#RBI

NPCI says no extra burden on customers after introducing interchange fee on select UPI transactions, here is what you need to know

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Days after the National Payments Corporation of India recommended an interchange fee up to 1.1% on UPI transactions of over Rs 2,000 made through Prepaid Payment Instruments (PPIs), there was confusion over it applicability. There were claims on social media saying that every transaction over Rs 2,000 made via Unified Payments Interface (UPI) will attract a fee … Read more

‘This India is different from what it was in 2013’: Morgan Stanley lists 10 big changes in India in the last 10 years

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In a short span of 10 years, India has gained positions in the world order with significant positive consequences for the macro and market outlook, Morgan Stanley Research has said in a report. The report, India Equity Strategy and Economics: How India Has Transformed in Less than a Decade, highlights the 10 big changes, mostly … Read more

World Bank gives nod to $1.5 Billion financing for India’s low-carbon transition

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On the 29th of June, the Board of Executive Directors of the World Bank approved $1.5 billion in financing to India. Its aim is to accelerate India’s development of low-carbon energy. It will help India promote low-carbon energy in three separate ways.  First, with more finance at its disposal, India will scale up and accelerate the pace … Read more

Banks in 22 countries including Russia, UK, Germany, Israel open special Vostro accounts in Indian banks to trade in Indian Rupee

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Banks from 22 countries have opened special Rupee vostro accounts in Indian banks in order to trade in local currency as part of gradual de-dollarisation plans, the Parliament was informed on Friday. Simply put, vostro accounts enable domestic banks to provide international banking services to clients who have global banking needs. In a written reply … Read more

Banks recovered more than Rs 10 lakh crores from bad loans in the last nine years: Finance Ministry tells Lok Sabha

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In a major success for the Narendra Modi government, during the last nine fiscal years, scheduled commercial banks have recovered approximately Rs 10 lakh crore, as per the government’s information to the Lok Sabha. In a written response to a question in the Lok Sabha on Monday (July 24), Minister of State for Finance Bhagwat … Read more

JP Morgan includes India in its global bond index, ‘FAR’ programme of the Modi govt facilitated the inclusion

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On Friday (September 22), American bank JPMorgan announced that it would include India in its Government Bond Index-Emerging Markets (GBI-EM) index. As per reports, 23 Indian Government Bonds (IGBs), which have a combined value of $330 billion, are eligible to be included in the emerging market debt index. The country’s local bonds will be included in JP … Read more

Agniveer Scheme: Let us look at it differently and objectively

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Every nation needs to defend itself from external aggression. It is also true that every nation has different priorities, different challenges and different level of affordability for defense. You cannot expect Maldives or Sri Lanka to have an Aircraft carrieer- it may be on their wish list though. The United States has a total of … Read more

World Bank gives nod to $1.5 Billion financing for India’s low-carbon transition

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On the 29th of June, the Board of Executive Directors of the World Bank approved $1.5 billion in financing to India. Its aim is to accelerate India’s development of low-carbon energy. It will help India promote low-carbon energy in three separate ways.  First, with more finance at its disposal, India will scale up and accelerate the pace … Read more

Financial influencer Ravindra Bharti, who promised up to 1000% returns, ordered to pay Rs 12 crore by SEBI, banned from securities market

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A financial influencer (finfluencer) who was also involved in imparting training related to stock market trading has been asked to part with a little over Rs 12 crore, which it made unlawfully. The person, Ravindra Balu Bharti, is directed to credit/deposit the money to an interest bearing Escrow Account created specifically for the purpose in … Read more

GST : Ashneer Grover, co-founder of BharatPe urges govt to withdraw them saying ‘Na koi tax dega, na sarkar ko milega’

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Ashneer Grover, co-founder of BharatPe, said on Tuesday, September 26, that an alleged Rs 55,000-crore Goods and Services Tax (GST) demand from online gambling companies will not help India attain its goal of being a $5-trillion economy. Grover is the founder of the fantasy game app Crickpe. Grover stated on the X platform (previously Twitter) that “na … Read more