Latest News, Updates & Breaking Headlines
MUMBAI: India took a step closer to becoming a global financial hub with the launch of the foreign currency settlement system (FCSS) at GIFT IFSC, Gujarat, by FM Nirmala Sitharaman during the Global Fintech Fest here. “Currently, foreign currency transactions at IFSCs are routed through correspondent banks, taking 36-48 hours for settlement. The new FCSS…
MUMBAI: RBI has come out with a draft Ombudsman Scheme 2025, which proposes giving the RBI ombudsman broad powers to resolve customer grievances, removing limits on the financial value of disputes and introducing high ceilings for compensation. The move is aimed at providing a cost-effective, non-adversarial mechanism to handle complaints against regulated entities.Under the draft,…
The IPO of LG Electronics India was fully subscribed on the first day of bidding on Tuesday. The portion meant for non-institutional investors garnered 2.3 times subscription, while the category for retail investors subscribed 81%. The quota for qualified institutional buyers received 49% subscription. Meanwhile, the IPO of Tata Capital has been subscribed 75% on…
Bajaj Finserv has rebranded its insurance businesses as Bajaj General Insurance and Bajaj Life Insurance, launching the campaign “100% Bajaj. Made in India. Made for India. Made by India” to signal its commitment to policyholders, business partners, and expanding insurance penetration. The group has received regulatory approvals from the ROC, CCI, and IRDAI to acquire…
MUMBAI: The pool of credit-worthy individuals in India remains small and needs to expand, BVR Subrahmanyam, CEO of Niti Aayog, said at the Global Fintech Fest (GFF) 2025, highlighting the role of technology and fintech in meeting the country’s finance needs.Speaking to Kunal Shah, founder of Cred, Subrahmanyam said India, now the world’s fourth-largest economy,…
India is hopeful of reaching a “fair and balanced” trade agreement with the European Union (EU) by the end of December, commerce and industry minister Piyush Goyal said on Tuesday. The comments come as the 14th round of trade talks between the two sides takes place in Brussels.Goyal said that negotiations would be carried forward…
Asian stocks traded mostly in red on Wednesday following Wall Street’s first slump in eight days, losing streak after gold rallied to record high.Hong Kong’s HSI was down 287 points or 1%, reaching 26,669. Taiwan’s index also slipped down 129 points or 0.48%.Nikkei too traded in red, falling 31 points to 47,919 at 10 AM…
MUMBAI: Department of Financial Services secretary M Nagaraju announced three new digital payment features at the Global Fintech Fest 2025 in Mumbai to make payments simpler and more accessible. The launches include on-device biometric authentication for UPI transactions, Aadhaar-based face authentication for setting or resetting UPI PINs, and cash withdrawal through micro ATMs using UPI…
Representative Image (AI) MUMBAI: Perfios, an India-based B2B SaaS, has teamed up with NeSL, a govt-regulated agency that maintains verified financial records, to use AI and smart data tools to detect early signs of repayment stress. The move aims to help banks lend more safely and quickly, reduce defaults, and expand access to credit. The…
Top stocks to buy (AI image) Stock market recommendations: According to Mehul Kothari, DVP – Technical Research, Anand Rathi Shares and Stock Brokers, the top stocks to buy today are Schaeffler India, Southern Petrochemical Industries Corp (SPIC), and Datamatics:Schaeffler India – Range Breakout + Momentum ConfirmationBuy near: ₹4,360–4,330 | SL: ₹4,010 | Target: ₹5,015Schaeffler is…
