The RBI clarification followed media reports quoting a reply to a Right to Information application that suggested the apex bank has not issued any order for mandatory Aadhaar linkage with bank accounts.
The government is planning a postal logistics infrastructure upgrade for India Post to modernise parcel facilities, aligning them with those in developed nations, according to Communications Minister Jyotiraditya Scindia.
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.
The CBI has registered an FIR to investigate the alleged embezzlement of 550 crore from Haryana government accounts held with IDFC First Bank, following a referral from the state government.
Delhi Police have arrested two individuals from Rajasthan for allegedly defrauding a Delhi resident of over 21 lakh through a high-return online investment scam. The accused lured the victim with promises of lucrative returns and prepaid tasks.
Fintech giant Paytm reports a consolidated profit of Rs 183 crore in Q4 FY26, marking a significant turnaround driven by its core payments business, growth in loans, and consumer-side profitability. The company is also prioritising investments in AI and has ruled out applying for an NBFC licence.
Cyber intelligence firm CloudSEK reports that online fraudsters are using a new toolkit called 'Digital Lutera' to bypass security features of UPI apps and carry out fraudulent financial transactions.
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.
S&P Global Ratings warns that a sustained rise in crude oil prices to $130 per barrel could significantly slow India's economic growth, weaken fiscal metrics, and strain corporate and banking sector performance, potentially reducing growth by up to 80 basis points.
The Reserve Bank of India (RBI) net-bought $7.4 billion from the spot foreign exchange market in February, its highest buy since March 2025, before heavily intervening by selling dollars in March as the rupee declined over 4 per cent following a spike in crude oil prices.
'Even last year, when India bought gold, the physical quantity was much less than the previous years.'
Delhi Police have arrested six individuals linked to interstate cybercrime syndicates involved in digital arrest, fake IPO, and trading scams, recovering millions of rupees.
Adityanath had earlier referred to a conspiracy angle behind the violence during the protest, which is currently under police investigation.
AM Shahjahan and Vanni Arasu from IUML and VCK respectively were sworn in as ministers in Tamil Nadu, increasing the number of allies in the TVK government. This marks the first time representatives from both parties have been inducted into the state cabinet, signifying a shift in Tamil Nadu's coalition dynamics.
The Reserve Bank of India's (RBI) cap on banks' forex positions provided only a temporary boost to the rupee, with the currency quickly reversing gains and breaching the 95-per-dollar mark due to persistent underlying pressures.
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.
A 35-year-old man has been arrested for allegedly defrauding over 500 women across India of more than Rs 2 crore through fake social media and dating app profiles.
Benchmark equity indices Sensex and Nifty extended their gains for the third straight session on Wednesday, driven by last-hour buying in bank, metal, and FMCG shares.
A family in Thane, Maharashtra, was allegedly defrauded of over Rs 1.66 crore by a man who exploited their fear of black magic, promising divine remedies through rituals and pilgrimages.
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.
The Reserve Bank of India's 2024 norms for the voluntary conversion of Small Finance Banks (SFBs) into universal banks, particularly the subjective 'diversified loan portfolio' criterion, are proving to be a significant hurdle, with Ujjivan SFB and Jana SFB having their applications returned.
The Jammu and Kashmir Police's Counter Intelligence Wing (CIK) has dismantled a sophisticated international cyber fraud racket, arresting seven individuals in Srinagar. The operation targeted victims in the USA, UK, and Canada, using advanced techniques to steal funds through deceptive online schemes.
Customers will qualify for compensation even if they mistakenly share the OTP.
Two young men in Mumbai were defrauded of 23.43 lakh after being promised jobs in the Brihanmumbai Municipal Corporation (BMC). The accused, posing as a BMC employee, assured them of supervisor positions in the water department in exchange for money, providing fake joining letters and identity cards.
The details that have been shared include identification, account and financial information, including name, address, country of residence and tax identification number, as well as information concerning the reporting financial institution, account balance and capital income.
Ask rediffGURU and PF, MF and insurance expert Purshotam Lal your mutual fund, insurance and personal finance-related questions.
The Economic Offences Wing of Crime Branch in Kashmir conducted searches at multiple locations in Srinagar and Budgam districts concerning the alleged siphoning of government funds during the COVID-19 pandemic.
A former Indian Army captain, who had been on the run for four years after being convicted of his wife's murder, has been arrested after police traced him through an LPG cylinder booking.
A man has been arrested in Noida for allegedly defrauding people of approximately Rs 12 lakh by offering fake tour and travel packages through social media platforms.
A 78-year-old woman in Mumbai was defrauded of over 25 lakh after a scammer gained access to her mobile phone under the guise of updating her electricity bill details.
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.
'In the last one year, we have added more than Rs 1.7 trillion, and we are on track.'
Indian youth creates fictional AI influencer, Emily Hart, who amasses millions of followers and earns him substantial income, exposing the deceptive potential of AI in the digital age.
A State Bank of India report indicates a sharp increase in precautionary cash holding in India, with the gap between per capita currency in circulation and ATM withdrawals widening significantly, driven by global uncertainties despite record digital payment transactions.
ServiceNow has announced an expansion of its AI Control Tower offering with new capabilities that give enterprises control over every AI system, agent, and workflow, regardless of where it runs.
The Enforcement Directorate (ED) reports a decline in traditional financial crimes due to sustained investigative actions and government initiatives, while highlighting emerging challenges like cryptocurrency fraud and terror financing.
The Panchkula Municipal Corporation has reported discrepancies in its Fixed Deposit Receipts (FDRs) with a private bank, amounting to approximately 150 crore. The matter has been reported to the State Vigilance for further investigation.
Two individuals from Hyderabad have been arrested in connection with a 'digital arrest' scam in Belagavi, where an 81-year-old businessman was defrauded of over Rs 15 crore.
The CBI has arrested five individuals and conducted searches across India in connection with the NEET UG paper leak case. Protests have intensified, and calls for the Education Minister's resignation have grown louder. Political parties are trading blame, and the Supreme Court is considering a plea for an overhaul of the National Testing Agency.
This article aims at shattering some myths surrounding Swiss bank accounts by answering some very basic questions.
