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New Delhi, July 3 (SocialNews.XYZ) Aadhaar number holders carried out 229.33 crore authentication transactions in June 2025, which is more than the previous month this year as well as the same month of the previous financial year, reflecting the extensive usage and utility of Aadhaar, and the growth of digital economy in the country, according to an official statement issued on Thursday. With this, the cumulative number of such transactions has gone past 15,452 crore since the inception of Aadh ...Read More >
Ahmedabad - Mashreq, one of the MENA region's leading financial institutions, today announced the In-Principle Approval (IPA) to open a new International Financial Services Centre Banking Unit (IBU) within the Gujarat International Finance Tec-City (GIFT City), making it the first UAE-based bank to have received the IPA from the International Financial Services Centres Authority (IFSCA). This marks a key milestone in Mashreq's international expansion strategy and underscores its commitment to e ...Read More >
Mumbai (Maharashtra) [India], July 3 (ANI): In a major relief for borrowers, the Reserve Bank of India (RBI) has announced that banks and other regulated lenders will no longer be allowed to impose pre-payment charges on loans taken by individuals for purposes other than business. The RBI observed that some lenders were using restrictive clauses in loan contracts to discourage borrowers from switching to other lenders offering better interest rates or services. As per the new guidelines releas ...Read More >
Mumbai (Maharashtra) [India], July 3 (ANI): In a major relief for borrowers, the Reserve Bank of India (RBI) has announced that banks and other regulated lenders will no longer be allowed to impose pre-payment charges on loans taken by individuals for purposes other than business. The RBI observed that some lenders were using restrictive clauses in loan contracts to discourage borrowers from switching to other lenders offering better interest rates or services. Also Read | Amarnath Yatra 2025: ...Read More >
The Reserve Bank of India has advised banks to integrate the Financial Fraud Risk Indicator tool developed by the Department of Telecom to curb online fraudulent transactions. This system classifies mobile numbers based on fraud risk using data from various sources. Leading institutions are already using the platform, potentially saving millions from cyber fraud.The Reserve Bank of India has advised all banks to integrate the Financial Fraud Risk Indicator tool developed by the Department of Tel ...Read More >
New Delhi [India], July 2 (ANI): The Department of Telecommunications (DoT) welcomes the Reserve Bank of India's (RBI) advisory, directing all Scheduled Commercial Banks, Small Finance Banks, Payments Banks, and Co-operative Banks to integrate the Financial Fraud Risk Indicator (FRI) developed by DoT into their systems. The Ministry of Communications stated in a release that the advisory marks a watershed moment in the fight against cyber-enabled financial frauds and serves as a testament to th ...Read More >
New Delhi [India], July 2 (ANI): The Department of Telecommunications (DoT) welcomes the Reserve Bank of India's (RBI) advisory, directing all Scheduled Commercial Banks, Small Finance Banks, Payments Banks, and Co-operative Banks to integrate the Financial Fraud Risk Indicator (FRI) developed by DoT into their systems. The Ministry of Communications stated in a release that the advisory marks a watershed moment in the fight against cyber-enabled financial frauds and serves as a testament to th ...Read More >
New Delhi, Jul 2 (PTI) The Reserve Bank of India has advised all banks to integrate the Financial Fraud Risk Indicator tool developed by the Department of Telecom to curb online fraudulent transactions, an official statement said on Wednesday. Banks and financial institutions can use the Financial Fraud Risk Indicator (FRI) in real time, which classifies mobile numbers based on their association with medium, high or very high risk of financial fraud. Also Read | Odisha Shocker: 32-Year-Old Tri ...Read More >
Jaipur: Police in Didwana have stepped up their probe into a cross-border smuggling case in which they arrested two arms and drug smugglers on June 27 for supplying Austrian Glock and Chinese Norinco pistols. It has emerged that the case has links to a massive Rs 300-crore heroin consignment seized by Punjab's Amritsar police near the India-Pakistan border in Barmer on June 30. Canada-based Joben Kaler was identified as the main overseas handler of the heroin consignment. Didwana-Kuchaman police ...Read More >
Mumbai: Bank credit growth to non-banking financial companies (NBFCs) continues to lose steam, even after the Reserve Bank of India (RBI) rolled back tighter risk-weight norms earlier this year to support the sector. Experts said NBFCs are increasingly turning to bond markets for cheaper and quicker funding, while stress in microfinance and unsecured business loans has made banks cautious. Data from the RBI showed that in May 2025, bank credit to NBFCs fell by 0.3% year-on-year (y-o-y) to ₹15.6 ...Read More >
