The Reserve Bank of India's concessional swap facility, designed to boost foreign currency inflows, has successfully attracted USD 40.82 billion by July 31, 2026, with a significant portion coming from Foreign Currency Non-Resident (Bank) deposits.
Tata Trusts, the majority shareholders of Tata Sons, have proposed merging two operating companies, Tata Electronics Systems Solutions Pvt Ltd (TESS) and Tata Consulting Engineers (TCE), with Tata Sons. This restructuring aims to shed Tata Sons' classification as a non-banking financial company (NBFC) and a core investment company (CIC), thereby allowing it to retain its status as an unlisted private company and resolve ongoing disputes regarding its future ownership.
India's foreign exchange reserves increased by $9.9 billion to $716.9 billion for the week ended August 14, as reported by the Reserve Bank of India (RBI). This surge follows a previous jump of $14.14 billion in the week prior, indicating a robust recovery after a period of decline earlier this year.
India's foreign exchange reserves decreased by $711 million to $681.61 billion for the week ending June 5, primarily driven by a significant reduction in foreign currency assets, according to the Reserve Bank of India (RBI).
India's foreign exchange reserves increased by USD 1.08 billion to USD 676.237 billion for the week ended July 17, primarily due to a significant rise in foreign currency assets, despite a drop in gold reserves.
The Indian stock market experienced a significant downturn, with the Sensex crashing over 1,000 points and the Nifty hitting a fresh 52-week low, driven by sustained selling from foreign institutional investors, the RBI's monetary policy tightening, and elevated Brent crude prices.
Finance Minister Nirmala Sitharaman has urged the Reserve Bank of India to accelerate its central bank digital currency initiatives, emphasising the need to sharpen capabilities with the digital rupee amidst rapid advancements in tokenisation, agentic AI, and quantum computing. She also highlighted critical concerns regarding cybersecurity, warning that autonomous AI systems are evolving rapidly and require robust safeguards. Sitharaman proposed a federated industry platform to give India's technology ecosystem a collective international voice.
India's foreign exchange reserves saw a significant increase of USD 6.295 billion, reaching USD 696.988 billion for the week ending May 8, as reported by the Reserve Bank of India.
Indian benchmark indices, Sensex and Nifty, saw early gains driven by lower crude oil prices and buying in Reliance Industries, even as the Reserve Bank of India maintained its benchmark policy rate for the fourth consecutive meeting, reinforcing confidence in the domestic economy.
Maharashtra is grappling with an escalating drought crisis, with 305 talukas now declared drought-hit, prompting the state government to announce Rs 5,000 in financial aid for farmers before Diwali and extend comprehensive relief measures.
Bank fraud is no longer just an external cyber threat -- insiders with legitimate access can exploit banking systems, trusted credentials and institutional blind spots to quietly siphon money.
Chief Economic Advisor V Anantha Nageswaran stated that the second half of the current fiscal year (FY27) is expected to be challenging due to increased downside risks to global growth and rising interest rates worldwide.
The Reserve Bank of India has marginally increased its GDP forecast for the current fiscal to 6.7 per cent while slightly lowering the inflation projection to 5 per cent. The central bank noted that while domestic economic activity shows resilience, global turbulence, particularly re-escalating conflicts and volatile oil prices, continues to pose risks to the inflation outlook.
Indian equities, particularly the Nifty 50, have significantly underperformed their Asian and global counterparts over the past year, with the index down 10.6 per cent. This lag is attributed to factors like rising global oil prices, rupee depreciation, and a lack of participation in the global chipmaker rally that boosted markets like South Korea and Taiwan.
India's deposit growth has reached a 15-year high of 17.8 per cent, primarily driven by a surge in foreign currency non-resident (bank), or FCNR(B), deposits. This influx of funds is expected to lead to a softening of corporate loan rates as banks seek to deploy their excess liquidity.
Equitas Small Finance Bank (SFB) Managing Director and CEO P N Vasudevan stated, "We may end up applying within a year" for a universal banking licence, while also targeting a nearly threefold increase in advances to Rs 1.2 trillion over the next five years.
The CBI has filed a closure report in the 2002 disinvestment of Hindustan Zinc Ltd, stating that allegations of irregularities could not be substantiated. This comes despite a 2022 Supreme Court directive by then-CJI D Y Chandrachud to register a regular case, citing sufficient material and concerns over undervaluation and the role of a global advisor. The special court will now decide on the report.
A sophisticated cross-bank syndicate is systematically defrauding non-resident Indians (NRIs) and elderly citizens by exploiting their fixed deposits through forged documents and fictitious loans, often involving colluding bank employees and real estate deals.
Non-resident Indian (NRI) deposit schemes witnessed a staggering 678.2 per cent increase, reaching $36.24 billion in the April-July period of FY27, primarily driven by strong FCNR(B) deposit flows and a concessional swap facility introduced by the RBI.
