Only bona fide victims would be compensated by banks within five days of receiving the complaint.
India's net foreign direct investment (FDI) recorded a positive $4.6 billion in February, breaking a six-month streak of negative figures, attributed to increased gross inflows and reduced repatriations, according to the Reserve Bank of India.
RBI governor D Subbarao, in the second quarterly review of the monetary policy in October, had said there is need to increase provisioning against bad assets to not less than 70 per cent by September 2010.
Bankers and other stakeholders are now almost certain that the Reserve Bank of India (RBI) will increase the key policy rate, or the repo rate, by 25 basis points (bps) on Tuesday.
The much-awaited board meeting of Tata Sons did not discuss listing of the holding company or a third term for Chairman N Chandrasekaran.
'We strongly believe that anyone with capability and a strong work ethic should have a chance at the top job.'
India's forex reserves jumped by $1 billion to $687 billion during the week ended December 5, the RBI said on Friday. In the previous reporting week, India's forex reserves had dropped by $1.88 billion to $686 billion.
India's gross savings rate is projected to be nearly 47 basis points higher in FY25 than previously estimated, following the Securities and Exchange Board of India's (Sebi) revision of the methodology for calculating household savings routed through the securities market.
As the rupee weakens, wealthy families are accelerating investments in global assets.
India's total automobile retail sales recorded a significant 9.55 per cent year-on-year growth in May, reaching an all-time high of 25,31,067 units, driven by strong performances in three-wheelers, passenger vehicles, and tractors, despite prevailing heatwave conditions and fuel price pressures.
Cleaner balance sheets, regulatory support and strong growth prospects helped Indian private banks attract over $6 billion in foreign capital, with more deals expected in 2026.
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.
Shareholder payouts by India Inc, including dividends and buybacks, increased by 2.2 per cent year-on-year in FY26 to $5.06 trillion, but this growth lagged the 18.8 per cent rise in reported net profit for the third consecutive year, leading to the lowest dividend payout ratio in 12 years.
Delay in the tapering of the $85 billion-a-month bond buyback programme by the US Fed (tapering will start from January 1) gave the country time to replenish the forex reserves and rein in the high current account gap.
Reserve Bank of India (RBI) Governor Sanjay Malhotra stated that preventing second-round effects of supply shocks, where inflation expectations rise due to prolonged disruptions, is the primary role of monetary policy. He also defended the RBI's foreign exchange market interventions, asserting it did not commit to an 'indefensible peg'.
Two-factor authentication for all digital transactions, including UPI, is now mandatory in India, as per RBI guidelines, to enhance security and curb fraud.
India's forex reserves were up by $4.84 billion to $702.78 billion for the week ended June 27, the Reserve Bank of India said on Friday. In the previous reporting week, the foreign exchange reserves had dropped by $1.01 billion to $697.93 billion.
The central bank cut SLR to 23 per cent from 24 per cent.
India's forex reserves dropped by $1.01 billion to $697.93 billion for the week ended June 20, the Reserve Bank of India said on Friday. In the previous reporting week, the reserves had jumped by $2.29 billion to $698.95 billion.
The case for long-term investment in gold, however, remains intact.
'The MPC is likely to prioritise the key mandate, which is inflation, while relying on other instruments to stabilise the currency and bond markets.'
'When we start describing somebody as an enemy that is the start of politics and emotion after which no business can take place.' 'We need to get out of this, allow Indian businessmen to do business with China.'
The top agenda of the meeting includes a review of Tata Trusts representation on the Tata Sons board.
The government plans to expand its central bank digital currency (CBDC)-based food subsidy programme to Chandigarh, Dadra and Nagar Haveli, and Daman and Diu by June, following its implementation on a pilot basis in Gujarat and Puducherry, official sources said.
The University of Chicago has conferred its Alumni Award for Professional Achievement to India's former chief economic adviser Krishnamurthy V Subramanian, the first Indian economist to receive the honour since 1941.
The Supreme Court has urged the Kapur family, including Rani Kapur and Priya Kapur, to resolve their dispute over the family trust through mediation, appointing a former Chief Justice to oversee the process.
India's forex reserves dropped by $1.88 billion to $686 billion during the week ended November 28, the RBI said on Friday. In the previous reporting week, the overall reserves had declined by $4.47 billion to $688 billion.
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.
Benchmark lending rates unchanged with repo rate at 5.25%
'First-time applicants may witness longer approval times or higher rejection rates and requests for more documentation.'
Gwadar is viewed as a critical pearl in China's maritime strategy as it would give a permanent logistical footprint near an important choke point - the Strait of Hormuz and the oil rich Persian Gulf, explains Commodore Venugopal Menon (retd).
The Reserve Bank of India (RBI) has proposed several measures to develop a more conducive framework for the long-term growth of Prepaid Payment Instruments (PPIs), including enhanced transaction security and clearer rules on refunds and grievance redressal.
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.
Chief Justice of India expresses concern over the increasing number of digital arrest scams, highlighting a recent case where an elderly woman was defrauded of her retirement benefits.
Its strength is set to increase by 3 seats once the current round of Rajya Sabha polls for 27 seats are concluded on June 28.
'India has initiated a bear market and we will still go lower. It has nothing to do with the economy.'
Pakistan has received the second and final tranche of USD 1 billion from Saudi Arabia, completing a USD 3 billion aid package aimed at boosting its foreign reserves, the state bank said.
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.
Haryana Chief Minister Nayab Singh Saini affirmed the government's commitment to fulfilling its promises to the Dhanak community by 2029, highlighting welfare measures and initiatives already undertaken.
India's forex reserves declined $4.47 billion to $688.104 billion during the week ended November 21 due to a steep decrease in the value of gold reserves, the RBI said on Friday.