Bhubaneswar: Odisha Chief Minister Mohan Charan Majhi on Tuesday urged private sector lenders ICICI Bank, HDFC Bank, and Axis Bank to significantly improve their loan disbursement performance under key welfare schemes, days after the state government removed them from its empanelled list of banks. Chairing a meeting with senior officials from the three banks at Lok Seva Bhawan on Monday, the Chief Minister underlined the critical role of timely financial assistance in empowering underprivileged ...Read More >
Bhubaneswar: In a move aimed at enhancing financial inclusion, chief minister Mohan Charan Majhi on Tuesday urged representatives from ICICI, HDFC and Axis Banks to increase loan disbursements to economically disadvantaged individuals under various govt welfare schemes. This call to action follows a recent decision by the state govt to remove these banks from the empanelled list for govt departments' deposits due to their poor performance in implementing welfare schemes.During a meeting at Lok S ...Read More >
New Delhi [India], July 1 (ANI): The Appointments Committee of the Cabinet has approved a one-year extension for the leadership of the Financial Services Institutions Bureau (FSIB), extending their tenure until June 30, 2026. The decision affects the current chairperson and six part-time members of the FSIB, whose terms were set to expire on June 30, 2025. The extension will be effective from July 1, 2025, or until further notice, whichever comes earlier. Bhanu Pratap Sharma, former Secretary ...Read More >
New Delhi: Finance minister Nirmala Sitharaman on Monday called for a fundamental rethink of global sovereign credit rating systems, arguing that they often fail to reflect the economic resilience and structural strengths of emerging markets. Speaking at the International Business Forum, the 4th International Conference on Financing for Development in Spain, Sitharaman pointed to India's strong macroeconomic fundamentals, including sustained high growth and prudent fiscal management, as evidenc ...Read More >
New Delhi: The Aircraft Accident Investigation Bureau (AAIB) is probing from all angles, including sabotage, in the Air India plane crash in Ahmedabad that killed 274 people on board and on the ground last month, Minister of State (MoS) For Civil Aviation Murlidhar Mohol said. Mohol said the black box of the Air India flight AI 171 that has been recovered is in AAIB's custody and will not be outside the country for a thorough assessment. The MoS was speaking at the Pune chapter of the Emerging ...Read More >
SRINAGAR, June 29: The J&K Bank has appointed Ketan Kumar Joshi as its new Chief Financial Officer (CFO) for a term of three years, replacing Fayaz Ahmad Ganai. As per a statement, Joshi's appointment has been notified to the stock exchanges in line with SEBI regulations. Joshi is a seasoned banking and finance professional with over 20 years of experience in Indian and international financial institutions. Before joining J&K Bank, he served as CFO at North East Small Finance Bank Ltd. from 2 ...Read More >
Bengaluru: Mysuru Dasara is set to run for 11 days this year -- a rare extension driven by celestial alignment and cultural planning -- with the inaugural ceremony on Sept 22 and the grand Jamboo Savari taking place on Oct 2, coinciding with Vijayadashami and Gandhi Jayanti.Chairing a high-level meeting at Vidhana Soudha Friday, chief minister Siddaramaiah said, "Mysuru Dasara in 2025 will be celebrated for 11 days, due to a unique astronomical occurrence -- the Panchami tithi (fifth lunar day) ...Read More >
Lucknow: Based on its on-ground experience of interaction with UP's diaspora in Maharashtra, Uttar Pradesh Development Forum -- a not-for-profit social organisation working to integrate UP diaspora for development of the state -- has urged the Uttar Pradesh govt to establish a dedicated MSME National Stock Exchange in Uttar Pradesh. In a letter to UP MSME minister Rakesh Sachan, UPDF president Pankaj Jaiswal wrote: "While existing stock exchanges such as BSE and NSE offer an SME platform for IPO ...Read More >
New Delhi, June 28: The government is laying the foundation for a next-generation export ecosystem -- one that is digital-first, logistics-enabled and MSME-inclusive, Moin Afaque, Joint Director General of Foreign Trade (DGFT), said on Saturday. Addressing the India SME Forum's 'MSME Day Conclave 2025' here on creating a robust ecosystem for MSME e-commerce exports, he said that upcoming e-commerce export hubs are inspired by global best practices and will function as single-window zones for log ...Read More >
New Delhi, June 28 (SocialNews.XYZ) The government is laying the foundation for a next-generation export ecosystem -- one that is digital-first, logistics-enabled and MSME-inclusive, Moin Afaque, Joint Director General of Foreign Trade (DGFT), said on Saturday. Addressing the India SME Forum's 'MSME Day Conclave 2025' here on creating a robust ecosystem for MSME e-commerce exports, he said that upcoming e-commerce export hubs are inspired by global best practices and will function as single-win ...Read More >
