Essel Group Chairman Subhash Chandra has challenged the National Company Law Tribunal's (NCLT) decision to form a five-member bench to hear his personal insolvency case, arguing that the tribunal lacks the power to constitute such a bench. This comes after a split verdict and a subsequent stay on an order allowing him to settle claims.
'It's A Cat And Mouse Game.'
The board is likely to take up the matter this month.
To deepen the financial inclusion process, and help get more people under the formal financial system, the RBI has mooted the idea of small banks and payments banks.
Essel Group founder Subhash Chandra has called for an independent audit to examine the group's borrowings, defaults, and repayments, stating that approximately 43,000 crore of its 45,000 crore total debt has been repaid.
Most public sector banks, flush with deposits now, offer 3-4% interest on savings deposits, while a few private sector banks go up to 6%.
The Samyukta Kisan Morcha (SKM) has ended its protest at the Chandigarh-Mohali border after receiving written assurances from the Punjab government. The government has pledged to convene a state Assembly session within a month to address issues concerning river waters, agriculture, and farmer loans, including resolutions against old water agreements and certain central bills.
The Reserve Bank of India (RBI) has introduced its 'Payments Vision 2028' document, outlining initiatives to enhance digital payment security, introduce electronic cheques, and expand regulatory oversight to include e-commerce entities.
The Reserve Bank of India has approved a three-month extension for Keki Mistry as the interim chairman of HDFC Bank, continuing his tenure until September 18, 2026, or until a regular chairman is appointed.
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.
Payments banks are niche banks set up by the Reserve Bank of India to further the agenda of financial inclusion.
Bharti Airtel aims to leverage its 180 million plus digital service customers and its wide presence in rural areas to grow its payment bank business. "We are well placed as we can leverage the 180 million plus customers we have across our digital assets. "We offer a plethora of services such as lucrative interest rates, gift cards, FASTag, telecom recharges, payments and debit cards. "Our large merchant base of more than eight million allows us to drive both engagement and monetisation.
The Reserve Bank of India (RBI) is developing digital public infrastructure and payments intelligence platforms using artificial intelligence and application programming interfaces to improve customer experience and strengthen the payments ecosystem.
'Every period of excessive optimism eventually gives way to a correction, while periods of extreme pessimism often create the best investment opportunities.'
A government mandate requiring central public sector enterprises to use the Trade Receivables Discounting System (TReDS) for settling small business invoices is expected to significantly increase volumes on these platforms.
Vodafone Idea (Vi) significantly reduced its losses in Q1 FY27 to approximately 3,754 crore, driven by an exceptional gain and increased average revenue per user (Arpu). The company also reported its first net subscriber additions since its 2018 merger, indicating a positive shift in its operational trajectory.
The Paytm Payments Bank will be headquartered in Noida and kick off its services from east and north to begin with
An Indian national, Jay Sunilbharthi Goswami, has been arrested and charged in the US for his alleged role as a "money mule" in a multi-million-dollar internet and telephone fraud scheme targeting elderly victims. Goswami, a Gujarat native, was detained in Canada while attempting to flee to Qatar, facing charges including wire fraud and money laundering.
The Economic Offences Wing (EOW) of Odisha Police has arrested another person from Bhubaneswar for his alleged involvement in a bank loan fraud case worth Rs 6.88 crore.
Bank of Baroda has partnered with Reliance Jio to provide access to its mobile banking application, 'bob World Lite', for users of Jio feature phones, aiming to promote financial inclusion and digital payments.
From April 1, 2026, the Reserve Bank of India's new authentication directions modernise how every digital payment you make must be verified -- and place the burden of security squarely on your bank, not on you.
'A balance had to be struck between the economic cost of taking action at this point against the need not to fall behind the curve in controlling inflation and anchoring inflation expectations.'
The RBI has doubled the limit of maximum balance that an individual customer can hold with payments banks to Rs 2 lakh from Rs 1 lakh earlier with immediate effect to expand the ability of such lenders to cater to the needs of MSMEs and other businesses.
List all unavoidable expenses such as rent, groceries, transportation, education and medical bills.
The BCCI on Monday invited bids for the title sponsorship rights for its domestic and international home events, with the current agreement with IDFC FIRST Bank nearing the end of its tenure.
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.
Swift and global banks are launching a new system to make international payments faster and cheaper for small businesses and consumers, starting with major global markets.
Fintech unicorn Razorpay has confidentially filed draft documents with SEBI for an Initial Public Offering, with market sources estimating the issue size between Rs 5,000-6,000 crore. This move comes as a rival firm, PhonePe, has paused its IPO plans.
The National Stock Exchange of India Ltd (NSE) has received regulatory approval from SEBI for its long-awaited Rs 30,000-crore initial public offering (IPO), positioning it to potentially become the country's largest-ever public issue.
ICICI Bank chief Chanda Kochhar on Wednesday said "disruption" will happen in the industry due to technology and not because of the entry of new entities in the market.
Airpay Payment Services has partnered with Maharashtra State Co-operative Bank (MSCB) to enable UPI-based digital payments across the lender's network in Maharashtra, aiming to accelerate financial inclusion in rural areas.
The question for the next 20 years is not whether India can become a $5 trillion or $10 trillion economy. Those are attractive targets, but the real question is whether India can create enough productive jobs, educate its children properly, make its cities liveable, and give hundreds of millions of people a substantially better life, asserts Ramesh Menon.
Post Office has 1,54,000 rural branches.
'...A new challenge has emerged in the form of Mythos.'
The Employees' Provident Fund Organisation (EPFO) is set to credit the 8.25 per cent interest on provident funds for FY26 to 34 crore member accounts by July 15, enabled by its new centralised IT system (CITES). This upgrade promises enhanced operational efficiency, transparent services, and easier access to PF details and claims for members.
A data breach does not end when the headlines fade. For victims, stolen personal information can fuel fraud, identity theft and financial losses for years.
The move comes amid growing demand from organisations in India for local access to Claude.
People close to Shanghvi reveal he is known to make surprising moves both inside and outside the pharma industry.
India Post may be keen to apply for payment bank licence.
RBI says polymer notes have a significantly longer lifespan, potentially reducing printing costs and replacement frequency.
