Finance Current Affairs

In a significant development, EximPe has obtained in-principle approval from the Reserve Bank of India (RBI) to operate as a Payment Aggregator – Cross Border (PA-CB). This approval is set to enhance cross-border digital transactions and e-commerce trade, specifically within the India-Asia region. Background The PA-CB framework by RBI regulates payment aggregators facilitating cross-border transactions, … Read more

The National Payments Corporation of India (NPCI) International is set to launch an expanded UPI-PayNow service, strengthening cross-border remittance connections between India and Singapore. The addition of 13 new Indian banks brings the total participating banks to 19, offering increased convenience and accessibility for users. Background and Objective Recent Developments and Expansion Key Features and … Read more

Starting July 16, 2025, Indian government payments over ₹75 crore must be processed through the RBI’s e-Kuber system for greater transparency and efficiency in fund management. Overview Effective July 16, 2025, all Indian government payments exceeding ₹75 crore will be mandated to utilize the RBI’s e-Kuber system. The initiative aims to enhance transparency, accelerate processing, … Read more

Trinidad and Tobago recently became the eighth country and the first in the Caribbean to offer UPI (Unified Payments Interface) services to Indian travelers. This initiative allows Indian visitors to make direct payments in rupees using their mobile UPI apps. The announcement was made during Prime Minister Narendra Modi’s visit to the country. What Is … Read more

Indian Bank and Punjab National Bank (PNB) have recently announced the removal of penalties for not maintaining a minimum balance in savings accounts. These changes aim to enhance banking accessibility, particularly for individuals from rural or low-income backgrounds. Big Relief for Account Holders Lower Interest Rates for Borrowers Indian Bank has not only waived balance … Read more

Mashreq, a leading bank from the United Arab Emirates (UAE), has been granted in-principle approval to establish a branch in GIFT City, Gujarat, India, becoming the inaugural UAE-based bank to venture into India’s international financial center. This advancement marks a significant stride in fortifying financial relations between India and the UAE and bolstering global banking … Read more

A recent report by SBI Research reveals that the State Bank of India (SBI) made a significant impact on the global economy, contributing $44 billion in the financial year FY25. This contribution highlights SBI’s pivotal role in both India’s economic growth and the overall world economy. India’s Growing Influence in Global Economy In FY25, the … Read more

Learn about the Financial Fraud Risk Indicator (FRI) and how it’s revolutionizing fraud detection in Indian banking. What is the Financial Fraud Risk Indicator (FRI)? How Banks Will Use FRI Real-Time Protection Using API A Big Step for Safer Digital Banking Key Takeaways for Competitive Exams

The State Bank of India (SBI) has inaugurated new Global Trade Finance Centres in Kolkata and Hyderabad, marking a significant milestone in the bank’s journey. These centers aim to revolutionize international trade operations and enhance customer experience by leveraging digital technologies. Empowering Trade with SBI’s Global Centers: Digital Transformation for Enhanced Trade: A Glimpse into … Read more