Page 2 - Finance News

Govt appoints Mathew, Sinha, Akbaruddin as part-time RBI board directors

Annie George Mathew, Janmejaya Sinha and Syed Akbaruddin have been appointed part-time, non-official directors on the RBI's central board for four-year terms

RBI absorbs ₹1.41 trn surplus liquidity via VRRR, announces fresh auction

The central bank absorbed ₹1.41 trillion through seven-day and overnight VRRR auctions at 5.24 per cent, and announced a ₹1.75 trillion two-day auction for Tuesday

Govt appoints ex-diplomat Akbaruddin, two others to RBI central board

The central government has appointed former diplomat Syed Akbaruddin, ex-bureaucrat Annie George Mathew, and consultancy BCG India Chairman Janmejaya Kumar Sinha to RBI central board.

I-T dept nudges non-audit taxpayers to file ITR before Aug 31 deadline

The income tax department on Monday nudged taxpayers with business or professional income who are not subject to audit to file ITRs for AY 2026-27 before August 31.

UPI completes 10 years as transaction volume jumps nearly 13,000-fold

Annual UPI transaction volume rose from 1.78 crore in FY17 to over 24,162 crore in FY26, while transaction value climbed to around ₹314 lakh crore

UPI completes 10 years, clocks nearly 13k fold rise in transaction volume

The year 2026 marked a significant milestone in the growth trajectory of UPI, it said, adding that monthly transaction volumes crossed 2,300 crore for the first time in May 2026

Rupee rises 7 paise to 95.64 against US dollar during early trade

Forex traders said the Dollar Index has weakened, but elevated Brent crude and persistent importer demand limited the rupee's gains

Citigroup, Axis Bank team up on leveraged dollar deposit boom in India

The trade is emerging as RBI seeks to bolster foreign-exchange reserves and ease pressure on rupee, while creating opportunities for global banks to provide financing offshore

Fintech has too many moving pieces: Arbitrage window is closing fast

India's data-protection rules are narrowing fintech's regulatory arbitrage, raising compliance costs while creating new opportunities in regtech, cyberrisk and governance

RBI forex swap facility attracts $72.85 billion inflows as of August 21

FCNR(B) deposits accounted for nearly 90 per cent of the total at $65.40 billion, while ECBs and OFCBs contributed $2.59 billion and $4.86 billion, respectively

RBI FCNR(B) swap window inflows swell to $65.39 bn, total hits $72.85 bn

FCNR(B) deposits dominate inflows under RBI's special forex swap facility ahead of the August 31 deadline; ECB and OFCB windows remain open until December 31

Gold loans' share of system credit could reach 10% in 5 years: JP Morgan

Gold loans could gain from a structural shift towards monetising household gold, lower borrowing costs and rising financial literacy, with penetration remaining relatively low

Debit card rule may act as template to shield UPI users from MDR fee

A 2017 RBI rule barring merchants from passing debit card MDR to customers could guide safeguards against similar charges on UPI payments

Foreign currency assets fuel $50 bn forex reserve surge since June-end

Reserves have risen by nearly $50 billion since the last week of June, while foreign currency assets increased by $7.23 billion and gold reserves gained $2.68 billion

HDFC, PNB lead banks lining up for the next wave of dollar bonds

HDFC Bank's latest $1.75 billion fundraise through the twin dollar bond issuance takes the bank's total fundraising through dollar bonds over the past two months to $2.5 billion

Amfi announces initiatives to deepen mutual fund penetration

Amfi will conduct workshops and awareness programmes targeting women, first-time investors and underserved communities, while training 10,000 mutual fund distributors

Bond yields harden, rupee slips on hawkish MPC, rising crude oil

Benchmark 10-year government bond yield rose to 6.85% during the week, while the rupee weakened to 95.71 per dollar amid higher crude prices and hawkish MPC signals

RBI aims to absorb ₹2.5 trillion via seven-day VRRR auction on Monday

The banking system had a liquidity surplus of Rs 3.5 trillion on Thursday, while banks parked Rs 95,970 crore in the three-day VRRR auction on Friday

Sebi cancels registration of 15 investment advisers, 25 research analysts

Capital markets regulator Sebi on Friday cancelled the registration certificates of 15 investment advisers after they failed to pay the mandatory renewal fees.

Govt bonds log worst week in FY27 on RBI's premature end to FCNR (B) scheme

The selloff in bonds was amplified by a spike in crude prices that intensified inflation and rate hike fears for the world's third-largest oil importer