Nandan Nilekani, co-founder of Infosys, has urged for the expanded adoption of the Account Aggregator (AA) framework to facilitate formal credit access for self-employed individuals and gig workers. He highlighted its potential to enable cash-flow-based lending by leveraging diverse data streams, moving beyond traditional asset-based lending, and fostering a more inclusive digital financial infrastructure in India.
India's MSME sector faces a significant formal credit gap of approximately Rs 60 lakh crore, with traditional channels meeting only a fraction of the demand. A new report suggests that a centralised, interoperable digital layer could effectively bridge this gap and enhance productivity across the formal business sector by digitising workflows and enabling cash-flow-based underwriting.
Your credit card may have security controls you rarely use. Here are seven settings that can help prevent unwanted or fraudulent transactions.
'Borrowers may stop EMIs if the loan or tripartite agreement expressly permits suspension, including where disbursements or repayments are linked to specified construction milestones.'
The GST Council, chaired by Finance Minister Nirmala Sitharaman, has begun deliberations on significant reforms, including decriminalising nine offences, softening provisions for 24, and raising the threshold for criminal prosecution to Rs 5 crore. The proposed changes also include scrapping the arrest powers of GST officers and introducing an 'invoice matching system' to combat fake input tax credit claims, aiming for a trust-based taxation approach and enhanced ease of doing business.
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.
PhonePe has announced a significant expansion plan to deepen digital payment infrastructure across India's towns and villages. This initiative includes hiring over 20,000 sales personnel and deploying more than 50 lakh payment devices, with a strong focus on rural areas, aiming to bring small merchants into the formal financial ecosystem.
RBI Governor Sanjay Malhotra stated that the central bank consistently views fintechs as 'valuable partners' in shaping India's future financial system, crediting the sector with expanding financial inclusion, enhancing customer experience, and streamlining credit delivery, particularly for MSMEs.
The most financially successful borrowers will not necessarily be those who have the easiest access to credit. They will be the ones who understand how to manage it wisely
The Retailers Association of India (RAI) has voiced concerns that the government's new 0.4 per cent Merchant Discount Rate (MDR) on UPI transactions above Rs 2,000 could reverse the progress of digital payment adoption among small retailers. This fee, effective October 15, places the burden on merchants operating on thin margins, potentially pushing them back to cash transactions and undermining the government's formalisation agenda, especially ahead of the festive season.
The Finance Ministry has dismissed allegations of US pressure influencing the 0.4% Merchant Discount Rate (MDR) on select UPI transactions. It clarified that NPCI guidelines prioritise RuPay credit cards on UPI and do not favour international cards. The ministry also asserted that the MDR, applicable to person-to-merchant transactions above Rs 2,000, is unlikely to increase cash transactions or cause inflation, with measures in place to prevent burdening consumers.
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.
With the anti-Gyanesh Kumar campaign, Rahul Gandhi is showing he is determined to not let anyone else claim credit for what follows, notes Saisuresh Sivaswamy.
The Finance Ministry has clarified that the 0.4 per cent Merchant Discount Rate (MDR) on UPI transactions above Rs 2,000, effective October 15, is not expected to increase cash transactions or cause inflation. The ministry also dismissed allegations of US pressure influencing the decision, asserting that the policy aims to promote RuPay credit cards within the UPI ecosystem, and a monitoring mechanism will ensure the MDR burden is not passed on to consumers.
The Finance Ministry has refuted allegations that US pressure influenced the decision to levy a 0.4 per cent Merchant Discount Rate (MDR) on select UPI payments. The ministry clarified that the NPCI guidelines prioritise RuPay credit cards on UPI to promote domestic alternatives and ensure a self-sustaining revenue model for smaller domestic companies, countering claims of favouring foreign payment providers.
'Applying AI to change the lives of Indians and at population scale -- just like we did with DPI [digital public infrastructure] -- is really where it's going to go.'
The first thing cardholders should do after spotting a suspicious charge is block the card.
The Indian government has introduced a 0.4% transaction fee on Unified Payments Interface (UPI) payments exceeding Rs 2,000 for merchants, effective October 15, marking the end of nearly six years of free service. Person-to-person transfers and small-value transactions below Rs 2,000 remain free. The new Merchant Discount Rate (MDR) is capped at Rs 300 for transactions above Rs 75,000, with differentiated rates for essential sectors and investments, and safeguards to prevent costs from being passed to consumers.
