News Bulletin

RBI Proposes Stricter Lending Rules for NBFCs

The Reserve Bank of India (RBI) is planning new regulations for Non-Banking Financial Companies (NBFCs) to improve financial stability. These changes will impact how NBFCs raise and manage funds, potentially limiting their riskier lending practices

India's Fintech Sector Set to Boom by 2030

A recent report predicts that India could have 150 fintech unicorns worth $500 billion by 2030, thanks to rapid growth in digital payments, lending, and wealth management services. This reflects a significant expansion from the current $20 billion fintech revenue​

Karnataka Suspends Decision to Close State Bank Accounts

The Karnataka government has temporarily halted its decision to close all public sector accounts at State Bank of India (SBI) and Punjab National Bank (PNB). The move was paused following internal discussions to review the impact on state finances

Mastercard Launches Payment Passkey Pilot in India

Mastercard has introduced a new "Payment Passkey Service" pilot in India, aimed at enhancing digital payment security. The service is expected to streamline online transactions by reducing reliance on passwords, ensuring faster and safer payments​

Banks Turn to Certificates of Deposit Amid Slow Deposit Growth

Indian banks are increasingly issuing Certificates of Deposit (CDs) to boost liquidity, as sluggish deposit growth continues to challenge the banking sector. This strategy helps banks manage their cash flows more efficiently in a tight market​