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
The Reserve Bank of India (RBI) will settle a $5 billion dollar-rupee swap maturing on August 4, 2025, without opting for a rollover. This move reflects the central bank’s assessment that liquidity in the Indian banking system is more than sufficient and there is no immediate need to inject additional funds. What is a Dollar-Rupee … Read more
India’s Unified Payments Interface (UPI) reached an unprecedented high on August 2, 2025, processing 707 million transactions in a single day. The figure, confirmed by the National Payments Corporation of India (NPCI), marks a historic moment for the country’s digital payments ecosystem. Over the past few years, UPI has transformed the way Indians make payments—becoming … Read more
The 56th meeting of the Monetary Policy Committee (MPC) was held from August 4–6, 2025, under the chairmanship of Shri Sanjay Malhotra, Governor of the Reserve Bank of India (RBI). Other members present were Dr. Nagesh Kumar, Shri Saugata Bhattacharya, Prof. Ram Singh, Dr. Poonam Gupta, and Dr. Rajiv Ranjan. Policy Decision The MPC decided … Read more
The Central Government has officially awarded the much-anticipated PAN 2.0 project of the Income Tax Department to LTI Mindtree Ltd for a contract value of ₹792 crore.According to people familiar with the development, the project is scheduled to go live within 18 months, marking a major overhaul in how Permanent Account Number (PAN) and Tax … Read more
Deloitte India has projected that the country’s economy will grow between 6.4% and 6.7% in FY26, supported by resilient domestic demand, easing inflation, and a strategic push in global trade diplomacy.However, it has also cautioned that geopolitical uncertainties and trade risks could influence the economic outlook, making it essential for India to closely monitor its … Read more
The Reserve Bank of India (RBI) has been ramping up its efforts to curb financial fraud in the country. A significant move in this direction is the introduction of the MuleHunter platform, an artificial intelligence (AI) and machine learning (ML) based fraud detection system developed by the RBI Innovation Hub.Over the next two months, at … Read more
Fitch Ratings has slightly reduced India’s GDP growth forecast for the fiscal year ending March 2026 to 6.3%, down from its earlier projection of 6.4%. The rating agency believes that, despite global headwinds, credit metrics for Fitch-rated Indian companies are likely to improve in FY26. This optimism is driven by wider EBITDA margins, which could … Read more