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…
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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, …
Amaravati, Jan 23 (IANS) Andhra Pradesh Chief Minister N. Chandrababu Naidu on Friday asked banks to provide loans extensively to the renewable energy sector, saying the Central and state governments are giving top priority to the sector.Stating that power distribution companies (DISCOMs) are also providing counter-guarantees, he urged bankers to take the initiative in providing loans to the renewable energy sector.Presiding over the 233rd and 234th meetings of the State Level Bankers’ Committ…
New Delhi, Jan 22 (IANS) Assets under management (AUM) of non-banking financial companies (NBFCs) specialising in gold loans is set to register a compound annual growth rate (CAGR) of 40 per cent between this fiscal and next, surpassing Rs 4 lakh crore by March 2027, a Crisil Ratings report showed on Thursday.According to the report, the surge will be driven by elevated gold prices, a shift towards secured credit and an evolved regulatory environment, outpacing the CAGR of 27 per cent clocked be…
Mumbai, Jan 14 (IANS) The Reserve Bank of India (RBI) on Wednesday issued guidelines for the appointment and functioning of internal ombudsmen in banks and NBFCs, aimed at strengthening the mechanism for resolution of customer grievances.The RBI has issued separate directions for commercial banks, small finance banks, payments banks, non-banking financial companies, non-bank prepaid payment instrument issuers, and credit information companies to ensure specific clarity to each category.The direc…
Mumbai, Jan 12 (IANS) Indian stock exchanges will remain closed for trading on January 15 due to the municipal corporation elections in Maharashtra, according to announcements by both the BSE and NSE on Monday.The BSE said in a circular that there will be no trading in the equity segment, equity derivatives, commodity derivatives, and electronic gold receipts on that day.It also clarified that equity derivative contracts originally scheduled to expire on January 15, 2026, will now expire a day e…
New Delhi, Jan 7 (IANS) India’s top domestic institutional investors reported a 12 per cent to 20 per cent surge in assets across multiple segments during 2025, underscoring continued local support for equity and debt markets even as foreign investor assets growth softened.Mutual funds led the expansion, with equity assets up 20.6 per cent to Rs 52.25 lakh crore from Rs 43.34 lakh crore a year earlier, and their combined equity and debt assets climbed 23.34 per cent to Rs 73.21 lakh crore from…
Mumbai, Dec 24 (IANS) The Reserve Bank of India (RBI) announced on Wednesday that it has postponed the implementation of Phase 2 of the faster cheque clearance framework by banks, which was scheduled to begin from January 3, 2026. “Implementation of phase 2 is being postponed until further notice, to allow more time to banks to streamline their processes,” according to the RBI statement.Phase 1 of the system, which was implemented earlier this year, will continue to operate as usual.The RBI …
New Delhi, Dec 24 (IANS) With better earnings growth in FY27 and a potential trade deal with the US, a return of foreign institutional investors (FIIs) into India is expected in 2026, a report said on Wednesday.”Overall, we remain constructive on the equity markets for 2026. Nifty valuations at 20.5x 1-year forward Price-Earnings ratio (PE) are in-line with its 5-year average and at a modest premium to 10-year average”, according to the report from HSBC Mutual Fund.The fund house said it is over…