"We have issued the required advisories. We remain fully prepared...
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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...
Sanjay Lohiya assumes charge as Secretary, Department of Financial Services
Sanjay Lohiya, Secretary, Department of Financial Services Lohiya...
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...
SBI must pay Rs 5 lakh to woman despite 6-yr delay in claim: Nagpur consumer panel
The bank was also ordered to pay Rs 10,000 for mental agony and litigation costs.As per the complainant, her husband had an account with the bank's Tri Junction Cantonment area in Nagpur. She stated that insurance protection up to Rs 5 lakh was being provided to the...
Financial systems must remain connected to real economy: PM’s principal Secy cautions against speculation
PK Mishra,Principal Secretary to Prime Minister Addressing the 20th convocation of the National Institute of Bank Management (NIBM) in Pune, Mishra said,"In India, this convergence of finance and technology has enabled the creation of one of the world's most ambitious...
PMJJBY,PMSBY settle claims worth Rs25,160 cr since their launch in 2015
Nirmala Sitharaman,Finance Minister Citing data on the 11th anniversaries of the Jan Suraksha Schemes, Finance Minister Nirmala Sitharaman said that over 27 crore, 58 crore and 9 crore enrolments have been done under PMJJBY, PMSBY and APY, respectively. New...
Pradhan Mantri Suraksha Bima Yojana̤:Expanding financial safety net nationwide
New India Assurance(NIA) has established tie-ups with 316 banks,actively servicing around 8 crore account holders under the scheme in the financial year 2025-26 alone. This massive outreach has resulted in a total underwritten premium of approximately Rs.158 crores...
Pradhan Mantri Jeevan Jyoti Bima Yojana:Driving India’s financial inclusion push
R. Doraiswamy, CEO and MD, Life Insurance Corporation Many families remain unaware of Pradhan Mantri Jeevan Jyoti Bima Yojana or that premiums were paid for deceased members, with no physical policy document issued.In the absence of a nominee, families must undergo...
Banks must prepare for cyber threats posed by AI models like Mythos: Nagaraju
Referring to cyber security concerns, he said Anthropic Mythos AI model has advanced capabilities to identify and potentially exploit systems, and added that it has raised alarm bells among regulators because of the vulnerabilities in legacy banking technology...