RBI REGULATORY FRAMEWORK DIGITAL FRAUD
SC asks WhatsApp, others to list measures to prevent digital arrest, related cyber crimes
In an order uploaded on the website with regard to the hearing conducted on October 29 in a suo motu case titled 'In Re: Victims of Digital Arrest Related to Forged Documents', a bench headed by Chief Justice of India Surya Kant asked WhatsApp and like intermediaries to simultaneously submit their proposals to the I4C (Indian Cybercrime Coordination Centre).
CM Chandrababu Naidu wants to scrap Rs 500 notes, wants only currency like 100 and Rs 200 in circulation to help tackle corruption
Indian rupees news: N Chandrababu Naidu has reiterated his demand to withdraw high-denomination currency notes like Rs 500. He believes that limiting circulation to Rs 100 and Rs 200 can help tackle corruption effectively. While the Reserve Bank of India is exploring plastic notes for lower denominations, no proposals exist to replace paper currency entirely. Additionally, discussions around digital payments highlight their complementary relationship with physical banknotes.
TRAI sets port charge ceilings for IP-based interconnection, effective Jan 2027
TRAI has capped annual charges for telecom IP interconnection ports at ₹5.6 lakh for 1 Gbps and ₹42.3 lakh for 10 Gbps, effective January 1, 2027. The ceilings apply across fixed-line, mobile and long-distance services, with operators free to negotiate lower rates.
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.
Health insurance claims: How the moratorium clause protects you after five years
Cutting through money jargon, one topic at a time. This week, Preeti Kulkarni explains how the moratorium clause in health insurance protects policyholders against arbitrary claim rejections. The moratorium period is calculated based on the number of years of continuous coverage. So, if you port your policy to another insurer, the moratorium clock does not get reset -- you do not lose the benefit of the period already served.
81-year-old Bengaluru CA helps 8 companies send Rs 200 crore overseas, seeks protection from arrest after tax evasion probe, blames staff misused his digital signature
An 81-year-old Bengaluru chartered accountant allegedly issued 163 Form 15CB certificates for eight companies involved in foreign remittances worth Rs 200.58 crore. He claimed his staff misused his digital signature. A Mumbai special court rejected his anticipatory bail plea, questioning the timing of his police complaint.
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Parliamentary panel to review media laws across print, TV and digital platforms
The Standing Committee on Communications and Information Technology will review media laws in 2026–27. The examination will include print, television, and digital platforms. The committee has outlined various subjects related to the Ministry of Information and Broadcasting. Concerns regarding regulatory overlaps will also be addressed in relation to the broadcasting and digital sectors. Additionally, the review will encompass emerging technologies and their impact on the media landscape.
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.
Plea seeking Tata Sons listing filed in Bombay High Court
According to the filing before the Bombay High Court, Rohini Amin and L Ramanathan jointly filed writ petition on November 5. The petition names Tata Sons Ltd, N Chandrasekaran, Saurabh Agrawal, Harish Manwani, Anita M George, Noel Tata, Venu Srinivasan, Darius Khambata, Bhaskar Bhat and Siddharth Sharma as respondents.
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.
Go Digit says IRDAI's EoM rules led to unintended rise in commission
Goyal said that the existing Expense of Management (EoM) framework had failed to achieve its intended objective of reducing expenses, with some insurers using savings from large government and crop insurance businesses to increase commissions in retail segments.
Go Digit posts 31% dip in net profit to Rs 142 crore
The company’s management had previously noted that in the last five years there has been no increase in third-party motor insurance rates, while pricing across most lines has drifted down and claims costs have continued to rise.
SBI-led banking alliance comes together to mount a defence to AI threats
Indian Banks' Association, led by State Bank of India, is developing a strategy for cybersecurity in the AI era. The initiative focuses on improving coordination among banks and facilitating timely information sharing. Increasing digitalization has expanded the potential for cyberattacks, urging immediate measures to mitigate risks.
Central cyber security agency warns banks, NBFCs of AI attacks; I4C reveals how hackers are executing multi-crore frauds
I4C has warned banks, NBFCs and fintech firms about AI-powered cyberattacks that enable hackers to execute fraudulent transactions at machine speed. The agency has flagged multi-crore unauthorised fund transfers, urged financial institutions to strengthen API security and directed them to report cyber incidents to CERT-In and RBI within six hours.
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.
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.
Equitas Small Finance Bank shares jump 9% after Balaji Nuthalapadi’s appointment as interim CEO
The bank further said that appointment of Nuthalapadi as interim CEO, consequent to the resignation of P. N. Vasudevan as the MD & CEO, shall take effect from the date of RBI approval or such other date as may be stipulated by the RBI in this regard.
ETtech Explainer: Why SIM-binding is a concern for consumers and businesses
A new study raises alarms about the Department of Telecommunications' proposed SIM-binding requirement for messaging applications. The mandate could severely disrupt operations for consumers and businesses alike, especially impacting international travelers who depend on local SIMs or Wi-Fi. Businesses are bracing for heightened costs and difficulties tied to limited device accessibility.
China to expand global access to yuan assets, promote Hong Kong as offshore hub
China plans to expand global access to yuan-denominated assets and strengthen Hong Kong's role as an offshore yuan hub. Meanwhile, regulators flagged risks from surging AI investments, warning of rising leverage, higher borrowing costs and financial instability.
New Rs 10, Rs 20 & Rs 50 notes to run short before Diwali? PIB Fact Check debunks viral RBI circular
A viral WhatsApp message claiming that new Rs 10, Rs 20 and Rs 50 notes may be in short supply ahead of Diwali has been debunked by PIB Fact Check. The agency clarified that the RBI has made no such announcement and urged people not to share unverified claims.
CII calls for GST-like reforms in land, labour & local approvals
CII has called for extending the GST Council's approach to decriminalise offences in various sectors. This move aims to enhance ease of doing business and attract investments in land, labour, and construction. The organisation emphasizes the importance of simplifying regulatory processes across different government tiers.
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.
India’s Crypto market has entered its next chapter
India's digital asset landscape is rapidly transforming, attracting participants across diverse sectors even amid regulatory hurdles. Coinbase's revival highlights the global acknowledgment of India's promising market for digital assets. Innovations like stablecoins and tokenization are reshaping payment mechanisms and asset accessibility. A self-regulatory framework is proposed to promote transparency, responsibility, and creativity in the industry.
SC calls for compensation to digital fraud victims if banks fail due diligence
The Supreme Court has highlighted banks' accountability regarding digital fraud, asserting that victims deserve compensation for losses due to banks' lack of diligence. It called for enhanced preventive measures to spot suspicious transactions. Attorney General R Venkataramani remarked on a significant decrease in reported digital scams this year, but the court maintained that financial losses from cybercrime remain a pressing concern for the public.
Social media norms, AI, deepfakes, chips among others on review list of parliamentary panel in 2026-27
The development comes as several incidents of age-inappropriate content, circulation of child sexual abuse material (CSAM), and alleged censorship on social media have been reported widely.
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