Andhra Pradesh and Punjab National Bank (PNB) have signed an MoU to establish the PNB Quantum Finance Hub at Amaravati Quantum Valley. This initiative aims to foster innovation and adopt next-generation technologies like AI and Quantum Computing in the banking sector, focusing on cybersecurity, fraud detection, and customer experience.
Election-related freebies and populist measures are other factors crimping the revenue profile of these states.
Eighteen of India's 28 states exceeded the fiscal deficit ceiling of 3 per cent of GSDP in FY25, a deterioration comparable to the Covid year of 2020-21, according to the Comptroller and Auditor General (CAG). The report also noted a decline in states reporting a revenue surplus, with Bihar, Mizoram, and Telangana moving into deficit.
Ten days after the expansion of the BJP government's cabinet in West Bengal, key portfolios have been allocated, with senior leader Tapas Roy taking charge of industries and journalist-turned-politician Swapan Dasgupta appointed finance minister.
A finance company in Thane, Maharashtra, has reported being defrauded of Rs 25.96 lakh by five individuals who allegedly mortgaged fake jewellery to obtain loans. Police are investigating the case, which reportedly occurred in 2025.
Israeli Prime Minister Benjamin Netanyahu announced a significant policy shift, declaring that Israel's robust economy no longer requires American financial assistance. He also reiterated strong opposition to Palestinian statehood, affirmed an aggressive national defence strategy, warned of pre-emptive strikes against Iran, and confirmed the continued military presence in southern Lebanon.
The Comptroller and Auditor General (CAG) has identified significant financial irregularities in the Maharashtra government's flagship Ladki Bahin scheme, including an excess expenditure of Rs 3,541.16 crore and the parking of Rs 15,586 crore in Virtual Personal Deposit Accounts (VPDAs) without immediate need. The report highlights deficiencies in budget estimation and financial management, recommending realistic fund assessments and strict adherence to expenditure needs.
Indian states significantly increased their reliance on market borrowings to finance gross fiscal deficits in 2025-26, with the share of market borrowings rising to 76.3 per cent, even as the weighted average cut-off yield on State Government Securities (SGS) and spreads over central government securities also increased.
AU Small Finance Bank has launched its first AI-native loan origination system, built on the Broccoli platform, in partnership with Amazon Web Services. This deployment marks a significant step towards becoming a fully AI-native bank, replacing traditional systems with a hyper-personalised sales and servicing platform.
Indian benchmark indices, Sensex and Nifty, experienced declines in early trade due to a significant surge in crude oil prices, exacerbated by escalating tensions in the West Asia. Track how Sensex, Nifty fared on July 23.
The number of individuals reporting a gross total income of 100 crore or more in their income tax returns has quadrupled to 576 in Assessment Year 2025-26, up from 142 in AY 2021-22, according to data shared in Parliament.
HDFC Bank's board has imposed a monetary penalty of Rs 1 lakh each on its Managing Director and CEO Sashidhar Jagdishan, CFO Srinivasan Vaidyanathan, and Group Head (Retail Assets) Arvind Vohra for divergence from RBI directions in the Maharashtra State Road Development Corporation (MSRDC) case.
The Supreme Court on Monday took note of setting up of a four-member SIT headed by IGP Kiran S to probe alleged embezzlement of donations at the Ram temple in Ayodhya and asked the Uttar Pradesh government to also include a forensic auditor in the probe team.
India's markets regulator, Sebi, has issued a warning to listed companies and regulated entities about an emerging cyber fraud known as the "Boss Scam." This scam involves fraudsters impersonating senior officials like CEOs or MDs to trick finance teams into transferring funds, often using advanced AI tools or malicious software. Sebi advises organisations to verify requests independently and report incidents to prevent financial losses.
The Supreme Court on Monday asked the Uttar Pradesh government to apprise it about the possibility of setting up an SIT to probe the alleged embezzlement of donations at the Ram temple in Ayodhya and cautioned the litigants not to politicise the issue.
India's passenger vehicle industry is poised for a record-breaking year in 2026, propelled by robust dispatches in the first half of the calendar year and strong demand for utility vehicles, despite facing several economic challenges.
Indian benchmark indices, Sensex and Nifty, closed higher, primarily driven by bank stocks and encouraging US inflation data, which fuelled expectations of a less aggressive Federal Reserve monetary policy. However, escalating US-Iran hostilities tempered investor sentiment, leading to some profit-taking.
The Enforcement Directorate (ED) is shifting its focus to emerging financial crimes such as cryptocurrency fraud, terror financing, cyber-enabled crimes, and narcotics trafficking, according to Director Rahul Navin. The agency reported a high conviction rate and significant asset restitution to victims of financial fraud.
Indian benchmark indices Sensex and Nifty extended their losses for the fourth consecutive session, with the Sensex declining 363.66 points and the Nifty dipping 126.65 points, primarily due to a sharp jump in Brent crude oil prices to USD 98.32 per barrel amid escalating tensions in West Asia.
Indian benchmark indices Sensex and Nifty saw a significant rebound in early trade, driven by softer-than-expected US inflation data which has reinforced expectations of a less aggressive monetary policy stance from the Federal Reserve, providing relief to global risk assets.
