The Reserve Bank of India (RBI) has introduced significant updates to the Priority Sector Lending (PSL) Guidelines that come into effect from FY 2024-25. These revisions aim to improve credit flow to underserved sectors and regions, while simplifying compliance for...

The Indian government is set to launch CYKYC 2.0, an upgraded version of the centralized Know Your Customer (KYC) system, CKYC, in response to security concerns flagged by the Reserve Bank of India (RBI). The new system, called the Central KYC Records Registry 2.0...

In the quest to provide shelter, a fundamental human need, the government introduced the Credit Linked Subsidy Scheme (CLSS) under the Pradhan Mantri Awas Yojana (PMAY) in 2015. This initiative aimed to assist the urban poor in owning their homes by providing them...

The Tale of Finley and Trad In the bustling city of Banktown, two friends, Finley and Trad, found themselves at odds over how to manage their finances. Finley, a tech enthusiast, loved everything digital, while Trad, a stickler for tradition, valued the security and...

It was a typical Friday evening, and Priya, a young professional, scrolled through her favourite online store. A sleek smartwatch caught her eye—the perfect gadget to complement her fast-paced lifestyle. She added it to her cart, only to pause at the checkout page....

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...