CENTRAL FUNDS
NPCI to use merchant fees to boost UPI acceptance among small shops
In an effort to boost digital payments, NPCI has launched the UPI Vyapaar Saksham Scheme targeting small businesses in tier-3 to tier-6 towns, including regions like Jammu and Kashmir. This three-year initiative will leverage merchant fees to incentivize banks for onboarding new merchants, aiming to roll out millions of new QR codes and soundboxes, thereby significantly increasing transaction volumes in underserved markets.
RBI plans curbs on private equity firms controlling stakes in multiple non-bank lenders: Report
India's central bank is working on new rules to prevent private equity firms from holding controlling stakes in multiple non-bank lenders. The proposal aims to mitigate potential financial risks stemming from global private equity firms' investments. While larger stakes will attract greater scrutiny, smaller investments are encouraged to support growth in the financial sector. Recent data shows significant foreign investment in non-bank lenders, highlighting strong demand for credit.
Hundo Pizza raises Rs 7.5 crore in first funding round led by Titan Capital
Founded in 2020, the brand is shifting towards expansion and enhancing its operational infrastructure. The company aims to achieve an annualised revenue run rate of Rs 60 crore by FY 2027–28.
Gold and silver ETFs fall up to 3% as firm dollar and Fed rate hike bets weigh. Should investors buy the dip?
Gold and silver ETFs declined as a stronger US dollar and rising expectations of a Federal Reserve rate hike weighed on precious metal prices. Financial experts advise investors to continue systematic investments in gold and silver in line with their long-term asset allocation.
Tata Electronics in talks to raise $2 billion for expansion
The first tranche is likely to be up to $800 million, with initial pricing discussions around SOFR plus 180 basis points. The talks are at an early stage, with the final size, pricing and lender participation yet to be firmed up. The loan could be priced at around 6%, assuming SOFR remains at around 3.9%.
RBI issues new domestic money transfer guidelines, retains Rs 50,000 NEFT remittance limit
The Reserve Bank of India has issued new guidelines for domestic money transfers in India. It allows customers to remit up to Rs 50,000 through NEFT at bank branches. Meanwhile, cash pay-out services are capped at Rs 10,000 per transaction and Rs 25,000 monthly per beneficiary. Banks can facilitate transfers to recipients without bank accounts through business correspondents or ATMs.
Ahead of Modi visit, Karnataka steps up pressure on Centre seeking higher central share for Bengaluru Metro
Ahead of Prime Minister Narendra Modi's upcoming visit, Karnataka is launching a campaign for metro funding. Chief Minister DK Shivakumar highlighted the state's financial burden due to project delays and land costs. The government seeks faster Central approvals for the proposed 37.8-km Sarjapur-Hebbal Metro line. Greater Bengaluru Development Minister Krishna Byre Gowda emphasized the need for increased financial support from the Centre.
3 autonomous expert govt bodies roped in to work on microplastics detection: CPCB to NGT
CPCB reported that it will develop methodologies for detecting microplastics in various environments. Central Institute of Petrochemicals Engineering and Technology will handle freshwater and soil samples. National Centre for Sustainable Coastal Management will focus on marine water and coastal sediments. CSIR-NEERI will address the detection of microplastics in the air. The final proposals are expected within twelve months, which will undergo evaluation and refinement.
Fed's Paulson signals further gradual interest rate hikes to curb inflation
Federal Reserve Bank of Philadelphia President Anna Paulson signals support for further interest rate hikes to curb persistent US inflation, which remains above the Fed’s 2% target. Strong October CPI data, resilient employment and rising price pressures reinforce expectations of monetary tightening, with markets anticipating additional increases in December.
Nvidia is 7% of the S&P 500, so if you have an index fund or pension, the Jensen Huang scandal is in your portfolio too
Nvidia faces a notable stock decline following the announcement that CEO Jensen Huang is under investigation by foreign intelligence. This situation raises alarms for investors since Nvidia holds a prominent position in the S&P 500. Although the investigation centers around allegations, Nvidia insists that national security is intact. Analysts are apprehensive about how this may influence Nvidia's strategic direction and leadership.
ET Wealth Expo | Private credit is filling the funding gap as India's growth story gathers pace: Ashish Mehrotra
Speaking on the sidelines of ET Wealth Expo 2026, Ashish Mehrotra, MD & CEO of Northern Arc Capital, said India's strong economic growth, supported by robust credit expansion, is creating a favourable environment for the private credit market.
French Ardian raises over $1 billion to invest in semiconductor makers
Chips are central to AI advances, with governments increasingly backing homegrown companies to secure sovereign technology. The platform, named Ardian Semiconductor, will invest in companies across the whole chain of making computer chips.
Indian rupee breaks six-day winning streak on state banks' dollar bids
The Indian rupee snapped its six-session winning streak on Monday, November 9, as dollar purchases by state-run banks outweighed positive momentum. The currency touched a six-month high of 93.69 per dollar before closing slightly lower at 93.9275. Lower crude oil prices and foreign equity inflows provided some support.
India short bonds may underperform on rate hikes, cash squeeze
India's bond market is experiencing changes due to recent interest rate hikes and tightening liquidity conditions. The Reserve Bank of India is anticipated to raise interest rates significantly in the coming months. Short-term bonds are expected to be more sensitive to these monetary conditions, leading to their underperformance. There are expectations for the yield curve to flatten further as short-term yields rise.
BOJ's Ueda sees upside risks to inflation, says price growth may accelerate into early 2027
Bank of Japan Governor Kazuo Ueda flagged upside risks to inflation, warning that rising energy costs could accelerate price growth into early 2027. He said the central bank was targeting sustainable 2% inflation while monitoring global monetary policy, AI-related market risks and cybersecurity threats to financial stability.
Planning to invest in gold and silver this Diwali? 7 experts decode the risks, outlook and allocation strategy
During the festive season of Diwali, many investors in India turn to gold and silver as traditional investment choices. With the backdrop of rising energy costs and inflation, the prices of these metals have seen fluctuations. Financial experts recommend that in the face of current market volatility, it might be wise for investors to reassess their strategies.
Paraguay's ousted president faces prosecutors after his removal over bank collapse
Santiago Pena was removed from office by Congress following a bank failure affecting nearly three million customers. Prosecutors ordered his arrest for alleged breach of trust and other offenses related to Ueno Bank's collapse. His successor, Vice President Pedro Alliana, began forming a new Cabinet to address the situation. Public protests demanding accountability and access to frozen funds escalated significantly in response.
CBI books Kishore Biyani, Future Retail in Rs 904-crore bank fraud case
The Central Bureau of Investigation has initiated a case against Kishore Biyani along with Future Retail Ltd. This case pertains to an alleged bank fraud involving a total of Rs 904.32 crore. The complaint was filed by the State Bank of India's Stressed Assets Management Branch-III in Mumbai. Allegations include criminal conspiracy along with cheating against the accused parties.
Paraguay President Santiago Pena resigns after bank takeover sparks protests, threatens millions of depositors
Paraguayan President Santiago Pena announced his resignation after the central bank's takeover of Ueno Bank left three million depositors, including pensioners, unable to access their money. The crisis triggered protests, an impeachment push and accusations of political favouritism against Pena, whose own Colorado Party backed his removal.
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