DIGITAL BANKING INDIA
AI narrative needs to change for India: K Balasubramanian, CEO, Citibank India
Long-term capital-gains tax is a big factor on the equity side. On direct investment, the trade agreements are going to be a big positive. Trade agreements create potentially important UK-India and EU-India corridors. We have been doing a lot of work identifying companies that could benefit and engage with clients. For Citi, that opportunity can flow through services and markets and potentially through investment-banking transactions as multinational companies raise capital in India, says K Balasubramanian, CEO, Citibank India.
SBI's Setty sees 50 bps more rate hikes, says retail loan quality unlikely to suffer
State Bank of India chairman CS Setty noted that upcoming rate hikes could affect discretionary consumption demand. He highlighted that retail asset quality is expected to remain stable at the system level. Setty indicated a projected 0.50 percent rate hike in December, followed by a pause in February. Additionally, he discussed plans for a new version of the Yono app aimed at Jan Dhan account holders.
5 ways to invest in gold this Dhanteras and Diwali: From jewellery and gold ETFs to digital gold
Gold purchasing sees a significant rise during Dhanteras and Diwali, celebrated for their cultural relevance. Investors can explore various avenues like physical gold, ETFs, and digital gold options.
Jio IPO allotment likely today: GMP signals 22% listing gains. Here’s how to check status
The IPO allotment is expected to be finalised today, allowing applicants to check whether they have been allotted shares through the registrar’s website and other online platforms. Jio Platforms shares are scheduled to list on the BSE and NSE on October 28, 2026.
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Jio’s record India IPO falls short of record payday for bankers
Jio Platforms raised about $3.1 billion through its record IPO, but intense competition among investment banks kept fees relatively low at around 0.65% of the issue size.
Rogue AI agents exposing India’s data law blindspots
As companies edge closer to the May 2027 enforcement deadline for the Digital Personal Data Protection (DPDP) law, AI’s emerging cybersecurity risks are creating tension over what might constitute adequate compliance just six to seven months from now.
Bank holiday today: Are banks open or closed in your state today on October 26, 2026? Check RBI list
Due to various holiday celebrations, bank branchesin some states will not be open today as per the Reserve Bank of India's schedule for October 2026, which includes Laxmi Puja and Maharishi Valmiki's Birthday.
Double-digit growth seen on corporate scoreboard in Q2, but bank, IT, pharma lag
September quarter earnings exhibited significant revenue and profit growth for various companies in key sectors. Revenue rose by 22.1% with net profit increasing by 27.5%, surpassing the previous quarter. However, banking, IT, and pharmaceuticals sectors experienced a slow down in growth rates. Excluding lending, operating margins improved, indicating stronger performance in non-banking sectors. Analysts expect 13 out of 18 sectors to deliver double-digit sales growth in the coming quarters.
Bank holiday tomorrow, October 26: Banks to remain closed in select cities, check state-wise list
Bank holiday tomorrow, October 26, 2026, will affect select cities, including Agartala, Chandigarh, Jammu, Shimla and Srinagar, for regional observances. Banks are not scheduled to close nationwide. Check the state-wise list to see where branches are expected to remain shut and whether your local bank is likely to operate as usual.
UPI handles nearly 80 crore transactions daily, says Nirmala Sitharaman
Union Finance Minister Nirmala Sitharaman highlighted the impressive growth of India's digital payments ecosystem. The Unified Payments Interface processes over 2,400 crore transactions every month, showcasing its effectiveness. Sitharaman emphasized the expansion of fintech initiatives that enhance access to credit and investment opportunities. Data centres were granted infrastructure status in 2022, aiding digital infrastructure. The Reserve Bank's new campus will bolster payment systems and provide cybersecurity training.
PM Modi inaugurates RBI’s Rs 169-crore data centre, cybersecurity institute in Odisha
Prime Minister Narendra Modi inaugurated the newly established Reserve Bank of India's data centre and Cybersecurity Training Institute in Bhubaneswar. The investment for these facilities was Rs 169 crore, aimed at enhancing technological infrastructure. The data centre holds Uptime Institute's Tier IV certification, which ensures resilience in data handling. The Cybersecurity Training Institute will focus on emerging technologies and research in the banking sector.
PM Modi to inaugurate RBI's data centre in Bhubaneswar
Prime Minister Narendra Modi is set to inaugurate the Reserve Bank of India's state-of-the-art data centre and Cybersecurity Training Institute on Sunday. This initiative aims to bolster Odisha’s digital framework and elevate national financial security. Situated in Jatni, the facility is designed to support crucial payment and settlement operations. With 2,100 police personnel and traffic regulations in place, this visit marks Modi's ninth trip to Odisha since 2024.
Centre beats March 2027 target, issues 11 crore unique farmer IDs under AgriStack
The Indian government has successfully created 11 crore unique Farmer IDs under the AgriStack framework. This achievement was completed ahead of the scheduled deadline, enhancing transparency and efficiency for farmers. Farmers will only need their unique ID to access various government schemes and benefits. Union Agriculture Minister Shivraj Singh Chouhan highlighted the significance of this milestone for Indian agriculture.
