Venu Srinivasan, a trustee and Tata Sons nominee director, has requested a regulatory inquiry into the governance of the Sir Dorabji Tata Trust, one of the charitable entities controlling 66 per cent of Tata Sons, citing concerns over trustee appointments and the trusts' involvement in commercial affairs.
The Reserve Bank of India (RBI) has granted approval for UAE-based Emirates NBD (ENBD) PJSC to acquire up to a 74 per cent stake in RBL Bank for $3 billion, marking the largest foreign investment ever in a domestic Indian bank.
RBI says polymer notes have a significantly longer lifespan, potentially reducing printing costs and replacement frequency.
'Every period of excessive optimism eventually gives way to a correction, while periods of extreme pessimism often create the best investment opportunities.'
'You can't have a runaway board that takes decisions against the active disagreement of the 66 per cent shareholder.'
'You can't have a runaway board that takes decisions against the active disagreement of the 66 per cent shareholder.'
The Payments Council of India has confirmed that Unified Payments Interface (UPI) services will continue to be free for consumers and small merchants, despite a recent Lok Sabha Bill. This clarification addresses concerns about potential charges, emphasising that while a sustainable financial model for UPI infrastructure is being developed, transaction charges will not be passed on to users or small businesses.
'Nitishji as CM never supported the UCC and publicly expressed his strong reservations over UCC.'
The NBFC was registered on December 1998, with an office in Lucknow.
The Indian banking system's net liquidity surplus has reached a four-year high of Rs 4.57 trillion, driven by maturing government securities, with further maturities expected to push the surplus to around 5 trillion.
For millions of Indians, this number has become one of the most important financial indicators. It can influence not only whether a bank approves a loan but also the interest rate you pay, the credit limit you receive and, in some cases, how quickly your application is processed.
Kerala Police chief Ravada Chandrasekhar highlighted cyber fraud as a serious social challenge, particularly targeting youth, during the inauguration of 'RBI Reelathon 2026'. This multi-phase awareness campaign by the Reserve Bank of India aims to engage college students in combating cyber financial frauds through creative content creation and timely reporting.
A Bank of Baroda employee in Ahmedabad has been arrested for allegedly stealing Rs 8.7 crore from an RBI currency chest and laundering the money into properties and cryptocurrency.
The Indian government has clarified that consumers will not be charged for UPI transactions, and most merchant transactions will also remain free. This comes amidst speculation following an amendment to the Payment and Settlement Systems Act, 2007. Any future merchant discount rate (MDR) would be nominal, threshold-based, and aimed at ensuring UPI's long-term sustainability and infrastructure development.
'Listing leads to greater transparency and shareholder oversight.'
Reserve Bank on Friday said it has imposed a penalty of Rs 1 crore on State Bank of India (SBI) for deficiencies in regulatory compliance. The penalty has been imposed by an order dated November 16, 2021, Reserve Bank of India (RBI) said in a statement. According to the central bank, Statutory Inspections for Supervisory Evaluation (ISE) of SBI was conducted with reference to its financial positions as on March 31, 2018 and March 31, 2019.
Governor: Simplistic narrative, questionable historical accuracy, underwhelming production quality, notes Sukanya Verma.
The Supreme Court has directed the Central Bureau of Investigation (CBI) to examine all six allegations of financial irregularities levelled by the Enforcement Directorate against Sameer Gehlaut, former chairperson of Indiabulls Housing Finance (IHFL), and five corporate groups, following repeated criticism of investigating agencies for lack of progress.
In essence, Tata Sons will continue to be a CIC, whether registered or unregistered. It will have to follow the 90:60 principle.
If it qualifies as belonging to the upper layer, public listing will be one of the regulatory requirements. However, if it qualifies as 'unregistered CIC', it will escape from prudential regulation, explains Tamal Bandyopadhyay.
Lack of women in Karnataka's new council of ministers has put the spotlight once again on women's under-representation in politics and policy.
'You have to get private investment to somewhere between 35% to 36% of GDP. It is hovering about 30%-31%.'
Reliance Industries Ltd reported a 12.5 per cent fall in its March quarter net profit, primarily impacted by the global energy crisis affecting its oil and chemicals business, while its consumer-facing Jio Platforms unit saw a 13 per cent increase in profit after tax.
The United States Trade Representative (USTR) has expressed concerns that India's Digital Personal Data Protection (DPDP) Act, particularly the lack of a deemed consent mechanism for credit information companies, and the Information Technology (IT) Rules of 2021, along with frequent internet shutdowns, could negatively impact the ability of US companies to operate and trade in India.
