Gandhinagar, March 28 (IANS) Positioning India as a competitive global financial hub, Gujarat’s GIFT City has recorded rapid growth in financial activity and international participation, prompting Chief Minister Bhupendra Patel to describe it as a “vibrant reality driving economic growth”. The Chief Minister said the project, envisioned by Prime Minister Narendra Modi during his tenure in Gujarat, has moved beyond its initial concept to become a fully operational international financial hub….
Latest Banks News & Updates
New Delhi, March 17 (IANS) Aam Aadmi Party (AAP) Rajya Sabha MP Raghav Chadha, on Tuesday, raised the issue of minimum account balance penalties in the Upper house of Parliament, urging the Union government to end such charges on small bank accounts, saying that they disproportionately affect the poor and financially vulnerable.Speaking in the Rajya Sabha, Chadha said banks have collected nearly Rs 19,000 crore in penalties over the last three years from customers, who failed to maintain the req…
New Delhi, March 11 (IANS) Over 7.72 crore Kisan Credit Cards (KCC) are active nationwide with outstanding loans of around Rs. 10.2 lakh crore, an official factsheet said on Wednesday.The KCC platform has onboarded 457 banks after processing over 1,998.7 lakh credit applications, with 631.5 lakh processed through commercial banks, 337.2 lakh through regional rural banks and 1,030 lakh through cooperative banks, according to the statement.The data reflects the broad institutional participation in…
Mumbai, Feb 26 (IANS) Foreign institutional investors (FIIs) logged their highest inflow in 17 months in the month of February, recording net inflows of about $2.44 billion, as per exchange data on Thursday.FIIs bought nearly $2.14 billion in secondary markets and $299 million in primary markets in February, posting the largest monthly net purchase since September 2024.Primary market buying by FIIs has been steady since October 2023 but between January 2024 and December 2025, cumulative secondar…
New Delhi, Feb 25 (IANS) Early signs of revival are emerging in Indian markets, with the Nifty projected to reach 27,958 over the next 12 months under a base case scenario, a report said on Wednesday.The report from PL Capital said that a bullish scenario of a 20x forward earnings multiple implies upside toward 30,497, while a conservative bear case suggests 26,486 target for Nifty.The firm said that EPS growth is expected at 3.8 per cent, and medium‑term earnings trajectory remains strong wit…
Agartala, Feb 19 (IANS) Union Home Minister Amit Shah will inaugurate the Joint Regional Official Language Conference (Rajbhasha Sammelan) of the Eastern, North-Eastern and Northern regions of the country in Agartala on Friday, officials said here on Thursday. The Ministry of Home Affairs’ (MHA) Department of Official Language Secretary, Anshuli Arya, said that more than 3,000 senior officials, representatives and experts from Central government offices, public sector undertakings and banks from…
New Delhi, Feb 16 (IANS) UPI has emerged as the most preferred mode of payment, accounting for 57 per cent of total payment transactions in India, surpassing cash transactions at 38 per cent, primarily due to ease of use and instant fund transfer capability, according to an independent study commissioned by the Finance Ministry.Digital payments now dominate everyday transaction behaviour, with 65 per cent of UPI users reporting multiple digital transactions per day. Preference for UPI is particu…
Mumbai, Feb 12 (IANS) The Reserve Bank of India (RBI) has proposed a ban on incentives paid by third parties to bank staff for selling insurance, mutual funds and other products to curb the mis‑selling of financial products.Further, the central bank prohibited “dark patterns” on commercial banks’ user interfaces to lure customers into purchases.Dark pattern means “any practice or deceptive design pattern that is designed to trick users to do something they originally did not intend, by sub…
Hyderabad, Feb 6 (IANS) Hyderabad Police Commissioner V.C. Sajjanar has voiced concern over the threat posed by ‘Agentic AI’ and called for appropriate security measures, trust framework and governance to tackle it.The Police Commissioner, through a social media post on Friday, highlighted how autonomous, multi-agentic Artificial Intelligence (AI) systems act independently across critical sectors. According to him, the risks arise from both malicious exploitation and unintended autonomous be…
Mumbai, Feb 6 (IANS) RBI Governor Sanjay Malhotra announced on Friday that the RBI is drawing up fresh rules on compensation for customers of banks in case of small-value fraudulent transactions.The extant instructions on limiting the liability of customers in unauthorised electronic banking transactions were issued in 2017, which deal with scenarios and timelines for zero or limited liability of a customer. In view of the rapid adoption of technology in the banking sector and payments systems, …