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.
In a move aimed at curbing the mis-selling of financial products, the Reserve Bank of India (RBI) has proposed banning incentives paid to bank staffers by third parties such as insurance companies and mutual fund houses for selling their products and services. It has also proposed that banks must ensure their user interfaces do not deploy "dark patterns" to lure customers.
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.
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.
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.
Only bona fide victims would be compensated by banks within five days of receiving the complaint.
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.
The top agenda of the meeting includes a review of Tata Trusts representation on the Tata Sons board.
Unified Payments Interface (UPI) transactions in India reached a record high in March, driven by increased adoption and global expansion. The system now accounts for 85% of digital transactions in India and is live in eight countries.
Unified Payments Interface (UPI) transactions in India reached a record high in March, with 22.64 billion transactions, marking a significant increase from the previous year and highlighting the growing adoption of digital payments.
'Even last year, when India bought gold, the physical quantity was much less than the previous years.'
India's forex reserves dropped by $6.925 billion to $695.355 billion during the week ended October 24, the RBI said on Friday.
Private sector lender IDFC First Bank has lowered its savings account rates and introduced new slabs for small and medium balance categories, effective January 9, 2025, as per its website. The interest slabs and rates for higher balance accounts remain unchanged. Despite the revision, the bank continues to offer one of the highest savings account interest rates in the industry among mid-sized banks.
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.
The Reserve Bank of India (RBI) has allowed banks to grant need-based working capital loans to manufacturers using gold as raw material, extending the provision currently available only to jewellers. Banks are generally prohibited from lending for the purchase of gold/silver in any form, or lending against the security of primary gold/silver.
'Once the currency goes out of the hand, then possibly your major challenge is that it will not come back.'
The Reserve Bank of India (RBI) has said it expects several companies which have raised money through foreign currency convertible bonds (FCCBs) to face severe funding problems in the next two years due to lacklustre equity markets.
Maharashtra's Governor and Chief Minister, along with other state leaders, paid tribute to Dr. B.R. Ambedkar on his 135th birth anniversary, recognising his profound impact on social justice, equality, and the Indian Constitution.
Winds of change are blowing across Mumbai's Mint Road.
'First-time applicants may witness longer approval times or higher rejection rates and requests for more documentation.'
Of course, NOT! Here's why. And here's how you can increase your Rs 1 crore retirement corpus.
The RBI on March 12 approached the Election Commission seeking its approval for granting bank lincences as the model code of conduct had come in place after the general elections announcement on March 5.
Compared with a year ago, the effective cost of studying abroad for Indian students has increased by roughly 10%-12% due to currency depreciation and rising living costs.
Indian stock markets experienced a significant sell-off, with the Sensex tumbling over 1,300 points, driven by escalating crude oil prices due to US-Iran tensions and Prime Minister Narendra Modi's call for austerity measures, which amplified investor concerns about India's economic outlook.
Gopalakrishna's name was in the reckoning for Deputy Governor in place of Anand Sinha who retired in January.
RBI norms on foreign control of corporations will clear the air.
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.
Months after picking up 24.21 per cent stake in private sector lender Yes Bank, Japan's Sumitomo Mitsui Banking Corporation (SMBC) has received the Reserve Bank of India's (RBI's) in-principle approval for setting up a wholly owned subsidiary (WOS) in India.
The CBI has filed a chargesheet against a man accused of defrauding a retired banker of Rs 23 crore in a sophisticated digital arrest scam involving impersonation of law enforcement and judicial authorities.
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.
Back in March this year, when the Reserve Bank of India stepped in with a cap of 60 per cent on the loan-to-value ratio for gold loan non-banking financial companies, it said it was acting to pre-empt systemic risks and to safeguard public funds.
Is Bhutan merely experimenting with digital finance -- or is the Himalayan kingdom punching far above its weight, quietly playing one of the most sophisticated strategic games in Asia today? asks Varun Arya.
Benchmark lending rates unchanged with repo rate at 5.25%
Most expect a 25 bps rate hike today, but want pause.
The rupee plunged to a fresh low of 93.72 against the dollar on Friday, falling 1.15 per cent in a single session - its sharpest one-day decline since February 24, 2022 - as elevated crude oil prices and strong dollar demand from oil-marketing companies and foreign portfolio investors (FPIs) weighed on the currency.
Following through announcements with enforcement of measures is key, as a run through recent Indian economic history shows, points out A K Bhattacharya.
The proposed solution is a one-hour delay for digital transactions exceeding Rs 10,000, particularly when the transfer is made to a new or unverified beneficiary. The idea is simple -- give users a window to reconsider, detect fraud or alert their bank before the funds are irretrievably transferred.
Report by March 31; banks' gold coin sales, wealth management biz also under scanner.
From April 1, 2026, the Reserve Bank of India's new authentication directions modernise how every digital payment you make must be verified -- and place the burden of security squarely on your bank, not on you.
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.
