RBI CUSTOMER PROTECTION FRAMEWORK
Indian nationals remain third-largest group at US borders despite a decline in illegal migration attempts
US border officials recorded 30,528 encounters with Indian nationals in fiscal year 2026, a striking 64% decrease from 90,415 encounters during fiscal year 2024. Even with more stringent measures in place, attempts at illegal migration, especially from Gujarat, Punjab, and Andhra Pradesh, remain prevalent.
Eyewear regulation Bill may come up in Parliament's winter session; MP Gopchade seeks national vision-care board
Rajya Sabha member Ajeet Gopchade has proposed a private member's Bill for regulating eyewear products and vision-care services. He has urged the Prime Minister to direct the Ministry of Health and Family Welfare to assess creating a National Optical/Vision Care Board. The proposal aims to ensure consumer protection and quality standards in vision-care. The existing Medical Devices Rules, 2017, may need strengthening for better oversight.
Vaishnaw puts onus on social media platforms to curb online harm, stops short of safe-harbour clarity
Vaishnaw said social media companies could no longer remain passive intermediaries as the digital ecosystem evolved and must take responsibility for the harmful consequences of content circulated through their platforms, including cyber fraud and so-called digital arrest scams.
OpenAI launches GPT-6 Cyber with 'Critical' cybersecurity rating
OpenAI released GPT-6 Cyber, a model built to find and exploit security flaws, to a small group of vetted customers on Thursday, rating it "Critical" in cybersecurity under its safety framework.
Sebi revises currency derivatives limits for unhedged positions aligning with RBI norms
Sebi has revised limits for unhedged positions in currency derivatives for domestic clients and FPIs. The new combined notional value limit is set at $5 million at any time. FPIs must control their short positions in foreign currency-rupee pairs to the same $5 million limit. To exceed this threshold for long positions, FPIs need to show underlying exposure in Indian securities.
Tax reporting lapses could risk India's sovereign rating, trigger withholding tax penalties: Income Tax Principal DG Debjyoti Das
Speaking to the media on the sidelines of the 'Summit on Global Financial Compliance (FATCA & CRS)' in Mumbai, Debjyoti Das, Principal Director General of Income Tax (Intelligence & Criminal Investigation), highlighted the growing risks associated with non-compliance in cross-border financial reporting.
- Go To Page 1
Sebi revises currency derivative norms for domestic investors, FPIs; allows to trade up to USD 5 mn
Sebi has revised its regulations to permit domestic and foreign portfolio investors to take positions in currency derivatives. Investors can now hold up to USD 5 million without establishing underlying exposure. The new guidelines also require FPIs to ensure their short positions do not exceed this limit. For amounts above the threshold, FPIs must have underlying exposure in Indian debt or equity securities.
NPCI defends MDR charges in SC, says merchants can't pass on them to customers
The top court on September 28 had sought responses from the Centre and others, including the NPCI, on a petition challenging the decision to impose an MDR on specified UPI person-to-merchant transactions above Rs 2,000.
Tata Motors PV says CERT-In-flagged app vulnerabilities addressed through updates
The vulnerabilities identified in the iRA 2.0 and iRA.ev applications have been addressed through software updates and enhanced security measures, a Tata Motors Passenger Vehicles spokesperson told.
UPI MDR proposal: Street vendors may pass on charges to customers or switch to cash, ISB survey finds
Payments by street vendors exceeding Rs 2,000 may incur charges under the proposed merchant discount rate framework. Many vendors may switch to cash transactions if additional costs are imposed by suppliers. Awareness of the framework varies among vendors in different city tiers, affecting their payment acceptance practices. A significant percentage of Tier 1 vendors are likely to pass on additional charges to customers.
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.
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.
Sebi sets up working group to review Innovators Growth Platform framework
SEBI has formed a working group to review Innovators Growth Platform regulations and improve capital access for startups. The panel will examine listing eligibility, fundraising, investor participation, disclosures and migration to mainboards while safeguarding investor interests.
India leads on non-animal testing and its draft lab animal rules threaten to undo that
India's draft Prevention of Cruelty to Animals Rules 2026 proposes significant changes to animal research regulations and oversight. It allows for harsher experimental practices that could cause severe suffering to animals. Local committees would gain power to approve experiments without thorough central review, raising concerns about ethical standards. This shift contradicts the existing legal framework established by the Prevention of Cruelty to Animals Act 1960.
Hallmarking fee added to your bill? Don't pay if you buy these gold items on Dhanteras 2026
As per the BIS guidelines, there are several gold articles on which the Rs 75 gold hallmarking fee is not applied. These include gold watch and fountain pain, among others. Many jewellery pieces also include two or more parts which may be joined together, like in earrings or necklaces. For such articles, buyers should ensure that each article in a pair and all detachable parts should be hallmarked with different HUIDs.
