Page 45 - Finance News
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
 "RBI links Bharat Connect, FX-Retail to facilitate dollar transactions")
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
 "Amazon Pay India revenue drops 7% in FY25 amid festive surge in usage")
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 launches new tech subsidiary to boost payments innovation in India")
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
 "NPCI to roll out biometric authentication for digital payments from Oct 8")
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
 "India to roll out digital currency; Piyush Goyal flags unbacked crypto")
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
 "NBFCs, capital markets lead consents in account aggregator system")
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
 "Six states evince interest to join UPS, says PFRDA Chairman S Ramann")
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
 "India launches UPI payment system in Qatar's Lulu Group stores")
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
 "Supreme Court to hear plea challenging constitutional validity of STT")
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
 "Adani Green gets $250 million in first offshore loan since investigation")
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
 "Hero Future Energies secures ₹1,908 cr funding from SBI, Canara Bank")
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
 "Microfinance sector faces funding crunch, default fears amid 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
 "SBI aims to be one-fourth of India's GDP by assets: Chairman C S Setty")
Warburg Pincus to invest ₹500 cr in Truhome Finance, says CEO Subramanian
He further mentioned that, aside from the fund infusion, the company has the "scale and figures" needed for an initial public offering
 "Warburg Pincus to invest ₹500 cr in Truhome Finance, says CEO Subramanian")
Sitharaman launches campaign to return ₹1.84 trn unclaimed financial assets
Most of the locked-up funds are in the form of deposits, insurance, provident fund, and shares, Finance Minister Nirmala Sitharaman said, calling on officials to ensure they reach the rightful owners
 "Sitharaman launches campaign to return ₹1.84 trn unclaimed financial assets")
States, UTs to borrow ₹2.81 trillion via bonds in Q3 FY26, says RBI
States and Union Territories will borrow Rs 2.81 trillion in Q3 FY26 through securities, with borrowing patterns shaped by GST changes, redemptions and tax devolution
 "States, UTs to borrow ₹2.81 trillion via bonds in Q3 FY26, says RBI")
RBI grants FIDC self-regulatory status to oversee non-bank lending sector
The FIDC is a representative body of non-banking financial companies (NBFC) registered with the RBI
Lower CASA ratios, declining FDS raise deposit stability concerns for bank
This comes amid concerns in some quarters over the increased preference for capital market investments by households looking for higher yields
 "Lower CASA ratios, declining FDS raise deposit stability concerns for bank")
India's forex reserves fall $2.3 billion to $700.23 billion, shows RBI data
Last week, India's forex kitty had declined by $396 million to $702.57 billion, data showed
 "India's forex reserves fall $2.3 billion to $700.23 billion, shows RBI data")