Parliament was informed that UPI has onboarded 55.49 crore users by June 2026, with transactions reaching 24,162 crore in volume and Rs 314 lakh crore in value in FY 2025-26. The platform, operated by NPCI, is expanding internationally through NIPL, facilitating cross-border payments and assisting other nations in building similar systems. Significant efforts are also underway by the Government, RBI, and NPCI to enhance the security and transparency of UPI transactions, including risk-based limits, security frameworks, and public awareness campaigns against cyber-crime.
LIC is the only brand in the Brand Finance India 100 2026 report that has a top five rank in both brand value and brand strength.
ICICI Bank has successfully raised $1 billion through a five-year senior unsecured US dollar bond, marking its first public dollar bond issuance since 2017 and the largest single-tranche US dollar bond issuance by an Indian issuer so far this year.
The Directorate of Revenue Intelligence has conducted a nationwide crackdown on wildlife trafficking, seizing over 440 endangered animals and 15 kg of ivory, and arresting 33 individuals involved in organised crime syndicates.
A PL Capital report projects India's LPG subsidy bill to exceed Rs 1 lakh crore in FY27, creating a significant Rs 70,000 crore gap over the Union Budget's Rs 30,000 crore allocation, driven by the government and OMCs absorbing higher fuel and LPG price increases.
Jharkhand's Finance Minister has ordered a statewide investigation into alleged fraudulent salary withdrawals from government treasuries, following reports of irregularities in multiple districts.
State Bank of India has launched a suite of AI-powered digital innovations on its YONO platform, enhancing both retail and business banking services. These new features include a 3-in-1 digital onboarding process, a sustainability tracker, integrated trade finance, and an AI virtual assistant, aiming to provide intelligent and future-ready banking experiences for its 53 crore customers.
Kerala is facing increased inflationary pressure due to recent hikes in petrol and diesel prices, according to Chief Minister V D Satheesan. The state's economy is also impacted by the decline in remittances from the Gulf and higher oil prices.
Inflows into foreign currency non-resident (bank), or FCNR (B), deposits have significantly underperformed market expectations, leading to a more than 1 per cent depreciation of the rupee against the dollar this week. Analysts point to fading RBI support measures, tepid interest due to rising global bond yields, and narrowing interest rate spreads compared to 2013 as key challenges.
FIFA President Gianni Infantino has acknowledged the possibility of expanding the World Cup to 64 teams, a move that could significantly alter the sport's economics and logistics, despite opposition from major confederations like UEFA and AFC.
The Special Investigation Team (SIT) probing the alleged embezzlement of donations at the Ram temple in Ayodhya is expected to submit its final report to the Uttar Pradesh government shortly, sources said on Thursday.
A Congress spokesperson, quoted in media reports, summed up the party's thinking by saying, 'Whenever BJP is in trouble on the ground, a new 'apolitical' or 'alternative' party appears with the same ideology and the same backers.'
Tamil Nadu Governor RV Arlekar announced that the TVK regime, led by Chief Minister C Joseph Vijay, will take steps to ensure fair financial devolution from the Centre, including pursuing the matter in the Supreme Court. The government also plans to conduct a 'Social Justice Survey' and address the state's severe financial deterioration.
The Indian government has informed the Lok Sabha that the income-tax return (ITR) e-filing portal is functioning in a 'largely stable and efficient manner' despite a significant increase in traffic during the peak filing season. However, it acknowledged transient technical issues and disclosed that contractual penalties have been imposed on Infosys for project delays and service-level agreement failures.
Hyderabad-based Midwest Ltd has become the first Indian private company to secure overseas critical mineral mines, sealing a deal with Indonesia's state-run PT Perusahaan Mineral Nasional (PERMINAS) to ensure a long-term supply of rare earths.
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.
The Gujarat Anti-Terrorist Squad (ATS) has arrested five more suspects for alleged links with a Jaish-e-Mohammed (JeM) module, claiming they were learning bomb-making techniques and planning blasts. These arrests follow an earlier bust of a JeM module, bringing the total number of individuals involved in the alleged terror plot to over a dozen. The suspects were reportedly researching explosives, procuring materials, and holding recruitment meetings.
The National Financial Reporting Authority (NFRA) has initiated a probe into Rajesh Exports following capital markets regulator Sebi's findings of Rs 15.5 lakh crore in revenue misstatements. NFRA chairperson Nitin Gupta also emphasised the critical need for genuine board independence in promoter-driven companies and human oversight in financial reporting, especially with the increasing integration of AI.
The National Financial Reporting Authority (NFRA) has initiated a probe into Rajesh Exports following capital markets regulator Sebi's findings of Rs 15.5 lakh crore in revenue misstatements. NFRA chairperson Nitin Gupta also emphasised the critical need for genuine board independence in promoter-driven companies and human oversight in financial reporting, especially with the increasing integration of AI.
A new white paper released by the Tamilaga Vettri Kazhagam (TVK) government reveals that Tamil Nadu's direct debt has nearly doubled to an alarming 10 trillion in the past five years, exposing significant fiscal strain and a substantial debt burden on every citizen.
