RBI DATA CENTRE
Is India a “shadow transshipment” hub? The data says otherwise
Between 2014 and 2024, India’s goods exports to the US grew 1.86 times, while US exports to India grew 1.94 times. A rising two-way relationship, with India’s global exports also up 1.36-fold, is hard to square with a “mere pass-through” story tailored to one market.
Banks seek relief from sustainable lending norms for FCNR(B) loans
Banks have approached the International Financial Services Centres Authority regarding sustainable lending targets for international banking units. The request stems from a significant rise in Foreign Currency Non-Resident deposits at GIFT City. These deposits have surged following the Reserve Bank of India's swap facility introduced in June. It is expected that the IFSCA may provide similar exemptions as the RBI has done before.
Ind AS 118: India Inc gears up for big changes to financial reporting
India’s largest companies are preparing for the implementation of Ind AS 118, which may impact financial reporting. Changes include new classifications for income and expenses, and new operating profit reporting methods. Companies face challenges due to complex requirements and the need for system adjustments. Audit committees are discussing transition plans while awaiting final rules and guidance from regulatory bodies.
RBI data centre to strengthen payment systems, cyber resilience
The Reserve Bank of India inaugurated a new sovereign data centre to enhance the resilience of financial services and reduce reliance on third-party cloud providers. Prime Minister Narendra Modi also inaugurated a cybersecurity training institute, which will develop expertise in emerging technologies. The data centre will support critical systems like RTGS and NEFT for efficient financial transactions.
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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.
A turbulent year at HDFC Bank: Controversies that kept India’s biggest private lender in the headlines
HDFC Bank has faced a turbulent year marked by governance concerns, its former chairman’s abrupt exit, scrutiny of Dubai operations, post-merger profitability challenges and CEO Sashidhar Jagdishan’s departure. A fresh probe into alleged leaks of confidential information adds to the challenges awaiting incoming chief executive Anup Bagchi as the bank seeks to restore investor confidence.
Rising corporate borrowings, hello!
Public Sector Banks in India are experiencing an increase in corporate borrowing, reflecting a strengthening of private sector capital expenditure. Key sectors driving this trend include wholesale trading, commercial real estate, and chemicals. Factors such as robust economic growth and low bond yields are contributing to expanded corporate lending. While companies remain cautious due to structural uncertainties, a new wave of investment is anticipated.
Looking to ride India boom over next decade with IDBI Bank, says Fairfax chief Prem Watsa
Prem Watsa, chairman of Fairfax Financial, has acquired a major stake in IDBI Bank, emphasizing India's economic growth potential. He believes that India will experience significant economic advancements over the next decade. Watsa expressed confidence in the bank's financial recovery and potential for expansion after overcoming past challenges. He assured that the focus will be on maintaining the lender's fiscal integrity and staff welfare.
Fairfax gets 15 years to reduce stake in IDBI Bank to 26%
Fairfax Financial Holdings will acquire a 60.72% stake in IDBI Bank and reduce its ownership over 15 years. The Reserve Bank of India has allowed Fairfax to decrease its stake to 26% eventually. Fairfax has two years to decide the future of CSB Bank, including merger or sale options. The group aims to transform IDBI Bank into a comprehensive financial services entity.
Supreme Court rules against Yes Bank's write-off of Rs 8,415 crore AT1 bonds
The Supreme Court confirmed the decision of the Bombay High Court regarding Yes Bank's AT1 bonds. This ruling impacts ₹8,415 crore in bonds written off during the bank's 2020 restructuring. The court noted that the administrator lacked the authority to write down these bonds. Bondholders had contested the write-off, citing mis-selling of the securities. Yes Bank is now obligated to repay the bonds along with accrued interest.
India is now biggest country exposure for Fairfax, we have zero bets on AI: Prem Watsa
Canadian billionaire Prem Watsa's bet on IDBI Bank is backed by faith in the Indian economy, he told Mohit Bhalla and Sruthijith KK in a phone interview. The government Wednesday approved the divestment of a majority stake in IDBI Bank to Watsa's Fairfax Financial Holdings. Watsa, 76, who was born near Hyderabad and studied at IIT-Madras, migrated to Canada in the 1970s. Started by him as an insurance company, Fairfax Financial now has assets of over $100 billion. Edited excerpts from the interview are in the copy.
Stocks in news: Reliance Industries, Jio Financial, Tata Tech, HDB Financial and Wipro
Indian equity benchmarks ended lower after a volatile session influenced by strong wholesale inflation and elevated crude oil prices. The Nifty 50 declined, testing the support zone of 22,580-22,620, which might weaken with repeated tests. Several companies, such as Reliance Industries and Tata Technologies, are expected to be in focus due to upcoming quarterly earnings.
