The lawsuit is one of several accusing Epstein’s banks of ignoring...
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HDFC Bank faces class-action lawsuit in US
The lawsuit alleges that HDFC promised Maharashtra State Road...
India’s Financial Inclusion Index rises from 53.9 in 2018 to 67 in 2026
The Pradhan Mantri Jan Dhan Yojana (PM-JDY) accounts have grown...
DFS moves to improve complaint resolution, Enhances trust in banks and insurers
The Insurance Division of DFS secured second position in the Group A category of the Grievance Redressal Assessment and Index (GRAI) for May 2026. The Banking Division ranked sixth in the same category. New Delhi: The Department of Financial Services (DFS) is...
RBI proposes guidelines for banks to manage AI risks
Banks should establish human oversight for AI models used in automated decision-making, the draft guidelines said.For generative AI models that interface with customers or external users, additional cybersecurity controls should be implemented. MUMBAI: India's...
RBI issues stricter norms to curb mis-selling of financial products
The regulator also laid out a broad definition of mis-selling, which includes practices such as offering products that are unsuitable for the customer, providing misleading or inaccurate information, selling products without obtaining explicit consent from the...
RBI says fully prepared for ‘Mythos’ cyber threat; advisories issued to regulated entities
"We have issued the required advisories. We remain fully prepared in terms of handling cyber security threats of this nature as well as conventional threats," RBI Deputy Governor Swaminathan J said Mumbai:The Reserve Bank of India (RBI) on Friday said it is fully...
RBI keeps repo rate unchanged at 5.25%,lowers GDP forecast to 6.6 %, raises inflation to 5.1% for FY27
Sanjay Malhotra, Governor,Reserve Bank of India "The central bank's rate panel noted that the global environment has deteriorated," RBI Governor Sanjay Malhotra said. The central bank's rate panel felt it was "prudent" to wait until greater clarity emerges, he...
Sanjay Lohiya assumes charge as Secretary, Department of Financial Services
Sanjay Lohiya, Secretary, Department of Financial Services Lohiya takes charge at a time when the financial sector is undergoing transformation with a focus on digital financial inclusion, recapitalisation and operational autonomy of public sector banks, and deeper...
Sitharaman reviews growth of GIFT City as global financial hub
From Lto R-PK Mishra,Principal Secretary to the Prime Minister;Nirmala Sitharaman,Union Finance Minister, Harsh Sanghavi, Deputy Chief Minister of Gujarat, at a meeting at GIFT City GIFT City today hosts more than 1,150 entities operating across financial services,...
APY records 1.35 crore new subscribers in FY 2025-26; AUM exceeds ₹54,000 crore
S. Ramann, chairperson, PFRDA, highlighted the significant rise in enrolments among the 18–25 age group, reflecting increasing awareness among youth regarding long-term financial security, and emphasised the need to further strengthen subscriber engagement and pension...
Bank CEOs’ AI push faces rising regulatory scrutiny
The European Banking Authority, which also sets rules for US and Asian banks operating in Europe, wants to ensure that national supervisors across the bloc have playbooks “to mitigate risks” that AI poses to the finance sector, Merkeviciute said. The more complex the...
RBI proposes allowing lenders to curb usage of phones bought on loans in case of default
RBI's plans to allow lenders to lock smartphones as a tool to recover loans, and that the move may raise consumer rights and privacy concerns. Mumbai:India's central bank on Wednesday proposed allowing lenders to remotely restrict or disable functions of a mobile...