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.
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.
Post Office has 1,54,000 rural branches.
Police in Lucknow have arrested four people for allegedly using ChatGPT and graphic design software to create and sell fake IPL tickets outside the Ekana Stadium.
People close to Shanghvi reveal he is known to make surprising moves both inside and outside the pharma industry.
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.
India Post may be keen to apply for payment bank licence.
A Delhi court granted bail to a former accounts officer accused of swindling more than 2 lakh Swiss francs from India's Permanent Mission in Geneva to fund his crypto-gambling ventures.
A section of industry may need to begin compliance immediately, even as most states are yet to notify their rules.
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 CBI has registered a corruption case against Rajni Kant Agrawal, the former chairman-cum-managing director of Water and Power Consultancy Services (WAPCOS), following a complaint from the Ministry of Jal Shakti.
The CBI conducted searches at 17 premises in Mumbai related to Reliance ADA Group companies, including Reliance Telecom and Reliance Finance, concerning alleged diversion of bank funds and losses to banks and LIC.
The Centre has announced that the Viksit Bharat -- Guarantee for Rozgar and Ajeevika Mission (Gramin) Act will come into force across the country from July 1, replacing the Mahatma Gandhi National Rural Employment Guarantee Act.
Draft guidelines for Small Banks and Payments Banks were issued by the RBI in July and comments were invited till August 28.
Delhi Police have arrested two men from Goa, claiming to have busted an interstate cyber-fraud-and-cash-conversion racket. Transactions worth nearly Rs 40 lakh routed through the network have been uncovered.
'Statutory power must be exercised in a manner that is fair, proportionate, and not excessive.' 'The authority must demonstrate a rational nexus between the property frozen and the alleged offence.'
A Delhi court granted bail to a former accounts officer accused of swindling more than 2 lakh Swiss francs from India's Permanent Mission in Geneva to fund his crypto-gambling ventures.
'...even though the investigation in the matter is ongoing, we have paid 100 per cent of the principal and interest to relevant departments of the Haryana government.'
Indian benchmark equity indices, Sensex and Nifty, closed lower due to investor caution over rising bond yields, a weaker rupee, and fresh fuel price hikes, which have revived inflation concerns.
Mumbai Police's 1930 cyber helpline has successfully intercepted and frozen over 101 crore defrauded from citizens in the last five months, preventing significant financial losses.
Moving beyond digital payments, the National Payments Corporation of India (NPCI), the operator of Unified Payments Interface, is planning to add more muscle to the country's digital infrastructure by setting up a fourth subsidiary, NPCI Tech Solutions Ltd (NTSL).
Motorola's latest Moto G37 duo arrives equipped with the capable MediaTek Dimensity 6400 processor and boots the fresh Android 16 platform straight out of the box.
Last August, RBI gave in-principle approval to 11 applicants.
Union Education Minister Dharmendra Pradhan has directed officials to address issues faced by students regarding the CBSE examination system, following allegations of irregularities. The government has committed to transparency and accountability, assuring that all genuine concerns will be addressed effectively.
'First-time applicants may witness longer approval times or higher rejection rates and requests for more documentation.'
Jharkhand Police have arrested the prime accused in a fraudulent withdrawal case from the West Singhbhum treasury, along with three others. The accused manipulated departmental computer data for nearly nine years to divert government funds into their own accounts and those of associates.
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.
The IPPB, which is currently running pilot services in Raipur and Ranchi, needs a go-ahead from RBI for the software used for system integration
Grandmaster Abhijeet Gupta is struggling to receive his prize money from the Odisha Open, prompting him to seek intervention from the Sports Ministry after repeated assurances from organisers yielded no payment.
A Delhi court has convicted Congress MLA Rajendra Bharti and a former bank employee in a case involving cheating and forgery of bank records to illegally obtain interest payments.
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.
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.
Two cyber fraudsters have been arrested for allegedly defrauding a resident of East Delhi of over 20,000 by posing as electricity officials.
The RBI will now charge banks different deposit insurance fees based on how risky they are, allowing safer banks to pay less premium.
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 Department of Posts was one of the 11 entities to get the in-principle nod from the Reserve Bank of India in 2015 for setting up a payments bank.
It will enable real-time intel sharing among banks and other financial sector participants to strengthen customer protection against digital fraud.
Delhi Police have arrested 11 individuals, including two alleged masterminds, after uncovering a fraudulent call centre in Govindpuri, South Delhi. The operation, known as Herbitecture Healthcare, reportedly deceived people nationwide by promoting weight-loss products on social media and enticing customers into making repeated payments.
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.
A 61-year-old man from Mangaluru was allegedly cheated of Rs 2.07 crore by cyber fraudsters posing as officials of central investigative agencies in a 'digital arrest' scam, police said.
