LIABILITIES
Banks seek centralised fraud reporting mechanism ahead of RBI compensation policy
Banks have approached the Reserve Bank of India seeking clarity on customer eligibility, reporting timelines and liability-sharing under its compensation framework for victims of small-value fraudulent electronic transactions. The policy, set to take effect in January 2027, provides eligible customers compensation of up to ₹25,000, with RBI and banks sharing the cost.
Have the stomach for recognition?
In the latest edition of 'The World's 50 Best Restaurants', Gaggan Anand's establishment in Bangkok ranked second, while Masque secured the 26th spot. This recognition highlights the global appreciation for Indian cuisine. However, the pursuit of such accolades can pose financial strains on restaurants striving for culinary excellence. Balancing prestigious recognition with profitability will be crucial for these acclaimed establishments as they navigate the complex landscape of the dining industry.
Stakeholder inputs sought on proposed GST return changes
The Central Board of Indirect Taxes and Customs is seeking suggestions from various stakeholders on proposed tax changes. This consultation aims to enhance the efficiency of amending tax liabilities and input tax credit. Stakeholders can submit their feedback through the MyGov portal until November 30. The initiative follows recommendations made at the 57th meeting of the GST Council, held on October 8.
How contracting and construction companies can make a loss look like a profit and take investors for a ride
A construction company can report profits even when payments remain uncertain. But disputed contracts, unbilled revenue, and potentially unrecoverable assets can conceal serious financial risks. A look at how accounting assumptions can distort profitability and how investors can identify warning signs hidden in financial statements and auditor reports.
RBI approves Pratap Singh’s appointment as Fino Payments Bank MD & CEO
Fino Payments Bank has announced the appointment of Pratap Singh as managing director and chief executive officer. His term is set to begin on November 27, 2026, or earlier. This appointment is subject to shareholders' approval after board formalities. Ketan Merchant has been serving as interim CEO following the arrest of Rishi Gupta in February.
Smaller MFIs change tack: No onlending, just routing funds
India’s microfinance sector is seeing a structural shift as funding constraints and mounting stress push smaller lenders away from direct lending towards business correspondent models. With bank funding and fresh equity drying up, lenders are increasingly pursuing off-balance-sheet growth and earning fee income by acting as agents for banks. Industry leaders say the traditional joint-liability group lending model is losing relevance as borrowers gain access to multiple formal and digital credit options.
Centre allows majority Indian-owned vessels to register as Indian ships under new Merchant Shipping Act
The Centre has allowed vessels majority-owned by Indian citizens and other eligible entities to qualify for registration as Indian vessels under the Merchant Shipping Act, 2025. A gazette notification defines majority ownership as holding more than 50% of a vessel’s shares.
NCLT approves merger of Jana Holdings with Jana Capital
NCLT approved the amalgamation of Jana Holdings Ltd with Jana Capital Ltd effective November 3, 2026. Both companies belong to the promoter group of Jana Small Finance Bank Limited. The amalgamation aims to eliminate the Non-Operative Financial Holding Company layer while ensuring a seamless transition of assets and liabilities. Jana Holdings was established in January 2017 for regulatory compliance and will be dissolved post-merger.
Meta fined by UK regulator over repeated inaccuracies in WhatsApp Business data
Britain's media regulator, Ofcom, has slapped Meta with a £450,000 fine due to consistent misinformation regarding WhatsApp Business. This penalty ensued after 11 months of erroneous data that contravened five statutory requirements under the communications act. However, Meta's cooperation and acceptance of liability led to a reduced fine. The company is also grappling with separate legal hurdles concerning Ofcom's information requests tied to online safety regulations.
Road ministry doubles performance security for bridge monitoring contracts to 10%
The ministry of road transport and highways has raised the performance security for bridge monitoring projects to 10%. This change aims to ensure higher safety standards and prevent bridge collapses in the future. Additionally, the time for making changes to the bid document has been reduced significantly from two weeks to three days. The refund of security amounts has also been adjusted, benefiting the concessionaires over time.
Joint accounts, tax savings, wills: How couples can protect their wealth
Finances are a cornerstone of marriage, shaping both relationships and futures. At the ET Wealth Expo 2026, specialists emphasized the necessity of balanced fiscal strategies in partnerships, the dangers of income tax clubbing, and the importance of wills.
Lost money to a UPI scam? The first 3 days could decide how much you can recover
In the blink of an eye, UPI scams can wipe out your bank savings, but there's hope for victims. The Reserve Bank of India stands ready to safeguard you against unauthorized transactions. Discover essential actions to take the moment fraud strikes, understand how liability is assessed, and find out what steps to take if your bank turns down your claim.
Under attack, banks bolster cyber covers, opt for higher sum assured to protect against hits
For large financial institutions, the biggest impact often is the loss arising from systems remaining unavailable after an attack, rather than the immediate cost of the breach. Besides business interruption, ransomware, data theft, cyber extortion and third-party liabilities are among the key risks.
FD rate up to 8.6% for senior citizens investing for five years; know the list of banks
Senior citizens can invest in fixed deposits with interest rates reaching up to 8.6%. Suryoday Small Finance Bank leads with these attractive rates for a five-year term. Jana Small Finance Bank follows, offering an 8% interest rate on similar deposits.
Supreme Court directs Punjab, Haryana to supply Himachal Pradesh's energy arrears
A bench led by Chief Justice Surya Kant said the settlement would be implemented on a cashless basis, with the capital-cost liability being adjusted against the energy arrears and the remaining energy being supplied in accordance with the specified schedule.
Govt lines up Rs 9,000 crore asset monetisation plan in FY28 to clear MTNL, BSNL liabilities
The Indian government is preparing an asset monetisation plan to address the liabilities of MTNL and BSNL. This plan is expected to generate Rs 9,000 crore in the next financial year. Government officials report that the liabilities of these telecom public sector undertakings are nearly Rs 50,000 crore. Additionally, several properties among the departments have been sorted for ownership clarity.
Have third-party insurance for your car or bike but no passenger cover? Here's how to add it without cancelling your policy
Exciting changes are coming to motor insurance in India! Starting December 15, 2026, policyholders can enhance their coverage with legal liability for occupants and pillion riders, in a newly structured four-layer insurance model. Learn about the options available to protect passengers and what new transparency measures will ensure better understanding for consumers.
European far right distances itself from Trump, blaming Iran war for Republicans' defeat
Europe's far-right leaders have begun distancing themselves from Donald Trump after Republicans' losses in the US midterm elections, citing the Iran war, rising energy prices and cost-of-living pressures. While some avoided directly criticising Trump, analysts said his declining popularity could turn ties with his MAGA movement from an electoral advantage into a liability.
Irdai mandates four-tier structure for motor insurance from Dec 15
Irdai will implement a four-tier structure for motor insurance covering private cars and two-wheelers. Customers will have the option to select separate covers, including mandatory third-party liability and optional personal accident cover. Existing policyholders can add occupant liability coverage without canceling their current policies.
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