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Monetary policy review: UPI payments via pre-sanctioned bank credit soon

This new feature could be seen as a substitute for credit card, which has limited reach, experts say

RBI allows UPI linking with pre-sanctioned credit lines from banks

Central bank proposal could strengthen digital lending and buy now pay later businesses, says one expert

No change: MPC presses 'pause' after hiking rate by 250 bps since May 2022

RBI governor makes it clear that if required, MPC could hike rates in future meetings

HDFC Bank garners record Rs 1.5 trillion deposits in a quarter

This is the highest in a three-month period since merger announcement with HDFC Ltd

Non-life insurers may have to reduce payouts to adhere to EoM norms

Unlisted life players may rack up a commission war to gain market share

HDFC Bank's advances rise 17% YoY to Rs 16 trillion; deposits up 21%

The lenders' CASA deposits grew by 11.3% to Rs 8.03 trillion

RBI has a responsibility to promote sustainable economic growth: DG Rao

Says banks have a role to play by making finance available to incentivise sustainable initiatives

UPI processes 8.7 bln transactions in March, highest ever since inception

UPI transactions in March 2023 were over 60 per cent and 46 per cent higher in volume and value terms from the year-ago period, according to NPCI

From insurance policies to MFs, here are the new tax rules from April 1

What changes: Tax on proceeds from high-value insurance policies, higher tax on debt MFs and more

UPI transactions will be free until govt reviews, says NPCI MD & CEO

The NPCI quickly clarified that the circular was only pertaining to PPI-based merchant transactions on UPI and the basic UPI transactions remain completely free

Account-to-account transfers on UPI fully free for customers, vendors: NPCI

Paytm set to gain from interchange fee for merchant payment via wallets on UPI platform

Insurance companies get more autonomy to decide on commission amount

Govt gives nod to Irdai rules on payment of commissions for intermediaries

Assets should ideally be churned within five yrs: Arcil's Pallav Mohapatra

In a Q&A, the MD & CEO of the firm dwells on its business model and the focus on retail assets to drive volume, going forward

Many cases may have to be reopened after SC ruling on borrowers' voice

Bankers said the decision won't deter them from marking an account as fraudulent

Credit card payments on foreign travels likely to attract tax at source

According to the LRS, which was introduced in 2004, all resident individuals, including minors, are allowed to freely remit up to $250,000 per financial year

Life insurers may gain from debt MFs being taxed at marginal rate

Experts say they may now be slightly better placed as customers looking for tax-free returns under Rs 5 lakh investment a year may now choose their guaranteed products

FSIB recommends Siddhartha Mohanty for LIC chairperson's position

Mohanty is already serving as the interim chairperson of LIC

Phasing out? Only 15-20% of ATMs dispense Rs 2,000 currency note

Cash dispensers reconfigure cassette with lower denominations

Indian origin Anand Selva appointed chief operating officer of Citigroup

Heading consumer banking in India in 2011-2014