Page 34 - Finance News

Rebuilding trust, regaining biz momentum key priorities for IndusInd Bank

The private sector lender is also looking to enhance productivity through innovations in areas such as fintech

CBDC will transform cross-border payments, says Bank of Baroda MD & CEO

"BoB is currently anchoring CBDC initiatives in collaboration with the Reserve Bank of India," he said. RBI is currently conducting pilot projects on CBDC

RBI announces draft norms for transition to expected credit loss framework

In the ECL framework, banks need to adopt a three-stage approach to determine Significant Increase in Credit Risk (SICR)

Govt aims to complete IDBI Bank stake sale before FY26-end: M Nagaraju

DFS Secretary M Nagaraju says the government will complete the IDBI Bank sale this fiscal and begin phased divestment in five other public sector lenders

UIDAI may authorise Aadhaar-based face authentication for big transactions

Abhishek Kumar Singh, who was part of a panel discussion at the Global Fintech Fest 2025, added that the NPCI is on board with this approach

Central, state co-op banks brought under ambit of RBI's Ombudsman scheme

All non-banking financial companies -- excluding housing finance companies, which are authorised to accept deposits or have a customer interface

RBI links Bharat Connect, FX-Retail to facilitate dollar transactions

The integration will allow bank customers to digitally buy US dollars for remittances, forex cards, or currency notes at competitive rates

Amazon Pay India revenue drops 7% in FY25 amid festive surge in usage

Despite ₹866-crore loss, platform sees strong consumer adoption during Great Indian Festival

NPCI launches new tech subsidiary to boost payments innovation in India

NPCI Tech Solutions will focus on fintech experimentation and breakthrough innovations, expanding NPCI's role in global digital payments and cross-border connectivity

NPCI to roll out biometric authentication for digital payments from Oct 8

The move follows recent guidelines from the Reserve Bank of India permitting alternative methods of authentication and will mark a departure from the current system

India to roll out digital currency; Piyush Goyal flags unbacked crypto

Goyal clarified that while there is no outright ban on cryptocurrencies without Central government backing, they are heavily taxed to discourage their use

NBFCs, capital markets lead consents in account aggregator system

NBFCs, RIAs, and stockbrokers dominate India's expanding account aggregator ecosystem, serving over 24 million users in FY25

Six states evince interest to join UPS, says PFRDA Chairman S Ramann

Recently the central government extended the deadline for eligible employees, past retirees, and legally wedded spouses of deceased retirees to exercise their option to join the UPS till 30 November

India launches UPI payment system in Qatar's Lulu Group stores

Launching the facility at a Lulu store, Commerce and Industry Minister Piyush Goyal said it will help facilitate smoother and more cost-effective movement of capital between the two countries

Supreme Court to hear plea challenging constitutional validity of STT

A Supreme Court bench led by Justice JB Pardiwala sought the Centre's response to a plea alleging the Securities Transaction Tax violates equality and trade rights

Adani Green gets $250 million in first offshore loan since investigation

A group of four banks - DBS Bank Ltd., DZ Bank, Rabobank and Bank SinoPac Co Ltd - agreed to extend the credit

Hero Future Energies secures ₹1,908 cr funding from SBI, Canara Bank

These funds will be utilised for the development and construction of a 120 MW renewable hybrid project at Kurnool in Andhra Pradesh, the company said in a statement

Unclear guidelines hold back growth of credit line on UPI since launch

Industry sources in the know added that more clarity was required in terms of reporting the use of credit line on UPI to credit bureaus in the country.

Microfinance sector faces funding crunch, default fears amid scrutiny

The microfinance industry is in a bind as funding declines and fears of defaults swirl amid stricter regulatory scrutiny

SBI aims to be one-fourth of India's GDP by assets: Chairman C S Setty

Setty highlighted that India has to focus on the emerging sectors