Page 2 - Finance News

RBI MPC members hint at rate hike as inflation may rise in coming months

RBI Governor Sanjay Malhotra preferred to wait for greater certainty on the inflation trajectory, as he and other members of the MPC voted to maintain the existing interest rate earlier this month, according to minutes of the meeting of the rate-setting panel released on Wednesday. The Governor-headed six-member Monetary Policy Committee (MPC) decided to keep the benchmark policy rate (repo) unchanged for a fourth consecutive time, opting to wait for greater clarity on whether higher energy costs triggered by the US-Iran conflict feed into broader inflationary pressures. Despite the conflict in West Asia disrupting supply chains, heightened uncertainty, and an erratic monsoon so far, the Indian economy has performed better than expected in Q1:2026-27, the Governor said as per the minutes. Monetary response to a supply-side shock is warranted when there are signs of it leading to a generalisation of inflation, de-anchoring of inflation expectations or persistent inflation. While risk

Domestic donations to PM CARES fund down by 30% to ₹479 crore in FY25

Domestic donations to the PM CARES Fund fell by 30 per cent to nearly Rs 479 crore during the fiscal year 2024-2025 while foreign donations also declined by 18 per cent to Rs 92.8 lakh, according to its latest audit report. The total balance in PM CARES Fund stood at Rs 8,452 crore as on March 31, 2025, up from Rs 7,173 crore a year ago. Of this, Rs 7,846 crore was parked in fixed deposits and Rs 605 crore in savings bank accounts, the report said. The domestic donations received by the PM CARES in fiscal year 2023-24 stood at Rs 681.8 crore, while it had got foreign donations totalling Rs 1.13 crore. The fund spent Rs 87.8 lakh on PM CARES for Children Scheme during 2024-25, sharply down from Rs 15.37 crore in the previous year. Total payments made during the year 2024-25 was Rs 87.85 lakh, as against Rs 15.6 crore in the previous fiscal. A study of the audited statements on the Prime Minister's Citizen Assistance and Relief in Emergency Situations (PM CARES) Fund website shows

Taxation, Payment and Settlement Systems amendment get President's nod

President Droupadi Murmu has given her assent to the Taxation and Other Laws (Amendment) Act, 2026, and another law to amend the Payment and Settlement Systems Act of 2007. The bills were passed by Parliament on August 10. The Taxation and Other Laws (Amendment) Act, 2026, and an Act to further amend the Payment and Settlement Systems Act, 2007, have received the assent of the President on the August 17, 2026, the Ministry of Law said in a gazette notification. Through the taxation Act, the government seeks to attract more foreign capital, promote domestic electronics manufacturing and make it easier for foreign cloud companies to use Indian data centres by providing "process certainty". The amendment to the Payment and Settlement Systems Act, 2007, gives a legal backing to the government to modify the zero-MDR framework on UPI and RuPay card transactions. The government can now decide, via notification, which electronic payment modes or transactions would remain free from MDR ...

India's BoP deficit widens to $8.1 billion in Q1FY27 on capital outflows

Q1 current account deficit at $3.1 billion; $6.2 billion in June

Sebi proposes settlement framework overhaul, seeks simpler calculations

The regulator has proposed a simpler formula for settlement amounts, lower additional charges for refiling and allowing settlement applications at the appellate stage

Bank deposit growth hits highest since December 2016 at 15.4%: RBI data

Aggregate deposits rose by Rs 6.61 trillion in the fortnight ended July 31, while bank credit growth accelerated to 19.3 per cent, its highest since May 2024

India sees sharp expansion in retail, MSME credit access since 2021

Retail bureau coverage rose 1.7 times to 78.9 crore borrowers by 2026, while active MSME borrowers more than doubled to 1.9 crore over the five-year period

Sebi proposes mandatory 'Credit Risk-o-Meter' for debt securities

Under the proposal, issuers and online bond platform providers (OBPPs) would be required to display the Credit Risk-o-Meter in offer documents, abridged prospectuses, private placement memorandums

Compare the best super top-up health cover plans before picking one

With healthcare costs rising sharply, comprehensive health insurance and super top-up plans are becoming a necessity for urban Indians seeking stronger financial protection

Emirates allows free date changes on Dubai flights; refund charges lowered

Emirates passengers flying to Dubai can change travel dates without a fee, while refund charges have also been reduced on eligible fares

No India trip needed: 4 ways NRI pensioners can submit life certificate

Pensioners living abroad can avoid travelling to India for annual life certificate submission through digital, bank, embassy and authorised agent routes.

PF fraud alert: EPFO warns of fake links targeting your UAN, money

Fake websites and phishing links can expose your UAN, Aadhaar and bank details. Here's what members need to know

Sebi proposes raising annual ISIN limit for private debt securities to 17

The existing framework allows a maximum of 14 ISINs maturing in a financial year - nine for plain-vanilla debt and five for structured and market-linked debt securities

Govt clarifies UPI to remain free; MDR may apply to large merchants later

The Ministry of Finance said UPI users will continue to pay no transaction charges, while a possible MDR could apply only to select merchant transactions above a threshold.

RBI aims to absorb ₹2 trillion through seven-day VRRR auction on Monday

Banking-system liquidity was in a surplus of Rs 3.61 trillion on Thursday, while the weighted average call rate settled at 5.09 per cent, central bank data showed

Retired with EPF savings? Know when your money may stop earning interest

EPFO has told members that EPF savings do not earn interest indefinitely after retirement. Here's when interest can stop and what retirees should know.

SGB premature redemption in August: These investors can exit early

Eligible Sovereign Gold Bond investors can redeem select tranches this August. Check the redemption dates, deadlines and rules

MPC announcements: RBI's stance may boost bond market, says fund managers

Debt fund managers view the RBI's policy as supportive for bonds, but differ on duration strategy, with some favouring long-duration papers and others preferring shorter maturities.

Talks on UPI MDR structure still premature, says RBI Governor Malhotra

Governor Sanjay Malhotra says discussions on a merchant discount rate for UPI are premature, stressing the need for sustained investment to strengthen India's digital payments infrastructure.

RBI says bulk deposit norms aim to improve transparency, standardisation

Governor Sanjay Malhotra says the RBI's revised bulk deposit framework seeks to improve transparency and standardise deposit rate disclosures without making major changes to existing norms.