India’s gold and silver imports nearly doubled in September 2025 despite record-high domestic prices, as banks and jewellers rushed to build inventories ahead of the festive season and a possible increase in import base prices. The surge, while supporting global bullion markets, risks widening India’s trade...
With 50% US tariffs on Indian exports looming, sectors like leather, textiles, and jewellery face significant job and revenue losses. While Brazil announced a $5.5 billion support package, India is considering only a modest $255 million credit plan, reflecting Prime Minister Narendra Modi’s cautious fiscal stance....
The National Consumer Helpline (NCH) has logged nearly 3,000 complaints related to GST 2.0 tax cuts, according to Consumer Affairs Secretary Nidhi Khare. Issues primarily involve retailers not passing on tax benefits and resorting to misleading discount practices. The ministry is using AI-driven monitoring tools to...
Nearly half of senior BFSI executives (49%) view GIFT City as India’s strongest candidate for a global financial hub, according to a new PwC India survey. With 63% of respondents expressing interest in relocating or expanding to the Gujarat-based financial district, GIFT City is fast emerging...
Bank of Baroda (BoB) has signed a co-lending agreement with IIFL Finance to expand credit access for agricultural and allied activities. The partnership aims to combine BoB’s low-cost funding strength with IIFL’s deep rural reach, delivering faster, more affordable loans to small borrowers. The collaboration is...
Citigroup has shifted nearly 1,000 technology jobs from China to its Indian Global Capability Centres (GCCs) as part of a global restructuring effort. The move follows a 3,500-job cut in China’s tech workforce and highlights India’s growing role as a strategic hub for global banks. Citi...
IndusInd Bank is under regulatory and law enforcement scrutiny after its former CFO, Gobind Jain, alleged accounting lapses dating back to 2015 in its derivatives portfolio. Jain claims senior management, including ex-CFO SV Zaregaonkar, was aware of losses that could touch ₹700 crore, but no external...
The removal of GST on life and health insurance premiums has triggered a sharp spike in demand, with LIC recording ₹1,100 crore inflows on the very first day of implementation. The decision, effective September 22, 2025, is expected to make policies more affordable, encouraging higher coverage...
The Finance Ministry (FinMin) has instructed banks, financial institutions, and CPSEs—including the RBI—to discontinue spending on festival gifts like Diwali hampers. The advisory, based on a Department of Public Enterprises (DPE) directive, is aimed at curbing non-essential expenditure and reinforcing fiscal prudence. The move comes even...
The Reserve Bank of India (RBI) has introduced standardised procedures for banks to settle claims of deceased customers, eliminating divergent practices across lenders. From now, nominees and survivors will not be required to furnish succession certificates or legal documents, irrespective of account size. For non-nominee accounts,...
Global Capability Centres (GCCs) in India are increasingly becoming launchpads for global leaders. Over the past two years, more than 10 executives from India’s GCCs have moved into CXO roles abroad at parent companies such as Tesco and Walmart. With India hosting nearly 1,750 GCCs employing...
The Employees’ State Insurance Corporation (ESIC) added 20.36 lakh new employees to the ESI scheme in July 2025, marking a 5% rise from June. More than 31,000 establishments came under the scheme’s ambit, reflecting steady growth in formal job creation. Significantly, nearly half of the new...
A joint venture between Bharti Enterprises and Warburg Pincus plans to raise ₹40 billion ($451 million) through a bond issuance to finance its acquisition of a 49% stake in Haier India. The offering, carrying an 11–12% coupon, will be arranged by Kotak Investment Bank and is...
Non-bank lenders are rapidly expanding their hold on India’s ₹15 lakh crore personal loan market, even as banks tread cautiously. Data from CRIF and Nomura shows NBFCs’ share in new loan originations rose to 41% by value and 92% by volume in June 2025, up sharply...
Credit card issuances in India climbed to a seven-month high in August 2025, with nearly 700,000 new cards distributed. The total active cards now stand at 112.3 million, as banks like HDFC, Axis, and ICICI ramped up distribution ahead of festive demand. Despite flat monthly spends...
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