Underlining that students are the "architects of India's future," President Droupadi Murmu on Friday said the government is taking comprehensive steps to reform public examinations to completely curb paper leaks and unfair means, making the system transparent, secure, and trustworthy.
The Bombay High Court has directed HDFC Bank to refund Rs 38 lakh to a Pune businessman who lost the amount in a digital fraud, citing the account holder's lack of fault and RBI guidelines on customer protection.
The Shri Ram Janmabhoomi Teerth Kshetra Trust on Wednesday deferred the selection of its first chief executive officer (CEO) by a month after receiving 5,200 applications for the post and decided to appoint a secretary in the interim to meet growing administrative requirements.
Beginning next month, a bank customer can opt for up to four nominees in her or his account with a view to ensure uniformity, and efficiency in claim settlement across the banking system. The key provisions relating to Nomination under the Banking Laws (Amendment) Act, 2025 will come into effect from November 1, 2025, a finance ministry statement said on Thursday.
It's not about how much you earn -- it's about how you borrow and repay.
The Supreme Court has ruled that borrowers are not entitled to a personal hearing before banks classify their loan accounts as "fraud" under RBI directions, clarifying that a written response to a show-cause notice and access to the forensic audit report (with redactions) are sufficient for natural justice.
A penalty of Rs 91 lakh has been imposed on HDFC Bank for violating certain provisions of the Banking Regulation Act, the Reserve Bank said on Friday. The penalty has been imposed on the private sector lender for deficiencies in statutory and regulatory compliance, including those related to Know Your Customer (KYC).
Customers must report the fraud both to their bank and to the National Cyber Crime Reporting Portal or Helpline 1930 within five calendar days of the occurrence of the fraudulent transaction.
The Reserve Bank on Monday superseded the boards of Srei Infrastructure Finance as well as Srei Equipment Finance, citing concerns over governance and payment defaults, and decided to refer the two NBFCs for resolution under the insolvency law. This is only the second time in as many years that the Reserve Bank of India (RBI) is referring entities for the resolution process under the Insolvency and Bankruptcy Code (IBC) after taking first ever such step in the case of DHFL back in 2019. Superseding the boards of the crisis-hit Srei Infrastructure Finance Limited (SIFL) and Srei Equipment Finance Limited (SEFL), the RBI has appointed Rajneesh Sharma, former Chief General Manager of Bank of Baroda as the administrator to manage the affairs of the two companies.
A US federal judge has permanently dismissed the criminal securities-fraud case against Adani Group chairman Gautam Adani and his nephew Sagar, closing nearly two years of prosecution without a trial. Gautam Adani stated, "Truth has prevailed," in response to the ruling.
Back in March this year, when the Reserve Bank of India stepped in with a cap of 60 per cent on the loan-to-value ratio for gold loan non-banking financial companies, it said it was acting to pre-empt systemic risks and to safeguard public funds.
Report by March 31; banks' gold coin sales, wealth management biz also under scanner.
The Indian equity market is set for an event-heavy week, with analysts pointing to the Reserve Bank of India's (RBI) interest rate decision, developments in the US-Iran situation, and crude oil prices as the primary determinants of market trends.
The Reserve Bank of India (RBI) and the central government have introduced a package of measures, including tax exemptions for FPIs on government securities and a concessional foreign-exchange swap facility, aiming to attract up to $50 billion in foreign capital. This initiative is designed to strengthen India's balance of payments and potentially cover the projected BoP gap for FY27.
The Reserve Bank will hold a special meeting of its rate-setting committee on November 3 to prepare a report for the government on why it failed to keep retail inflation below the target of 6 per cent for three consecutive quarters since January. The six-member Monetary Policy Committee (MPC) headed by RBI Governor Shaktikanta Das will prepare the report on reasons for failure to meet the inflation target as well as the remedial measures the central bank is taking to bring down prices in the country. "Under the provisions of Section 45ZN of the Reserve Bank of India (RBI) Act 1934... an additional meeting of the MPC is being scheduled on November 3, 2022," RBI said in a statement on Thursday.
The Reserve Bank of India (RBI) has projected a 6.9 per cent GDP growth for the current financial year, citing concerns over commodity prices and supply chain disruptions stemming from the West Asia crisis.
'If the war continue for a longer period of time, it is just a matter of time before the government will pass on some of the price increases.'
