Page 44 - Finance News

Mukesh Ambani tops Forbes India rich list with $105 billion fortune

India's 100 richest see combined wealth fall by 9 per cent to $1 trillion, reflecting market volatility and currency headwinds

RBI launches four UPI initiatives at Global Fintech Festival 2025

New fintech features at Global Fintech Fest 2025 enhance UPI payments, bank interoperability, and seamless credit usage

PFRDA to expand NPS coverage to include agri sector and gig workers

PFRDA Chairman S Ramann says the regulator aims to extend pension coverage through FPOs, self-help groups and fintech tie-ups, and may allow gold and silver investments

RBI Governor warns of rising digital frauds, urges fintechs to build trust

Malhotra also said the central bank is conceptualising "Unified Market Interface" as a new next-generation financial market infrastructure

Banks like SBI well versed to handle acquisition financing: C S Setty

It is worth noting that the Reserve Bank had announced a decision to allow banks to engage in acquisition financing, following a public request made by Setty itself a few weeks ago

Payment apps, DoT help avert ₹200 cr potential fraud: PhonePe co-founder

PhonePe claims to have helped citizens avert potential financial fraud losses of around Rs 125 crore, while Paytm has helped save Rs 68 crore in the last 2 months

How GIFT City's new forex settlement system can be a game-changer for India

The new real-time foreign currency settlement system situates GIFT City among global financial centres like Hong Kong and Tokyo, with a promise of faster transactions and better liquidity

India's UPI expansion continues: Qatar latest to adopt, check full list

Union Minister of Commerce and Industry Piyush Goyal attended the launch of UPI in Doha, Qatar, marking another step in India's growing digital payments expansion abroad

Centre to allow digital payments via biometric authentication from today

Authentications will be done using biometric data stored under the Government of India's unique identification system - Aadhar

CBIC rolls out automated approval system for IFSC code registration

According to CBIC, the initiative will ensure swift processing of bank account and IFSC code approval requests, simplify registration across different ports

Cross-border payments to be PayPal's focus from India perspective

India is becoming an innovator and a leader globally, PayPal CEO says

Multi-line general, health insurers log muted growth after GST revamp

Multi-line general insurers grew 1.94% and standalone health insurers 3.09% in September, while specialised players saw strong premium expansion

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