Saturday bank holiday today: Are banks open or closed today on October 24, 2026?
Banks across India are closed today, October 24, 2026, marking the fourth Saturday of the month. It’s advisable for customers to reschedule their banking activities for the following business day to ensure everything runs smoothly.
eMudhra’s security lapse highlights need for homegrown technology to meet global standards
eMudhra's private-key leak reveals serious vulnerabilities within India's digital trust architecture and certification processes. The incident exposes weaknesses in the handling of cryptographic keys and compliance audits, raising trust issues. Many Indian citizens use outdated devices that may not receive necessary security updates for compromised certificates. As digital infrastructure evolves, the country must ensure stronger competitive practices and resilience against future threats.
FSDC stresses on vigilance, reforms amid global uncertainty & AI boom
Finance minister Nirmala Sitharaman led an important session of the Financial Stability and Development Council, focusing on maintaining financial stability amidst looming geopolitical tensions and fluctuating global bond yields. Key topics included fostering a robust domestic investment climate, ensuring effective capital movement for reform, and addressing cybersecurity needs within the financial sector.
Real-time payments explained: How money moves between bank accounts in seconds
Real-time payments allow money to move between bank accounts within seconds, making transactions faster and more convenient for consumers and businesses. In India, systems such as UPI and IMPS enable instant transfers, while RTGS processes high-value payments in real time. Here is how these systems work, the technology that powers them, their benefits for businesses and customers, and the security challenges.
IndusInd Securities appoints ex-Standard Chartered Securities chief Rajeev Srivastava as MD & CEO
IndusInd Securities has announced the appointment of Rajeev R Srivastava as its new managing director and CEO. He brings nearly 25 years of experience in banking and financial services to the role. Srivastava aims to modernize the firm and enhance its investment platform while utilizing data and artificial intelligence. His priorities include improving client experience and expanding the company's geographical reach.
SBI data leak scare: Bank contacts affected customers. Is your money safe?
State Bank of India has begun notifying customers potentially affected by a recent cyber incident. The bank assured customers that their account balances and funds remain secure throughout the investigation. Alerts were received about the data exposure from cybersecurity agencies, prompting immediate action by the bank. A total of 3,897 records containing personal customer information were identified in the investigation.
Jio IPO: Subscribe on day 2? What investors need to know
Jio Platforms’ Rs 30,230-crore IPO received bids worth Rs 95,500 crore on Day 1, with total demand, including anchor investors, reaching Rs 3.45 lakh crore. As the issue enters its second day, brokerages weigh in on its growth prospects, valuation and whether investors should apply now or wait.
EPS pensioner alert! How EPS pensioners can submit their Jeevan Pramaan sitting at home
EPS pensioners can now submit their Digital Life Certificate effortlessly from home. Thanks to the India Post Payments Bank, a convenient doorstep service is available to assist them.
PNB cautions customers of AI-led cyberattacks amid surging frauds
Punjab National Bank has alerted its customers about the escalating threat of AI-generated cyberattacks. These advanced phishing techniques employ AI voice cloning to trick individuals into hastily carrying out transactions. The bank strongly encourages customers to stay vigilant, ensuring they verify communications through reliable sources. Emphasizing the need for good digital practices, the bank reminds customers that cybersecurity is a joint effort.
ISB programme explores AI’s growing role in the future of digital finance
The Executive Programme in Fintech and AI at ISB is crafted to equip finance professionals with cutting-edge skills in financial services. Spanning 32 weeks, this program offers live online sessions alongside engaging experiential learning. Participants will delve into real-world applications of fintech, artificial intelligence, and blockchain. Tailored for senior finance leaders, this course seeks to enhance strategic decision-making. Applications for the next cohort are now open, creating valuable networking opportunities.
Moody's sees limited impact on Fairfax leverage from IDBI Bank takeover
Fairfax Financial Holdings is preparing to acquire a majority stake in IDBI Bank in India. The Canadian investor's acquisition aims to enhance its presence in the growing Indian financial market. Fairfax plans to fund the transaction through various means, ensuring a stable financial position during the process. IDBI Bank has shown improved profitability since 2021, reflecting successful management changes.
Axis Bank's Freecharge gets in-principle RBI nod to operate as payment aggregator
Axis Bank's digital payments platform Freecharge has received in-principle approval from the Reserve Bank of India. The approval allows Freecharge to operate under PA-O1 and PA-P1 categories starting in FY27. The bank has reported a 34% year-on-year growth in UPI transaction value for July-September. Digital transactions represented 98% of the total financial transactions during this quarter. Axis Bank continues to expand its digital payments operations, reflecting ongoing investment in technology.
'Twelve years, 12 questions': Akhilesh Yadav targets Centre on banking problems in India
Akhilesh Yadav has posed twelve significant questions to the Centre about the current state of the banking sector. His concerns highlight issues like bank privatisation, high fees, and the challenges faced by customers. He queries the closure of rural branches and the accessibility of loans for young borrowers and small traders. Yadav also addresses cyber fraud, loan interest rates, and the pressure on bank employees affecting customer service.
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