financial sector

Mumbai, April 10 The Reserve Bank proposed changes in the criteria for identifying upper layer non-banking financial companies (NBFCs) on Friday, advocating for an asset-based approach instead of the previous parametric system and including state-run entities.According to the draft 'Reserve...

Mumbai, April 8 Global digital infrastructure company, Equinix, announced on Wednesday the opening of its fourth data center in the financial capital, built with an initial investment of USD 95 million.The data center provides more than 1,370 cabinets of capacity, according to a statement.*...

Mumbai, April 8 Reserve Bank Governor Sanjay Malhotra announced on Wednesday that the monetary authority will be introducing a new framework for non-bank lenders in the wake of uncertainty surrounding Tata Sons' listing issue."We are coming up with a new framework for NBFCs. We should be doing...

Mumbai, April 7 Veteran of the finance industry, Uday Kotak, cautioned on Tuesday that the conflict in West Asia, triggered by the US-Israel attack on Iran's port, portends a return of colonialism.Kotak, a non-independent director and founder of the private sector lender, Kotak Mahindra Bank...

Mumbai, April 7 Private sector banks reported stronger deposit growth in the January-March quarter compared with their public sector counterparts, even as the broader banking system continued to face persistent challenges in mobilizing deposits.Data compiled by

New Delhi, Apr 5 The IT employees' body, NITES, has urged tech firms to prioritize reskilling over layoffs, while calling for policy intervention to strengthen safeguards and ensure mandatory severance terms for white-collar workers, given that aggressive AI development by the industry is...

Mumbai, April 2 The All India Bank Employees' Association has written to Finance Minister Nirmala Sitharaman, seeking an inquiry into the affairs at HDFC Bank following the surprise resignation of its non-executive chairman Atanu Chakraborty last month.The AIBEA said there is a need for HDFC...

Bhubaneswar, March 31 – The Odisha Legislative Assembly passed the Appropriation Bill for the 2026–27 financial year on Tuesday, even as opposition MLAs staged a walkout.With its passage, the government obtained the legal authority to withdraw and spend the budgetary allocation of ₹3.10 lakh...

New Delhi, March 30 – The government on Monday maintained the same interest rates for various small savings schemes, including the Public Provident Fund (PPF) and National Savings Certificate (NSC), for the first quarter of the 2026-27 financial year, starting April 1."The interest rates on...

New Delhi, March 24 HDFC Bank has appointed external law firms to independently examine the issues highlighted in the resignation letter by Atanu Chakraborty as a proactive step to ensure an objective and fact-based assessment.The bank's spokesperson said that appointing external law firms is...

New Delhi, March 21 The Ministry of Finance said on Saturday that the Mutual Credit Guarantee Scheme for MSMEs (MCGS-MSME) has been modified to support manufacturers and exporters, allowing a 5 per cent upfront contribution in installments after the fourth year.According to the revised scheme...

March 17, New Delhi: The Indian Parliament continued its Budget session on Tuesday. In the Lok Sabha, members discussed the demands for grants under the control of the Ministry of Railways for 2026-27. The debate focused on fund allocation for railway projects, modernization, and passenger...

New Delhi, March 17 – Finance Minister Nirmala Sitharaman has reiterated the transformative role of the Pradhan Mantri Mudra Yojana (PMMY) in supporting small-scale entrepreneurs across India by providing collateral-free credit, enabling millions to turn their business ideas into reality without...

Mumbai, March 16 The Reserve Bank on Monday imposed a penalty of Rs 3.1 lakh on the payment aggregator Cashfree Payments India Private Ltd for non-compliance with its directions.The RBI found that Cashfree made certain "unauthorized deductions" from an escrow account, according to an official...

New Delhi, March 13 DCM Shriram Ltd announced on Friday that it will receive $90 million from the International Finance Corporation, the private sector arm of the World Bank Group, through sustainability-linked non-convertible debentures.The proceeds will fund the expansion of DCM Shriram's...

Mumbai, March 5 – Maharashtra's economy is projected to grow by 7.9 per cent in 2025-26, slightly higher than the projected 7.4 per cent growth of the national economy, according to the government's pre-budget Economic Survey presented in the state assembly on Thursday.The survey stated that...

Mumbai, March 2 The profitability of non-banking financial companies (NBFCs) focused on gold loans is expected to remain healthy at 4.25-4.5 per cent in FY26 and FY27, driven by strong loan growth, improved operating leverage, and low credit costs, according to a Crisil Ratings report.The...

Prime Minister Narendra Modi will address the Post-Budget webinar on "Technology, Reforms, and Finance for Viksit Bharat" this morning via video conferencing. The webinar will cover topics such as public capital expenditure, infrastructure, banking sector reforms, the structure of the financial...

New Delhi, February 26 Infrastructure Investment Trusts (InvITs) listed on the stock exchange have collectively distributed a return of ₹5,565 crore to approximately 4 lakh unitholders during the third quarter of fiscal year 2026, marking another quarter of steady growth.The sector, comprising...

Mumbai, February 24 A high-level delegation led by Luxembourg Finance Minister Gilles Roth met with Securities and Exchange Board of India (SEBI) Chairman Tuhin Kanta Pandey and discussed issues of mutual interest and cooperation.The delegation met with Pandey and other senior officials, SEBI...