Unified Payments Interface (UPI) transactions in India reached a record high in March, with 22.64 billion transactions, marking a significant increase from the previous year and highlighting the growing adoption of digital payments.
The Reserve Bank of India (RBI), in its Financial Stability Report (FSR), cautioned that stress tests indicate two scheduled commercial banks (SCBs) may have to dip into their capital conservation buffers (CCBs), unless stakeholders infuse capital, under a scenario involving a gradual slowdown in domestic GDP growth and a moderate rise in inflation, with limited policy easing space available to the central bank.
Despite corporate bond yields hardening by 20-25 basis points, Indian corporates are not warming up to bank funding for their capital expenditure needs as bank lending rates remain elevated due to the higher cost of liabilities, compared to current rates in the debt capital market.
The CBI has filed a chargesheet against a man accused of defrauding a retired banker of Rs 23 crore in a sophisticated digital arrest scam involving impersonation of law enforcement and judicial authorities.
The Reserve Bank of India (RBI) announced that it processed 99.8% of applications within the prescribed timeline under its Citizen's Charter in February, demonstrating high efficiency in its operations.
Among the Sensex constituents, Asian Paints, Tech Mahindra, HCL Technologies, Tata Steel, Maruti Suzuki India, Sun Pharmaceuticals, Tata Consultancy Services, ICICI Bank, Bajaj Finance, UltraTech Cement, Mahindra & Mahindra and Tata Motors Passenger Vehicles were the laggards. However, Eternal, Titan, Adani Ports, Bharat Electronics Ltd, State Bank of India, Bajaj Finserv, NTPC and Bharti Airtel were among the gainers.
'Corporates now have multiple funding sources beyond banks, and many are sitting on large cash reserves.'
The Reserve Bank on Monday superseded the boards of Srei Infrastructure Finance as well as Srei Equipment Finance, citing concerns over governance and payment defaults, and decided to refer the two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.
'It is a tradeoff between convenience and fraud prevention.'
The NBFC was registered on December 1998, with an office in Lucknow.
Fixed deposits from nationalised banks delivered higher returns than equities, outperforming both inflation and stock market benchmarks.
Maharashtra's Governor and Chief Minister, along with other state leaders, paid tribute to Dr. B.R. Ambedkar on his 135th birth anniversary, recognising his profound impact on social justice, equality, and the Indian Constitution.
'We are profoundly energy-dependent on the Gulf. That dependency must now be redirected towards the United States, because we require American permission to procure oil.' 'We additionally require Iranian permission to acquire oil from that source. So India now has to seek two separate permissions merely to secure its energy supply.' 'Should we be compelled to source from America, or from Venezuela -- which is, in effect, American-controlled supply -- that will inevitably carry a price premium, an elevated shipping cost, and a considerably extended delivery timeline, given the distances involved.'
With rising credit demand, cleaner balance sheets, and renewed investor confidence, banks are positioned at the forefront of the market rally. From major players like ICICI and HDFC to broader policy shifts, there's much driving this momentum.
With rising credit demand, cleaner balance sheets, and renewed investor confidence, banks are positioned at the forefront of the market rally. From major players like ICICI and HDFC to broader policy shifts, there's much driving this momentum.
With rising credit demand, cleaner balance sheets, and renewed investor confidence, banks are positioned at the forefront of the market rally. From major players like ICICI and HDFC to broader policy shifts, there's much driving this momentum.
The Election Commission has warned against any lapses in maintaining law and order ahead of the West Bengal Assembly elections, questioning the absence of a Narcotics Advisory Committee in the state and directing strict monitoring of financial transactions.
Among Sensex shares, Adani Ports, Reliance Industries, Infosys, ICICI Bank, Eternal, BEL, HDFC Bank, Power Grid, ITC and Sun Pharmaceutical were the major laggards. However, Titan, Maruti, Trent, Bharti Airtel, Bajaj Finance, Tech Mahindra, State Bank of India, L&T, HCL Technologies and NTPC were among the gainers.
The BJP-led government in Bihar secured a vote of confidence in the state assembly, with Chief Minister Samrat Choudhary pledging economic development and significant investments. The motion was passed amidst heated debates and accusations between the ruling NDA and the opposition, highlighting political tensions and differing views on issues like women's reservation.
