In a significant move to modernise India’s subsidy delivery system, the Government of India will launch a Central Bank Digital Currency (CBDC)-based food subsidy distribution pilot under the Pradhan Mantri Garib Kalyan Anna Yojana (PMGKAY) in Puducherry on February 26, 2026. The initiative aims to enhance transparency, efficiency and accountability…
Tag: RBI
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RBI Restores Default Loss Guarantees for NBFCs
Mumbai: In a significant relief to non-banking finance companies (NBFCs), the Reserve Bank of India (RBI) has restored the recognition of default loss guarantees (DLGs) in loan provisioning, reversing its earlier restrictive stance. The move is expected to strengthen digital lending partnerships and support broader credit expansion. Under the revised…
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Amit Shah Unveils Major Push to Combat Cyber-Enabled Frauds
Union Home Minister and Minister of Cooperation Shri Amit Shah on Tuesday underscored the need for coordinated national action to dismantle cyber-enabled fraud networks, as India rapidly advances toward a digitally empowered society. Addressing the National Conference on “Tackling Cyber-Enabled Frauds & Dismantling the Ecosystem” in New Delhi, he said…
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RBI Launches Financial Literacy Week 2026 on Safe Banking
The Reserve Bank of India (RBI) has launched Financial Literacy Week 2026 (FLW-2026), a nationwide awareness campaign aimed at strengthening safe banking practices among citizens, with a sharp focus on Know Your Customer (KYC) norms. The initiative underscores KYC as the first and most critical step toward protecting individuals from…
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India RBI Signs MoU with ESMA to Recognize CCPs
The Reserve Bank of India (RBI) has formalized a Memorandum of Understanding (MoU) with the European Securities and Markets Authority (ESMA) to facilitate the recognition of the Clearing Corporation of India Ltd. (CCIL) and other RBI-regulated Central Counterparties (CCPs). The agreement was signed during the visit of the President of…
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India Bond Yields Spike Ahead of ₹30 Trillion Debt Wave
Indian government bond yields have surged across maturities as investors grow increasingly wary of a massive debt issuance expected in the next financial year. Market participants estimate that combined borrowing by the Centre and states could touch an unprecedented ₹30 trillion, a development that has unsettled fixed-income markets and pushed…
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Govt Mulls Hybrid ATMs for Small Notes Amid UPI Push
The Union government is exploring the introduction of hybrid automated teller machines capable of dispensing small-denomination currency notes, even as digital payments powered by the Unified Payments Interface (UPI) continue to expand rapidly across India. The move aims to address growing public frustration over the shortage of ₹10, ₹20 and…
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Why RBI Wants BRICS to Use Digital Currencies for Trade
The Reserve Bank of India (RBI) is encouraging the Indian government to promote the use of central bank digital currencies (CBDCs) for cross-border payments among BRICS nations, according to recent media reports. The move reflects India’s growing interest in reshaping global payment systems, reducing transaction costs, and limiting over-dependence on…
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RBI Pushes BRICS Digital Currency for Easier Payments
India’s central bank has proposed a landmark initiative to link the digital currencies of BRICS nations, a move that could reshape cross-border trade and tourism payments while gradually reducing reliance on the US dollar. The proposal, recommended by the Reserve Bank of India (RBI), is expected to be placed on…
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DoT Digital Platform Blocks ₹660 Cr Cyber Frauds
The Department of Telecommunications (DoT) has successfully onboarded over 1000 banks, financial institutions, and Third-Party Application Providers (TPAPs) onto its Digital Intelligence Platform (DIP), leveraging the Financial Fraud Risk Indicator (FRI) to prevent cyber fraud losses amounting to ₹660 crore in just six months since its rollout on 22 May…