The State Consumer Disputes Redressal Commission has directed Bank of India to compensate a senior citizen for losses incurred due to unauthorized ATM transactions, citing deficiency in service and failure to adhere to security protocols.
Two individuals have been apprehended in Uttar Pradesh in connection with the Rs 50 lakh robbery at a State Bank of India branch in Surat.
A gang of armed robbers targeted a State Bank of India branch in Surat, Gujarat, looting Rs 50 lakh in cash after threatening staff and customers.
The Reserve Bank of India (RBI) has cancelled the banking licence of Paytm Payments Bank, citing that the bank's affairs were conducted in a manner detrimental to the interests of the bank and its depositors, and its management was prejudicial to public interest.
Flows from overseas Indians into Non-Resident Indian (NRI) deposit schemes have fallen by 24.17 per cent to approximately $11.04 billion between April 2025 and February 2026, down from $14.56 billion in the previous year, according to Reserve Bank of India (RBI) data.
Indian benchmark indices Sensex and Nifty experienced declines due to a sharp rally in crude oil prices, continuous foreign fund outflows, and geopolitical uncertainties. Regulatory developments in the banking sector, particularly the implementation of the Expected Credit Loss (ECL) framework, also contributed to the selling pressure.
UPI transactions reached 22.35 billion in April, marking a 25 per cent increase compared to April 2025. UPI now accounts for 85 per cent of all digital transactions in India and is live in eight countries.
Reliance Industries Ltd reported a 12.5 per cent fall in its March quarter net profit, primarily impacted by the global energy crisis affecting its oil and chemicals business, while its consumer-facing Jio Platforms unit saw a 13 per cent increase in profit after tax.
The top agenda of the meeting includes a review of Tata Trusts representation on the Tata Sons board.
A State Bank of India report indicates a sharp increase in precautionary cash holding in India, with the gap between per capita currency in circulation and ATM withdrawals widening significantly, driven by global uncertainties despite record digital payment transactions.
'At the first sign of real trouble, that money will move. There will be a run.'
The University of Chicago has conferred its Alumni Award for Professional Achievement to India's former chief economic adviser Krishnamurthy V Subramanian, the first Indian economist to receive the honour since 1941.
Following regulatory action against Paytm Payments Bank Ltd (PPBL), Paytm strategically separated its core operations, a move praised by analysts for preserving business continuity and governance. This separation has enabled Paytm to sustain growth and improve profitability.
The Reserve Bank of India (RBI) net-bought $7.4 billion from the spot foreign exchange market in February, its highest buy since March 2025, before heavily intervening by selling dollars in March as the rupee declined over 4 per cent following a spike in crude oil prices.
Paytm (One 97 Communications Ltd) has stated that the Reserve Bank of India's action on Paytm Payments Bank Ltd (PPBL) has no financial or business impact on the company. The fintech firm clarified it has no material business arrangements or exposure with the banking entity, which operates independently.
'First-time applicants may witness longer approval times or higher rejection rates and requests for more documentation.'
The government plans to expand its central bank digital currency (CBDC)-based food subsidy programme to Chandigarh, Dadra and Nagar Haveli, and Daman and Diu by June, following its implementation on a pilot basis in Gujarat and Puducherry, official sources said.
Jharkhand police have uncovered an interstate cyber fraud network and arrested four individuals involved in fraudulent transactions across 24 states. The investigation was initiated following inputs from the Union Home Ministry's 'Samanvaya portal', leading to the discovery of a bank account in Ramgarh district used for the illicit activities.
India's outward foreign direct investment (FDI) saw a significant increase of 27.5 per cent, reaching $7.06 billion in March, primarily driven by a sharp rise in guarantees for overseas units, according to the Reserve Bank of India.
Indian benchmark indices, Sensex and Nifty, closed almost unchanged in a volatile session as investors reacted cautiously to mounting geopolitical headwinds and a significant jump in crude oil prices, with Brent crude surging to USD 94.68 per barrel.
The Federation of Indian Export Organisations (FIEO) has appealed to the Reserve Bank of India (RBI) for liquidity support to Indian exporters, citing a significant increase in freight costs and extended payment cycles due to the ongoing West Asia conflict.
Unified Payments Interface (UPI) transaction value and volume saw a slight month-on-month dip in April after record highs in March, but daily transaction volumes increased, indicating sustained growth in digital payments across India.
Ask rediffGURU and PF, MF and insurance expert Purshotam Lal your mutual fund, insurance and personal finance-related questions.
Unified Payments Interface (UPI) has reached a record Rs 314 lakh crore in transaction value in FY26, representing more than a 4,000-fold increase since inception.
Indian benchmark indices, Sensex and Nifty, opened lower on Tuesday, driven by a surge in global crude oil prices and continued outflows by Foreign Institutional Investors (FIIs), reflecting fragile market sentiment influenced by external factors.
A 63-year-old retired Reserve Bank of India (RBI) employee was allegedly stabbed to death inside his residence in Delhi's Mandir Marg area. Police have launched an investigation and are exploring all possible motives.
A husband and wife have been arrested in Delhi for allegedly murdering a retired Reserve Bank of India employee after he refused to lend them money.
India's foreign exchange reserves increased by USD 2.362 billion to reach USD 703.308 billion for the week ending April 17, as reported by the Reserve Bank of India (RBI).
Eight of India's top-10 most valued firms saw their combined market valuation increase by Rs 1,87,497.45 crore last week, with Bharti Airtel emerging as the largest gainer, reflecting a positive trend in the equities market.
India's net foreign direct investment (FDI) recorded a positive $4.6 billion in February, breaking a six-month streak of negative figures, attributed to increased gross inflows and reduced repatriations, according to 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.
The Indian rupee depreciated by 28 paise to settle at 93.44 against the US dollar, influenced by ongoing uncertainties surrounding West Asia peace negotiations, volatile crude oil prices, and the Reserve Bank of India's recent adjustments to non-deliverable forward market regulations.
'In India's case, an extended earnings slowdown accompanied by rich valuations have dimmed returns since late 2024.'
Indian benchmark indices Sensex and Nifty experienced a significant tumble in early trade, driven by surging global oil prices, continuous outflows by Foreign Institutional Investors (FIIs), and persistent geopolitical uncertainties, particularly in West Asia.
The Supreme Court has deferred the hearing on a PIL alleging large-scale banking fraud involving the Anil Dhirubhai Ambani Group and its firms to May 8.
Even if there is an early agreement on a cessation of hostilities in West Asia, the price shock will not go away easily, points out A K Bhattacharya.
Finance Minister Nirmala Sitharaman met with bank heads to discuss risks related to Artificial Intelligence (AI) following global concerns over Anthropic's Mythos model and its potential threat to financial systems' data security.
Finance Minister Nirmala Sitharaman met with bank heads to discuss risks related to Artificial Intelligence (AI) following global concerns over Anthropic's Mythos model threatening data security of financial systems.
The Reserve Bank of India has updated its e-mandate framework, allowing card issuers to map existing mandates to reissued cards and clarifying rules around transaction limits and customer grievance redressal.
The Reserve Bank of India (RBI) has introduced stricter timelines for banks to process inward cross-border remittances, aiming to reduce delays in crediting funds to beneficiaries by mandating immediate customer intimation and more frequent nostro account reconciliation.
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