Finance News

India's external debt rises to $762.8 bn at end-March 2026: RBI data

The central bank also said that the external debt to GDP ratio increased to 20.8 per cent at end-March 2026 from 19.8 per cent during the corresponding period a year ago

IFSCA proposes unique KYC ID for seamless use across GIFT City entities

Draft framework aims to eliminate repetitive KYC by introducing a unique client ID and mandatory KRA integration for regulated entities in GIFT City

Indian banks may face an AI compliance bill: Who will bear the cost?

RBI's proposed AI risk framework could raise compliance costs across banks, NBFCs and fintechs, creating new demands for audits, oversight and governance

GST enters 10th year: Inside the process behind every GST rate change

Industry associations, companies, state governments, central ministries, tax authorities and even judicial rulings can trigger a review of an existing GST rate or product classification.

July 2026 bank holidays: Full state-wise list of bank closures across India

Bank customers should be aware of the bank holidays in July 2026. To prevent inconvenience, crucial banking tasks should be scheduled around these particular periods

Global bond funds flock to India after tax relief measures, aiding rupee

Overseas investors have stepped up purchases of Indian govt bonds after Centre scrapped taxes on debt investments and relaxed ownership limits, improving market's appeal and supporting capital inflows

India's debt market needs structural reforms to support growth: Deloitte

As per report, Indian economy is entering phase that will require significantly higher levels of long-term capital, but existing debt market is not capable of efficiently meeting those financing needs

Banks may use NRI deposits to ease funding pressures: Axis Bank CEO

Indian banks are taking advantage of a move this month by the Reserve Bank of India to absorb the hedging costs incurred by lenders that raise dollars overseas

Rupee rises 20 paise to 94.25 against US dollar during early trade

Forex traders said the rupee opened on a positive note with oil prices remaining supportive and foreign inflows improving

GIFT City to offer fintechs runway that home turf doesn't to drive growth

Indian fintech firms are expanding into cross-border payments via GIFT City, leveraging IFSCA's PSP licence to tap trade finance, treasury and capital market opportunities

Going green for planet blue: Sustainable finance returns to lenders' agenda

As India finalises its climate finance taxonomy, banks are expanding green lending while experts call for deeper capital pools and stronger disclosure norms

GST at 10: Govt bets on AI and data integration to ease compliance

With GST implementation largely stabilised, the government is leveraging artificial intelligence, data integration and process simplification to reduce compliance costs, speed up refunds

New GST jurisdiction to handle pending cases after business shift: CBIC

The new jurisdictional officer will also have the authority to initiate and conclude any consequential proceedings arising from the case

SBI Card leads May credit card additions as industry adds nearly 1 mn cards

SBI Card added the highest number of new credit cards in May as the industry added nearly one million cards, while credit card spending rose to Rs 2.02 trillion

10 more jurisdictions come under RBI's State Development Loans framework

States and UTs are expected to raise Rs 3.19 trillion through market borrowings in Q2FY27, while the RBI expands its benchmark issuance framework to improve SDL liquidity

India's forex reserves rise by $963 mn to $672.587 billion: RBI data

For the week ended June 19, foreign currency assets, a major component of the reserves, decreased by $3.072 billion to $541.217 billion, according to the RBI

RBI proposes wider access to money markets in draft rules for NBFCs, firms

Under the draft proposals, companies will also be allowed to participate in the term money market as lenders but smaller non-bank finance firms will be excluded

Govt plans to borrow ₹3.36 trillion through Treasury Bills in Q2FY27

The Centre will raise Rs 3.36 trillion through 91-day, 182-day and 364-day Treasury Bills in the July-September quarter, with 14 weekly auctions scheduled by the RBI

RBI consolidates rules for outright, when-issued & short-sale G-sec trades

Draft master directions bring together rules for government securities trading, widening market access while consolidating norms on reporting, settlement and short selling

States should use borrowings for asset creation, not handouts: FM

Sitharaman underscored that taking loans to create public infrastructure yields a positive economic impact and generates employment for the next 50 to 60 years