Banking

SBI Helps Add $44 Billion to World Economy

A new report from SBI Research shows that India added $297 billion to the world economy in FY25, making up 6.7% of global GDP growth. Of this, the State Bank of India (SBI) alone contributed $44 billion, or 1.1% of...

RBI Tells Banks to Use New Fraud Detection System

On June 30, 2025, the Reserve Bank of India (RBI) asked all banks to start using a new system called the Financial Fraud Risk Indicator (FRI). This tool was made by the Department of Telecommunications (DoT) to stop rising online...

SBI Opens New Global Trade Finance Centres in Kolkata and Hyderabad

The State Bank of India (SBI), which is India’s largest bank, has started two new offices. These are called Global Trade Finance Centres. One is in Kolkata and the other in Hyderabad. This happened on a Tuesday and it’s a...

Slice Launches India’s First UPI-Powered Bank Branch in Bengaluru

In a groundbreaking move to revolutionize traditional banking, fintech firm slice has launched India’s first UPI-powered digital bank branch in Koramangala, Bengaluru. This innovation blends seamless credit access with the power of Unified Payments Interface (UPI) to offer customers a...

RBI Mandates Banks to Adopt DoT’s Financial Fraud Risk Indicator for Cybersecurity

In a decisive move to strengthen India’s defense against cyber-enabled financial fraud, the Reserve Bank of India (RBI) has directed all major financial institutions to integrate the Department of Telecommunications' (DoT) newly developed Financial Fraud Risk Indicator (FRI). This initiative...

CBDT Raises Cost Inflation Index to 376 for FY26

In a move aimed at easing the tax burden on long-term capital gains, the Central Board of Direct Taxes (CBDT) has announced a hike in the Cost Inflation Index (CII) from 363 to 376 for the financial year 2025–26 (FY26)....

RBI Bans Prepayment Penalty on Floating Rate Loans for MSEs from 2026

In a major pro-business move, the Reserve Bank of India (RBI) has barred all banks and Non-Banking Financial Companies (NBFCs) from levying prepayment penalties on floating rate loans availed by Micro and Small Enterprises (MSEs). This directive, applicable from January...

UPI Sees Minor Dip in June 2025 Amidst Strong Yearly Growth

India’s Unified Payments Interface (UPI), the backbone of the country’s digital payment revolution, recorded 18.40 billion transactions worth ₹24.04 lakh crore in June 2025. While this marks a slight dip from May’s figures, it highlights the maturing and stabilizing growth...

Bank Lending to Industry Slows to 4.9% Amid Broader Economic Caution

In a recent development highlighting signs of economic caution, the Reserve Bank of India (RBI) reported a significant slowdown in bank credit growth to various sectors, including industry, services, and personal loans. According to the RBI’s sectoral credit report for...

India’s Bank GNPAs Fall to Multi-Decade Low of 2.3%: RBI

The Reserve Bank of India (RBI) has reported that gross non-performing assets (GNPAs) in the banking sector declined to a multi-decade low of 2.3% in March 2025, down from 2.6% in September 2024. However, the central bank warned that GNPAs...