The CBI has registered a case against Reliance Capital Limited (RCAP), its former chairman Anil Ambani, and others for an alleged Rs 2,684.57-crore fraud involving investments made by the Life Insurance Corporation of India (LIC). Anil Ambani has denied any wrongdoing. The LIC alleges criminal conspiracy, misrepresentation, and fraudulent diversion of funds.
A 25-basis-point increase would restore some real monetary restraint when expected inflation has risen, liquidity remains easy and growth is strong, points out Amarendu Nandy.
Tata Capital remains confident in its 23-25 per cent growth guidance, driven by strong momentum in Retail and SME segments, despite facing pressures from rising funding costs and potential impacts from new RBI regulations on revolving credit.
Reserve Bank of India (RBI) Deputy Governor Rohit Jain has warned that financial institutions' increasing reliance on a small number of common technology providers, including cloud and AI model providers, could create a new source of systemic risk. He highlighted 'speed, concentration and opacity' as key risks, noting that a disruption at one provider could rapidly spread across multiple institutions, amplifying existing financial risks.
Bank credit to industry in India surged by 20 per cent year-on-year in July, significantly accelerating from the previous year, driven by strong expansion in sectors like engineering, gems and jewellery, and petroleum-related industries, according to the Reserve Bank of India (RBI). However, growth in gold loans, while still expanding, saw a sharp moderation.
Gold futures saw a significant rise for the second consecutive day, driven by strong overseas market rallies, increased safe-haven demand due to geopolitical uncertainties, and a weaker US dollar. This surge coincided with the Reserve Bank of India's decision to maintain its repo rate, reflecting a focus on growth amidst global inflation concerns and easing oil prices.
Potential external candidates include Anup Bagchi, Rajiv Sabharwal and CSB Bank's Pralay Mondal.
The Reserve Bank of India (RBI) has removed the prior approval requirement for non-bank entities to form tie-up arrangements for facilitating outward remittance services through banks in India, aiming to streamline the process and enhance efficiency.
The Indian government has mandated that banks and payment providers cannot levy charges on UPI transactions up to Rs 2,000 or on payments made via RuPay debit cards. This directive follows an amendment to the Payment and Settlement Systems Act, 2007, aiming to sustain and expand the digital payments ecosystem.
India's foreign exchange reserves increased by USD 964 million to USD 675.157 billion in the week ending July 10, according to the Reserve Bank of India.
Indian benchmark indices, Sensex and Nifty, closed nearly flat on Thursday, influenced by the US Federal Reserve's interest rate hike and indications of further monetary tightening. Despite some intraday gains, caution prevailed, with foreign institutional investors continuing to offload equities. Meanwhile, the National Stock Exchange of India's (NSE) mega initial public offering opened for subscription, garnering 39 per cent subscription on its first day.
Listing, according to Noel Tata, will fundamentally change how the company and the group have been working over the past 150 years.
Jio Platforms, the digital arm of Reliance Industries Ltd (RIL), is launching its initial public offering (IPO) with a price band of 1,065-1,119 a share, aiming to make RIL a net-debt-free company and create long-term shareholder value.
The Reserve Bank of India (RBI) maintained its key policy rates for the fourth consecutive time, keeping the repo rate at 5.25 per cent, while the benchmark BSE Sensex closed 152 points higher in a volatile session, recovering from an intraday dip.
Even as lawyers on both sides study the pros and cons of a court battle, there are unanswered questions: When did Tata Trusts review its resolution of 2025 on backing Chandrasekaran for a third term?How will the shareholders of Tata Sons respond on listing and the leadership issue?
The Supreme Court has refused to grant an interim stay on the imposition of Merchant Discount Rate (MDR) on UPI person-to-merchant transactions exceeding Rs 2,000, which is set to take effect from October 15. The court has agreed to examine the challenge to this new fee and has issued notices to the Centre, RBI, and NPCI, seeking their responses within four weeks. A Public Interest Litigation (PIL) argues that the levy lacks statutory safeguards, transparency, and public consultation, and could adversely affect merchants and consumers.
'Banking is the only sector that can see double-digit growth in FY27.'
Inflows into non-resident Indian (NRI) deposit schemes decreased by 23.24 per cent to $2.78 billion during the first quarter of FY27, down from $3.61 billion in the previous year, according to Reserve Bank of India (RBI) data.
The Indian government has approved the introduction of one billion polymer banknotes in Rs 10 and Rs 20 denominations for field trials, aiming to enhance durability. This move comes as the Finance Minister also addressed Parliament on declining retail inflation, GST reforms, and other fiscal measures taken to support the economy and household consumption.
India's foreign exchange reserves increased by USD 2.362 billion to reach USD 703.308 billion for the week ending April 17, as reported by the Reserve Bank of India (RBI).
A high-level committee, including representatives from banks and payment associations, is set to decide on Merchant Discount Rate (MDR) for UPI transactions exceeding Rs 2,000 to merchants. While person-to-person and person-to-merchant transactions up to Rs 2,000 remain free, the move follows a recent amendment to the Payment and Settlement Systems Act, sparking debate and clarification from the Finance Minister that only certain high-value merchant transactions might incur charges.
