Cash

Nobody legislates back phone booths

India built the best digital payment rails with a regulator that set the architecture before the volume arrived, and the physical rails deserve the same

MDR unlikely to trigger shift back to cash: RBI Deputy Governor S C Murmu

RBI Deputy Governor S C Murmu says MDR will help the payments ecosystem recover costs, while cash continues to retain a significant role as a store of value

RBI sells ₹50000 cr govt securities in OMO to drain surplus liquidity

India's central bank sold ₹50000 crore ($5.2 billion) of bonds under its open market operations program as it stepped up efforts to drain surplus cash from the banking system

Agentic AI could improve corporate cash forecast accuracy to 90%: EY

EY India says treasury teams spend up to 70% of their time on manual work, while agentic AI could improve cash forecast accuracy to as much as 90%

Best of BS Opinion: Digital transactions haven't dented demand for cash

Today's opinion pieces examine India's persistent demand for cash, aviation safety, the coming leadership change at Tata Sons, the impact of US-China trade and life inside Tihar

The cash paradox

Regulating the issue of banknotes was one of the main reasons for the establishment of the RBI in 1935

Arbitrage funds' NAVs stabilise after closing auction volatility

Aug 3 spike largely reversed in next 3 sessions; movements now back in usual trajectory

Cash discovery row: LS panel finds charges against Justice Varma proved

The inquiry committee also concluded that material evidence was not preserved after a fire broke out at his residence and his subsequent explanations were 'evasive' and 'misleading'.

Charges against Justice Varma 'proved': LS probe panel on cash discovery

A panel set up by Lok Sabha Speaker to probe allegations of discovery of cash at the official premises of Justice Yashwant Varma has concluded that the charges of unexplained cash, disturbing evidence and evasive explanation against him "are proved". In its report submitted in both houses of Parliament on Wednesday, the three-member committee constituted under the Judges (Inquiry) Act said Justice Varma failed to furnish satisfactory explanation on the presence, source or ownership of cash found in the store room of his official residence. The panel also said that material evidence was not secured or preserved and the evidentiary condition of the storeroom was disturbed before the lawful sealing and inspection. It also found that the explanation by Justice Varma did not exhibit candour, transparency and institutional responsibility expected in the circumstances. "It remained evasive and unsatisfactory when tested against the evidence of independent official witnesses and corroborat

Cash market turnover declines in June after touching 22-month high in May

Average daily cash market turnover across the NSE and BSE fell 7 per cent in June, while derivatives activity edged up on higher volumes during the month's final expiry sessions

India's cash paradox: Why UPI's record growth has not reduced cash in circulation | Business News

India's UPI network processes a record number of transactions every month. Yet cash in circulation continues to hit new highs.

India has record cash: So why are ATMs running dry? | Currency | RBI | Digital payments

India’s currency in circulation is at a record high, but ATM operators are facing difficulty in getting enough cash to refill machines. The Department of Financial Services has asked banks to submit d

ATM industry calls for cash-recycler interoperability as costs rise

ATM operators and manufacturers are urging banks to activate cash-recycler interoperability, saying it can improve efficiency and help reduce mounting cash logistics and operating costs

India denies any payment to Iran for Hormuz passage, calls reports fake

India on Wednesday denied making any payments - either in cash or cryptocurrency - to Iran to secure safe passage for its vessels through the Strait of Hormuz amid heightened tensions in the region. The clarification came after two Indian vessels had to turn back from the Strait of Hormuz after Iranian forces fired upon them as they attempted to cross the crucial waterway on April 18. Before turning back, the captain of Indian tanker Sanmar Herald, in an audio recording that has surfaced, is heard pleading with Iranian forces to stop firing despite prior clearance to pass the Strait of Hormuz. "This is motor vessel, Sanmar Herald. You gave me clearance to go, my name is second on your list... You are firing now. Let me turn back." While New Delhi has consistently rejected claims of any financial arrangements with Tehran for ship movement through the critical energy corridors, some reports linked the April 18 incident to a crypto scam. Reports suggest scammers are offering shipowner

FIA flags concerns over Sebi's closing auction plan, seeks changes

FIA has urged Sebi to revise its closing auction session proposal, warning of price discrepancies, expiry-day risks, and operational complexity without harmonisation

Cash market turnover hits 8-month high in May on market recovery

Equity cash volumes rose 9% month-on-month to ₹1.16 trillion in May, lifted by a rally in mid and small-cap stocks; F&O volumes declined due to tighter norms

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

Cash found at judge's house after fire: Who is Justice Yashwant Varma?

Supreme Court Collegium has ordered the immediate transfer of Delhi High Court Judge Justice Yashwant Varma after discover of cash hoard at his residence

52 kg gold, Rs 9.86 crore cash found in abandoned SUV near Bhopal forest

52 kg of gold and Rs 9.86 crore in cash were found in an abandoned SUV near a Bhopal forest, raising suspicions of links to ongoing raids on real estate businesses

MF schemes see 5% drop in cash holding in Nov; lowest level in 4 months

The cash holding, which rose to a high of 6 per cent in September, has been declining since October amid market correction