Finance News

NRI deposit flows surge over 6x to $36.2 bn in Apr-Jul FY27: RBI data

FCNR(B) deposit flows surged to $34.53 billion in April-July FY27, while outward remittances under the LRS rose 4.7 per cent year-on-year to $9.37 billion

RBI net dollar purchases hit record $18.65 bn in July: Monthly bulletin

The central bank's concessional swap facility drove dollar inflows, while its outstanding net short position in the forward market surged to a record $136.77 billion

High credit-deposit ratio does not signal funding vulnerability: RBI report

Loans themselves result in the creation of deposits; RBI report says the CD ratio should be assessed alongside liquidity, capital and other prudential indicators

SC to hear plea against MDR on UPI merchant payments above ₹2,000 on Monday

Ending nearly six years of fully free UPI payments, the government has introduced a 0.4 per cent fee on transfers worth over ₹2,000 made to merchants through the UPI platform from October 15

Sidbi pulls out ₹6,000 crore 3-year bond issuance as yields harden

Investors sought higher yields for SIDBI's three-year bonds as government bond yields hardened amid rising crude oil prices and higher US Treasury yields

RBI Bulletin: FCNR(B) boost for rupee dented by recent crude oil spike

Commercial banks mobilised $133 billion in FCNR(B) deposits after the RBI opened its concessional swap window in June, prompting the scheme to close a month early

PSU banks waive ATM charges for customers during three-day bank strike

Employee unions at RBI supported the strike call and objected to RBI asking banks to remain open on Sunday

Govt approves voluntary retirement of LIC Managing Director Dinesh Pant

Pant, who was appointed Whole-time Member (Actuary) of Irdai in June 2026, ceased to be LIC's managing director and key managerial personnel from September 24

MFIs to seek higher household income threshold for microfinance borrowers

To widen borrower eligibility, the microfinance industry wants the household income threshold increased to Rs 300,000 per annum to adjust for inflation in the past five years since it was last hiked.

Rajasthan tax department expands probe into evasion, false claims

Rajasthan's State Tax Department detected potential tax liability of ₹22.79 crore at over 25 establishments during its crackdown on suspected GST evasion and fraudulent ITC claims.

Central govt disburses ₹36,754 crore under PLI schemes as on June 30

The government launched the PLI schemes in 2020 for 14 key sectors, with an approved outlay of ₹1.91 trillion, to enhance India's manufacturing capabilities, attract investment, promote exports

UPI MDR decision purely professional, no external pressure: FM Sitharaman

Sitharaman said the decision was completely professional, and it was taken jointly by the NPCI, payment banks and merchant banks, and not imposed by the government.

UPI MDR is not a tax, won't mean extra cost for customers: FM Sitharaman

Finance Minister Nirmala Sitharaman has said the charge on specified merchant transactions above ₹2,000 will be borne within the payments ecosystem, while UPI payments by customers will remain free

Irdai's fee cap proposal rattles distributors; insurance stocks tumble

Irdai's proposed commission caps could hit distributor incomes, with banks and NBFCs facing pressure from lower payouts on insurance products

75% traders may not face UPI levy, says NPCI MD & CEO Dilip Asbe

18% GST on merchant discount rate could be reviewed

MDR on UPI payments: What customers, merchants need to know from Oct 15

From October 15, MDR will apply to certain UPI payments above ₹2,000 made to large merchants, while customers and eligible small vendors will continue to pay no fee

Fintechs race to expand merchant networks as MDR returns to UPI payments

PhonePe, Paytm, Pine Labs and MobiKwik are stepping up merchant acquisition and device deployment as UPI MDR returns and NPCI plans a Rs 3,000-crore fund

FCNR(B) funds find a runway ahead of festival season-led credit demand

RBI Deputy Governor Rohit Jain said banks have an opportunity to deploy FCNR(B) liquidity in the coming months, while maintaining healthy credit standards

Credit card spends fall 2.8% to ₹2.02 trillion in August, shows RBI data

Credit card spending fell to Rs 2.02 trillion in August as online spends declined 7 per cent, while the number of outstanding cards rose to 124.05 million

Datanomics: PSBs lead among UPI senders, private banks top receivers

Proposed UPI MDR will give remitter banks the largest revenue share, while private banks dominate the merchant-side transactions