Govt not only 'stealing' votes but also savings: Congress on rise in inflation
Congress leader Jairam Ramesh pointed out that inflation is rising, impacting essential goods and public savings. Food inflation surged to 7.74 percent, with significant increases in prices of onions, garlic, and ginger. The Reserve Bank of India has raised the repo rate in response to these inflationary pressures. The party accuses the Modi government of failing to address the economic struggles faced by the people.
Reissued bonds account for nearly 66% of state borrowings in H1 FY27: Report
In recent years, states have made a substantial impact on their finances by reissuing bonds, which now form a significant portion of their market borrowings. This trend, particularly pronounced over the last two years, illustrates an increased involvement from state governments. Coupled with the Reserve Bank of India's push for greater market transparency, the reissuance of bonds could enhance liquidity, creating a more appealing landscape for bond investors.
The auditor is no longer alone. There’s another intelligence in the room
Auditors are increasingly adopting artificial intelligence to enhance the efficiency and accuracy of audits in India. These technological advancements allow auditors to analyze vast amounts of data and detect inconsistencies effectively. AI tools automate repetitive audit tasks, which helps auditors focus on more complex decision-making processes. The role of human judgment remains essential, as AI cannot replace professional expertise in audits.
GST 2.0: From stuck tax credit to fewer disputes, industry chambers list key reform demands
GST 2.0 reforms: Industry chambers are calling for reforms to GST 2.0 during the upcoming GST Council meeting. They seek improvements in input tax credit unlocking, faster refunds, and easier compliance measures. Proposed changes aim to reduce disputes and optimize the tax structure for businesses. Furthermore, several sectors, including real estate and automobile, emphasize enhancing cash flows through better ITC policies.
RBI opens up Account Aggregator network, making financial data sharing easier for consumers
The Reserve Bank of India has introduced inter-operability among various Account Aggregators to simplify information sharing. Customers will be able to authorize financial data sharing with banks and lenders. This interconnected system eliminates the need for users to switch platforms for different Account Aggregators. The changes are aimed at enhancing convenience and seamless interactions in financial services. Customer consent remains essential for the sharing of financial information between platforms.
Four horsemen of economic trouble? RBI governor flags the risks spooking the world
The RBI raised the repo rate 25 bps to 5.50%, its first hike in nearly four years, and shifted its stance to calibrated tightening. Governor Sanjay Malhotra flagged four global risks: West Asia tensions and volatile oil prices, tariff uncertainty, elevated bond yields and stretched AI stock valuations. He said these risks are clouding global sentiment despite resilient growth.
These 8 banking stocks have an upside potential of up to 29% in 1 year, according to analysts
For the last two years, one sector where actual performance has been better than expected has been banking. Yes, there were exceptions among small finance banks. But the question now is: Will the situation remain the same given that there are many emerging challenges?
Keeping AI models under control: When an agent causes harm, who bears the blame?
If an AI agent goes rogue, who do you hold responsible— the agent, the LLM developer or the human? asks EY partner Shivaprakash Abburu. Experts believe regulators are slow to build frameworks even as enterprises across the world are actively integrating AI into their workflows.
Bajaj Finserv to rope in ex-GIC re chief for reinsurance venture
Bajaj Finserv is preparing to enter the reinsurance sector with the appointment of N Ramaswamy Narayanan. The former chairman of GIC Re brings over thirty years of reinsurance experience to the role. This strategic move aims to strengthen the Bajaj Group's existing insurance operations through a new subsidiary focused on reinsurance.
Fuel, finance shocks already hitting global economy; India better placed but not insulated: Neelkanth Mishra
Higher fuel costs and tighter financial conditions are significantly affecting global demand and capital costs. India is comparatively better positioned than many developed markets, yet it remains vulnerable due to imported energy. The high dependence on crude oil and foreign capital poses risks for India's growth amid global economic pressures. Global bond yields have risen, increasing pressures on mortgage rates and investment costs domestically.
ETMarkets Smart Talk| ‘Desi to Videsi’: How GIFT City is changing the way Indians invest globally — Mustafa Pardiwala
GIFT City is emerging as a gateway for Indian investors seeking global diversification, offering access to US stocks, ETFs and sectors such as AI and semiconductors. Mustafa Pardiwala of Mirae Asset Capital Markets (IFSC) explains how investors can start with smaller amounts, the role of ETFs, currency risk and fractional investing.
Predicting FII flows akin to predicting mood swings: DSP MF CIO Anish Tawakley
At any point in time the market is influenced by multiple factors and it is impossible to attribute performance across those factors. I focus on earnings rather than flows. I would caution anyone against basing investing decisions based on flows for three reasons.
Beyond the 7% headline: S&P maps the forces driving India’s next growth phase
India’s economy is set to grow 7% in FY27, according to S&P Global, which sees domestic demand, private investment, manufacturing, trade, energy security, renewable power, digital infrastructure and technology shaping India’s next phase of economic growth.
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