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The Department of Telecommunications has blacklisted 300,000-400,000 SIM cards linked to fraud. Its Financial Risk Indicator identifies high-risk numbers daily, aiding UPI platforms in preventing fraudulent transactions. The RBI has directed banks to incorporate the FRI, reducing fraud response times. Additionally, AI systems are being used to detect and interact with fraudulent accounts on social media, gathering crucial information.from Latest Business News Today: Stock Markets, Financial News, India Business & World Business News https://ift.tt/Re8fmhx
The Reserve Bank of India's MPC commenced a three-day meeting amidst expectations of a rate pause, influenced by US tariffs and domestic economic factors. While economists are divided, industry voices advocate for a 25 bps rate cut to support MSMEs facing export headwinds. The decision hinges on inflation data, oil prices, and the impact of previous rate cuts.
Following three consecutive rate cuts, the Reserve Bank of India is expected to maintain the repo rate at 5.5 per cent in its upcoming monetary policy review. While inflation remains below the RBI’s target, experts believe the central bank may hold off on further easing to assess the full impact of earlier cuts, considering resilient growth.
Punjab National Bank (PNB) is confident in exceeding its business target for the current fiscal year, aiming for Rs 30 lakh crore by March 2026. With a strong corporate loan pipeline and focus on MSME and retail lending, PNB anticipates significant growth. The bank prioritizes low-cost CASA deposits and maintains a healthy capital adequacy ratio to support its expansion.
Last week witnessed a significant downturn for most of the top 10 highest-valued firms, with a collective market value reduction of Rs 1.35 lakh crore, influenced by a decrease in the BSE benchmark. TCS and Bharti Airtel experienced the most substantial losses, while Reliance Industries, HDFC Bank, and Hindustan Unilever bucked the trend, recording gains in their market capitalization.
