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RBI Drains Nearly $20 Billion From Surplus Liquidity

By Uniquetimesorg September 29, 2026 0

The Reserve Bank of India has absorbed an estimated $20 billion in excess rupee liquidity from the banking system through foreign exchange operations, according to two bankers. The RBI has used dollar-rupee sell-buy swaps, spot dollar sales, bond sales and variable-rate reverse repos to manage surplus funds. The measures, combined with tax outflows, have sharply […]Continue Reading

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RBI Net Bond Sales Cross ₹1 Trillion

By Uniquetimesorg September 28, 2026 0

India’s central bank has net sold government bonds worth ₹1 trillion during the current financial year, its largest annual net bond sale in more than a decade, according to treasury officials. Market participants expect the RBI to sell another ₹1 trillion by December. The Reserve Bank of India is using bond sales to withdraw excess […]Continue Reading

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India Seeks Review of GST on UPI Merchant Fees

By Uniquetimesorg September 25, 2026 0

The Indian government hopes the GST Council will review the 18% Goods and Services Tax imposed on merchant discount rates for UPI transactions, according to a government source. The GST Council is scheduled to meet on October 7, though it is unclear whether the issue will be discussed at that meeting. Earlier this month, India’s […]Continue Reading

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India’s UPI to Introduce Fees on Large Merchant Payments

By Uniquetimesorg September 16, 2026 0

India’s Unified Payments Interface (UPI) will end its more than six-year zero-fee era for certain large merchant transactions from October 15, 2026. Under new rules announced by the National Payments Corporation of India (NPCI), a 0.4% Merchant Discount Rate (MDR) will apply to merchant transactions above ₹2,000. The charge cannot be passed on to consumers. […]Continue Reading

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Bank of India Mobilises $2.4 Billion Through FCNR(B) Deposits

By Uniquetimesorg September 11, 2026 0

Bank of India has mobilised nearly $2.4 billion through Foreign Currency Non-Resident (Bank), or FCNR(B), deposits under the Reserve Bank of India’s concessional swap window. The state-owned lender plans to use the relatively cheaper funds to retire high-cost deposits and borrowings, while deploying a portion into higher-yielding assets, according to a source. The bank Continue Reading

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ICICI Bank Mobilises $17.9 Billion Through RBI Foreign Currency Deposit Scheme

By Uniquetimesorg September 2, 2026 0

India’s ICICI Bank has mobilised around $17.88 billion through the Reserve Bank of India’s foreign currency non-resident deposit scheme as of August 31, 2026. The initiative is aimed at attracting overseas foreign-currency inflows and strengthening India’s foreign exchange position. Of the deposits raised, about $9 billion has been used for loans provided Continue Reading

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India to Launch Unified Financial KYC

By Uniquetimesorg July 25, 2026 0

India will introduce a common customer identification system, Central Know-Your-Customer 2.0 (CKYC), for banks and insurance companies from August, with mutual funds and brokerages expected to join later this year. The new system will allow customers to access multiple financial services without repeatedly submitting identity documents, requiring only their consent to Continue Reading

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India Set for Unified Digital KYC Rollout

By Uniquetimesorg July 24, 2026 0

India is moving closer to a unified digital Know Your Customer (KYC) system through the Central KYC (CKYC) framework, aimed at simplifying customer verification across banking, mutual funds, and insurance. The new system will introduce an “accuracy score” that helps institutions assess the reliability of customer data while enabling faster and more secure Continue Reading

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Deutsche Bank Sells India Retail Banking Business to Kotak Mahindra

By Uniquetimesorg June 30, 2026 0

Deutsche Bank has agreed to sell its retail banking and wealth management business in India to Kotak Mahindra Bank as part of its strategy to streamline operations and focus on core businesses. Kotak Mahindra said the acquisition is valued at approximately $30 million and will strengthen its presence in India’s retail and wealth management segments. […]Continue Reading

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RBI Issues Final Rules to Expand India’s Credit Derivatives Market

By Uniquetimesorg June 26, 2026 0

The Reserve Bank of India (RBI) has issued its final guidelines to expand the country’s credit derivatives market, following the government’s proposal to deepen financial markets in this year’s Union Budget. The new rules take immediate effect and are aimed at improving risk management tools for market participants. Under the revised framework, resident Continue Reading