Page 6 - Finance News
India in talks with 7-8 countries to extend UPI services: DFS secretary
India plans to expand UPI to 7-8 more countries by next year as DFS says the goal is to prioritise Middle East and East Asia, even as banking health strengthens and insurance remains a key focus
 "India in talks with 7-8 countries to extend UPI services: DFS secretary")
SBI chief pitches for national financial grid to check digital frauds
It will be a dedicated intelligence infra company that will enable real-time intel sharing among banks and other financial-sector participants to strengthen customer protection against digital frauds
 "SBI chief pitches for national financial grid to check digital frauds")
CBDT confident of meeting FY26 tax target; refund checks slowing outflows
Chairman Ravi Agarwal says the department expects to meet its ₹25.2 trillion direct tax goal for FY26, with refunds slowing due to verification of incorrect claims and a dip in filings this year
 "CBDT confident of meeting FY26 tax target; refund checks slowing outflows")
GST reforms expected to ignite animal spirits in financial sector: DEA secy
Recent uncertainties created by global tariffs have not impacted the Indian economy severely, she said
 "GST reforms expected to ignite animal spirits in financial sector: DEA secy")
The Sixteenth Finance Commission submits its five-year fiscal blueprint
Panel's recommendations sent to PM and finance minister; report to be tabled in Parliament
 "The Sixteenth Finance Commission submits its five-year fiscal blueprint")
Insurance could be exempted from GST so that insurers can claim ITC: LIC MD
LIC MD Ratnakar Patnaik urges the government to exempt insurance from GST to restore input tax credit and suggests raising the tax threshold for high-value insurance policies
 "Insurance could be exempted from GST so that insurers can claim ITC: LIC MD")
ITR forms, rules under new Income Tax Act to be notified by Jan: CBDT chief
The intent of the department is to keep the I-T Return forms simple to ease compliance under the new law, which replaces the six-decade old Income Tax Act, 1961, CBDT chief Ravi Agrawal said
 "ITR forms, rules under new Income Tax Act to be notified by Jan: CBDT chief")
RBI's export relief may dent dollar flows, pressure rupee, say bankers
The RBI on Friday announced a package of relief measures to help exporters cope with the pressure from US tariffs, including extending the export realisation window to 15 months from nine
 "RBI's export relief may dent dollar flows, pressure rupee, say bankers")
RBI's 10% Tier-I cap on acquisition financing restrictive, say bankers
Experts suggest 30% equity contribution should include preference shares and convertible instruments
 "RBI's 10% Tier-I cap on acquisition financing restrictive, say bankers")
Treading with care at a new frontier: RBI cautious on banks' M&A funding
Mint Road's proposals on banks' M&A funding are cautious even as entrants root for more elbow room, and weigh business models
 "Treading with care at a new frontier: RBI cautious on banks' M&A funding")
Card payments get a tech lift as fintechs expand device tokenisation
This contrasts with card-on-file tokenisation (CoFT), where tokens are stored on the merchant's or the payment processor's servers instead of the user's device
 "Card payments get a tech lift as fintechs expand device tokenisation")
Tax and tariff disruptions reshape supply chains as strategic engines: PwC
PwC India's survey says shifting tariffs, uncertainty are testing supply chain resilience, even as firms underuse AI, face rising ESG pressures and struggle to give supply chains strategic influence
 "Tax and tariff disruptions reshape supply chains as strategic engines: PwC")
RBI in 'formidable position' to fulfil public policy mandates: DG Murmu
RBI Deputy Governor Shirish Chandra Murmu says the central bank's economic capital, risk buffers and revaluation practices place it in a strong position to meet its policy mandates
 "RBI in 'formidable position' to fulfil public policy mandates: DG Murmu")
ICL Fincorp to launch ₹100 crore NCD issue offering 12.62% effective yield
The issue has a base size of Rs 50 crore and a green-shoe option of Rs 50 crore. The instruments are rated BBB- by domestic rating agency Crisil
 "ICL Fincorp to launch ₹100 crore NCD issue offering 12.62% effective yield")
Banking system credit grows 11.3% in October 31 fortnight: RBI data
According to the data, banking system credit stood at Rs 193.9 trillion, while deposits stood at Rs 241.7 trillion during this period
Finance ministry to vet ongoing schemes for 16th Finance Commission
Ministries asked for five-year outlays and outcome assessments
 "Finance ministry to vet ongoing schemes for 16th Finance Commission")
Inefficiency in MFIs leads to high interest rates: DFS secretary M Nagaraju
DFS secretary M Nagaraju flags a sharp fall in loan accounts and disbursals, urges MFIs to introspect, consolidate operations, and revive passion for financial inclusion
 "Inefficiency in MFIs leads to high interest rates: DFS secretary M Nagaraju")
SBI aiming to modernise its core banking infrastructure in next 2 years
India's largest lender is overhauling its IT backbone for agility, scale, and AI-led efficiency
 "SBI aiming to modernise its core banking infrastructure in next 2 years")
Banks move to '.bank.in' domain from '.com': Here's why RBI made the change
Starting October 31, the Reserve Bank of India asked all banks to move their websites to the new '.bank.in' domain to stop phishing scams
super.money issues 470,000 RuPay credit card in partnership with banks
Fintech super.money issued over 4.7 lakh RuPay credit cards through Axis Bank, Kotak811, and Utkarsh SFB, expanding access to first-time credit users across India
 "super.money issues 470,000 RuPay credit card in partnership with banks")
