RBI

This move marks a significant development for the Jaipur-based bank, which will now be able to offer a broader spectrum of financial services under fewer restrictions.

With this licence, EximPe intends to create a compliant and seamless infrastructure for international pay-ins and pay-outs across sectors like digital services, e-commerce, and B2B goods trade.

Through localised services such as PayPal Checkout, Invoicing, and No-Code Checkout tools, PayPal aims to simplify global selling for India's small businesses and freelancers.

Sumant Kathpalia stepped down as MD & CEO effective close of business hours on April 29, bringing an end to his tenure at the bank. In response, the bank has taken swift action to maintain continuity and governance stability.

Resilient Payments will carry its online business under brand name 'BharatPe X'.

Governor Malhotra noted that "a dent on global growth due to trade friction will also impede domestic growth; higher tariffs will have a negative impact on net exports." He added that global economic policies are shifting rapidly, with trade-tariff-related uncertainties clouding the outlook and posing new risks to both growth and inflation

The merger is set to enhance BlackSoil's capabilities in supporting startups, MSMEs, and impact-driven businesses by expanding financial solutions for underserved enterprises requiring smaller credit sizes.

The trouble stems from an internal review that uncovered errors in how the bank accounted for hedging costs linked to past forex transactions.

As per the report, continued fiscal discipline will be crucial in rebuilding financial buffers, easing debt service, and ensuring macroeconomic stability.

Foreign currency assets (FCA), which constitute the largest share of the reserves, recorded a sharp fall of $4.515 billion, bringing the total down to $539.591 billion

The move is expected to boost sectors such as real estate, which depends heavily on loans for its consumers to make a purchase.

RBI will also introduce ".fin.in", a dedicated domain for non-banking financial companies (NBFCs) and other financial institutions

UPI's contribution to digital payment volumes skyrocketed from 34 per cent in 2019 to 83 per cent in 2024, reflecting a compound annual growth rate (CAGR) of 74 per cent over five years

It is expected to significantly reduce fraud cases, said RBI Governor Shaktikanta Das

The Indian cloud services market, valued at USD 8.3 billion in 2023 and projected to grow to USD 24.2 billion by 2028, is currently dominated by international providers. With this initiative, the RBI seeks to boost domestic players and enhance India's digital sovereignty.

The committee unanimously agreed to shift to a 'neutral' stance, with a clear focus on achieving sustained alignment of inflation with the target, while continuing to support economic growth

Year-over-year (YoY), credit grew by 13.4 per cent, a significant reduction from the 19.8 per cent growth recorded in the same period last year.

It is only the SRO that can inculcate such a culture, said Rabi Sankar

This was the 50th meeting of the Monetary Policy Committee which kept the repo rate unchanged while making new announcements

As part of the ongoing phase IV, CBDC is expected to play a big part in cross-border payments

The company's International Payment Gateway allows merchants to accept payments from 180 countries in 30 currencies through various methods, including cards, PayPal, ACH, and local payment systems.