Page 3 - Finance News

RBI may take until Q2FY28 to absorb ₹4 trn durable liquidity surplus

Economists expect the central bank to use OMO sales, sell-buy swaps and other liquidity-management tools to gradually absorb the durable surplus

RBI proposes temporary debit holds on suspected money mule accounts

Banks can hold fraud-linked amounts immediately; customers get 20 days to explain transactions

Brics backs tax working groups, customs pact under India's chairship

Brics leaders back deeper tax and customs cooperation under India's chairship, including new tax working groups, a customs pact and joint enforcement initiatives

UPI's AI protocol temporarily on hold as NPCI builds safeguards

The focus is on user protection, mapping actual risks from potential liabilities when agents go rogue, and governance standards around evolving technologies like these

Record $44.9 bn surge in a week makes India 4th-largest Fx holder

Gold reserves, by contrast, declined by $2.59 billion to $113.81 billion during the week as gold prices fell 0.56 per cent to $4,429 an ounce

Nearly 50% FCNR(B) deposits are for 5-year tenure: RBI Governor Malhotra

RBI Governor Sanjay Malhotra says nearly half of the $127.2 billion in FCNR(B) deposits mobilised under the concessional swap facility have a five-year tenure

RBI imposes ₹27.3 lakh penalty on Asset Care & Reconstruction Enterprise

The central bank imposed the penalty after its inspection found non-compliance with regulatory directions relating to the charging of management fees by the ARC

SBI aims for DPDP compliance by December, ahead of May 2027 deadline

The country's largest lender has procured the software and hardware required to comply with DPDP norms and plans to deploy them ahead of the May 2027 deadline

Rupee falls 1% in three days as crude, foreign outflows weigh on currency

The rupee has weakened over 1 per cent in three sessions as high crude oil prices and foreign outflows weigh, while experts see 96 as a key level against the dollar

India FX deposits to help earn more revenue: RBI Governor Sanjay Malhotra

The comments come as the RBI deals with the fallout from record foreign-exchange inflows

UPI Tap and Pay explained: How it works, key features, and its benefits

Digital payments are getting a new option. Here's what RBI's new UPI Tap and Pay feature is all about, how it works and what it could mean for users:

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