The Indian banking sector could be due for a rise in profitability after several quarters of net interest margin (NIM) compression. The Q2FY26 results suggest NIMs have bottomed out.
As deposit growth lags credit expansion, Indian banks face shrinking low-cost Casa inflows, rising funding costs, and structural shifts driven by UPI, e-Kuber, and digital savings trends, points out Tamal Bandyopadhyay.
Petroleum Sports Promotion Board (PSPB) and Reserve Bank of India (RBI) will compete in the final of the 87th UTT Senior National Table Tennis Championships after defeating Uttar Pradesh and Karnataka respectively.
Remittances from West Asia in March rose sharply amid the conflict in the region, with industry insiders estimating inflows to be 20-30 per cent higher than what is usual in a month.
"It is quite possible that the rates will remain low in the near to medium term, but that will depend on how conditions evolve," said RBI Governor Sanjay Malhotra.
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.
From the Sensex firms, Eternal, NTPC, Kotak Mahindra Bank, ICICI Bank, Bajaj Finserv, Power Grid, Trent and HDFC Bank were among the major laggards. However, Bharat Electronics, Larsen & Toubro, Tata Consultancy Services, ITC and State Bank of India were the gainers.
Payments banks have urged the Union finance ministry to increase their deposit limit for each account to Rs 5 lakh, according to a source who participated in a meeting, chaired by the Department of Financial Services Secretary M Nagaraju, in New Delhi. At present, they can accept deposits of up to Rs 2 lakh.
Unified Payments Interface (UPI) transactions reached a record high in March, driven by festivities and the financial year closure, according to the National Payments Corporation of India (NPCI).
State-owned Bank of Baroda (BoB) on Sunday said it has cut its benchmark lending rate linked to repo rate by 50 basis points in line with the RBI's rate reduction. Meanwhile, private sector HDFC Bank reduced its Marginal Cost of Funds-based Lending Rates (MCLR) by 10 basis points across tenure, which will benefit borrowers whose loans are linked to this benchmark.
The RBI added roughly 3 tonnes in 2025, taking its gold reserves to 879 tonnes as of January 31, 2025.
The ratio of MF assets under management to total bank deposits has more than doubled in 10 years.
Yes, the entry of private bankers, particularly with global experience will add value to PSBs, points out Tamal Bandyopadhyay.
The Haryana Police have launched 'Abhedya', a mobile application designed to curb cybercrime, extortion, and threatening calls. This initiative makes Haryana the first state in India to introduce such a measure, aiming to protect citizens from various forms of digital harassment.
Tamil Nadu Chief Minister M K Stalin has claimed victory for the state after the Constitution Amendment Bill was defeated in the Lok Sabha. Stalin criticised the Centre's handling of the Women's Reservation Bill and delimitation process, accusing the BJP of prioritising political gain over fairness and consultation.
Prime Minister Narendra Modi criticised the ruling TMC in West Bengal, alleging corruption and appeasement politics, while promoting the BJP's development agenda ahead of the assembly elections.
Finance Minister Nirmala Sitharaman on Monday clarified in the Lok Sabha that India's rising gold reserves, including those held by the Reserve Bank of India (RBI), is not intended to replace any international currency.
'Whether you will bring this down and cause hurt to senior citizens, who are probably living on that little interest rate that they earn out of it... But equally, if I just look at the kitty of the National Small Savings Fund, it is from that same kitty that I'm borrowing.'
IRCTC is expanding its payments arm, IRCTC Payments, to handle transactions across its ticketing platform and tap government clients, aiming to scale its annual payment processing to approximately 1 trillion.
The Supreme Court of India will hear a suo motu case concerning victims of digital arrest, a growing form of cybercrime where fraudsters impersonate officials to extort money from victims.
The Confederation of Indian Industry (CII) has proposed a 20-point policy agenda to the finance ministry, including a conflict-linked emergency credit line guarantee scheme and tax rationalisation on energy inputs, to support MSMEs, exporters, and energy-intensive industries affected by the ongoing West Asia war.
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