In a significant update for digital banking customers, the State Bank of India (SBI) has revised its IMPS (Immediate Payment Service) charges. Starting August 15, 2025, SBI will begin imposing nominal fees on online IMPS transactions above ₹25,000. This move will directly impact millions of customers who rely on internet banking, mobile banking, or the … Read more
The Reserve Bank of India (RBI) has announced a significant policy change allowing foreign traders’ surplus rupee funds held in Special Rupee Vostro Accounts (SRVA) to be invested in Government Securities (G-Secs) and Treasury Bills (T-Bills). The decision aims to enhance the attractiveness of international trade settlement in Indian Rupees (INR) and provide partner countries … Read more
In a significant push to boost infrastructure and industrial growth, the Cabinet Committee on Economic Affairs (CCEA), chaired by Prime Minister Narendra Modi, has approved investment proposals worth over ₹18,500 crore. These include major projects in semiconductor manufacturing, Metro rail expansion in Lucknow, and a hydroelectric plant in Arunachal Pradesh. Breakdown of Major Approvals 1. … Read more
In a positive development for the Indian economy, ratings agency Crisil has projected that headline inflation—which measures the rise in prices of all goods and services in the Consumer Price Index (CPI)—will average 3.5% in FY26, a sharp drop from 4.6% in FY25. This decline is expected to be fueled by robust agricultural output, moderating … Read more
In a significant step towards financial inclusion and customer convenience, the Reserve Bank of India (RBI) has announced three major measures aimed at making banking services more accessible, transparent, and user-friendly. The announcement was made on Wednesday, following the Monetary Policy Committee (MPC) meeting, with RBI Governor Sanjay Malhotra highlighting that the initiatives are designed … Read more
India’s net direct tax collection for the financial year 2025–26 has dropped by 3.95%, reaching ₹6.64 lakh crore compared to ₹6.91 lakh crore collected during the same period in FY25. The decline, according to the government’s data released on August 12, 2025, is primarily due to a significant rise in refunds issued to taxpayers. Understanding … Read more
India’s retail inflation dropped sharply to 1.55% in July 2025, the lowest year-on-year rate since June 2017. This is also the first time in over six years that inflation has fallen below the Reserve Bank of India’s (RBI) 2%–6% tolerance band. The July figure marks a significant decline from 3.16% in April 2025 and 3.54% … Read more
The banking system in India is changing, especially regarding the minimum balance needed for savings accounts. ICICI Bank has announced that starting August 1, 2025, new savings accounts will require a higher Minimum Average Monthly Balance (MAMB). ICICI Bank’s Strong Move: The New Minimum Balance Rules Starting August 1, 2025, ICICI Bank has implemented higher minimum balance rules for new savings … Read more
Consumer confidence in India saw a notable improvement in July across both rural and urban regions, signaling a more optimistic outlook on the economy. This upswing is largely credited to a decline in retail inflation and more favourable interest rates, which together have enhanced household sentiment. In rural areas, the Current Situation Index (CSI)—a measure … Read more
Global investment bank Goldman Sachs has lowered its GDP growth projections for India, citing increasing trade tensions with the United States following President Donald Trump’s decision to impose a 25% tariff on Indian exports. The bank warned that the broader issue may not be the tariffs themselves, but the policy uncertainty surrounding them—something that could … Read more