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.
This would imply a 29 per cent year-on-year rise, significantly lower than growth rates seen in recent years.
Global cybersecurity firm Kaspersky plans to significantly increase its investments in India, leveraging the country as a hub for regional services due to strong financial performance and the escalating threat landscape.
'This marks a turning point for Paytm, with the regulatory environment looking much clearer than it has been in the last two years.'
The vertical will be based out of Bengaluru.
Public sector banks have written off loans worth Rs 6.15 lakh crore in the last five and a half years, Parliament was informed on Monday.
Asian Development Bank (ADB) on Friday warned that India's limited crude oil reserves of about 100 million barrels - sufficient for only 40-45 days of consumption - leave the country particularly vulnerable to supply disruptions through the Strait of Hormuz amid the ongoing war in West Asia.
The Central Bureau of Investigation (CBI) has arrested Ayush Varshney, co-founder of Darwin Labs, in connection with the 200 million Gain Bitcoin cryptocurrency scam. Varshney was apprehended while attempting to flee the country.
Public sector banks' (PSBs') employee count grew for the first time in five years while private sector banks' staff strength saw a decline in 2024-25 (FY25), according to latest data released by the Reserve Bank of India (RBI). The employee count of state-owned lenders rose 0.22 per cent year-on-year (Y-o-Y) to 757,641 at the end of March 31, 2025 from 756,015 in FY24.
Last year, the software giant launched a cloud adoption programme for SMBs.
French President Emmanuel Macron announced that India and France will collaborate to develop an artificial intelligence framework that combines innovation with responsibility and technology with humanity, addressing the need for inclusive digital tools amid rising geopolitical tensions.
PhonePe on Friday said it has got the final authorisation from the Reserve Bank of India (RBI) to operate as an online payment aggregator. With RBI authorisation in place, PhonePe will be able to expand its reach and tap into online merchants, with a particular focus on small and medium businesses (SMEs) across the country, according to a release.
The High Court of Justice in London has rejected a fresh bail petition filed by diamantaire Nirav Modi, who is wanted in India in connection with the Rs 13,000 crore Punjab National Bank (PNB) fraud case.
Ask rediffGURU Reetika Sharma your insurance, mutual fund and personal finance-related questions.
Nearly two-thirds of external commercial borrowings (ECBs) raised so far in the ongoing financial year (2025-26/FY26) have been routed through Gujarat International Finance Tec-City (GIFT City), a sharp jump from the 36 per cent recorded in 2024-25.
Taking Kharg would give the US control over virtually all of Iran's oil exports and thus provide significant leverage, notes Prem Panicker in his must read daily blog on the Gulf War. It would also put American troops within range of Iran's remaining missiles, drones, and artillery on a piece of real estate that is just eight square miles in size, and just 15 miles from the Iranian mainland.
A RBI constituted panel on financial inclusion headed by Nachiket Mor had recommended the setting up of the payments banks in order to deepen access to finance.
'Uncertainty level A in the morning, uncertainty level B in the afternoon. If I answer about tariff rates now, I'll be outdated by the evening.'
The average value of retail digital payments dropped 48 per cent from Rs 8,769 in March 2021 to Rs 4,560 in March 2024 due to a growing preference to use digital modes of transactions for small value payments, according to the Reserve Bank of India's (RBI) report on the trend and progress of banking in India.
Rediff explains why the system, not the Budget, is the problem.
A Pakistan-based gangster posted a video on social media purportedly showing the killing of a police officer in Gurdaspur, near the Indo-Pak border. A terror outfit has claimed responsibility for the incident, prompting a thorough investigation by Punjab Police.
'There are no additional benefits for banks and market participants to use CBDC...'
The payments banks are intended to house transactional accounts for individuals, focusing on payments and remittances.
The RBI may grant licences for setting up small finance and payment banks by April 2015.
'Reinvention is not a hugely difficult task. With technology as available today, you can reinvent yourself pretty quickly.'
Taxpayers should consider ITR-U if they omitted income, wrongly claimed deductions or exemptions, or made reporting errors that led to a shortfall in tax payment.
The Delhi High Court has suspended actor Rajpal Yadav's sentence in a cheque bounce case until March 18, allowing his release from jail after he deposited Rs 1.5 crore.
With the Iran war escalating sharply and crisis deepening in the global energy market, India on Monday unveiled a coordinated plan to support exporters and shippers caught in the fallout.
India's third-largest telecom operator Vodafone Idea (Vi) has secured a 10-year breather on adjusted gross revenue (AGR) payments from the Department of Telecommunications (DoT). This is expected to ease pressure on its balance sheet and enable the company to raise bank debt for capital expenditure.
On government's last week's announcement of revamping of PSU banks, Fitch Ratings said the move is "credit positive, but risks remain".
The Reserve Bank of India's (RBI's) Payment Systems Report highlighted that between 2019 and 2024, credit card transactions doubled in volume and almost tripled in value. During the same period, however, debit card transactions witnessed a decline, both in volume and value.
Users experienced difficulties with UPI payments due to technical issues in some banks' systems. NPCI stated that its systems are operational and it is working with banks to resolve the problems.
Payment apps PhonePe and Paytm have helped citizens avert potential financial frauds worth Rs 200 crore by using the fraud risk indicator platform developed by the Department of Telecom, a senior Walmart group official said on Wednesday.
The RBI has flagged concerns over rising volatility in gold prices and advised lenders to exercise caution in the gold loan segment.
The value of the rupee, which has slipped to the 92 per dollar mark, does not accurately reflect India's stellar economic fundamentals, the Economic Survey said on Thursday.
'That journey across India has changed me forever.'
This single amendment, unfortunately, overshadows much of the Budget's promise, explains Harsh Roongta.
Ask rediffGURU Naveenn Kummar your insurance mutual fund and personal finance-related questions.
The previous largest weekly decline was recorded in the week ended November 15, 2024.
'We have seen that stablecoins lack the basic attributes of money, their advantages are neither unique nor unambiguous and their risks are all too real.'
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