Chief Economic Advisor V Anantha Nageswaran stated that India's economy is projected to return to a 7 per cent-plus growth trajectory by 2027-28 (FY28), or sooner if external conditions improve, despite near-term challenges from the West Asia crisis.
India's foreign exchange reserves increased by USD 938 million to USD 682.321 billion during the week ended May 28, according to the Reserve Bank of India, following a previous week's drop.
A consumer court in New Delhi has directed the Bank of India to refund Rs 10,000 to a woman and provide additional compensation for a failed ATM transaction that was not reversed for several months, citing deficiency in service and violation of RBI guidelines.
Petroleum Sports Promotion Board (PSPB) men secured a dominant victory at the Senior Table Tennis National Championships, while Reserve Bank of India (RBI) women reclaimed their title after two years.
UPI transactions in India reached record highs in May, driven by summer travel and the IPL, with transaction value hitting Rs 29.90 lakh crore and volume reaching 23.2 billion.
Foreign Portfolio Investors (FPIs) have withdrawn over Rs 62,853 crore from Indian equities in the first fortnight of June, bringing the total outflows for 2026 to Rs 2.87 lakh crore, surpassing the entire 2025 figure, driven by geopolitical tensions, global economic growth concerns, and a weakening rupee.
The highest number of frauds was reported under the card, Internet, and digital payments categories in FY24 and FY25. 'Advances' accounted for the largest share (85.5 per cent) in FY26.
India's foreign exchange reserves saw a significant drop of USD 8.094 billion, settling at USD 688.894 billion for the week ending May 15, as the Reserve Bank of India intervened in the forex market and global events like the Middle East conflict impacted the rupee.
The Indian rupee rebounded 50 paise from its all-time closing low to settle at 96.36 against the US dollar, driven by retreating crude oil prices, signs of easing geopolitical friction, and likely central bank intervention.
"It is quite possible that the rates will remain low in the near to medium term, but that will depend on how conditions evolve," said RBI Governor Sanjay Malhotra.
'Once an artist, always an artist. That identity, I realised about myself only when I stopped working.'
Foreign Portfolio Investors (FPIs) have withdrawn nearly Rs 43,000 crore from Indian equities in the first week of June, contributing to a total outflow of Rs 2.67 lakh crore in 2026, driven by a global shift towards technology and AI-linked opportunities and persistent rupee depreciation.
'There is a relationship between the audience and the film, and money should not come in between them.'
Credit card transactions in India have surged over 2.6 times between 2021 and 2025, reaching 570 crore volumes and Rs 23.2 lakh crore in value, with private sector banks significantly increasing their market share, according to a recent RBI report.
India's economy registered a robust 7.7 per cent growth in the fiscal year 2025-26, an increase from 7.1 per cent in the previous year, with the January-March quarter alone seeing a 7.8 per cent expansion.
ICICI Bank is seeking recoveries of at least 100 crore from fintech firms, alleging merchant misclassification of their business, a practice that has eroded the bank's interchange income. The dispute, lodged with global card network Visa, highlights growing discomfort among banks and intensified scrutiny from the Reserve Bank of India.
A 70-year-old man from Thane was allegedly duped of Rs 40.5 lakh by cyber fraudsters posing as police officers who threatened him with arrest in a fake terror funding case.
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 much-awaited board meeting of Tata Sons did not discuss listing of the holding company or a third term for Chairman N Chandrasekaran.
Governor: Simplistic narrative, questionable historical accuracy, underwhelming production quality, notes Sukanya Verma.
Benchmark lending rates unchanged with repo rate at 5.25%
Overseas travel spending by Indians, including holiday trips, decreased by $212.43 million to $1.09 billion in March compared to February, according to the Reserve Bank of India's latest data.
Indian stock markets are set to be influenced by developments in US-Iran negotiations, crude oil prices, and foreign investor activity in the upcoming holiday-shortened week, according to market analysts.
The Indian rupee is highly vulnerable among Asian currencies, with Barclays and MUFG warning of a potential depreciation towards 100/$ if the West Asia conflict persists, driven by widening current account deficits and elevated crude oil prices.
Amitabh Jhunjhunwala, former Managing Director of the Anil Dhirubhai Ambani Group, has been remanded in CBI custody in an alleged bank fraud case involving Reliance Commercial Finance Limited (RCFL) worth Rs 9,280 crore. The CBI alleges misappropriation of loan funds and violations of RBI guidelines, while Jhunjhunwala's lawyers claim he is a scapegoat.
The World Bank has increased India's economic growth projection for FY27 to 6.6 per cent, citing resilient domestic demand, while simultaneously cutting its global economic growth outlook due to the conflict in West Asia.
A board meeting of Tata Sons, the holding company of the Tata conglomerate, concluded in Mumbai, with discussions likely revolving around mounting losses in unlisted businesses and the future of Chairman N Chandrasekaran amid rising internal frictions.
The owner of Shivam Associates in Belagavi has been arrested following allegations of multi-crore investment fraud and unregulated financial activities. Authorities are investigating the firm's dealings with thousands of investors.
The National Payments Corporation of India (NPCI) is set to consider linking the ATM interchange fee to the Wholesale Price Index (WPI), alongside a potential hike from the current 19 to 21-22, which could impact customer charges for transactions beyond the free limit.
Credit card transactions in India have surged over 2.6 times between 2021 and 2025, driven by private sector banks, while debit card usage declines due to growing adoption of UPI and digital wallets, according to an RBI report.
The Reserve Bank of India (RBI) announced that it processed 99.8% of applications within the prescribed timeline under its Citizen's Charter in February, demonstrating high efficiency in its operations.
Analysts predict that developments in West Asia, their impact on crude oil prices, and the trading activity of foreign institutional investors (FIIs) will be crucial factors influencing the Indian stock market this week.
The upcoming Tata Sons board meeting in June could possibly throw some light on several critical issues that may have a bearing on the future of the corporate behemoth.
In the draft norms issued last month, the RBI said that the ultimate responsibility for the bank's performance, conduct and control rests with the Board
India's foreign exchange reserves saw a significant drop of USD 7.794 billion, settling at USD 690.693 billion for the week ending May 1, as reported by the RBI, reflecting the impact of global events and central bank interventions.
The Reserve Bank on Tuesday proposed greater flexibility to authorised persons to undertake foreign exchange transactions for hedging their exposures, balance sheet management and market-making, as well as to ease reporting obligations, after a review of the current regulations.
The Indian government is set to accelerate reforms, including measures to enhance foreign direct investment, speed up divestment, and boost asset monetisation, to maintain economic growth despite rising fuel and fertiliser import costs driven by the West Asia crisis.
Reserve Bank Governor Sanjay Malhotra on Friday said the key policy rates will remain at low levels for a long period and may go down even further.
India's foreign exchange reserves saw a significant increase of USD 6.295 billion, reaching USD 696.988 billion for the week ending May 8, as reported by the Reserve Bank of India.
