India's forex reserves were up by $4.84 billion to $702.78 billion for the week ended June 27, the Reserve Bank of India said on Friday. In the previous reporting week, the foreign exchange reserves had dropped by $1.01 billion to $697.93 billion.
Two-factor authentication for all digital transactions, including UPI, is now mandatory in India, as per RBI guidelines, to enhance security and curb fraud.
India's forex reserves jumped $4.04 billion to $698.27 billion during the week ended September 5 on the back of a sizeable increase in value of gold reserves, the RBI data said on Friday.
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.
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.
Finance Minister Nirmala Sitharaman on Thursday said the country needs big and world-class banks, and discussions are on with the Reserve Bank and lenders in this regard.
India's forex reserves fell by $276 million to $699.96 billion during the week ended October 3, according to RBI data. In the previous reporting week, India's forex reserves had dropped by $2.33 billion to $700.24 billion.
The top agenda of the meeting includes a review of Tata Trusts representation on the Tata Sons board.
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.
'Once the currency goes out of the hand, then possibly your major challenge is that it will not come back.'
Asian Development Bank (ADB) on Friday warned that India's limited crude oil reserves of about 100 million barrels - sufficient for only 40-45 days of consumption - leave the country particularly vulnerable to supply disruptions through the Strait of Hormuz amid the ongoing war in West Asia.
The rupee declined 31 paise to settle at 90.65 against the US dollar on Friday, weighed down by geopolitical uncertainties over the US-Iran talks, and a sharp rise in global crude oil prices.
The RBI added roughly 3 tonnes in 2025, taking its gold reserves to 879 tonnes as of January 31, 2025.
India's forex reserves dropped $4.39 billion to $690.72 billion for the week ended August 22, the Reserve Bank of India (RBI) said on Friday. The overall reserves had jumped $1.49 billion to $695.11 billion in the previous reporting week.
But selectively, with regulatory scrutiny and special approval, points out Tamal Bandyopadhyay.
The NBFC was registered on December 1998, with an office in Lucknow.
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.
'First-time applicants may witness longer approval times or higher rejection rates and requests for more documentation.'
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.
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.
Only bona fide victims would be compensated by banks within five days of receiving the complaint.
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.
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.
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.
Following through announcements with enforcement of measures is key, as a run through recent Indian economic history shows, points out A K Bhattacharya.
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.
India's first satellite-tagged Ganges soft-shell turtle released in Kaziranga.
Finance Minister Nirmala Sitharaman on Monday clarified in the Lok Sabha that India's rising gold reserves, including those held by the Reserve Bank of India (RBI), is not intended to replace any international currency.
There are respected names arguing both for and against this recommendation of the Urjit Patel committee.
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.
The Reserve Bank on Monday superseded the boards of Srei Infrastructure Finance as well as Srei Equipment Finance, citing concerns over governance and payment defaults, and decided to refer the two NBFCs for resolution under the insolvency law. This is only the second time in as many years that the Reserve Bank of India (RBI) is referring entities for the resolution process under the Insolvency and Bankruptcy Code (IBC) after taking first ever such step in the case of DHFL back in 2019. Superseding the boards of the crisis-hit Srei Infrastructure Finance Limited (SIFL) and Srei Equipment Finance Limited (SEFL), the RBI has appointed Rajneesh Sharma, former Chief General Manager of Bank of Baroda as the administrator to manage the affairs of the two companies.
Unified Payments Interface (UPI) transaction value and volume saw a slight month-on-month dip in April after record highs in March, but daily transaction volumes increased, indicating sustained growth in digital payments across India.
'Policy consistency combined with timely and calibrated reforms are expected to ensure that India not only maintains macroeconomic stability, but also emerges as a globally competitive and inclusive economy.'
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.
Insights from behavioural economics suggest that an ambitious nudge can be effective if three conditions are met, points out Ram Singh Insights from behavioural economics suggest that an ambitious nudge can be effective if three conditions are met, points out Ram Singh, director, Delhi School of Economics.
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.
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.
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.
