RBI says polymer notes have a significantly longer lifespan, potentially reducing printing costs and replacement frequency.
Mobile payments pioneer Paytm reported significant growth in its UPI payments business for Q1 FY27, driven by app simplification, AI investments, and a focus on attracting Gen Z customers. The company saw a 45% year-on-year increase in Consumer UPI Gross Transaction Value and a rise of 60 lakh in Monthly Transacting Users, outpacing the industry. Paytm's strategy prioritises customer retention and product innovation, leading to a profitable quarter with strong revenue and EBITDA growth, further supported by AI-led operational efficiencies and an India-focused language model.
'Taxpayers should not ignore any of these notices. Verifying the facts and responding promptly can help resolve issues early and avoid unnecessary litigation.'
Public sector banks in India are increasing their IT spending to bolster cybersecurity measures in response to concerns about Anthropic's Claude Mythos AI tool and its potential to exploit vulnerabilities in financial systems.
Draft guidelines for Small Banks and Payments Banks were issued by the RBI in July and comments were invited till August 28.
Under bullet repayment, the principal remains outstanding and unpaid interest raises the liability over time. This makes the LTV ratio more vulnerable to a sharp fall in gold prices.
LAMF allows investors to access liquidity while staying invested.
The amount involved in banking system frauds surged to Rs 21,515 crore in the first half of FY26, up 30 per cent from the same period last year, even as the number of frauds fell 2.8 times to 5,092.
The PM CARES Fund experienced a 30 per cent decrease in domestic donations and an 18 per cent drop in foreign contributions during the fiscal year 2024-2025. Despite this, the total balance in the fund increased to Rs 8,452 crore, primarily held in fixed deposits and savings accounts. The fund's expenditure on the PM CARES for Children Scheme also saw a sharp reduction.
Unified Payments Interface (UPI) has reached a record Rs 314 lakh crore in transaction value in FY26, representing more than a 4,000-fold increase since inception.
A school teacher in Ajmer was defrauded of Rs 3.66 lakh by cyber criminals who lured her with a fake online offer to buy a rare Rs 5 note for Rs 48 lakh.
A US-sanctioned tanker carrying Iranian crude oil has rerouted mid-voyage from its previously indicated destination of India to China, raising questions about payment issues and the future of India's Iranian oil imports.
Last August, RBI gave in-principle approval to 11 applicants.
Education loan defaults carry serious consequences. Credit bureaus record missed payments against both the student and the co-borrower, usually a parent.
Unified Payments Interface (UPI) transactions moderated slightly in June from a record high in May, reaching Rs 28.9 lakh crore. Despite a month-on-month decrease in volume, the daily average transactions hit a new high, indicating UPI's strong adoption for low-value payments. The platform also demonstrated significant annual growth and expanding international presence.
...and 3 lakh for harassment.
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
The Kerala Sports Department has submitted its confidential inquiry report regarding the controversy surrounding the proposed visit of football legend Lionel Messi and the Argentina team to the state during the previous government's tenure.
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.
Abhijeet Dipke, founder of the Cockroach Janta Party (CJP), has called for the PM CARES Fund, which holds over Rs 8,452 crore, to be used to improve infrastructure in rural schools and build more than 1,000 new high-tech schools, highlighting the dire conditions faced by children.
A new report indicates that UPI has become the dominant payment method for lenders, accounting for over 90% of transactions. The report also highlights trends in investment amounts, diversification strategies, and geographic participation in peer-to-peer lending.
The Enforcement Directorate (ED) has arrested self-styled godman Ashok Kharat, accusing him of systematic extortion and money laundering through a network of bank accounts. Kharat allegedly rotated over Rs 47 crore of ill-gotten money through 60 bank accounts, deceiving devotees by claiming divine powers.
A man in Gurugram was arrested for allegedly defrauding a hotel by using a fake payment application to create screenshots of payments totaling Rs 6 lakhs, allowing him to stay for five months without paying.
Madhya Pradesh Congress MLA Rajendra Bharti has been disqualified from the state legislative assembly after being convicted in a bank fraud case involving the tampering of bank records to secure illegal interest payments.
Taxpayers must provide more details to support deduction and exemption claims.
Madhya Pradesh Congress MLA Rajendra Bharti has challenged his conviction and three-year jail sentence in a cheating case involving forged bank records. The Delhi High Court has issued a notice to the prosecution and scheduled a hearing for April 15.
The vertical will be based out of Bengaluru.
Indian benchmark indices Sensex and Nifty rebounded in early trade on Thursday, recovering from a sharp fall in the previous session, driven by foreign fund inflows and buying in key blue-chip stocks. Track Sensex, Nifty on July 9, 2026.
Madhya Pradesh Congress MLA Rajendra Bharti has been disqualified from the state legislative assembly after being convicted in a bank fraud case involving the tampering of bank records. The disqualification has sparked a political row, with the Congress party alleging a violation of democratic process.
'Improved law and order and transparent governance have helped change UP's investment image.'
Last year, the software giant launched a cloud adoption programme for SMBs.
Sebi cautions investors against fake notices demanding Securities Transaction Tax (STT) payments and warns about fraudsters posing as account handlers promising risk-free profits.
A Delhi court sentenced Madhya Pradesh Congress MLA Rajendra Bharti and a former bank employee to three years' imprisonment each in a cheating case involving the forging of bank records to obtain illegal interest payments between 1998 and 2011.
What is the reason behind this drying up of talent for the top post in private banks?
Authorised push payment frauds have emerged as a growing challenge globally as scammers increasingly rely on social engineering techniques to persuade users to transfer money voluntarily, making recovery more difficult even when transactions are authenticated.
The CBSE revaluation portal experienced a cyber attack, affecting the payment system and leading to unauthorised access for approximately 50 students. The incident caused fee display abnormalities, prompting investigations and system enhancements.
While opening new accounts, banks can check if the name appears in any mule data. In case it does, the bank can conduct enhanced due diligence.
Indian football legend Sunil Chhetri has voiced his deep disappointment over Jamshedpur FC's decision to withdraw from the upcoming Indian Super League season. Describing the move as "a punch in the gut," Chhetri urged the Tata Group, owners of the club, to reconsider, highlighting their crucial role in Indian football development. The club's withdrawal, influenced by a new AIFF administrative fee, means the ISL will proceed with 13 teams.
Inflows into foreign currency non-resident (bank), or FCNR (B), deposits have significantly underperformed market expectations, leading to a more than 1 per cent depreciation of the rupee against the dollar this week. Analysts point to fading RBI support measures, tepid interest due to rising global bond yields, and narrowing interest rate spreads compared to 2013 as key challenges.
