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The Supreme Court has transferred the nationwide ‘digital arrest’ scam investigation to the CBI, directing it to probe all related cases. The court sought assistance from RBI and DoT on fraud detection, SIM regulation and AI-based monitoring while urging swift cybercrime infrastructure upgrades

Indian banking is transforming rapidly as digital innovation replaces traditional services — the winners will be banks that balance trust with technology

The Hyderabad Police have issued an advisory warning citizens against ‘digital arrest’ scams. Fraudsters posing as police or government officials extort money by threatening victims with fake cases. Officials urged the public to stay alert and report such incidents immediately.

According to RBI data, Rs 2,000 denomination banknotes worth Rs 5,817 crore remain in circulation. Since their withdrawal announcement in May 2023, 98.37 per cent of the notes have been returned. The Rs 2,000 notes continue to be legal tender, the RBI clarified.

Cobrapost has alleged that Anil Ambani’s Reliance Group diverted over Rs 41,900 crore through shell entities and offshore firms. The conglomerate dismissed the charges as an agenda-driven campaign aimed at manipulating stock prices and acquiring its assets cheaply

The Reserve Bank of India has proposed allowing banks to finance Indian companies for domestic or overseas acquisitions. The draft sets eligibility criteria, financing limits, and safeguards, aiming to promote strategic investments while ensuring responsible lending practices

From November 1, 2025, bank customers can nominate up to four persons in their accounts, either simultaneously or successively. The Banking Laws (Amendment) Act, 2025, aims to ensure transparency, uniformity, and efficient claim settlement across all banks

The rupee gained 21 paise to 87.75 against the US dollar on Friday, supported by foreign fund inflows, a softer greenback, and likely RBI intervention. Analysts expect further appreciation as investor sentiment improves and crude prices remain low.

RBI has conceptualised a Unified Market Interface and Unified Lending Interface to enhance fintech services, said Sanjay Malhotra. He urged inclusive, user-friendly designs, emphasised AI and digital infrastructure, and flagged growing digital fraud risks in India’s fintech ecosystem

The Reserve Bank of India has proposed draft rules to ease foreign currency borrowings for Indian companies. The framework expands eligible borrowers and lenders, links limits to financial strength, simplifies regulations, and allows market-determined interest rates for external commercial borrowings

The Reserve Bank of India has eased norms for small business loans and working capital lending to jewellers, allowing banks to adjust spreads more frequently and expand credit access. Feedback on these measures is open until October 20

ICICI Bank will implement same-day cheque clearance from October 4, aligning with RBI’s new settlement framework. Customers depositing cheques at branches will see faster processing, with Positive Pay mandatory for high-value cheques to prevent fraud and ensure smooth dispute resolution

Japanese lender SMBC has acquired an additional 4.22 per cent stake in Yes Bank, raising its holding to 24.22 per cent and becoming the largest shareholder. The move coincides with fresh AA- ratings for Yes Bank, signalling stronger governance, capital position, and performance

The RBI has cancelled the certificate of registration of Datta Finance and Trading Pvt Ltd for violating guidelines on outsourcing core functions in digital lending. The company will no longer operate as an NBFC following irregular lending practices

Private colleges in Telangana urged the government to clear Rs 8,000 crore fee dues and adopt a Trust Bank System, proposing a self-sustainable reimbursement model to ease financial burden on the State

The Reserve Bank of India has approved the reappointment of former Deputy Governor R. Gandhi as Yes Bank’s part-time chairman from September 2025 to May 2027. Gandhi, a veteran central banker with 37 years’ experience, previously served in RBI, SEBI, and IDRBT

The government has appointed former RBI Governor Urjit Patel as India’s Executive Director at the International Monetary Fund for three years, replacing KV Subramanian. Patel, who earlier served at the AIIB and IMF, resigned as RBI Governor in 2018

RBI Governor Sanjay Malhotra stressed that the central bank remains focused on growth despite tariff and geopolitical challenges. He urged banks and corporates to revive investments, assured sector-specific support, and confirmed upcoming measures to expand credit and enhance financial inclusion

Nearly all Rs 2,000 banknotes have returned to the RBI, with only Rs 6,017 crore—just 1.69 per cent of the total value—still in circulation as of July 31, Finance Minister Pankaj Chaudhary informed Parliament. The withdrawal began in May 2023

The Reserve Bank of India could consider further repo rate cuts if GDP growth underperforms and the US Federal Reserve adopts aggressive easing. HSBC Mutual Fund says liquidity will stay ample, with corporate bonds offering attractive spreads