Finance News

Labour Ministry to auto-refund small balances in inoperative EPFO accounts

Pilot to cover 7.11 lakh inoperative EPFO accounts with ₹1,000 or less; funds to be auto-credited to Aadhaar-seeded bank accounts without fresh claims

IFSCA to seek Centre's nod to open insurance-linked securities to investors

IFSCA will approach the Centre for approval to set up an SPV-based framework enabling investments in insurance-linked securities such as catastrophe bonds, aiming to broaden risk-sharing mechanisms

Banks need to focus on core biz, desist from misselling: FM Sitharaman

On February 11, the RBI had issued draft guidelines on mis-selling, saying banks will have to refund the entire amount for any loss arising due to mis-selling as per an approved policy

New CPI series will reflect consumption patterns better: RBI Governor

Data released on February 12 showed retail inflation was 2.75 per cent in January, according to the new CPI series, which uses 2024 as the base year

Govt cuts duty benefits for exporters under RoDTEP scheme by 50%

With immediate effect, the Directorate General of Foreign Trade (DGFT) said, the applicable RoDTEP rates shall be limited to 50 per cent of the existing rates

Govt amends tax treaty with France, revises dividend tax structure

The government said it has also modified how it taxes dividend income, replacing the existing flat 10 per cent rate ‌with a split structure

RBI not looking to revisit lending rules for proprietary traders: Guv

In rules released earlier this month, ‌the Reserve Bank of India raised the collateral requirements for bank guarantees to brokers and barred lending for proprietary trading by them

Rural-centric feature phone solutions set to anchor digital payments push

Govt sources say rural-focused feature phone solutions such as UPI 123Pay, IVR systems and offline payments will drive the next phase of India's digital payments expansion beyond smartphones

RBI's new lending curbs on bank funding seen squeezing trading firms

The RBI's initiative, due to take effect from April 1, follows a series of steps taken by the government and market regulator to cool the explosive growth in the country's equity derivatives market

UPI's global volumes cross 1 mn in FY26, nearly doubling from last year

UPI's international transaction volumes crossed one million for the first time in FY26, nearly doubling from the previous year, as the payments system expanded across eight countries

Risk-based premium on deposit insurance to test banks' fund-raising ability

From April 21, banks shift to risk-based deposit insurance premiums, with better-rated lenders paying less and a likely hike in the ₹5 lakh insurance cap

SBI targets increasing its green advances portfolio to 10% by 2030

Green advances portfolio was 1.56 per cent of the bank's total advances as on March 31, 2025

Yes Bank looks to exit FY26 with ROA of 1%, says CFO Niranjan Banodkar

For the December quarter, the bank reported a net profit of Rs 952 crore, registering a growth of 55 per cent on an annual basis and 45 per cent on a quarter-on-quarter basis

UGRO to focus on reducing pricier borrowing costs in FY27, says MD

The company, which has grown its assets under management in 2025, said the sharp expansion in recent years had necessitated higher liability mobilisation, impacting borrowing costs

Nabfid withdraws 3-year bond sale as bid yields exceed expectations

NaBFID withdrew its maiden three-year bond issue after investors sought higher yields amid hardening G-sec rates and geopolitical tensions that dampened market sentiment and pricing

MPC minutes: Members stay growth-supportive amid benign inflation outlook

The MPC unanimously decided to keep the policy repo rate unchanged during its February meeting

Security upgrade: SMS-less UPI signup may be launched by next year

NPCI is working on an SMS-less, silent device-binding process for UPI to improve security and onboarding, with rollout expected over the next 12-18 months

Rupee, govt bonds weaken on muted global risk sentiment; FX hits record

The rupee slipped amid muted global risk appetite and firm US yields, though RBI intervention helped cap losses, while forex reserves hit a new record of $725.7 billion

DFS secy urges banks to lower cost of borrowing for small-ticket biz loans

DFS Secretary M Nagaraju asked banks to lower borrowing costs for small-ticket business loans and expand credit, stressing PSBs' strong capital position and upcoming digital lending portals

RBI net sold $10 bn in December, slightly higher than November: Bulletin

RBI net sold $10 billion in December, with short dollar positions in the forward market easing to $62.35 billion, even as the rupee's REER slipped to 94.76, the monthly bulletin showed