Finance News

New GST jurisdiction to handle pending cases after business shift: CBIC

The new jurisdictional officer will also have the authority to initiate and conclude any consequential proceedings arising from the case

SBI Card leads May credit card additions as industry adds nearly 1 mn cards

SBI Card added the highest number of new credit cards in May as the industry added nearly one million cards, while credit card spending rose to Rs 2.02 trillion

10 more jurisdictions come under RBI's State Development Loans framework

States and UTs are expected to raise Rs 3.19 trillion through market borrowings in Q2FY27, while the RBI expands its benchmark issuance framework to improve SDL liquidity

India's forex reserves rise by $963 mn to $672.587 billion: RBI data

For the week ended June 19, foreign currency assets, a major component of the reserves, decreased by $3.072 billion to $541.217 billion, according to the RBI

RBI proposes wider access to money markets in draft rules for NBFCs, firms

Under the draft proposals, companies will also be allowed to participate in the term money market as lenders but smaller non-bank finance firms will be excluded

Govt plans to borrow ₹3.36 trillion through Treasury Bills in Q2FY27

The Centre will raise Rs 3.36 trillion through 91-day, 182-day and 364-day Treasury Bills in the July-September quarter, with 14 weekly auctions scheduled by the RBI

RBI consolidates rules for outright, when-issued & short-sale G-sec trades

Draft master directions bring together rules for government securities trading, widening market access while consolidating norms on reporting, settlement and short selling

States should use borrowings for asset creation, not handouts: FM

Sitharaman underscored that taking loans to create public infrastructure yields a positive economic impact and generates employment for the next 50 to 60 years

Three Indian DFIs said to plan $1.5 billion foreign debt under RBI scheme

RBI's subsidised hedging facility for external commercial borrowings lowers currency risk costs, aiming to boost dollar inflows and strengthen support for the rupee

Rupee rises 31 paise to 94.24 against US dollar as oil prices fall

At the interbank foreign exchange market, the rupee opened at 94.30 against the US dollar and strengthened further to 94.24, up 31 paise from its previous close

Mule accounts decoded: The hidden banking layer behind cybercrime

Mule accounts have become a significant challenge for India's cybercrime enforcement agencies, as through these accounts the fraudsters move illicit funds through banks before detection

RBI sets compliance blueprint for AI-driven finance under draft framework

The draft framework requires regulated entities to establish board-approved model risk management systems covering all models, including AI and machine learning applications

Most steps for India's inclusion in global bond indices in place: RBI guv

Governor Sanjay Malhotra says investor-friendly measures are being rolled out as India seeks inclusion in Bloomberg's Aggregate Bond Index

RBI withdraws concentration-risk exemptions for govt-owned NBFCs

The revised framework mandates annual identification of Upper Layer NBFCs and brings government-owned entities under the same exposure norms as their regulatory peers

Finance ministry, NFRA briefs Parl panel on bill to amend corporate laws

Parliament's joint panel reviewed the Corporate Laws Amendment Bill, 2026, aimed at easing compliance and decriminalising minor offences

Gold-loan lenders can withstand sharp price corrections, says Crisil

Strong risk-management practices, conservative lending ratios and timely auctions help lenders recover principal even under stressed gold-price scenarios, the agency says

Premature to talk about rate hikes, says RBI Governor Sanjay Malhotra

Central bank chief says RBI is monitoring the inflation impact of higher crude oil prices, while highlighting India's stronger external position and resilient banking system

State lenders plan $2 bn overseas borrowing under RBI concessional route

Small Industries Development Bank of India is in talks with the International Finance Corp. to raise as much as $1 billion in five-year and seven-year tenors

Rupee falls 10 paise to 94.86 against US dollar during early trade

At the interbank foreign exchange, the rupee opened at 94.88 before rising marginally to 94.86, down 10 paise from its previous close

Banking liquidity turns deficit after 3 months on tax outflows, cash drain

Advance tax payments and higher currency leakage pushed banking system liquidity into deficit, prompting the RBI to inject Rs 1.41 trillion through a VRR auction