RBI Unveils ₹2 Lakh Cr Bond Buys to Push Liquidity
The Reserve Bank of India announced it will add liquidity to the banking system by buying ₹2 lakh crore in government bonds and conducting a $10 billion swap of dollars and rupees. The central bank said these actions will take place from December 29, 2025, to January 22, 2026, to ensure banks have enough money…
Vipin
India to Enable Digital Payments via Biometrics
India approved the payment method using fingerprint and facial recognition, effective October 8. The authentication will be complete using biometric data stored under the Government of India’s unique Identification system, Aadhaar, said sources familiar with the matter. The initiative follows recent transaction rules, as NPCI revised its limits guidelines in accordance with the RBI, which…
RBI May Lower Rates by 25 Basis Points to Boost Spending
State Bank of India research reports state that they urged a 25-basis-point rate cut, claiming this is “the best possible option” for the RBI. However, some experts believe that the Central Bank’s rate-setting panel will likely opt for a status quo to announce its bi-monthly monetary policy on October 1. RBI Governor Sanjay Malhotra, who…
Shipra Prajapati
AU Bank Bags RBI Clearance to Become Universal Bank
AU Small Finance Bank has received the RBI’s in-principle approval to convert into a Universal Bank, a landmark move in its strategic growth trajectory. AU Financiers started its small finance bank operations in April 2017 after receiving the licence in 2015. By June 2025, the bank had built a network of over 2,500 branches and…
ABHYUDAYA MITTAL
RBI May Relax Rules for Foreign Ownership in Indian Banks
India’s central bank for finance, the Reserve Bank of India, is preparing to update rules so that foreign banks can own more of India’s banks. This move is driven by overseas interest in acquisitions and the economy’s need for long-term capital. Last month, the Reserve Bank of India (RBI) relaxed rules for Japan’s Sumitomo Mitsui…
Sumit
ATM Withdrawals to Rail Tickets: 6 News Rules From May 1
The month of May is bringing several changes this year across various sectors, including banking, transportation, energy, and taxation. Here is a comprehensive overview of the key changes. Changes to Come into Effect ATM Withdrawals Starting from May 1, 2025, the Reserve Bank of India (RBI) has approved an increase in interchange fees for ATM…
Shaktikanta Das Appointed Principal Secretary to PM Modi
In a significant bureaucratic reshuffle, former Reserve Bank of India (RBI) Governor Shaktikanta Das has been appointed as the Principal Secretary to Prime Minister Narendra Modi, as per a government notification released today. The Appointments Committee of the Cabinet (ACC) has confirmed that Das’ tenure will be co-terminus with the Prime Minister’s term or until…
New India Cooperative Bank GM Hitesh Mehta Arrested
A holiday Mumbai court hearing on Sunday, February 16, remanded Hitesh Mehta, GM (General Manager) and accounts head of the New India Cooperative Bank, in Police custody till February 21. The 57-year-old Hitesh Mehta is accused of withdrawing Rs 122 crore from the lender’s Prabhadevi and Goregaon branches. The alleged fraud was discovered on Wednesday,…
RBI Injects ₹40,000 Cr Into The Indian Banking System
The Indian banking system recently experienced a liquidity deficit of ₹2 lakh crore, with an average deficit of ₹1.5 lakh crore as of January, the RBI data shows. To address this deficit, the Reserve Bank of India injected around ₹40,000 crore into the banking system. The RBI used bids worth ₹30,760 from the overnight variable…
Himanshu
India’s GDP Expected To Grow At 6.4% In The FY25
On January 7, 2025, the centre released estimates for India’s GDP (Gross Domestic Product) growth rate in the current fiscal year. According to this estimation, the country’s GDP is predicted to grow at 6.4% in the fiscal year 2024-25, marking a four-year low and a sharp decline from 8.2% in FY24. A recent report from…
