Rupee perks up 96 paise on RBI’s weekend measures
Rupee gains after RBI weekend measures curb volatility, with mixed gilt yields and factors shaping near-term USD/INR dynamics.
Banking and Finance
The latest banking and finance stories, updated through the day.
Focus on actual payouts, not just claim settlement ratios: IRDAI Chairman
IRDAI aims to curb mis-selling with reforms linking commissions to persistency, ensure actual payouts matter, and boost transparency for policyholders.
PFRDA brings NPS Tatkal to PhonePe and BHIM: How to open an NPS account online in 3 simple steps?
PFRDA has made the NPS Tatkal facility available on PhonePe and BHIM, allowing eligible users to open a National Pension System account in three steps. Here is how the digital registration process works, the minimum contribution and what investors should know.
RBI tightens forex derivatives framework to ensure orderly functioning of market
RBI tightens fx derivatives rules with a 20% cash FERR for large trades and opens a daily USD window for three PSUs.
Personal loan rates October 2026: Check EMI and processing fees across 22 lenders
Personal loan interest rates in October 2026 range from 8.90% to 30.50% across 22 lenders. Compare personal loan EMIs, interest rates and processing fees for a ₹5 lakh, five-year loan before choosing a lender and assessing your repayment capacity.
RBI rate hike impact: Shriram Finance increases FD rates up to 7.85% effective October 11
Revised rates to take effect from October 11; 24–35 months and 15 months digital fixed deposits to earn 7.5%.
Deposit rate hikes unlikely for 3 months; RBI action to help NIMs: SBI chairman C S Setty
State Bank of India Chairman C S Setty stated there will be no deposit rate hikes for the next three months. He cited sufficient liquidity in the system as a key reason for this prediction. Setty mentioned that credit growth is expected to sustain at 14 to 15 percent over time. He emphasized that ba…
At Rs 35.9 crore, HDFC Bank's incoming boss Anup Bagchi set to be India's highest-paid bank CEO
HDFC Bank has proposed an annual compensation package of up to Rs 35.90 crore for Anup Bagchi. This remuneration could increase to Rs 43.24 crore with performance-based stock bonuses. Bagchi's package is significantly higher compared to previous CEO Sashidhar Jagdishan's total remuneration. HDFC Ban…
RBI rate hike: Your home loan EMI just went up
The monetary policy committee (MPC) voted unanimously for the increase and adopted a stance of "calibrated tightening". RBI Governor Sanjay Malhotra said rate cuts were off the table for now, leaving a further increase or a pause as the choices at future meetings. The impact on existing borrowers wi…
NBFC services to banks will attract 18% GST
The interest on the underlying loan will remain exempt from GST. The 18% levy will apply to the taxable service supplied by the NBFC to the bank in the co-lending arrangement. The committee also decided to align the valuation of the NBFC's service with the methodology prescribed by the Reserve Bank…
Govt asks banks to develop a sector-wide quantum transition along with an AI resilience framework
According to the industry, major concerns in this segment include 'harvest now, decrypt later' threats, where cyber adversaries stockpile encrypted banking data for future quantum decryption. The finance ministry has also asked banks to assess post-quantum vulnerabilities and initiate mitigation mea…
New RBI data reveals a recast of India's overnight money market numbers
During the first half of the fiscal year 2026-27, private sector banks saw their share in the tri-party repo market come down, while public sector banks boosted their position in the collateralised overnight money market. Notably, mutual funds maintained a strong presence in the tri-party repo marke…