Washington, April 16 (IANS) The Trump administration has intensified its economic campaign against Iran, warning of tougher sanctions, including secondary penalties on countries and banks dealing with Iranian oil, as part of what officials described as a broader strategy combining financial and geopolitical pressure. US Treasury Secretary Scott Bessent said Washington was escalating its financial offensive against Iran under what he described as “Operation Economic Fury.”“For over a year, …
Latest Financial Institutions News & Updates
New Delhi, April 15 (IANS) Union Minister for Housing and Urban Affairs, Manohar Lal, on Wednesday launched the operational guidelines for the Urban Challenge Fund (UCF) along with the Credit Repayment Guarantee Sub-Scheme (CRGSS), saying the Rs 1 lakh crore fund is designed to mobilise nearly four times investment through market-based financing.Addressing the launch event, the minister said the UCF represents a paradigm shift in India’s approach to urban development, focusing on leveraging pu…
New Delhi, April 14 (IANS) The Central Bureau of Investigation (CBI) registered 22 new cases based on the Supreme Court directions against various builders over their alleged nexus with officials of financial institutions and defrauding of homebuyers, an official said on Tuesday. The CBI conducted extensive searches at 77 locations spread across eight states/Union Territories in connection with these 22 cases, an official statement said.The searches were targeted at an alleged nexus between cert…
New Delhi, March 29 (IANS) From April 1, 2026, making digital payments in India is set to become more secure, but slightly more time-consuming, as the Reserve Bank of India (RBI) rolls out new rules for online transactions.The central bank has made two-factor authentication (2FA) mandatory for all digital payments, including those made through UPI, debit and credit cards, and mobile wallets.This means that OTP alone will no longer be sufficient to complete a transaction. Users will now have to g…
New Delhi, March 23 (IANS) The Supreme Court on Monday stressed the need for a coordinated, fair, and time-bound investigation into alleged large-scale bank frauds linked to Anil Ambani’s Reliance Communications (RCom) and its group entities. A bench, headed by Chief Justice of India (CJI) Surya Kant, observed that investigating agencies such as the Enforcement Directorate (ED) and the Central Bureau of Investigation (CBI) must “join hands” and work in coordination to unearth the truth in a tr…
New Delhi, March 11 (IANS) India undertook an “ambitious financial‑technology transformation in modern history,” to become “one of the world’s most advanced digital payment ecosystems” creating a model for developing economies, a report has said.India’s model shows how “government policy, technological innovation and widespread mobile connectivity can combine to create efficient payment infrastructure,” the report from Azerbaijan-based News.az said.India’s digital payment revolution has …
New Delhi, Feb 27 (IANS) Prime Minister Narendra Modi on Friday said that this year’s Union Budget lays the road map for a ‘Viksit Bharat’ — driven by technology, reforms and finance — and all the stakeholders need to collectively ensure that reforms reach the grassroots level.Addressing a post-Budget webinar, PM Modi urged the stakeholders to transform reforms into solid results, suggesting to create a charter involving the government, industry, financial institutions and academia to achi…
New Delhi, Feb 20 (IANS) Under the Delhi Startup Yuva Festival 2026, Delhi Minister for Training and Technical Education Ashish Sood on Friday interacted with 100 student startups at a programme hosted at Indira Gandhi Delhi Technical University for Women. Sood announced that the Delhi government will soon introduce a comprehensive “Startup Incubation Policy.”Under this policy, Rs325 crore will be allocated over the next five years to provide end-to-end support to 5,000 startups from campus …
Seoul, Feb 20 (IANS) South Korea’s household credit growth slowed in the fourth quarter of 2025 amid tighter lending regulations, though the total outstanding amount reached an all-time high, central bank data showed on Friday.Outstanding household credit stood at 1,978.8 trillion won (US$1.36 trillion) as of end-December, up 14 trillion won from three months earlier, according to the preliminary data from the Bank of Korea (BOK), reports Yonhap news agency.The reading marks the highest since th…
New Delhi, Feb 12 (IANS) India’s inflation rate based on the Consumer Price Index (CPI), with the new base year 2024, for the month of January this year is estimated at 2.75 per cent compared to the same month of the previous year, according to official data released by the Ministry of Statistics on Thursday.The food inflation came in at 2.13 per cent during the month. Prices of vegetables such as potatoes, onions and garlic declined during January along with the prices of pulses such as arhar…