India's economic engine is revving up, but navigating the global headwinds requires sharp strategy. The rupee's recent volatility against the dollar underscores the complexities facing Indian businesses, impacting everything from import-export trade to domestic inflation. This week alone, we've seen significant shifts in the IT sector, with major players announcing restructuring and a renewed focus on AI-driven solutions. Meanwhile, the burgeoning startup ecosystem continues to attract substantial funding, despite a cautious global investor sentiment. The government's recent policy announcements on infrastructure development and digitalization are poised to further shape the business landscape, creating both opportunities and challenges for entrepreneurs and established corporations alike. Understanding these market dynamics is crucial for success in today's rapidly evolving Indian economy. Stay informed with Abtak.com for the latest insights and analysis on key sectors including finance, manufacturing, and technology – empowering your business decisions in a dynamic market. Explore the complete business news section now to stay ahead of the curve.
MUMBAI: RBI on Sept 15 issued new directions for payment aggregators (PAs), mandating stricter merchant vetting and extending oversight to physical payments.RBI's directions make PAs the first line of defense against fraud by requiring stronger KYC and risk-based due diligence, with larger merchants facing tighter checks. For the first time, offline PAs handling proximity payments - from kirana stores to big retail chains - must seek RBI authorisation and follow the same compliance standards as online platforms.The rules consolidate all PA regulations into a single master direction covering online, offline, and cross-border players, simplifying compliance. They also tighten norms for escrow accounts, mandating stricter controls on fund flows from delivery-versus-payment transactions to safeguard customers and merchants.
A bank does not require authorisation to carry out PA business, while for non-banks, the RBI has set specific capital requirements. The Reserve Bank on Monday issued directions to regulate payment aggregators, which came into effect immediately. As per the Reserve Bank of India (Regulation of Payment Aggregators) Directions, 2025, payments aggregators are categorised into three categories as per the work they undertake. These categories include PA-P for physical PAs; PA-CB for cross-border and ...Read More >
New Delhi: The CBI said on Thursday that it detected around 8.5 lakh mule bank accounts across over 700 branches of different banks, which were being used by cyber scammers. The agency filed an FIR and conducted raids at 42 locations in Delhi, UP, and Rajasthan in connection with the use of these mule accounts in cyber frauds.Nine individuals, including three Delhi residents named Lovkesh Shakya, Savan Kumar, and Vishal, were arrested. Farman Beg and Purushottam from Uttarakhand, Shubham Kamboj and Umardeen from UP, and Yousuf and Ashok from Rajasthan are also among those who have been arreste ...Read More >
The Central Bureau of Investigation has uncovered a massive cyber fraud operation. It involves 8.5 lakh mule accounts across India. These accounts are used to launder money from digital scams. The CBI conducted raids and arrested nine suspects. These include middlemen and bank officials. The investigation revealed lapses in KYC norms.The CBI has detected 8.50 lakh mule bank accounts in over 700 branches nationwide which are being used by cyber criminals to launder proceeds from scams involving di ...Read More >
New Delhi: The Reserve Bank of India (RBI) issued new guidelines for small business loans, increasing the lending flexibility for banks, in adjusting the additional interest or spread charged over the loan term. The RBI has also eased lending restrictions for businesses that depend on gold as a raw material. "Banks are generally prohibited from lending for the purchase of gold or silver in any form, or lending against the security of primary gold or silver. However, a carve-out has been allowed for Scheduled Commercial Banks (SCBs) for granting working capital loans to jewellers," the statem ...Read More >
New Delhi, Jun 26 (PTI) The CBI has detected 8.50 lakh mule bank accounts in over 700 branches nationwide which are being used by cyber criminals to launder proceeds from scams involving digital theft, impersonation, fraudulent investments, and UPI-based frauds, an enquiry by the agency has found. The central agency's crackdown on these mule accounts, opened using fake IDs for the limited use of siphoning victims' money, came through a coordinated search operation recently at 42 locations in Rajasthan, Delhi, Haryana, Uttarakhand and Uttar Pradesh during which nine suspects were taken into cu ...Read More >
