Finance News

GIFT may become booking centre for wealth biz: Standard Chartered exec

Standard Chartered's Samir Subberwal sees scope for GIFT City to move beyond financial product distribution as the bank expands wealth offerings for resident Indians and NRIs

Debt collection has a new account book as tech, consent norms reshape it

The business is modernising rapidly, even as stricter consent norms and technology are set to redefine it, reports Raghu Mohan

RBI may review microfinance borrowers' income threshold, if needed: Murmu

Such a review of the ₹3 lakh income limit will hinge on the regulator's assessment of the need for a revision and developments in the industry

RBI's 6-hour reporting rule could help curb cyber threats, frauds

The directive requires all non-bank payment system operators (PSOs) to notify the central bank of such incidents in a prescribed format within the stipulated six-hour window

Govt mandates scrutiny of 'abnormally low bids', sets 30% threshold

The new rules require government agencies to examine such bids as potentially abnormally low and seek written explanations, but do not make rejection automatic

Marquee issuers raise ₹9.7K cr via bonds; PFC accounts for ₹5,941 cr

Marquee issuers raise nearly ₹9,700 crore through bonds despite higher government security yields, as November corporate bond issuances reach around ₹50,000 crore

RBI fines MobiKwik ₹9 lakh over PPI transfer and fraud reporting lapses

RBI imposed a ₹9 lakh penalty on MobiKwik for breaching PPI transfer limits and failing to report certain frauds within the prescribed timeline following an inspection

India's current account deficit widens to $25.8 bn in H1FY27: RBI data

India's current account deficit widened to $25.8 billion in April-September 2026 from $18 billion a year ago, while the balance of payments posted a $66.8 billion surplus

India's forex reserves rise by $2.49 billion to $719.55 billion: RBI data

In the previous week, the forex reserves had dropped by $2.691 billion to $717.056 billion

RBI may raise repo rate to 6% by February as inflation breaches upper band

Economists expect the RBI to raise the repo rate by 25 basis points each in December and February, taking it to 6 per cent, as rising food prices and El Niño risks keep inflation elevated

Fresh lending rates drop 10 bps in September, foreign banks lead

Foreign banks led the reduction in fresh lending rates, cutting them by 22 basis points, while surplus liquidity helped banks lower deposit rates to a 10-month low of 5.61 per cent

Supply shocks to weaken monetary policy effectiveness: CEA Nageswaran

In a bid to rein in inflation, major central banks across the globe, including the US Federal Reserve, have hiked interest rates

Rupee rises 7 paise to 94.05 against US dollar during early trade

In the interbank foreign exchange market, the rupee opened at around 94.07, then touched 94.05, up 7 paise from its previous closing level

CAG to launch in-house LLM for auditors, boost efficiency in audits

Developed by IIT Madras, the LLM is trained on 65,000 internal inspection reports and will help CAG auditors analyse financial data, identify patterns and streamline routine work

RBI to ban private equity firms from controlling multiple non-bank lenders

Indian ‌banks and non-bank lenders have seen a rush of foreign investor interest as demand for credit in the economy remains strong and loan delinquencies remain low

Rupee falls 6 paise to 93.77 against US dollar during early trade

In the interbank foreign exchange market, the rupee opened at around 93.73, then touched 93.77, down 6 paise from its previous closing level

Banks push fintechs to plug fraud risks amid surge in digital payments

Banks are tightening merchant onboarding and payout checks at fintech firms amid rising cyber fraud risks and record digital payment volumes during the festive season

Cabinet extends Mudra credit guarantee scheme till 2031 with ₹5,000 cr

The Cabinet has extended the Credit Guarantee Fund for Micro Units till March 2031 with a ₹5,000 crore corpus, aiming to facilitate ₹12.6 trillion in loans under the Mudra scheme.

UPI volume jumps 32% on Diwali driven by last-minute festival buying

UPI volume increased to 916.9 million on November 8 from 695.7 million transactions on the same day last year, according to data released by the NPCI

Banks to plough back UPI MDR gains into tech, security, merchant expansion

SBI, Axis Bank and Bank of Baroda plan to reinvest proceeds from the proposed UPI MDR levy in technology, security, infrastructure and merchant expansion rather than boost profits