Finance News

RBI mandates auto transfer of unresolved plaints to internal ombudsman

The RBI has directed banks and eligible NBFCs to automatically escalate partially resolved or rejected complaints to the internal ombudsman and convey final decisions within 30 days

RBI asks banks to meet forex risk capital norms on continuous basis

The RBI has proposed changes to how banks calculate net foreign exchange exposure, requiring them to maintain capital for forex risk on a continuous, end-of-day basis

NPCI BHIM Services set to provide Canara Bank with UPI payments tech

Bank will integrate NBSL's bank plugins to host latest UPI features and upgrades on its app, aiming to improve security and scalability while lowering the cost of maintaining an independent interface

Bank holiday today: Are banks closed on Jan 14 for Makar Sankranti 2026?

For the same festivals, banks in India celebrate holidays on various dates. For Makar Sankranti and Magh Bihu, banks in Gujarat, Odisha, Assam, and Arunachal Pradesh will be closed on Jan 14, 2026

Financial activities on non-financial platforms pose challenges: RBI DG

Regulatory actions taken within individual mandates may be sound in isolation yet collectively may not fully address such cross-cutting risks, Murmu said

RBI may introduce licensing regime for corporate business correspondents

Currently, fintechs operating in the segment are not directly regulated by the RBI, with partner banks assuming responsibility for the actions of the companies they contract

Ensure faster grievance redressal, claims settlement: FinMin to insurers

During the meeting, Nagaraju underscored the need to develop new, innovative, customised products to meet the requirements of the younger generation and to provide coverage for emerging risks

Aim to expand UPI's footprint with East Asia push: DFS secy M Nagaraju

Nagaraju further said UPI transactions crossed more than 21 billion in December 2025, underlining the rapid adoption of digital payments in the country

Linking credit to health protection not charity but self-development: CEA

Nageswaran called for mainstream banks to not merely be spectators to the process of formalisation of the economy but to actively absorb new proven borrowers into their core portfolios

Govt working to expand UPI to more overseas markets: DFS secretary

Speaking at the Global Inclusive Finance India Summit here, Nagaraju said India is about 50 per cent in terms of digital transactions thanks to UPI

RBI bars resident Indians from issuing credit guarantees to NRIs

Resident creditors can obtain guarantees, but where both the principal debtor and the surety are non-residents, the underlying transaction must comply with foreign exchange regulations

Rupee ends flat, caught between softer dollar and corporate hedging

The rupee closed at 90.1525 per dollar, little changed from 90.1625 in the previous session

'RBI's $10 bn foreign exchange swap to sail through on corporate demand'

The swap involves the RBI buying dollars and injecting rupees in the first leg, which will be settled on Friday, before reversing ​the transaction three years down the line

RBI advocates disclosure of NPA, penalties & inspection info; banks oppose

Information Commissioner Khushwant Singh Sethi referred the matter to a larger bench of the CIC to adjudicate on the issues raised by the banks

Municipal bond issuances hit new record in FY26 due to fiscal support

Backed by AMRUT 2.0 incentives and rising investor demand, India's municipal bond market hits a record, with more cities tapping capital markets in 2025

RBI, North Block may finetune regulations for Viksit Bharat 2047

A report by Knight Frank India said supply-to-demand ratio for affordable housing across the top 8 cities plummeted to 0.36 in 2025 (until June), down from 1.05 in 2019

Simplified Income Tax Act 2025 to come into force from Apr 1: What it means

The new law simplifies the tax timeline by doing away with the distinction between the assessment year and the previous year, replacing it with a single 'tax year' framework

FinMin to review PSBs' progress on unclaimed deposits on January 14

"The meeting, to be chaired by the Joint Secretary (banking) in DFS, will assess the status of unclaimed deposits transferred to the DEA Fund and the pace of claims settlement across banks

Zero-fraud objective must to maintain public trust: RBI Deputy Governor

Despite falling fraud rates in cards and UPI, India must pursue a zero-fraud goal to protect trust and expand digital payments, RBI Deputy Governor T Rabi Sankar said

Restrictions, penalties are last resort: RBI governor Sanjay Malhotra

RBI Governor Sanjay Malhotra said penalties and restrictions are a last resort, stressing collaboration with banks to curb digital fraud and strengthen customer protection