"Our endeavour is to bring headline inflation in line with the target over the medium term," said RBI Governor Sanjay Malhotra, addressing concerns about the central bank's policy stance and economic outlook.
Foreign Currency Non-Resident (Bank), or FCNR (B), deposits mobilised under the Reserve Bank of India's (RBI's) concessional swap facility may have already surpassed the amount raised during the 2013 scheme in just about 45 days, prompting SBI Research to sharply raise its estimate for inflows under the facility to $65-70 billion.
The biggest challenge to widespread deployment is no longer AI. It is the financial and commerce infrastructure that was built decades ago for deterministic software and human interactions -- not autonomous AI agents.
India's foreign exchange reserves saw a significant drop of USD 5.654 billion, settling at USD 666.933 billion for the week ending June 26, following interventions by the RBI and public appeals by Prime Minister Narendra Modi to conserve forex.
Telangana Chief Minister A Revanth Reddy's planned visit to the United States has been denied political clearance by the Ministry of External Affairs (MEA), citing non-conformity with laid down norms, forcing him to cancel the US leg of his 'TelanganaRising' delegation tour and return to Hyderabad earlier than planned.
The Lok Sabha has passed a Bill to amend the Payment and Settlement Systems Act, 2007, authorising the government to permit banks and service providers to levy charges on UPI and other electronic payment modes. This move aims to create a sustainable revenue model for the digital payments ecosystem, shifting from the current exemption of UPI transactions from such charges.
Tata Sons, the holding company of the Tata group, continues to be classified as an 'upper-layer non-banking financial company' (NBFC) by the Reserve Bank of India (RBI), despite its application to deregister as an NBFC-Core Investment Company (CIC) remaining under consideration. This classification subjects it to enhanced regulation and a mandatory listing requirement, which remains uncertain.
Indian benchmark equity indices, Sensex and Nifty, experienced declines in early trade due to a surge in Brent crude oil prices, which rose above USD 90 per barrel, coupled with subdued global cues and ongoing US-Iran skirmishes. Track Sensex, Nifty on Auigust 12.
Poor families, she said, cut corners on their own needs to pay for coaching and fees, and when their child clears JEE, it's the happiest day the family has had in years. So why, she asked, her voice already starting to climb, does the same system that we're told is the best in the country keep pushing those very students toward what she called 'institutional deaths'?
Shubman Gill has affirmed that Virat Kohli and Rohit Sharma are indispensable to India's ODI team, highlighting their vast experience and skill.
Moody's Ratings has highlighted that Indian banks are among the most exposed in the Asia-Pacific region to the West Asia crisis, primarily due to India's high dependence on energy imports, which could lead to increased inflation, higher interest rates, and strained borrower cash flows.
India's securitisation market achieved its highest-ever first-quarter performance, reaching approximately 60,000 crore, a 22 per cent year-on-year increase, primarily driven by Non-banking financial companies (NBFCs) and a significant surge in gold loan securitisation.
India is projected to attract between $80 and $85 billion through the Reserve Bank of India's (RBI) concessional swap facility, designed to boost foreign currency inflows, according to an SBI research report.
The Reserve Bank of India has imposed a penalty of Rs 41.8 lakh on Canara Bank for non-compliance with KYC norms and incorrect account classification, and Rs 3.1 lakh on Puran Associates Pvt Ltd for asset classification violations.
Indian benchmark indices Sensex and Nifty closed lower, with the Sensex dropping 388 points and Nifty declining 112 points, as a sharp rally in crude oil prices, driven by geopolitical uncertainties and concerns over the Strait of Hormuz, dampened investor sentiment and reignited inflation fears.
An EY India report suggests that banks must compete on customer experience and evolve physical branches into phygital advisory hubs. The report highlights the importance of anticipating customer needs and blending digital tools with human interaction.
Two prominent temples in Madhya Pradesh, the Pashupatinath Temple in Mandsaur and the Bade Ganesh Temple in Ujjain, observed India's Independence Day on August 11, four days ahead of the national celebration. This unique tradition stems from their adherence to the Hindu calendar, specifically Shravan Krishna Chaturdashi, which corresponded to August 15, 1947, and fell on August 11 this year. Special rituals, flag hoisting, and a Tiranga Yatra marked the early celebrations.
Analysts predict that the Reserve Bank of India's interest rate decision, the evolving situation in West Asia involving the US-Iran conflict, and crude oil prices will be the primary factors influencing investor sentiment in the Indian stock market this week.
