Page 14 - Finance News

Rupee rises 16 paise to 95.03 against US dollar during early trade

Forex traders said the USD/INR pair opened on a positive note this morning on a slight risk off sentiment

RBI staff strength falls for first time in five years, down 2.2% in FY26

The Reserve Bank of India's workforce declined to 13,220 in FY26, marking the first fall in five years, even as employee expenditure rose on higher pension-related costs

Now, over a third of term deposits ₹5 crore+ accounts: RBI data

Large-ticket deposits are gaining prominence as banks struggle to mobilise retail savings, increasing reliance on a small pool of high-value depositors

UPI transactions scale fresh peak in May; value rises to ₹29.90 trillion

UPI transactions touched a record ₹29.90 trillion in May while volumes rose to an all-time high of 23.20 billion, underscoring the continued expansion of India's digital payments ecosystem.

Govt plans 'AI-against-AI' approach to strengthen digital public infra

Govt is considering deploying artificial intelligence to identify vulnerabilities and strengthen digital public infrastructure as concerns grow over advanced AI models' cybersecurity capabilities

Rupee falls 9 paise to 94.94 against US dollar during early trade

At the interbank foreign exchange market the rupee opened at 94.93 then lost some ground and touched an early low of 94.94, registering a fall of 9 paise from its previous close

Preference for proven credit rating hits first-time borrowers harder

Consumer durable financing has emerged as the primary gateway to formal credit as lenders increasingly favour borrowers with established repayment records

Fault lines are deepening in ATM business as operational issues mount

Rising wage and logistics costs are exposing long-standing stress points in India's ATM ecosystem, prompting calls for a rethink of interchange fees

NPCI chief Asbe bats for regulatory framework for fintech AI ecosystem

NPCI has called for a regulatory framework for agentic AI in digital payments while expanding AI-driven UPI and voice-payment use cases

Net household financial savings rise to 7% of GNDI in FY25: RBI report

Net household financial savings increased to 7 per cent of GNDI in FY25 as a sharp decline in financial liabilities outweighed a moderation in gross financial savings

'Strong preference' for cash use despite digital payments growth

Despite rapid growth in digital payments, RBI's survey found that households and small retailers continue to prefer cash, while currency in circulation rose strongly in FY26

RBI plans cross-border CBDC pilots amid digital currency experiments

Central bank will expand digital rupee experiments in 2026-27, focusing on cross-border payments, asset tokenisation, programmable money and welfare applications

RBI weighs adding 'frictions' to digital payments to tackle online fraud

Central bank is exploring transaction delays, broader customer controls and a kill switch mechanism as digital payment frauds continue to rise in value

RBI's forex transaction gains rise 52% to ₹1.69 trillion in FY26

Reports first mark-to-market loss on forward contracts in at least five years

RBI's net short forward dollar position falls to $95 bn after six months

The Reserve Bank of India's outstanding net short dollar position in the forward market declined in April, marking the first reduction after six consecutive months of increases

RBI to estimate natural real rate of interest, potential GDP growth in FY27

RBI plans to estimate India's natural real interest rate and potential GDP growth in FY27 to strengthen macroeconomic forecasting and policy analysis

RBI's penalties on regulated entities at 5-year low of ₹26.33 crore in FY26

RBI's penalties on regulated entities fell to a five-year low of ₹26.33 crore in FY26, with enforcement action taken against 241 entities

Bank credit growth remains strong at 16.2% despite global uncertainties

Bank lending continued to outpace deposit growth in the fortnight ended May 15, with strong traction in NBFC, retail and industrial credit segments

DFS secy advises PSU banks to ramp up preparedness amid West Asia war

DFS Secretary M Nagaraju reviewed PSU banks' performance and urged them to remain prepared and adaptable in view of the evolving situation in West Asia

India's foreign exchange reserves fall by $7.5 bn to $681.4 bn: RBI

India's forex reserves fell sharply as RBI interventions and declining gold and foreign currency assets weighed on the overall kitty