OneStack raises Rs 12.5 crore to take cooperative banks deeper into UPI ecosystem
OneStack, a fintech provider, secured ₹12.5 crore funding to enhance cooperative bank participation in UPI payments. The funding will help expand services among cooperative banks and NBFCs while developing compliance offerings. Partner banks can now act as UPI issuers and acquirers, which improves revenue opportunities. This shift allows banks to maintain direct relationships with customers and merchants while managing transaction data.
Trump's midterm setback may put India under pressure for quick trade deal on US terms: GTRI
Amid electoral challenges, US President Donald Trump is likely to ramp up pressure on India to seal a trade deal. This potential agreement would require India to decrease import tariffs on US goods while the US keeps its tariffs intact. Analysts caution that such an arrangement may breach WTO MFN principles, undermining India's trade credibility. Additionally, compromising energy security and development aspirations could have serious implications.
NBFCs redesign lending models ahead of revolving credit curbs
Non-banking financial companies are innovating loan products to align with upcoming Reserve Bank of India guidelines. These guidelines aim to limit revolving credit facilities, prompting firms to develop term loans. Bajaj Finance has already begun launching new term loan variants, while Tata Capital is testing modified flexi-loan products. Other NBFCs are reviewing their positions on revolving credit exposure ahead of the final regulations.
How digital distribution shifts the balance of power towards the customer
The insurance sector grapples with pressing issues like mis-selling and customer complaints, which hinder the efficacy of policies. However, digital platforms offer improved transparency, enabling consumers to make well-informed choices about their coverage options. By comparing policies, customers not only save on premiums but also gain better insights into their coverage. Additionally, digital channels simplify grievance resolution, fostering easier interactions with insurers.
Govt mulls giving Cert-In enforceable powers to mandate patching
Last month, two critical flaws in the PHP programming language, discovered with the help of AI, created worldwide panic as hackers targeted the vulnerabilities millions of times, and led to governments including the US, UK, France, Germany and Japan taking down public websites. PHP powers 69.3% of websites worldwide.
Homebuyers’ body FPCE urges PM Modi to restructure RERA as consumer protection law
The Forum for People’s Collective Efforts has urged Prime Minister Narendra Modi to overhaul the Real Estate (Regulation and Development) Act. They emphasize the critical need to distinguish consumer protection from the promotion of the real estate sector, citing persistent enforcement challenges. The group reveals that many homebuyers are facing financial losses due to stalled projects.
Razorpay gets final Gift City licence to expand cross-border payments
Razorpay has attained a payment service provider licence from the International Financial Services Centres Authority. This licence allows the company to process foreign-currency payments from its base in Gift City, Gujarat. The approval enables Razorpay to offer multi-currency accounts and facilitate international transactions. With established integrations with RBL Bank and ICICI Bank, the service is expected to be utilized shortly.
Consent managers search for viable revenue model as registration nears
Consent managers are intended to help individuals manage, review and withdraw consent for the processing of their personal data, and they're required to be registered with the Data Protection Board of India (DPBI). A consent manager is data-blind, and processes metadata, consent artifacts, and cryptographic routing instructions.
Good intentions, unintended consequences: The cost of regulation
Regulation is vital for protecting consumers and building trust, but unpredictable or poorly calibrated policy changes can disrupt business economics, valuations and investment.
Govt sets up banking committee under Suresh N Patel to chart reforms for Viksit Bharat
The government on Friday constituted a High Level Committee on Banking for Viksit Bharat, appointing former Central Vigilance Commissioner Suresh N Patel as its chairman. RBI Deputy Governor Shirish Chandra Murmu, former Indian Bank MD and CEO Padmaja Chunduru and former RBI Deputy Governor N S Vishwanathan are among its members.
SC cracks down on banks, seeks mandatory payouts to cyber fraud victims
The Supreme Court has questioned the Reserve Bank of India's effectiveness in preventing digital fraud. Financial institutions must be held accountable for their role in cybercrime under new regulations. A mandatory liability clause is essential to ensure victims are compensated for losses. The court emphasizes that banks should enhance preventive measures against unusual transactions. The Attorney General mentioned that the RBI is working on regulations to address these issues.
Fintechs to lay out a code for technology vendors amid rising cyberthreats and security risks
Unified Fintech Forum is developing a framework to encourage best practices among technology service providers. This initiative aims to improve cybersecurity preparedness and operational resilience in the fintech sector. Banks and fintech companies increasingly rely on third-party vendors for various services and their failures can impact regulated entities. Registration with the Forum may provide these vendors with preference during selection by financial institutions.
Yes Bank AT-1 bonds: Who will examine administrator's role?
The Supreme Court struck down Yes Bank’s Rs 8,415 crore AT-1 bond write-down as unlawful. The judgment raises questions over the administrator’s conduct and RBI’s role in examining accountability under the applicable legal framework.
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.
Load More
