It will carry out most banking operations like accepting deposits but can't advance loans or issue credit cards.
IRCTC is expanding its payments arm, IRCTC Payments, to handle transactions across its ticketing platform and tap government clients, aiming to scale its annual payment processing to approximately 1 trillion.
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.
What is the reason behind this drying up of talent for the top post in private banks?
One 97 Communications Ltd, operating under the Paytm brand, has transitioned to a majority Indian-owned and controlled company, reflecting increased domestic investor confidence and improved financial performance.
The board is likely to take up the matter this month.
Grandmaster Abhijeet Gupta, frustrated by delays in receiving prize money for winning the Odisha Open, has been assured by the All India Chess Federation that the issue will be resolved and his dues cleared.
The amount involved in banking system frauds surged to Rs 21,515 crore in the first half of FY26, up 30 per cent from the same period last year, even as the number of frauds fell 2.8 times to 5,092.
Rising stressed debt and past exposures like Reliance Capital, Yes Bank push EPFO to frame exit rules for its portfolio.
'It is a tradeoff between convenience and fraud prevention.'
Unified Payments Interface (UPI) transactions in India reached a record high in March, with 22.64 billion transactions, marking a significant increase from the previous year and highlighting the growing adoption of digital payments.
Jaitley said banking network is expanding hugely and the health of banks reflects on the challenges for the economy.
Unified Payments Interface (UPI) transactions in India reached a record high in March, driven by increased adoption and global expansion. The system now accounts for 85% of digital transactions in India and is live in eight countries.
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) transactions reached a record high in March, driven by festivities and the financial year closure, according to the National Payments Corporation of India (NPCI).
'At the first sign of real trouble, that money will move. There will be a run.'
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.
Mastercard and Visa are introducing passkeys that will allow users to authenticate card payments with face scans or fingerprints, eliminating the need for one-time passwords (OTPs).
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 company will transfer its wallet business, which has over 218 million mobile wallet users, to the newly incorporated entity -- PPBL -- under the payments bank licence awarded to Vijay Shekhar Sharma, the founder of One97 Communications that owns Paytm.
'There is no shortage of fuel whatsoever.' 'India is stock surplus as far as petrol and diesel are concerned.'
Trump may strike. He may announce productive talks and extend again. He may do both at the same time. Iran will not open the Strait on someone else's terms, so no matter what happens, that problem will remain unsolved. And the IRGC will still be collecting its $2 million toll from every ship bold enough to ask permission to pass.
This would imply a 29 per cent year-on-year rise, significantly lower than growth rates seen in recent years.
With the Iran war escalating sharply and crisis deepening in the global energy market, India on Monday unveiled a coordinated plan to support exporters and shippers caught in the fallout.
'Reinvention is not a hugely difficult task. With technology as available today, you can reinvent yourself pretty quickly.'
This single amendment, unfortunately, overshadows much of the Budget's promise, explains Harsh Roongta.
Taking Kharg would give the US control over virtually all of Iran's oil exports and thus provide significant leverage, notes Prem Panicker in his must read daily blog on the Gulf War. It would also put American troops within range of Iran's remaining missiles, drones, and artillery on a piece of real estate that is just eight square miles in size, and just 15 miles from the Iranian mainland.
The Indian Post Payments Bank will be a boon to Indians who live in rural areas. India has 154,000 post offices, of which 139,000 are rural.
The previous largest weekly decline was recorded in the week ended November 15, 2024.
Ask rediffGURU Naveenn Kummar your insurance mutual fund and personal finance-related questions.
Banks and NBFCs are launching festival offers, including lower loan rates, cashback, EMI schemes and GST-linked benefits to tap rising demand ahead of Diwali
'When you think of cross-border payments, the first things that come to mind are risk, compliance, taxation, speed, and cost.'
Overall economic activity continued to hold up in November with demand conditions remaining robust, thanks to strengthening urban demand, but manufacturing and rural demand showed some signs of deceleration even as services remained strong, according to an article on the State of the Economy written by Reserve Bank of India (RBI) officials in the central bank's December bulletin.
Telangana's anti-narcotics wing, the EAGLE Force, conducted a multi-state operation against a Nigerian drug cartel, resulting in over 50 arrests and the seizure of narcotics worth Rs 3.5 crore.
'The first time India has seen two consecutive blockbuster IPO years.'
Whenever possible, the karta or head of the family should openly discuss the future distribution of movable and immovable property with all legal heirs.
'The Indian consumer is moving so quickly and they have so many options.'
The domestic initial public offering (IPO) market is experiencing a significant surge, fuelled by the financialisation of savings, digital ease of investing, and expanding participation from both retail and institutional investors, investment bankers said on Wednesday.
'Other sectors that manage the savings pools of Indians are giving tough competition to life insurance companies.'
India posted a current account surplus of $13.5 billion or 1.3 per cent of GDP in March quarter 2024-25 as compared with $4.6 billion in the year-ago period mainly on account of surge in services exports and higher remittances, according to RBI data released on Friday.
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