Page 77 - Finance News

RBI plans guidelines to curb mis-selling of financial products in FY26

As complaints rise, RBI will frame rules in FY26 to curb mis-selling of financial products by banks and NBFCs, with possible impact on insurers' banca channels

Centre announces unified pension scheme for retired NPS subscribers

The new scheme provides a guaranteed monthly pension, lump sum payout, and interest-bearing arrears for NPS subscribers who retired on or before 31 March 2025

Jharkhand govt urges finance commission to raise tax share to 50%

The finance commission team on Thursday visited Jharkhand's temple town of Deoghar and offered obeisance at the Baba Baidyanath temple

RBI to prepare framework for ethical adoption of AI in financial sector

It has constituted an external committee in December 2024, comprising experts with a mandate to recommend a Framework for Responsible and Ethical Enablement of AI in the financial sector

Banks set to miss fourth deadline to roll out cassette-swap system for ATMs

Banks, cash handling firms, and managed service providers are yet to work out the absorption of costs involved in the trade as well as the logistics of switching to the new system

Rupee snaps two-month rally; reverses early gains to end lower at 85.36/$

Indian Rupee today: The domestic currency ended 6 paise lower at 85.36 against the US dollar, after closing at 85.52 on Thursday

Sixty one per cent of floating rate loans linked to EBLR as of Dec 2024

Meanwhile, loans linked to marginal cost of funds based lending rate (MCLR) has reduced to 36 per cent as of December 2024, Reserve Bank of India (RBI) annual report revealed

Net financial savings likely to touch Rs 22 trn in FY25: SBI report

The net financial savings during 2023-24 stood at 5.1 per cent of GNDI, an increase from 4.9 per cent in the previous fiscal

Rupee snaps three-day fall; opens at 85.36/$ as dollar revival fizzles out

Indian Rupee today: The domestic currency opened 16 paise stronger at 85.36 against the US dollar, after ending at 85.52 on Thursday

Fake ₹500 notes at six-year high in FY25, ₹2000 counterfeits fall: RBI

The number of counterfeit notes below ₹200 denomination also rose by 13.9 per cent YoY to 32,600 pieces

UPI's contribution to payments ecosystem volume grows to 83.4% in FY25

UPI recorded 185.8 billion transactions in FY25, up 41.7% from FY24, with India's digital payments now accounting for 99.9% of non-cash retail payments, according to RBI data

RBI balance sheet grows 8.2% to ₹76.25 trillion in FY25, surplus up 27%

RBI's balance sheet grew to ₹76.25 trillion in FY25 with a record ₹2.69 trillion surplus and higher gold, domestic and foreign investments; gold holding rose 57.48 tonnes

Net household financial savings rebound, India to lead growth in FY26: RBI

"The benign inflation outlook and moderate growth warrant monetary policy to be growth-supportive while remaining watchful about the rapidly evolving global macroeconomic conditions," it said

Reserve Bank of India lens on payment fintechs over misclassified merchants

Several payment aggregators are said to have misclassified merchants, typically in the retail category, under utility - a segment that traditionally draws lower interchange rates

Bank fraud cases fell in FY25, amount rose threefold to ₹36,014 cr: RBI

Most cases in digital payments involved ₹520 crore, says regulator in annual report

FPIs' investment in corporate bonds rises 11.4% in FY25: RBI report

Primary corporate bond issuances during the year rose by 16.1 per cent to ₹9.9 trillion, up from ₹8.6 trillion in 2023-24

India Inc needs scheme like Vivaad se Vishwas, says Sunil Bharti Mittal

Says government must launch Vivad se Vishwas scheme for corporates to release locked funds, backs a uniform 25% tax rate and 'one nation, one election' for economic efficiency

Almost-universal UPI usability in 15-29 age group in India, finds survey

The study found that about 85.5% of Indian households have at least one smartphone, while 86.3% have access to the internet within the home

Govt set to relax rules under Advance Authorisation scheme for exporters

Exporters may soon be eligible for Advance Authorisation benefits even if goods are shipped before licence issue, provided the Bill of Entry is filed after the licence date

India VC deals rise 19%, funding up 20% in early 2025: GlobalData

India's VC ecosystem grew strongly in early 2025 with deal volumes up 19% and funding up 20%, bucking the global trend of slowdown in markets like China and the UK