In addition to caste details, the Census will, for the first time, collect personal information such as the total number of bank accounts held by individuals, along with their mobile number, Aadhaar number, voter ID number, passport number and driving licence status, according to the 40 questions notified by the Registrar General of India on Friday.
The Asian Development Bank (ADB) has revised down India's GDP growth forecast for fiscal year 2026-27 (FY27) to 6.6 per cent from an earlier 6.9 per cent, primarily attributing the change to elevated energy prices stemming from the Middle East conflict. Despite this moderation, India is still expected to remain the world's fastest-growing major economy.
The Securities and Exchange Board of India (Sebi) has swiftly barred Copthall Mauritius Investment and Mansi Share & Stock Broking from the securities market for alleged manipulative trades during the closing auction session (CAS) on Sensex expiry. The regulator has also directed the impounding of wrongful gains totalling 3.67 crore from the two entities.
Indian benchmark equity indices, Sensex and Nifty, extended their decline for a second consecutive day, primarily due to elevated crude oil prices and selling pressure on Tata Group stocks following Tata Sons Chairman N Chandrasekaran's announcement that he will not seek reappointment.
RBI Governor Sanjay Malhotra stated it is "premature" to discuss the implementation of Merchant Discount Rate (MDR) for digital payments, advising a "wait-and-watch" approach. He emphasised that investment in public payment infrastructure is necessary and someone must bear the cost, whether through taxes or MDR. The government is currently working on amendments to relevant statutes, and the RBI is focused on strengthening this infrastructure.
Abhijeet Dipke, founder of the Cockroach Janta Party (CJP), has called for the PM CARES Fund, which holds over Rs 8,452 crore, to be used to improve infrastructure in rural schools and build more than 1,000 new high-tech schools, highlighting the dire conditions faced by children.
The Centre has notified 40 questions for the upcoming Census 2027, including caste and place of Covid vaccination, marking the first time caste details will be collected as part of the decadal exercise. The population enumeration will be a fully digital process, with an option for self-enumeration.
LAMF allows investors to access liquidity while staying invested.
Indian benchmark indices closed marginally higher, with the Sensex gaining over 43 points and the Nifty remaining flat, as a spike in crude oil prices due to geopolitical uncertainties tempered risk appetite.
ICICI Bank is seeking recoveries of at least 100 crore from fintech firms, alleging merchant misclassification of their business, a practice that has eroded the bank's interchange income. The dispute, lodged with global card network Visa, highlights growing discomfort among banks and intensified scrutiny from the Reserve Bank of India.
India's public sector banks (PSBs) have seen their net profit nearly treble over the past five years, reaching a record Rs 1.98 trillion in FY26, driven by significant improvements in asset quality and sustained lending growth across key economic sectors.
In the draft norms issued last month, the RBI said that the ultimate responsibility for the bank's performance, conduct and control rests with the Board
India's foreign exchange reserves saw a substantial decline of USD 9.985 billion, reaching USD 671.625 billion for the week ended June 12, primarily driven by a sharp decrease in gold reserves, according to the Reserve Bank of India (RBI).
Bharti Airtel added 7.64 trillion in value over the past five years, making it the biggest wealth creator in India's private sector, while the IT sector, including TCS, Infosys, and Wipro, collectively lost 8.5 trillion in value, according to the latest Burgundy Private Hurun India 500 report.
India's largest retirement fund manager, the Employees' Provident Fund Organisation (EPFO), is enhancing its investment governance and fund management practices, following the Reserve Bank of India's recommendations.
'Taxpayers should not ignore any of these notices. Verifying the facts and responding promptly can help resolve issues early and avoid unnecessary litigation.'
The Indian government has clarified that consumers will not be charged for UPI transactions, and most merchant transactions will also remain free. This comes amidst speculation following an amendment to the Payment and Settlement Systems Act, 2007. Any future merchant discount rate (MDR) would be nominal, threshold-based, and aimed at ensuring UPI's long-term sustainability and infrastructure development.
DIIs invested $22.8 billion in Indian equities in Q2CY26.
Indian stock markets this week will be primarily influenced by a series of corporate Q1 earnings, the evolving geopolitical situation in West Asia, and fluctuations in crude oil prices, according to market analysts.
Chandrasekaran's exit is more than a change of chairman. It represents the breakdown of the informal consensus that governed the Tata system under Ratan Tata.
The United Forum of IDBI Officers & Employees has voiced "profound concern" over the Centre's reported decision to proceed with the strategic disinvestment of its controlling stake in IDBI Bank to Fairfax Financial Holdings, urging a parliamentary review of the proposed sale.
