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.
A Mumbai court has denied bail to Hitesh Mehta, the former General Manager of New India Cooperative Bank, who is accused of orchestrating a Rs 122 crore scam. The court cited the severity of the economic offence and the complexity of the trial as reasons for the denial.
The Indian rupee rebounded against the US dollar after the Reserve Bank of India (RBI) restricted banks' net open positions in dollars. This move prompted banks to sell dollars, providing temporary support for the rupee amidst ongoing geopolitical tensions and rising oil prices.
The consumer price index (CPI)-based inflation hitting an all-time low in October would encourage the six-member monetary policy committee (MPC) of the Reserve Bank of India (RBI) to cut the policy repo rate in its upcoming December 3-5 meeting. However, the July-September GDP growth, expected to be above 7 per cent, may act as a deterrent.
The National Stock Exchange (NSE) will launch Dated Brent Crude Oil (Platts) futures on April 13, offering a new hedging tool for market participants.
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.
Shrugging off concerns over the depreciation of rupee, the RBI has cut interest rate by 25 basis points to 5.25 per cent in a bid to further bolster economic growth, which rose to a six-quarter high of 8.2 per cent in the second quarter of the current financial year.
The relation between a regulator and its regulated entities is collaborative and not adversarial with the common objective of maintaining the stability and credibility of the financial system. However, the action on regulated entities like penalties and business restrictions are the last resort, Reserve Bank of India (RBI)'s governor Sanjay Malhotra said on Friday.
'First-time applicants may witness longer approval times or higher rejection rates and requests for more documentation.'
The Indian rupee weakened against the US dollar due to sustained foreign fund outflows and uncertainties in West Asia, although lower crude oil prices and a positive opening in domestic equity markets limited the losses.
Yield-generating instruments like Infrastructure Investment Trusts (Invits), Real Estate Investment Trusts (Reits), and Non-Convertible Debentures (NCDs) are witnessing a surge in investor interest, contrasting with a notable slowdown in the equity primary market, which saw only one IPO in April.
'In India's case, an extended earnings slowdown accompanied by rich valuations have dimmed returns since late 2024.'
India's outward foreign direct investment (FDI) saw a significant increase of 27.5 per cent, reaching $7.06 billion in March, primarily driven by a sharp rise in guarantees for overseas units, according to the Reserve Bank of India.
India's wholesale price inflation (WPI) increased for the fourth consecutive month in February, reaching 2.13 per cent, primarily due to rising prices of food and manufactured goods, according to government data.
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.
Only bona fide victims would be compensated by banks within five days of receiving the complaint.
The Reserve Bank's gold reserves crossed 880 metric tonnes in the first half of 2025-26 with the central bank adding 0.2 metric tonnes in the last week of September. The total value of the gold was $95 billion as of September 26, 2025, according to the latest data from the Reserve Bank of India (RBI).
The Reserve Bank on Wednesday postponed implementation of the second phase of the faster cheque clearance mechanism to provide more time to banks to streamline their operations.
Under the TMC, Bengal has seen expansion of welfare, but not big-ticket private investment.
'We have seen that stablecoins lack the basic attributes of money, their advantages are neither unique nor unambiguous and their risks are all too real.'
India's forex reserves dropped by $11.683 billion to $716.810 billion during the week ended March 6, the RBI said on Friday.
While the economy will wait for a rate cut in December, the banking industry should be happy with the wave of liberalisation -- a big push for growth in bank credit, points out Tamal Bandyopadhyay.
Remittances from West Asia in March rose sharply amid the conflict in the region, with industry insiders estimating inflows to be 20-30 per cent higher than what is usual in a month.
The Reserve Bank of India (RBI) does not target any price level on the rupee, Governor Sanjay Malhotra reiterated at an International Monetary Fund and World Bank event on Wednesday.
'My resignation is a larger governance and governance-plus kind of an issue, which the board of directors of the bank should be introspecting.'
The RBI advisory follows a labour ministry request earlier this year seeking the central bank's expertise to identify gaps in EPFO's investment strategy and fund management practices, including accounting, risk management, and internal governance.
For commercial banks to float subsidiaries, approval from the Reserve Bank of India (RBI) may not remain mandatory, according to highly placed sources.
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.
India's retail inflation marginally increased to 3.4 per cent in March, up from 3.21 per cent in February, primarily due to an uptick in certain food items and the initial impact of the West Asia crisis on fuel prices, according to government data.
The Indian rupee weakened to a record intra-day low against the US dollar due to a strengthening greenback, continuous foreign capital outflows, and elevated global crude oil prices amidst the West Asia conflict.
A special court in Thane, Maharashtra, has sentenced the mastermind of an investment fraud to rigorous imprisonment and ordered the auction of his properties to repay duped investors.
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.
The Indian economy is growing at a robust pace, driven by strong domestic demand, low inflation, and the healthy balance sheets of banks, said a Reserve Bank report released on Wednesday.
Loans against gold jewellery in India surged by an impressive 128 per cent year-on-year to nearly 4.28 trillion in February 2026, according to the latest Reserve Bank of India (RBI) data, significantly outpacing overall retail loan growth.
India's forex reserves decreased by $2.119 billion to $723.608 billion during the week ended February 20, according to the RBI.
The Reserve Bank of India (RBI) is in no rush to launch the central bank digital currency (CBDC) nationwide, as its most promising use case - cross-border payments - depends on other countries rolling out their own CBDCs simultaneously for the system to work effectively. That said, the CBDC pilot is progressing well, with the user base in India expanding to about seven million, said RBI Deputy Governor T Rabi Sankar.
Railways Sports Promotion Board (RSPB) players Jeet Chandra and Anirban Ghosh won the men's doubles title at the 87th UTT Senior National Table Tennis Championships. Sutirtha Mukherjee and Kaushani Nath secured the women's doubles title. The men's and women's singles pre-quarterfinals saw both expected wins and upsets, setting the stage for intense quarterfinal matches.
By enabling real-time data sharing, the platform will help prevent scams and ensure secure transactions.
Banks will be able to give loans to Indian companies for acquiring the entire equity stake or a controlling part of it in domestic or foreign firms as strategic investment that creates long-term value rather than for short-term financial restructuring if the Reserve Bank of India's (RBI's) draft circular, issued on Friday, comes to fruition.
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.
