IndusInd Bank on Tuesday said global rating agency Moody's has placed the bank's baseline credit assessment (BCA) under review for a possible downgrade. The rating review comes days after IndusInd Bank disclosed a Rs 2,100 crore discrepancy in accounting with an estimated impact of 2.35 per cent of the bank's net worth.
State Bank of India (SBI) is developing an innovative solution to assess the creditworthiness of small businesses lacking GST registration by utilising UPI transaction data. This initiative aims to provide end-to-end digital loans within a day, addressing the financial exclusion of many small enterprises.
A top SBI official has highlighted the challenges bankers face in lending to MSMEs using only GST data, advocating for the integration of alternative data sources like power consumption and telecom records through credit bureaus to improve credit assessment.
A deposit is not necessarily taxable simply because it appears in a bank account. What matters is whether its source can be satisfactorily explained.
Education loan defaults carry serious consequences. Credit bureaus record missed payments against both the student and the co-borrower, usually a parent.
'It's not about individuals operating the mule accounts being more or less skilled. Instead, 'lower-level' refers to the role the individual account plays in the broader mule network.'
BAFs seek to offer a smoother experience across market cycles, not the full upside of a bull market.
Used-car financing has seen significant growth, but borrowers must be aware of higher interest rates, conservative loan-to-value ratios, shorter tenures, and the risk of owing more than the car's depreciated value. Understanding these factors is crucial for making informed decisions.
HDFC Bank has submitted two names to the Reserve Bank of India for the managing director and chief executive position, following incumbent Sashidhar Jagdishan's decision not to seek reappointment. The bank also announced board changes, increasing whole-time directors to four and appointing Jimmy Tata as an executive director. This move comes as Jagdishan's term ends in October, creating a tight timeline for succession.
The Reserve Bank of India (RBI) has introduced new features for India's digital payment ecosystem, including UPI tap-to-pay for PIN-less transactions up to 5,000 and multi-currency capabilities for forex on Bharat Connect, supporting Euro, British Pound, and other major currencies.
The state-owned bank's loss largely offsets the Rs 1,800-crore (Rs 18-billion) capital injection the government will make in FY14.
Despite near gender parity in basic bank account ownership, women in India remain significantly underrepresented in the growing platform economy due to gaps in digital financial capability and access to credit, according to a joint report by the International Labour Organization and National Council of Applied Economic Research.
For millions of Indians, this number has become one of the most important financial indicators. It can influence not only whether a bank approves a loan but also the interest rate you pay, the credit limit you receive and, in some cases, how quickly your application is processed.
'First-time applicants may witness longer approval times or higher rejection rates and requests for more documentation.'
India opener Shafali Verma acknowledged the team's batting unit needs to address its shortcomings on turning pitches, despite securing a 94-run victory against Thailand in the Women's Asia Cup opener. Verma, who scored a brisk 64, noted that while the new ball came on well, the older ball gripped and turned, causing difficulties for the middle order. She emphasised the need for adaptation and praised Thailand's improving performance.
Veteran Indian shuttler H S Prannoy discusses his likely final Asian Games appearance and his long-term Olympic aspirations for LA 2028. Doubles specialist Chirag Shetty urges the Indian men's badminton team to go for gold, reflecting on their previous silver medal and the team's strong cohesion.
It's not about how much you earn -- it's about how you borrow and repay.
Indian tennis player Sumit Nagal reflected on his gruelling three-hour Davis Cup loss to South Korea's Hyeon Chung, attributing the defeat to Chung's superior play, challenging court conditions, and missed opportunities. The loss contributed to India trailing 0-2 in the tie, with Nagal acknowledging the fine margins in the intense battle.
State Bank of India Chairman C S Setty stated that banks will take three to four months to deploy the significant funds mobilised through foreign currency non-resident (bank), or FCNR(B), deposits, which is unlikely to cause "abnormal lending". He also highlighted the need for agentic artificial intelligence (AI) costs to fall sharply for its widespread deployment in India, envisioning its role in transforming banking from fraud detection to personalised financial assistance.
Air Marshal (retd) Jeetendra Mishra has been appointed as the first Chief Executive Officer (CEO) of the Shri Ram Janmbhoomi Teerth Kshetra Trust. His selection follows a rigorous process and comes amidst a recent controversy regarding alleged embezzlement of temple donations.
