Finance News

RBI plans to drain ₹5 trillion through 26-day liquidity mopup bid

Central bank will conduct a 26-day VRRR auction on Friday to absorb surplus banking-system liquidity; funds placed in the auction will be reversed on October 7

Banks will take 3-4 months to deploy FCNR(B) flows, says C S Setty

CS Setty said banks would deploy the liquidity gradually, while also calling for lower upfront costs to enable large-scale adoption of agentic AI in Indian banking

PFRDA forms panel to work on guaranteed pension product for non-govt sector

Regulator is working on multiple products leading to a guaranteed offering; guidelines for innovative bonds and the Swasthya scheme are expected in the coming days

UPI gets new features: Tap-to-pay, unified window for transaction details

New UPI features enable tap-to-pay at PoS terminals and a unified transaction view, while Bharat Connect adds multicurrency capabilities for forex transactions

UIDAI working on plans to take Aadhaar global, says CEO Saurabh Vijay

Vijay said that UIDAI is working on guidelines to facilitate small merchants carrying out Aadhaar-enabled authentication for the KYC (know your customer) process

NPCI launches two new agentic AI platforms: Key features explained

The platforms are designed to use AI to automate enterprise workflows and processes across India's digital payments ecosystem

India backs CBDCs for Brics payments, rules out bloc-wide network

India is likely to back greater use of central bank digital currencies for bilateral trade settlements while stopping short of a unified Brics payments system that could be seen as challenge to dollar

Rupee falls 25 paise to 95.33 against US dollar as oil prices top $100

The rupee weakened past the 95-per-dollar mark amid higher crude prices and persistent dollar demand, while RBI intervention helped contain further losses

FCNR(B) inflows could lead to 'abnormal lending': Axis Bank MD & CEO

Axis Bank MD & CEO Amitabh Chaudhry cautioned banks over deploying excess liquidity, while flagging the possibility of an interest rate hike in the near future

Oil tops $100, rupee breaches 95/$ as stocks reel on US-Iran tensions

The rupee touched a low of 95.23 against the dollar before settling at 95.11 as Brent crude topped $100 a barrel; dealers cited RBI intervention in spot and swap markets

Many fintechs can emerge from India to serve global markets: Razorpay CEO

Razorpay CEO Harshil Mathur said India's leadership in real-time payments could help create several billion-dollar fintech companies by taking UPI-led innovations to global markets

Rupee's RBI-backed rally fades, slips past 95 on oil, slowing intervention

The rupee opened ​weaker and remained under pressure through the morning session, breaching the ‌95-per-dollar level with little resistance to drop to a low of 95.2250

Reform express to move at an even faster pace, says PM Narendra Modi

India growing at 7.8% gives the world a new sense of confidence, he said

Rupee sees worst day in eight weeks as elevated crude renews pressure

Rupee settles at 94.83 per dollar against 94.49 previously as rising crude oil prices, importer hedging and persistent risk-off sentiment boost dollar demand

Fintech a valuable partner in building for future: RBI Governor Malhotra

Governor Sanjay Malhotra says fintech has expanded financial inclusion, improved customer experience and enabled faster, more efficient credit delivery across India

PM Modi urges fintech sector to expand UPI globally, cut remittance costs

Prime Minister Narendra Modi urged the fintech ecosystem to expand the global reach of the UPI, connect it with local systems in other countries, and help the diaspora save on remittance costs

India eyes AI for next finance leap after digital payments revolution

AI could take India's financial system beyond simply processing transactions, helping assess borrowers, detect fraud, tailor financial products and eventually make payments on behalf of consumers

Indian banks leave FX risk open on overseas deposits, weighing on rupee

While the Reserve Bank of India's special swap facility shields banks from FX risk on the deposits' principal amounts, interest payments need to be managed by lenders independently

Rupee falls 10 paise to 94.66 against US dollar during early trade

At the interbank foreign exchange market, the rupee opened at 94.49 against the US dollar, then touched 94.66, registering a fall of 10 paise from its previous close

Universal pension scheme: Labour ministry eyes flexible payouts

EPFO's proposed universal pension plan may allow flexible payouts after retirement