By enabling real-time data sharing, the platform will help prevent scams and ensure secure transactions.
Former HDFC Bank chairman Atanu Chakraborty cites misselling of AT-1 bonds and underperformance as key reasons for his resignation, dismissing personal differences as a major factor.
Customers will qualify for compensation even if they mistakenly share the OTP.
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.
India's forex reserves jumped $8.663 billion to hit a new all-time high of $725.727 billion in the week ended February 13, the RBI said on Friday.
The Supreme Court has expressed serious concerns about the rise in digital fraud, particularly digital arrest scams, and has directed the central government to develop a standard operating procedure to combat these crimes.
Wholesale price inflation extended upward momentum for the third straight month, at 1.81 per cent in January, driven by an uptick in prices of food, non-food articles, and manufactured items on a month-on-month basis, government data showed on Monday.
The easing of external commercial borrowing (ECB) norms by the Reserve Bank of India (RBI) is expected to significantly boost overseas fundraising by Indian companies, market participants said.
In a bid to promote the use of domestic currency for cross-border settlements, the Reserve Bank on Wednesday announced a slew of measures, including allowing banks to lend in Indian Rupees to non-residents from Bhutan, Nepal and Sri Lanka for bilateral trade.
Passenger vehicle sales in India reached a record high of 4.7 million units in FY26, boosted by strong performances from major automakers and the implementation of GST 2.0.
It said that when a retiree, who withdraws amounts in the range of Rs 10,000 or Rs 20,000, suddenly withdraws huge amounts, then the bank should issue an alert.
The Reserve Bank of India (RBI) on Wednesday kept its policy interest rate unchanged at 5.5 per cent for the second consecutive time, citing concerns over tariff uncertainties.
India's forex reserves dropped by $6.71 billion to $717 billion during the week ended February 6, the RBI said on Friday.
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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.
Reserve Bank of India (RBI)Governor Sanjay Malhotra on Friday said it was not the regulator's job to take decisions for bank boards, speaking in the context of the wide range of enabling reforms announced for lenders during the October monetary policy review, and emphasised that financial stability remained the regulator's focus.
Mastercard and Visa are introducing passkeys that will allow users to authenticate card payments with face scans or fingerprints, eliminating the need for one-time passwords (OTPs).
Fexo, an AI intelligence platform focused on the BFSI sector, has launched its AI decisioning engine for business loans, designed to help financial institutions accelerate AI adoption and improve decision-making processes.
Atanu Chakraborty has resigned as chairman of HDFC Bank, citing ethical concerns, marking an unusual departure and prompting the appointment of an interim chairman.
Mint Road's proposals on banks' M&A funding are cautious even as entrants root for more elbow room, and weigh business models.
The Indian rupee fell to a record low against the US dollar due to rising crude oil prices, foreign institutional investor selling, and weak domestic equity market sentiment.
Fitch Ratings on Friday said persistently higher oil prices could cause India's retail inflation to rise faster than the expected gradual pace, and lead to a slowdown in economic growth in the first half of financial year 2026-27 (FY27).
There are hopes of a turnaround in overall corporate earnings after six quarters of single digit growth.
The recent policies that have been announced by the Reserve Bank of India (RBI) will allow banks to fully use its capital, funding profile to keep business at an equilibrium level, which otherwise was getting skewed towards retail, said K V Kamath, chairman, Jio Financial Services.
Stock markets closed higher on Friday after the Reserve Bank of India kept its benchmark interest rate unchanged as expected and proposed allowing banks to lend to Real Estate Investment Trusts (REITs) with certain prudential safeguards to deepen the financing pool for the real estate sector.
The high-value Rs 2000 notes worth Rs 5,884 crore are still in circulation, according to official data released on Wednesday.
The rupee, which was the worst performing Asian currency in 2025 and also in January, was the best performing Asian currency on Tuesday.
For the time being, the RBI is done with the cuts. A cut in October, which many are still predicting, is not certain. Of course, if growth nosedives, the script will be different, expects Tamal Bandyopadhyay.
OTP scams accounted for over one-fourth of all cyber frauds.
India's forex reserves jumped by $8 billion to an all-time high of $709 billion during the week ended January 23, the RBI said on Friday.
The rupee appreciated 13 paise to close at 90.34 against the US dollar on Thursday, on trade deal optimism and overnight decline in commodity prices, even as the upside remained capped as investors look for more clarity on the India-US trade deal.
Investors are moving away from the commercial paper (CP) market towards certificates of deposit (CDs), as primary CD issuances and rates on these short-term instruments rise.
Banks are depending more heavily on the market for certificates of deposit (CDs), whose worth climbed to a record Rs 5.75 trillion in the fortnight to January 15, owing to deposit tightness in the system.
A 64-year-old man from Thane was allegedly defrauded of 1.56 crore by cybercriminals using a 'digital arrest' scam, involving forged documents and constant surveillance.
'The next two to three weeks will not be decided in Washington.' 'They will be decided in Tehran, in whatever calculation Iran makes about the costs of continued resistance against the costs of appearing to have yielded.'
'Credit growth in India remains in double digits, even though corporate borrowing is subdued.' 'Corporate credit is weak because companies are cash-rich and cautious amid global uncertainty.'
The rupee witnessed its worst single-day decline in around two months since November 21, 2025, due to demand for dollars among importers, said dealers. The maturing short positions in the non-deliverable forwards market further weighed on the local currency.
Persisting uncertainties related to the US trade policies pose downside risk to the overall demand in the Indian economy while the inflation outlook for the near term has become more benign than anticipated earlier, RBI said in its latest bulletin on Thursday. In the August bulletin, the Reserve Bank of India (RBI) also said that India's sovereign rating upgrade by S&P bodes well for capital inflows and sovereign yields, going forward.
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.
About 85 per cent of the digital payment transactions take place through UPI in India, and the country can be a case study in inclusive, secure, and scalable Digital Public Platforms (DPPs), Reserve Bank Governor Sanjay Malhotra has said. He was speaking at a "High-Level Dialogue on Forging Economic Resilience through Digital Public Platforms" organised by RBI on the sidelines of the Annual Meetings of the World Bank and International Monetary Fund in Washington, DC on Tuesday.