India Ratings and Research (Ind-Ra) expects credit growth to improve marginally in FY26 to 13-13.5 per cent, up from FY25 levels. However, the composition of loans is likely to shift, with a continued slowdown in lending to non-banking financial companies (NBFCs) and the retail segment. This decline is expected to be offset by a revival in private capital expenditure (capex), which would support growth in the corporate segment, the rating agency said. "A sustained improvement in system liquidit ...Read More >
Gandhinagar (Gujarat) [India], June 7 (ANI): Gujarat Chief Minister Bhupendra Patel, while inaugurating the new Development Center of Infosys at GIFT City, reaffirmed the State Government's commitment to advancing the AI industry by implementing artificial intelligence-based systems across the state. He stated that the establishment of an AI Centre of Excellence at GIFT City is aimed at creating a unified platform that brings together solution developers, experts, professionals, and startups un ...Read More >
New Delhi: The Rouse Avenue district court acquitted three officials, including former Coal Secretary HC Gupta, in Jharkhand's Mahua Garhi coal block allocation case. Special Judge Sanjay Bansal ordered the acquittal while convicting Jas Infrastructure Capital Private Limited (JICPL) and its then-director Manoj Kumar Jaiswal. The acquitted officials include KS Krofa and KC Samaria of the Coal Department. "This is the 19th conviction in coal block allocation cases investigated by the Central Bur ...Read More >
1.6 crore+ youth trained under PMKVY (Pradhan Mantri Kaushal Vikas Yojana) and 17.6 lakh+ direct jobs created from 1.6 lakh startups. Image: Pexels India now has 1.76 lakh registered startups, 118 unicorns: FM Sitharaman The number of registered startups has reached 1.76 lakh in the last 11 years, with 118 unicorns (startups with $1 billion valuation and above), thus fueling youth entrepreneurship, Finance Minister Nirmala Sitharaman said on Friday. In a post on social media platform X, the F ...Read More >
New Delhi [India], June 6 (ANI): Aadhaar number holders carried out over 211 crores authentication transactions, pushing the total number of such transactions since Aadhaar's inception to more than 15,223 crores (152.23 billion), according to a release by the Ministry of Electronics & IT. The ministry reported that the transaction in May 2025 saw more transactions, as compared to the same month last year, when 201.76 Cr such transactions were carried out. This growth in number is a reflection ...Read More >
MUMBAI, June 6 (Reuters) - India's central bank will release final regulations for gold lending by Monday, with more relaxed norms for small-ticket lending, governor Sanjay Malhotra said on Friday. In April, the Reserve Bank of India had proposed stricter rules for monitoring and disbursement of gold loans, which are often used by low-income borrowers. The RBI had sought comments on the proposed rules by the middle of May. Last week, the federal finance ministry sought relaxations to the propo ...Read More >
MUMBAI (Reuters) -India's central bank will release final regulations for gold lending by Monday, with more relaxed norms for small-ticket lending, governor Sanjay Malhotra said on Friday. In April, the Reserve Bank of India had proposed stricter rules for monitoring and disbursement of gold loans, which are often used by low-income borrowers. The RBI had sought comments on the proposed rules by the middle of May. Last week, the federal finance ministry sought relaxations to the proposed rules ...Read More >
Principal Secretary to the Prime Minister, Dr. P. K. Mishra, addressed the Ministerial Roundtable on Disaster Risk Reduction (DRR) Financing at Geneva on 04th June 2025. He commended the UNDRR and its partners for convening this critical discussion. India also recognized the contributions of Brazil and South Africa in continuing the global dialogue through their G20 presidencies. Dr. Mishra underscored that DRR financing is not a peripheral issue but central to the effective functioning of nati ...Read More >
New Delhi, Jun 5 (PTI) State-owned IREDA on Thursday said its board has fixed the floor price for qualified institutional placement (QIP) at Rs 173.83 per equity share to raise about Rs 5,000 crore. The development comes after the Indian Renewable Energy Development Agency Ltd (IREDA) board in January this year approved a QIP to raise up to Rs 5,000 crore. Subsequently, the proposal was cleared by the company's shareholders in February. Also Read | Who Is Pinaki Misra? From Age to Family Backg ...Read More >
New Delhi, Jun 5 (PTI) State-owned IREDA on Thursday said its board has fixed the floor price for qualified institutional placement (QIP) at Rs 173.83 per equity share to raise about Rs 5,000 crore. The development comes after the Indian Renewable Energy Development Agency Ltd (IREDA) board in January this year approved a QIP to raise up to Rs 5,000 crore. Subsequently, the proposal was cleared by the company's shareholders in February. "Pursuant to the approval of the Board of Directors at it ...Read More >
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