Finance News

RBI gives compliance breather for small-merchant UPI transactions

The clarification follows industry representations seeking clarity on whether PA norms apply to P2PM transactions, which typically involve small merchants and low ticket sizes

Transition path for NBFCs to become universal banks may be in the offing

DFS to again meet on shadow banks next week

RBI workshop urges stronger governance and tech use to fight cyber frauds

At a two-day workshop with 60 banks, RBI called for stronger governance, better internal controls and greater tech adoption to counter rising cyber-enabled financial frauds

AI age brings new responsibilities for policymakers: CEA Nageswaran

CEA V Anantha Nageswaran said AI-enabled finance introduces new policy responsibilities, adding that regulators must strengthen oversight as India deepens integration with global capital markets

India may retain $113 bn forex as foreign universities set up campuses

A Knight Frank-Deloitte report says foreign universities establishing campuses in India could help retain $113 billion in foreign currency by 2040, easing large outflows for overseas education

Gold loans drive 42% surge in secured lending in Q3FY26: Experian

Experian data shows secured loans growing 42% in Q3FY26, led by strong demand for gold loans, even as unsecured lending rebounded and home loans maintained steady momentum

RBI's additional liquidity support to wind down after March: Bankers

India's banking system liquidity surplus has averaged around 1.1 per cent of deposits this month, inching past the 1 per cent threshold that the Reserve Bank of India indicated in December

NBFCs' bank licence set to figure at DFS meet on Thursday as reforms loom

The meeting will be attended by senior officials from the Finance Industry Development Council, Sa-Dhan and Microfinance Industry Network

NaBFID's debut CD raises ₹5,000 crore at 6.95% amid strong demand

NaBFID's maiden one-year CD issue raised Rs 5,000 crore at 6.95%, pricing tighter than comparable AIFI issuances and signalling strong investor confidence in short-term funding markets

Draft I-T forms seek tenant-landlord disclosure for claiming tax deduction

The draft forms also propose to entrust auditors with greater responsibility for checking PAN duplication and tax liability arising out of adverse audit observation

DFS secretary encourages composite salary package to boost PSU banks' CASA

DFS Secretary M Nagaraju inaugurates a composite salary account camp in Delhi as public sector banks seek to strengthen CASA balances and deepen customer relationships

RBI could rebuild reserves with dollar buys if rupee gains, says Citi

Although the RBI's reserves are at a record high, boosted by a historic rally in gold, it is carrying a $62 billion short forward book

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