While payments banks surely lose money, their operating ratios were looking better in 2017-18 compared to the year before. This implies that as customer volumes start picking up, the business models may perk up too, says R Jagannathan.
Foreign Portfolio Investors (FPIs) have withdrawn over Rs 62,853 crore from Indian equities in the first fortnight of June, bringing the total outflows for 2026 to Rs 2.87 lakh crore, surpassing the entire 2025 figure, driven by geopolitical tensions, global economic growth concerns, and a weakening rupee.
Kotak Mahindra Bank to have a 19.9% stake in the proposed banking venture.
Unbanked customers can expect easier access to banking.
Taxability in property transactions depends on the actual source of funds and beneficial ownership, not on whose name appears in the purchase agreement.
Reserve Bank Governor Sanjay Malhotra announced that India's foreign exchange reserves stand at a healthy $682.3 billion as of May 29, 2026, providing approximately 11 months of import cover and strong protection against external shocks.
Sebi cautions investors against fake notices demanding Securities Transaction Tax (STT) payments and warns about fraudsters posing as account handlers promising risk-free profits.
An Home Loan Protection Plan repays the outstanding loan if the borrower dies or suffers a covered disability.
Wipro will be implementing the core banking solution for Paytm.
CEO Shashi Arora discusses his roadmap for Airtel Payments Bank with Karan Choudhury.
Gurugram Police have arrested four individuals allegedly involved in an online betting fraud operation. The accused lured users with online gaming advertisements, processed payments through QR codes, and earned commissions on deposits.
The NTA has also confirmed that the upcoming re-examination, scheduled for June 21, 2026, will be conducted entirely free of cost for all previously registered candidates, funded fully through the agency's internal reserves.
State Bank of India Chairman C S Setty has expressed support for a 'pause' in policy rates by the Reserve Bank of India's monetary policy committee, believing it will help stabilise conditions and support economic growth. He also urged investors to look beyond short-term equity market movements and focus on India's structural transformation, driven by reforms and digital infrastructure.
Delhi Police dismantled an interstate cyber fraud network involved in routing illicit funds through bank account kits, SIM cards, and ATM credentials, leading to the arrest of three key individuals from Haryana and Himachal Pradesh.
ICICI Bank has received a demand notice of 768.6 crore from tax authorities for alleged short payment of GST, related to services provided to customers maintaining minimum balances.
Currently, only three have completed more than six months of operation in the space - Fino Payments Bank, Airtel Payments Bank and Paytm
Outward remittances under the Reserve Bank of India's Liberalised Remittance Scheme (LRS) saw a 7.85 per cent year-on-year contraction in April 2026, primarily driven by reduced international travel spending due to global uncertainty stemming from the US-Iran conflict.
While a wallet is convenient, payments bank offers interest on deposits and ATM facility.
Gurugram Police have arrested six individuals allegedly involved in a cybercrime racket that defrauded people through online gaming and betting platforms. The arrests followed a raid in Delhi's Janakpuri area, where authorities seized mobile phones, laptops, ATM cards, and other incriminating materials.
Experts contend that this setback, even if temporary, could put the company at a disadvantage to its competitors in acquiring new customers.
The National Payments Corporation of India (NPCI) is set to consider linking the ATM interchange fee to the Wholesale Price Index (WPI), alongside a potential hike from the current 19 to 21-22, which could impact customer charges for transactions beyond the free limit.
Students and families must stress test repayment capacity based on Indian salary standards.
The Delhi government has announced a comprehensive audit of the Narela and Bawana industrial areas, covering the period from 2011-12 to 2025-26. The audit, initiated by the DSIIDC, aims to identify financial irregularities, fund diversions, and their financial impact within these public-private partnership projects.
In August, RBI allowed 11 business houses to start a payments bank.
The Uttar Pradesh government announced it has paid a record Rs 3,21,963 crore to sugarcane growers since 2017, emphasising on-time payments and direct transfers to farmers' accounts. The government highlighted initiatives like farm loan waivers and the 'Smart Ganna Kisan' system for online sugarcane management.
Investments under the framework would remain voluntary for employees.
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Of the 11 licence holders, only eight remain in the fray as concerns about profitability and rising competition are making them think twice before jumping in.
NPCI BHIM Services Ltd is expanding the BHIM app to feature phones to increase financial inclusion and diversify revenue through financial product distribution. The app aims to double its market share and is focusing on partnerships with banks and new features like UPI Circle.
Despite current headwinds, India remains the world's fastest-growing major economy and should not allow near-term challenges to obscure its long-term growth potential, said Jane Fraser, Citi Chair and Chief Executive Officer.
India achieved a current account surplus of USD 7.1 billion, or 0.7 per cent of GDP, in the January-March quarter of 2025-26, primarily boosted by robust services exports and increased remittances from overseas Indians, according to recent Reserve Bank of India data.
Jaitley said banking network is expanding hugely and the health of banks reflects on the challenges for the economy.
The Reserve Bank of India (RBI) is set to introduce polymer banknotes to address the rising demand for currency, improve durability, and reduce production costs, with a pilot project expected soon.
A DRDO employee in New Delhi was defrauded of over Rs 15 lakh in a sophisticated online investment scam involving fake work-from-home tasks and promises of high returns. Police have arrested three individuals from Haryana and Rajasthan who played different roles in facilitating the movement of the illicit funds, with further investigation ongoing.
Payment banks may not be viable option to attain financial inclusion.
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.
Telecoms investor Aditya Birla Nuvo Ltd and retailer Future Group were among the first big names to apply for licenses to run so-called payments banks
The Enforcement Directorate has summoned several farmers in Jaipur as part of an investigation into alleged money laundering and fraudulent land aggregation involving real estate developers.
Delhi Police have arrested a man from Madhya Pradesh in connection with a multi-crore bank fraud case involving forged cheques and fraudulent withdrawal of funds from an Amity University account.
It will carry out most banking operations like accepting deposits but can't advance loans or issue credit cards.
Cash remains dominant for many transactions despite continued expansion in digital payments across the country.
