transactions for hedging their exposures, balance sheet management and market-making, as well as to ease reporting obligations, after a review of the current regulations.
'Being an important institution in the banking system, we are subject to regulatory supervision, both offsite and onsite.' 'When you look at the intensity at which these levels of supervision come, we, on the board and in management, believe there should not be any surprises.'
The Indian rupee crashed to a record closing low against the US dollar due to rising global crude oil prices, a strengthening dollar, and geopolitical tensions in the Middle East.
A model has filed a complaint in a Kanpur court against her husband, IPL cricketer Amit Mishra, accusing him and his family of dowry harassment, assault, and abetment to suicide.
Kanpur Police solved a robbery case leading to the discovery of a large hawala network. Six people were arrested, and investigations are ongoing to uncover the full extent of the illegal financial activities.
Indian rice exporters are seeking urgent government support to mitigate the impact of shipping disruptions caused by the Iran crisis and instability in key maritime routes. The disruptions have led to increased freight rates, insurance premiums, and fuel costs, impacting domestic prices and exporter profitability.
The rupee declined 31 paise to settle at 90.65 against the US dollar on Friday, weighed down by geopolitical uncertainties over the US-Iran talks, and a sharp rise in global crude oil prices.
Households should moderate large discretionary expenses for the time being.
'They should prioritise essential spending. They should maintain an emergency fund covering 6 to 12 months of expenses.'
To meet liquidity pressure because of advance tax outflows this month, the Reserve Bank of India (RBI) has adopted a measured approach with its latest announcement of open-market operations (OMOs), worth Rs 1 trillion.
Asian Development Bank (ADB) on Friday warned that India's limited crude oil reserves of about 100 million barrels - sufficient for only 40-45 days of consumption - leave the country particularly vulnerable to supply disruptions through the Strait of Hormuz amid the ongoing war in West Asia.
Abusive language, threats, harassment, excessive or anonymous calls, public humiliation, and misleading representations are explicitly prohibited.
Sebi cautions investors against fake notices demanding Securities Transaction Tax (STT) payments and warns about fraudsters posing as account handlers promising risk-free profits.
Benchmark lending rates unchanged with repo rate at 5.25%
Nearly two-thirds of external commercial borrowings (ECBs) raised so far in the ongoing financial year (2025-26/FY26) have been routed through Gujarat International Finance Tec-City (GIFT City), a sharp jump from the 36 per cent recorded in 2024-25.
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