OpenAI has officially launched GPT-6 Astra, hailed as 'the world's most intelligent and aligned model,' designed to excel in computer browsing, software engineering, mathematics, and enterprise workflows, with immediate deployment for select organisations.
TeamLease EdTech Founder and CEO Shantanu Rooj states that the AI-driven world transition is irreversible, with regulation and cost being crucial factors determining its speed and depth. He emphasizes that while AI will transform jobs, not eliminate them, continuous learning, domain expertise, and adaptability will be key for individuals and businesses to thrive in this evolving landscape. Rooj also highlights the need for universities to adapt their curricula to prepare a future-ready workforce.
India's women's cricket team secured a commanding 94-run victory over Thailand in their Women's T20 Asia Cup opener. Despite a batting collapse after a strong start by Shafali Verma, India posted 159-9, then bowled out Thailand for just 65, with Deepti Sharma delivering a record-breaking spell. Captain Harmanpreet Kaur acknowledged the win but cautioned against complacency.
'Since the category has a limited track record, assess the fund manager's experience across equity and debt market cycles rather than relying only on past returns.'
'A balance had to be struck between the economic cost of taking action at this point against the need not to fall behind the curve in controlling inflation and anchoring inflation expectations.'
'Taxpayers should not ignore any of these notices. Verifying the facts and responding promptly can help resolve issues early and avoid unnecessary litigation.'
The Reserve Bank of India (RBI) has introduced stricter timelines for banks to process inward cross-border remittances, aiming to reduce delays in crediting funds to beneficiaries by mandating immediate customer intimation and more frequent nostro account reconciliation.
Over the past three years, the appointments of 20 candidates selected through the Institute of Banking Personnel Selection were cancelled or offers were withdrawn due to poor credit history.
'Users should protect their savings goals before allocating money to discretionary expenditure.'
Reserve Bank of India Deputy Governor Rohit Jain has stated that India cannot rely solely on bank balance sheets to fund the extensive investment required for its 'Viksit Bharat' (developed India) goal by 2047, emphasising the critical need for deeper corporate bond, foreign exchange, and derivatives markets.
GE Aerospace is utilising artificial intelligence solutions, developed by its Bengaluru team, to significantly improve aircraft engine inspection, analytics, and maintenance. These innovations have reduced turnaround times by at least five days, enhancing engine durability, reliability, and time on wing, with specific tools like the AI-enabled Blade Inspection Tool cutting inspection times by 50%.
The income tax department has significantly reduced refund processing times over the past few years. But while some taxpayers receive refunds within days, others may wait several weeks or even longer. Here's why.
Lending is no longer just about what you've done. It is about how you manage money over time, says Mohit Jain, Co-founder, Finfinity.
'You have to get private investment to somewhere between 35% to 36% of GDP. It is hovering about 30%-31%.'
'Improved law and order and transparent governance have helped change UP's investment image.'
World champion D Gukesh is 'crumbling under the weight of expectations' and needs to 'shut out the noise' to regain his form ahead of his title defence, said American Grandmaster Hikaru Nakamura. Nakamura also revealed that the 2028 Chess Olympiad could potentially be his last tournament featuring 'true classical' chess.
'It is not because of the war in West Asia, which began on February 28.' 'Petroleum product prices are already going through the roof. They are bound to have a serious inflationary impact.' 'A country's leadership is tested in trying times. It is here that the current leadership is failing.'
The Reserve Bank of India's proposal to allow non-banking financial companies (NBFCs) access to the term money market is projected to significantly increase market volumes by 40-60 per cent in the first year, potentially doubling turnover within two to three years, according to treasury executives.
The Reserve Bank of India (RBI) has issued amended directions for bank boards, effective October 1, 2026, to rationalise agenda items and enable more focused engagement on strategy and risk governance, while explicitly defining matters reserved for board approval and periodically reviewing delegated powers.
India defeated Zimbabwe by 90 runs in the second T20I, securing an unassailable 2-0 lead in the series. Skipper Shreyas Iyer indicated potential changes for the final match due to fast bowler Prince Yadav's hamstring injury. Ishan Kishan and Tilak Varma were key contributors with the bat, while debutant Yash Thakur impressed with the ball.
