Finance News

Credit card spends hit ₹2 trillion for the second straight month in June

Overall spending rose 9.8 per cent year-on-year as HDFC Bank and SBI Card led growth, while outstanding credit cards crossed 121.6 million

Ifsca eyes independent arbitration centre to boost GIFT City's appeal

The proposed centre aims to strengthen dispute resolution, enhance investor confidence and help position GIFT City as a leading international financial services hub

AI cannot replace auditor judgement, flags automation bias in audits: NFRA

The audit regulator's first technology guidance says AI can support audit quality but cannot substitute professional judgement, scepticism or auditor accountability

RBI policy transmission lowers fresh loan rates faster in FY26: Report

CareEdge Ratings says fresh loan rates fell faster than outstanding rates in FY26, with education, MSME, trade, large industry and housing leading the broad decline

Tax laws are made for the living; I-T notice to dead person invalid: HC

Allahabad High Court said tax authorities cannot make an invalid notice valid by later adding a legal heir, and must instead issue fresh notice directly to legal representative within prescribed time

What is NPCI's UPI Meta plan that has smaller payment apps concerned?

Smaller UPI apps have urged NPCI to reconsider UPI Meta, warning the proposed one-click checkout feature could further strengthen PhonePe and Google Pay's dominance

Rupee rises 22 paise to 96.51 against US dollar during early trade

At the interbank foreign exchange, the rupee opened weaker at 96.81 before rising to 96.51, up 22 paise from its previous close

HSBC leads in FCNR (B) deposit mobilisation with over $5 billion

HSBC has mobilised over $5 billion in FCNR(B) deposits under the RBI's swap scheme, leveraging its global network and expanding NRI banking presence in India

Sebi eases security transmission rules, fast-track for low-value claims

Under the new norms, the markets watchdog said QTP will apply to claims involving securities worth up to Rs 10,000 held in physical mode and Rs 30,000 for demat holdings

Punjab and Sind Bank hopes to surpass ₹1,000 cr recovery target in FY27

Bouyed by better-than-expected recovery in the first quarter, Punjab & Sind Bank expects to surpass the target of ₹1,000 crore in the current fiscal

IMF urges stronger AI safeguards as India deepens financial sector adoption

The multilateral institution warned that rapid AI adoption could amplify systemic and cyber risks, urging stronger oversight, governance and international cooperation

Rupee rises 5 paise to 96.48 against US dollar on likely RBI intervention

The rupee appreciated 5 paise to 96.48 against the US dollar in early trade, supported by likely RBI intervention and a weaker dollar, though elevated crude oil prices and FII outflows capped gains

Outward LRS remittances rise 3.6% to $2.39 billion in May 2026: RBI

Higher overseas investments and deposit-related remittances lifted outward LRS flows in May, although spending on travel and overseas education declined

Foreign banks exhibit strongest rate transmission: RBI Bulletin

Foreign banks led the transmission of RBI's rate cuts, reducing lending and deposit rates more sharply than public and private sector peers, the central bank's bulletin said

Rupee falls 11 paise to 96.36 against US dollar during early trade

At the interbank foreign exchange market the rupee opened at 96.36, registering a fall of 11 paise from its previous close

RBI proposes easier FDI compliance regime, seeks public comments

Regulator proposes greater operational flexibility

Strong early response to swap window fuels $70 billion inflows hope

Foreign banks appear to have driven the early success of the RBI's swap scheme, say experts

Robust forex inflows lift rupee as lower crude prices boost sentiment

The rupee recovered from a five-session decline as easing crude oil prices and stronger-than-expected foreign exchange inflows under RBI measures supported sentiment

No further dilution by SBI in SBI Funds Management: Chairman C S Setty

SBI Funds Management made a subdued debut on the bourses, listing at Rs 613.30, a premium of 6.85 per cent over its issue price of Rs 574

Bandhan Bank's Q1 profit up 35% on lower provisions, asset quality improves

Bandhan Bank reported a 35 per cent rise in Q1FY27 net profit, helped by lower provisions, while advances grew 16.4 per cent and gross as well as net NPAs declined