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.
All 'grameen dak sevaks' in rural post offices will be given handheld devices by March 2017.
Goa police have dismantled an interstate heroin smuggling network, arresting four individuals, including the primary suspect from Uttar Pradesh. The investigation began after a raid near the Betim jetty, leading to the apprehension of Nepali nationals with a significant quantity of heroin.
Indian companies recorded their highest profit margins in 21 quarters during Q4FY26, reaching 11.3 per cent, primarily due to significant savings from lower employee costs and reduced interest payments, which offset rising raw material prices.
Cash remains dominant for many transactions despite continued expansion in digital payments across the country.
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.
The Employees' Provident Fund Organisation (EPFO) will soon allow subscribers to withdraw their EPF and transfer it directly to their bank accounts through the UPI payment gateway. Testing of the facility has been completed, according to Labour Minister Mansukh Mandaviya.
'The MPC is likely to prioritise the key mandate, which is inflation, while relying on other instruments to stabilise the currency and bond markets.'
Gurugram police have arrested five individuals in connection with a Rs 42.92 lakh digital arrest scam. The fraudsters posed as CBI officers, intimidated a victim, and coerced them into transferring a large sum of money. The arrested individuals include account holders and those who withdrew the defrauded cash.
The RBI on Friday gave 15 days more till March 15, 2024 to Paytm Payments Bank Ltd (PPBL) to stop deposits, credit transactions or top-ups in any customer accounts, wallets, and FASTags, keeping in view the interest of customers, including merchants. As per a January 31 order of the central bank, PPBL was asked to stop further deposits, credit transactions, or top-ups in any customer accounts, prepaid instruments, wallets, FASTags, and National Common Mobility Cards, after February 29.
Kerala Police have issued a warning about a new form of cyber fraud targeting people buying mattresses online. Fraudsters pose as fake customer care representatives of mattress companies and pressure customers into making immediate payments.
Foreign Portfolio Investors (FPIs) have withdrawn nearly Rs 43,000 crore from Indian equities in the first week of June, contributing to a total outflow of Rs 2.67 lakh crore in 2026, driven by a global shift towards technology and AI-linked opportunities and persistent rupee depreciation.
The CBSE reported that its re-evaluation portal faced a series of cyberattacks, including a denial-of-service attack, while students accessed the platform for verification and re-evaluation of answer books.
Dark patterns are no longer just a consumer protection concern, but a broader macroeconomic challenge affecting the long-term sustainability of India's digital commerce ecosystem.
Delhi Police have arrested a man from Rajasthan for allegedly running an online shopping fraud racket, cheating people through fake social media advertisements offering discounted branded suits and sarees.
The Reserve Bank of India (RBI) has unveiled draft norms for branch authorisation and business correspondents (BCs), introducing a two-tiered classification for BCs and redefining 'banking outlets' to include BC-Banking Outlets (BC-BOs), aiming to expand formal banking presence, particularly in rural areas.
Gujarat police have uncovered cyber frauds worth Rs 2,289 crore and arrested 638 individuals as part of 'Operation Mule Account 1.0', a state-wide crackdown on online criminals launched in 2025.
Non-resident individuals (NRIs) have also been allowed to apply for the niche banking licence, provided they plan to return to India.
'Exploration should be made easier and companies should be given operational flexibility.'
Delhi Police have arrested a 26-year-old man for allegedly siphoning off Rs 1.48 lakh from his paralysed brother-in-law's bank accounts after gaining the family's trust as his caretaker.
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.
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.
'It is a tradeoff between convenience and fraud prevention.'
The Indian rupee is highly vulnerable among Asian currencies, with Barclays and MUFG warning of a potential depreciation towards 100/$ if the West Asia conflict persists, driven by widening current account deficits and elevated crude oil prices.
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.
Rising stressed debt and past exposures like Reliance Capital, Yes Bank push EPFO to frame exit rules for its portfolio.
RBI Governor Sanjay Malhotra stated that the central bank is closely monitoring whether the supply shock from the West Asia conflict will lead to a generalised price rise, potentially necessitating monetary policy action.
Kotak Mahindra Bank to have a 19.9% stake in the proposed banking venture.
Unbanked customers can expect easier access to banking.
State Bank of India (SBI) reported a 6 per cent increase in standalone net profit to Rs 19,684 crore for the fourth quarter ended March 2026, driven by a significant decline in bad loans.
Wipro will be implementing the core banking solution for Paytm.
CEO Shashi Arora discusses his roadmap for Airtel Payments Bank with Karan Choudhury.
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.
Fintech giant Paytm reports a consolidated profit of Rs 183 crore in Q4 FY26, marking a significant turnaround driven by its core payments business, growth in loans, and consumer-side profitability. The company is also prioritising investments in AI and has ruled out applying for an NBFC licence.
The Enforcement Directorate (ED) has attached properties worth Rs 1.06 crore in connection with the 'Global Media App' fraud, an online earning platform that allegedly generated over Rs 45 crore through illicit means.
The Central Bureau of Investigation (CBI) conducted searches at seven premises linked to Reliance Communications Ltd, an Anil Dhirubhai Ambani Group company, in connection with a fraud case involving thousands of crores of rupees.
Fintech firm One97 Communications on Thursday said its subsidiary Paytm Payments Services Limited (PPSL), has received authorisation from the Reserve Bank of India to operate as a Payment Aggregator for physical (offline) payments and cross-border transactions.
A builder and two others were allegedly duped of 18.19 lakh by two individuals in Thane, Maharashtra, who promised to secure business loans for them.
Currently, only three have completed more than six months of operation in the space - Fino Payments Bank, Airtel Payments Bank and Paytm
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.