MUMBAI: The Central Bureau of Investigation (CBI) has begun probing a few bank officials and middlemen as part of its investigation into a cybercrime case involving the receipt of ₹3.81 crore from multiple defrauded victims into a mule account. The CBI arrested S Palande, Y Thakur and S Singh in July, and the fourth person, identified only as Neeraj, this month. Neeraj allegedly convinced co-accused Palande to open the mule account at a private bank, according to agency sources. The other two were private agents. The funds of ₹3.81 crore, considered the proceeds of the crime, were deposited ...Read More >
New Delhi, Jun 26 (PTI) The CBI has detected 8.50 lakh mule bank accounts in over 700 branches nationwide which are being used by cyber criminals to launder proceeds from scams involving digital theft, impersonation, fraudulent investments, and UPI-based frauds, an enquiry by the agency has found. The central agency's crackdown on these mule accounts, opened using fake IDs for the limited use of siphoning victims' money, came through a coordinated search operation recently at 42 locations in Rajasthan, Delhi, Haryana, Uttarakhand and Uttar Pradesh during which nine suspects were taken into cu ...Read More >
New Delhi [India] September 16 (ANI): The Reserve Bank of India (RBI) has rolled out detailed regulatory guidelines for Payment Aggregators (PAs) and recommended baseline technology standards for Payment Gateways (PGs), to ensure safety, transparency and resilience in the fast-growing digital payments ecosystem. The central bank, in its notification titled "Guidelines on Regulation of Payment Aggregators and Payment Gateways", said that while PAs handle funds and therefore require direct regulation, PGs will be treated as technology providers and are encouraged to adhere to prescribed securit ...Read More >
India might ease fuel rules for small cars. Maruti Suzuki requested this change because small car sales are down. The government is worried about the drop in affordable car sales. Relaxing the rules could help Maruti, which sells many small cars. Other car companies are discussing this proposal. New rules may start in April 2027. ...Read More >
Kolkata, Aug 14 (PTI) Chief Minister Mamata Banerjee on Thursday said India would not have got Independence if Bengal was not there, as personalities like Rabindranath Tagore and Subhas Chandra Bose, who contributed significantly to shaping the nation's destiny, were born here. Speaking at a function marking the 12th anniversary of the 'Kanyashree' scheme, Banerjee said Bengal is the beacon of hope which stands for unity amid diversity. "If Bengal was not there, India would not have got Independence. Bengal's soil has produced eminent people like Rabindranath Tagore, Nazrul Islam and Subhas ...Read More >
Digha/Kolkata: Why were those speaking Bengali "being tortured across the country every day", CM Mamata Banerjee said on Thursday. Speaking in Digha, where she has gone to attend the first Rath Yatra of the newly inaugurated Jagannath temple, the CM spoke of Bengali-speaking migrant workers being detained at two places in Odisha.Asking Odisha "not to be jealous", Banerjee said while she respected the Puri Jagannath temple, she expected the same respect for the Digha Jagannath temple."I learnt that in Cuttack, 100 Bengali migrant workers were kept in detention camps. In Balasore, 17 are stuck. ...Read More >
Chennai/New Delhi, June 27 (UNI) The CBI conducted nation-wide raids at 42 locations in five states and arrested nine people in connection with Mule Bank Accounts being used in Cyber frauds. In continuation of its on-going efforts to combat Cyber Crime and Digital Arrest Scams, the CBI acting on specific information and after verification launched coordinated searches at 42 locations across five States--Rajasthan, Delhi, Haryana, Uttarakhand and Uttar Pradesh--as part of the Operation Chakra-V to deal with the menace of mule bank accounts. The mule bank accounts were being opened by organ ...Read More >
New Delhi [India] September 16 (ANI): The Reserve Bank of India (RBI) has rolled out detailed regulatory guidelines for Payment Aggregators (PAs) and recommended baseline technology standards for Payment Gateways (PGs), to ensure safety, transparency and resilience in the fast-growing digital payments ecosystem. The central bank, in its notification titled "Guidelines on Regulation of Payment Aggregators and Payment Gateways", said that while PAs handle funds and therefore require direct regulation, PGs will be treated as technology providers and are encouraged to adhere to prescribed securit ...Read More >