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 government on Friday received financial bids for the strategic disinvestment of IDBI Bank, the Department of Investment and Public Asset Management (Dipam) said in an official statement on X.
Airpay Payment Services has partnered with Maharashtra State Co-operative Bank (MSCB) to enable UPI-based digital payments across the lender's network in Maharashtra, aiming to accelerate financial inclusion in rural areas.
The proposed solution is a one-hour delay for digital transactions exceeding Rs 10,000, particularly when the transfer is made to a new or unverified beneficiary. The idea is simple -- give users a window to reconsider, detect fraud or alert their bank before the funds are irretrievably transferred.
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.
Unified Payments Interface (UPI) transactions in India reached a record high in March, driven by increased adoption and global expansion. The system now accounts for 85% of digital transactions in India and is live in eight countries.
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.
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.
"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.
Uncertainties stemming from the West Asia crisis and its potential impact on inflation and economic growth were key factors in the Reserve Bank of India's Monetary Policy Committee (MPC) decision to maintain the status quo on interest rates, according to the recently released MPC meeting minutes.
Even if there is an early agreement on a cessation of hostilities in West Asia, the price shock will not go away easily, points out A K Bhattacharya.
The West Bengal cabinet has decided to discontinue assistance-oriented schemes based on religious categorisation for Imams, muezzins and purohits from June. The cabinet also approved the 'Annapurna' scheme of Rs 3,000 monthly support to women from June 1, and granted in-principle consent for their free travel in state-run buses.
Only bona fide victims would be compensated by banks within five days of receiving the complaint.
India's forex reserves dropped $5.62 billion to $689.73 billion for the week ended October 31, the Reserve Bank of India said on Friday. The overall reserves had declined by $6.92 billion to $695.35 billion.
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.
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 Indian economy is growing at a robust pace, driven by strong domestic demand, low inflation, and the healthy balance sheets of banks, said a Reserve Bank report released on Wednesday.
From April 1, 2026, the Reserve Bank of India's new authentication directions modernise how every digital payment you make must be verified -- and place the burden of security squarely on your bank, not on you.
The Reserve Bank on Tuesday proposed greater flexibility to authorised persons to undertake foreign exchange transactions for hedging their exposures, balance sheet management and market-making, as well as to ease reporting obligations, after a review of the current regulations.
The rupee plunged to a fresh low of 93.72 against the dollar on Friday, falling 1.15 per cent in a single session - its sharpest one-day decline since February 24, 2022 - as elevated crude oil prices and strong dollar demand from oil-marketing companies and foreign portfolio investors (FPIs) weighed on the currency.
If Tata Sons is listed, the special veto rights of Tata Trusts, under Article 121A, may have to go away.
In a move aimed at curbing the mis-selling of financial products, the Reserve Bank of India (RBI) has proposed banning incentives paid to bank staffers by third parties such as insurance companies and mutual fund houses for selling their products and services. It has also proposed that banks must ensure their user interfaces do not deploy "dark patterns" to lure customers.
'We are staying away from making forward-looking statements on when we will reach 1 trillion, etc. But growth will be rapid; it's only a matter of time.'
Pakistan's skewed foreign reserves got a major boost after Saudi Arabia pledged an additional $3 billion in deposits while extending its existing $5 billion facility for a further three years.
'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.'
With duties at 15%, GST at 3%, and making charges running as high as 20% -- the gap between a smart purchase and a careless one can easily be Rs 30,000 to Rs 50,000 on every Rs 1 lakh invested. And most of that gap is entirely avoidable. Ramalingam Kalirajan explains the math.
India's wholesale price inflation surged to 3.88 per cent in March, marking the fifth consecutive monthly increase, primarily driven by a sharp rise in crude petroleum, natural gas, and manufactured items amidst the West Asia crisis.
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).
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.
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.
India's forex reserves jumped by another $14.36 billion to a new all-time high of $723.77 billion during the week ended January 30, the Reserve Bank said on Friday.
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.
A foreign brokerage warns that sustained crude oil prices above USD 100 per barrel could push India's inflation above the RBI's tolerance level, potentially triggering interest rate hikes.
'In practical terms, a Master Circular is not merely desirable; it is a necessary transition tool to ensure that the promise of simplification under the Income-Tax Act, 2025, is fully realised.'
The Indian government has extended the Reserve Bank of India's (RBI) mandate to maintain retail inflation at 4 per cent, with a tolerance band of 2 per cent on either side, for another five years until March 2031.
BJP president Nitin Nabin has accused West Bengal Chief Minister Mamata Banerjee and opposition parties like the Congress for the setback in implementing women's reservation in legislatures.
Indian benchmark indices Sensex and Nifty experienced a significant slump in early trade, driven by a sharp surge in crude oil prices above USD 120 per barrel, weak global market trends, and continued foreign fund outflows.
The rupee declined 31 paise to settle at 90.65 against the US dollar on Friday, weighed down by geopolitical uncertainties over the US-Iran talks, and a sharp rise in global crude oil prices.
Prime Minister Narendra Modi has accused the Trinamool Congress (TMC) of betraying women by obstructing the passage of the Constitution (131st Amendment) Bill, 2026, which aimed to reserve 33 per cent of seats in Parliament and state assemblies for women. Modi asserted that women in West Bengal would punish the TMC in the upcoming assembly elections.
The country's banking system, while remaining "resilient" with bad loans at over a decade low and strong capital buffers, will continue to face intense competition from non-bank sources for resource mobilisation, said the Reserve Bank of India's (RBI's) Trend and Progress of Banking in India 2024-25 report.
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