RBI announces Monetary Policy Committee schedule for FY2025-26, first rate decision on April 9
The Reserve Bank of India (RBI) has released the schedule for the bi-monthly Monetary Policy Committee (MPC) meetings for the financial year 2025-26. The first meeting of the fiscal will take place from April 7-9, with the rate decision set to be announced on April 9. The next meeting will commence on June 4.

Bill to allow 4 nominees in bank accounts gets Parliamentary nod
New Delhi: Parliament on Wednesday passed the Banking Laws (Amendment) Bill, 2024, which allows bank account holders to have up to four nominees, with the Rajya Sabha approving it by a voice vote. Another change in the Bill relates to redefining of the term ‘substantial interest’ of a person in a bank. The limit is sought to be enhanced to ₹2 crore from the current ₹5 lakh, fixed almost six decades ago.

Measures taken to combat money laundering should not stifle investments: RBI Governor
New Delhi : Reserve Bank of India (RBI) Governor Sanjay Malhotra asserted that the measures taken to combat money laundering should not be overzealous, as they could stifle legitimate activities and investments.

Gift City advances to 46th position in Global Financial Centres Index
Ahmedabad: Gujarat International Finance Tec-City (Gift City) climbed to the 46th position from the earlier 52nd in the latest edition of the Global Financial Centres Index (GFCI 37), an official release stated Wednesday.

RBI imposes Rs 75 lakh penalty on HDFC Bank for regulatory violations
RBI slaps Rs 75 lakh fine on HDFC Bank for KYC norm violations
The Financial Express

Banking Laws Amendment Bill gets Rajya Sabha's nod; depositors can nominate four members for bank accounts or FDs
Parliament amends banking laws to allow 4 nominees
The Financial Express

RBI allows standalone primary dealers to participate in all repo operations

The Reserve Bank of India (RBI) on Wednesday allowed standalone primary dealers (SPDs) to participate in all repo operations, irrespective of the tenor, conducted by the central bank.

Revised PSL guidelines underscore RBI’s ‘in sync’ approach to fine tune building blocks of factors of production: SBI Research
 

Central Government discontinues Gold Monetisation Scheme; banks may continue
 

No major lapses found in gold loan portfolios of PSBs after audit: FM
 

India swap market prices in aggressive rate cuts by RBI in FY26
With inflation close to the Reserve Bank of India's target and growth weak, the country's overnight indexed swap (OIS) markets have started pricing in far more aggressive rate cuts by the central bank than previously anticipated. OIS rates, the closest gauge of interest rate expectations, have eased by 10-15 basis points so far in March, with the absolute levels hinting at more than 50 basis points of rate cuts cumulatively over the next 12 months. India's fiscal year 2025-26 begins on April 1.

Around 20% of UHNWIs look to settle abroad: Kotak Private Banking survey
 

Retail credit growth moderated for NTC customers in December qtr
Consumption-led products include credit cards, personal loans, and consumer durable loans.

ATM cash withdrawals to get costlier from May 1
 

Tightening regulations, underwriting standards in microfinance will rein in growth plans for lenders: S&P
Mumbai: Tightening regulations and stricter underwriting standards in Indian microfinance will rein in growth plans for sector lenders and defuse risk buildup for overleveraged borrowers, said S&P Global Ratings.

NBFC resilient: Nomura sees growth amid global turmoil
Global economic uncertainties arrive from a variety of factors, including geopolitical tensions, inflation, interest rate fluctuations, trade disruptions, and financial market volatility, and interestingly, India’s NBFCs, as a sector, have been relatively insulated from these. The NBFC sector has maintained double digit credit growth, supported by adequate capital levels and healthy delinquency trends, stated a report by Nomura. “While the sector has demonstrated stability, unsecured personal loans have been a key area of concern over the past year. Rising delinquencies in FY24 led to higher risk weights on unsecured loans, tightening liquidity for lenders. RBI intervention slowed excessive risk-taking, pushing lenders to adopt stricter underwriting,” the brokerage firm said. 

UPI Down: Digital payments hit! Google Pay, PhonePe, Paytm face outage amid nationwide UPI glitch
Users across India are experiencing disruptions in UPI transactions, with payment failures reported on Google Pay, Paytm, and various banking apps. According to Downdetector, outage reports spiked in the evening, affecting fund transfers, transactions, and login access. The outage caused frustration among users relying on these apps for daily transactions.

BHIM 3.0 launched with special features to track and split expenses! Everything users need to know
Now you can use BHIM (Bharat Interface for Money) to make payments and track, manage, and split your expenses with friends and family. NPCI BHIM Services Limited (NBSL), a wholly-owned subsidiary of the National Payments Corporation of India (NPCI), has launched BHIM 3.0.

UPI outage disrupts payments across India, NPCI says issue resolved
Mumbai: The National Payments Corporation of India’s flagship retail payment platform – the Unified Payments Interface (UPI) – faced an outage across the country due to intermittent technical issues since Wednesday morning, leading to a partial decline in transactions. Users who were unable to make transactions through various payment apps based on the UPI platform took to social media platform X to complain about the inability to make payments via UPI. @shekhar_damle posted: “This issue has been occuring since this morning.” Another X user @MAYANK8382 noted, “hope below 200₹ people sift to e-₹ concept and reduce the load on banking system..”

Get set for UPI access to one’s provident fund
Come the end of May or June, India’s provident fund (PF) subscribers will be able to withdraw money from their retirement kitties through UPI or ATMs, according to labour and employment secretary Sumita Dawra.

MobiKwik plans to enter broking business through subsidiary
One MobiKwik Systems on Wednesday said that it has incorporated MobiKwik Securities Broking Pvt Ltd (MSBPL), that will cater to stock broking and derivatives trading business. The Ministry of Corporate Affairs, Central Processing Centre, approved the incorporation of MSBPL as a wholly owned subsidiary of MobiKwik on March 3, it said in a notice to the exchanges.

Nithin Kamath Exclusive: ‘The stock market is the toughest place to make easy money’
What is the investment mantra from Zerodha CEO and founder, Nithin Kamath? In an exclusive interview with FinancialExpress.com, he shares his message for new investors, the common mistakes and the asset classes he favours.

Women investors deploy bigger sums in mutual funds than men
 

KKR to sell up to 10.2% stake in JB Chemicals at ₹1,708.75 per share
Mumbai: Private equity firm KKR has launched an offer to offload up to 10.2 per cent of its stake in JB Chemicals and Pharmaceuticals for a deal worth up to $300 million, according to a term sheet viewed by businessline.

IRFC, IIFCL raise funds through long term bonds at attractive coupon rates