Reportedly, talks are underway between UPI and Ant International's Alipay+, a cross-border digital payment system, to facilitate UPI's continued international expansion by the Indian government and the Reserve Bank of India (RBI). Tourists from India would be able to use UPI with Alipay+-registered merchants abroad
The Reserve Bank of India granted the Payment Aggregator-Physical (PA-P) licence to Razorpay POS, the company's offline payment division. Razorpay POS can now function as an offline payment aggregator for in-store transactions thanks to this licence. The fintech stated that it now possesses three significant RBI licences, which
On January 14, the Reserve Bank of India (RBI) gave Sumitomo Mitsui Banking Corporation (SMBC) of Japan "in-principle" approval to establish a wholly-owned subsidiary (WOS) in India. With four branches in Bengaluru, Chennai, Mumbai, and New Delhi, SMBC presently operates banking activities in India via branch format. With
The Reserve Bank of India (RBI) granted Skydo, a cross-border payments technology, a full licence on 9 January to operate as a Payment Aggregator-Cross Border (PA-CB). The Bengaluru-based payments company said it will broaden its product offerings and increase coverage in more trade corridors with the full licence. Skydo can
Following an initial investigation by the Mumbai Police's Economic Offences Wing (EOW), the Ministry of Corporate Affairs' Serious Fraud Investigation Office (SFIO) has begun a comprehensive investigation into suspected accounting errors totalling more than INR 2,000 crore at IndusInd Bank. Sources claim that the probe was
The Reserve Bank of India (RBI) has given HDFC Bank's subsidiaries permission to purchase up to a 9.5% share in IndusInd Bank. India's biggest private sector lender by market value stated in an exchange statement on 15 December that the permission is effective for a
Razorpay for Businesses, a payments and banking platform, announced on 2 December that it has obtained a Payment Aggregator-Cross Border (PA-CB) licence from the Reserve Bank of India (RBI). According to a business release, Razorpay is now one of a small group of fintech companies that are allowed to process
On November 28, HDFC Bank Ltd stated that the Reserve Bank of India (RBI) has levied an INR 91 lakh punishment. In a press release, the RBI noted violations of the Banking Regulation Act as well as failure to follow guidelines pertaining to interest rates, outsourcing, and Know Your Customer
Tuhin Kanta Pandey, the chairman of the Securities and Exchange Board of India (SEBI), announced on 11 October that the market watchdog is simplifying regulatory procedures to facilitate NRI investments in Indian equities markets. In order to eliminate the need for NRIs to return to India in order to fulfil
The Bombay High Court last week upheld the State Bank of India's (SBI) decision to label the accounts of Reliance Communications (RCom) as "fraud" and submit Anil Ambani's name to the Reserve Bank of India (RBI). On October 3, a panel of Justices Revati
In an effort to increase bank loan availability for both individuals and businesses, the Reserve Bank of India (RBI) recently announced a number of significant measures. In addition to loosening limitations on lending against shares and debt securities, the central bank has chosen to permit banks to finance acquisitions by
Based on robust growth in the June quarter and the implementation of GST reforms, EY increased India's real gross domestic product (GDP) forecast for the fiscal year 2025–2026 (FY26) from 6.5% to 6.7%. EY stated in its 'Economy Watch' report for September 2025
The Tata Group's premier financial services company, Tata Capital, moved one step closer to its massive initial public offering (IPO) on September 26 when it submitted its red herring prospectus to the bourses and Sebi. According to an exchange disclosure, the offer includes a new issue of up
According to a report released on 25 September, the Reserve Bank of India's monetary policy committee (MPC) is expected to keep the repo rate at its current level in its October review, taking into account the favourable effects of the GST reforms on demand, the stronger-than-expected Q1 FY26
The Reserve Bank of India (RBI) has granted Walmart-owned fintech PhonePe full approval to function as an online payment aggregator (PA). This comes more than two years after the RBI granted PhonePe in-principle permission to function as an online payment aggregator in August 2023. With the approval, PhonePe will be
In the event that US President Donald Trump's tariffs take effect, the Reserve Bank of India (RBI), as it has in the past, will intervene and offer financial assistance to the most severely affected industries to help them weather the storm, RBI Governor Sanjay Malhotra stated in Mumbai
In a regulatory filing, Bank of India, following State Bank of India, designated Reliance Communications' loan account as fraudulent and named its former director, Anil Ambani, on the basis of alleged fund diversion in 2016. Ambani retaliated against the Bank of India, claiming that its actions were biased and
The Reserve Bank of India (RBI) has approved a plan by Japanese lender Sumitomo Mitsui Banking Corporation to purchase up to 24.99% of the private sector lender, Yes Bank announced on 23 August. In the biggest cross-border investment in the Indian banking industry, the Japanese lender declared in May
On 19 August, Punjab National Bank said that it has chosen the domain name bank.in and that, instead of using the current www.pnb.co.in, its website will now be www.pnb.bank.in. PNB Strengthens Digital Security “In accordance with the RBI circular on 'Migration to
An expert group at the Reserve Bank of India has been looking for a comprehensive AI policy framework for the financial sector in light of the growing prevalence of AI-led innovation across many industries. Such a framework would offer adaptable, future-focused direction on AI innovation, adoption, and risk reduction in
The RBI's in-principle approval of AU Small Finance Bank's conversion from a Small Finance Bank to a Universal Bank caused its shares to soar by more than 7% on 8 August. In the first trade, shares of AU Small Finance Bank surged up to 7.52%
To make digital banking safer for all users, the Reserve Bank of India (RBI) has released a draft of new regulations. Internet banking, mobile banking, and any other online services provided by banks are covered by the new regulations. The new regulations require banks to provide consumers with clear options,
The Reserve Bank of India (RBI) has granted a prepaid payment instruments (PPI) licence to Zinka Logistics, a subsidiary of listed logistics giant BlackBuck. The business stated in an exchange statement that its fully owned subsidiary, TZF Logistics Solutions Pvt Ltd, was awarded the licence by the central bank. Banks
The RBI has instructed banks and payment institutions to incorporate the telecom department's (DoT) financial fraud risk indicator (FRI) into their systems in light of the increasing number of cybercrimes. The RBI guideline, released on June 30, seeks to use cutting-edge technologies to combat cybercrime. The DoT hailed