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GUWAHATI: The Enforcement (ED) Directorate on Saturday claimed to have busted a sophisticated cross-border narcotics syndicate, exposing a trail that links chemical suppliers in Gujarat to the industrial production of methamphetamine, one of the world’s most dangerous stimulants commonly known as meth and yaba, in Myanmar.“Precursors and pre-precursors used in the production of methamphetamine are…
The Reserve Bank of India (RBI) on Friday said the process of interlinking the Unified Payments Interface (UPI) with the Eurosystem’s TARGET Instant Payment Settlement (TIPS) platform has entered the realisation phase, marking a step towards enabling cross-border instant payments between India and Europe. RBI and NPCI International Payments Limited (NIPL) have been in discussions…
NEW DELHI: India told the United Nations Security Council on Monday that it has long suffered from cross-border terrorism and called it to maintain a zero-tolerance approach. The warning came hours after a car explosion near the Red Fort metro station in Delhi killed at least twelve people and injured several others.“India has fought the…
Representative image credits: IANS Tehreek-e-Taliban Pakistan’s (TTP) second-in-command Amjad, a key figure in the banned militant group, was killed along with three other militants when security forces foiled an infiltration attempt from Afghanistan into Pakistan, the army said on Thursday.According to a statement from the Inter-Services Public Relations (ISPR), cited by PTI, the militants tried…
MUMBAI: Geopolitical tensions pose a growing threat to cross-border payments, RBI said in its latest report on payments. The central bank warned that the global financial system’s dependence on centralised infrastructure and a few dominant settlement currencies makes it vulnerable to international conflict and sanctions.According to RBI, sanctions or restrictions on financial systems or currencies…
MUMBAI: RBI has announced measures to promote internationalisation of the rupee, aiming to expand its use in trade, financing, and investment while reducing dependence on the dollar. The move comes even as the US is pressurising emerging markets from moving against the dollar.Financial Benchmarks India (FBIL) will publish reference rates for select currencies of India’s…
Yes Bank stake sale: State Bank of India (SBI) has offloaded around 13.18% of its holding in Yes Bank Limited (YBL) to Japan’s Sumitomo Mitsui Banking Corporation (SMBC), marking the completion of a major divestment.SMBC, part of the Sumitomo Mitsui Financial Group (SMFG), is counted among the top foreign banks in India. SMFG itself is…
The Reserve Bank of India (RBI) on Monday rolled out final guidelines to regulate payment aggregators, bringing in a new framework that takes effect immediately.Under the Regulation of Payment Aggregators Directions, 2025, the RBI has classified aggregators into three categories — PA-P for physical, PA-CB for cross-border, and PA-O for online, PTI reported. While banks…
