Deep in the heart of the banking system lies a network of silent custodians: currency chests. These heavily fortified facilities store and manage the lifeblood of the Indian economy—physical currency notes. Their role is pivotal in ensuring that cash flows smoothly...

Imagine a small town in India, where a hardworking farmer needs to send money to his daughter studying in a city far away. He walks to the local agent, hands over his cash, and in minutes, his daughter receives the funds through a simple mobile message. It’s quick,...

In today’s rapidly evolving financial ecosystem, traditional banks and financial institutions aren’t the only sources of funding anymore. Enter Peer-to-Peer (P2P) Lending, a revolutionary financial model that has transformed how individuals and businesses access...

The NPCI is set to implement new interchange fees for UPI transactions using pre-authorized credit lines on October 16, 2024, focusing on sustainable revenue for financial institutions. The Merchant Discount Rate (MDR) will apply only to transactions over ₹2,000,...

The banking sector has experienced a 6.2% rise in deposits, primarily due to time deposits and a 43.3% year-on-year increase in Certificates of Deposit (CDs). With a Credit-Deposit (CD) ratio of 79.1%, banks are shifting from government investments to lending, despite...

Open banking is revolutionizing the financial sector by allowing banks and financial institutions to share customers’ financial data with authorized third parties. This shift from traditional banking practices unlocks innovative financial services and products, such...

The Budget 2023 revised tax structures increased standard deductions, and simplified capital gains tax, while boosting MSME support, infrastructure, and employment, and abolishing angel tax to aid startups. North Korean hackers from the Lazarus Group stole $230...

RBI's measures protect borrowers from high floating rates, enabling them to switch to fixed rates, adjust EMIs, extend tenures, or prepay without penalties. Banks and NBFCs must transparently communicate rate changes, disclose fees, and provide clear, quarterly loan...

This month, RBI improves the governance of Asset Reconstruction Companies (ARC’s) by strong compliance of rules for increasing participation and investment in distressed asset resolution. RBI requires banks to increase its provisions for project finance from 1-2% to...

This month, RBI banned Kotak Mahindra Bank from adding any new customers due to non compliance. This ban will continue until they fix the issue. SFBs can now covert to Universal Banks if they meet the criterion set by RBI. So far, only AU Small Finance Bank meets the...