The Indian government has introduced a 0.4% Merchant Discount Rate (MDR) on UPI person-to-merchant (P2M) transactions exceeding Rs 2,000, effective October 15. This move ends nearly six years of fully free UPI payments, though person-to-person (P2P) transfers and small P2M payments remain free. The charges aim to bolster investment in UPI infrastructure, with specific exemptions and caps for essential sectors.
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.
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.
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.
Commercial vehicle loans recorded the highest early-stage delinquency among vehicle finance products, with portfolio at risk (PAR) 31-90 at 4.1 per cent in June 2026, while used car loans emerged as the fastest-growing segment, according to a CRIF High Mark report.
Can your money be protected against online frauds like hacking, digital arrests, etc?
Maruti Suzuki India's CFO, Arnab Roy, has urged the central government to introduce an amnesty scheme or an 'as-is' settlement option to resolve past indirect tax disputes, aiming to clear legacy litigation and foster growth in the automotive industry. Roy emphasised the need for a 'smarter way to address the past' to provide long-term certainty for businesses.
A savings or current account with no customer-induced transaction for more than 24 months is classified as inoperative.
Explore the unparalleled style evolution of Zendaya, the ultimate couture chameleon, as we celebrate 30 of her most iconic and unforgettable fashion moments.
Tamil Nadu Leader of Opposition, Udhyanidhi Stalin, has courted severe political backlash and condemnation for an offensive double entendre remark alluding to actor Trisha during a protest gathering in Thanjavur, prompting calls for action from the National Commission for Women.
The search for N Chandrasekaran's successor as Tata Sons Chairman has reportedly narrowed to Tata Steel CEO T V Narendran, Tata Sons Executive Director Saurabh Agrawal, and NSE MD & CEO Ashish Chauhan, with Chauhan emerging as a potential 'dark horse' candidate.
'Taxpayers should not ignore any of these notices. Verifying the facts and responding promptly can help resolve issues early and avoid unnecessary litigation.'
Former India spinner Harbhajan Singh has voiced strong support for Virat Kohli and Rohit Sharma to feature in the 2027 ODI World Cup, emphasising that performance, not age, should be the primary criterion for selection.
The National Company Law Tribunal (NCLT) has approved media baron Subhash Chandra's personal insolvency resolution plan, which proposes to pay Rs 6.5 crore against admitted creditor claims of approximately Rs 22,006.57 crore, despite allegations from dissenting lenders that five family-linked entities controlled 61.78 per cent of the voting share.
Rapid growth in personal gold loans has raised concerns over borrower leverage, large-ticket exposure and volatility in gold prices, points out Swaminathan J, Deputy Governor, Reserve Bank of India.
'You have to get private investment to somewhere between 35% to 36% of GDP. It is hovering about 30%-31%.'
Amit Malviya paid the price because he committed the cardinal mistake of himself 'becoming' the BJP's IT Cell and its social media. Malviya's removal contains a message to others -- never try to become bigger than the job that has been assigned, explains Nilanjan Mukhopadhyay.
Japan is deepening its defence relationship with India while simultaneously expanding its economic, infrastructure and security engagement with countries around India -- particularly Bangladesh. The result is an emerging Japanese conception of South Asia in which India remains the strategic anchor, but the geography surrounding India is becoming increasingly important, points out Varun Arya.
Public-sector banks (PSBs) in India have reported an 11.2 per cent year-on-year rise in net profit, reaching a record 1.98 trillion in FY26, marking their fourth consecutive year of profitability, driven by sustained business growth, improved asset quality, and strong capital positions.
Congress leaders Rahul Gandhi and Mallikarjun Kharge have written to Prime Minister Narendra Modi, demanding an independent investigation into alleged embezzlement of donations at the Ayodhya Ram temple. They highlighted that devotees feel betrayed and urged the Prime Minister to ensure accountability and make the Trust's financial affairs public. The controversy follows the arrest of eight people and the resignation of two Trust functionaries in connection with the alleged theft.
Three former Trinamool Congress Rajya Sabha MPs, including Sushmita Dev and Sukhendu Sekhar Ray, joined the Bharatiya Janata Party on Thursday and, within hours, were named the saffron party's candidates for the Rajya Sabha bypolls from West Bengal, underlining both their political rehabilitation and the party's calibrated shift in inducting leaders from the erstwhile ruling dispensation.
ICICI Bank, India's second-largest private-sector lender, is set to raise approximately $500 million through an overseas dollar bond issuance, marking its first such move in nearly a decade. This fundraising effort will utilise the Reserve Bank of India's (RBI) concessional swap window, a facility designed to reduce hedging costs for foreign currency borrowings.
