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The hidden economics of international spending

The expansion of Indian international spending is rapidly increasing annually. The hidden costs of forex mark-up on credit cards can significantly inflate overseas purchases. Opting for zero forex mark-up cards provides considerable savings for those who travel often. As consumers assess credit cards based on avoided costs and enhanced experiences, grasping these transaction economics becomes essential for more informed global spending. from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/s4Yi3DX via IFTTT
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Allahabad HC orders banks to freeze only disputed amount in cybercrime cases

The Allahabad High Court has ruled against the imposition of blanket debit freezes in cybercrime cases, emphasizing that such measures must be proportionate to the suspected proceeds of crime. Banks are directed to unfreeze accounts beyond the disputed transaction sum, and investigators are now required to furnish specific details when seeking a lien. This ensures that enforcement actions remain just and within legal frameworks. from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/1qfBMhc via IFTTT
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Parliamentary panel seeks penalties for banks hosting multiple mule accounts

A parliamentary committee suggests penalizing banks for mule accounts and KYC lapses. It also highlighted delays in merchant discount rates impacting payment providers' investments. The government is exploring a self-reliant revenue model for UPI's financial sustainability. Amendments allow charges on UPI and other digital payment modes. This aims to address a significant funding gap impacting infrastructure development. from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/SDh7ALE via IFTTT
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Bank of America's $1.9 billion Jio bet shows global banks want a slice of India's retail lending market

Bank of America is set to invest a substantial $1.9 billion into Jio Financial's Jio Credit, marking a significant show of confidence in India's booming retail loan sector. This collaboration merges Jio's innovative digital capabilities with the seasoned financial knowledge of Bank of America, enabling a strategic expansion in the rapidly growing Indian economy. Regulatory approvals will be required to finalize this impactful venture. from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/0HgvX4T via IFTTT
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Indian bank deposits jump by $115 billion over three fortnights to record high

Indian banking system deposits have reached a record high after recent significant growth. This surge is primarily supported by dollar inflows into banks from a central bank scheme. The Reserve Bank of India's foreign-currency non-resident scheme attracted substantial foreign currency deposits. These inflows have helped boost overall banking system deposits to a new record level. Credit conditions are expected to remain strong as deposit growth continues. from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/NV8z5Jc via IFTTT
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Banks to reveal loan rates every month in RBI's disclosure tweak

The Reserve Bank of India has proposed new lending rate guidelines. Regulated entities must declare lending rates monthly and reset floating loans quarterly. Total charges for microfinance and small loans will be capped by the regulator. These new norms aim to harmonize interest rate determination methods. Final guidelines will take effect from April 1, 2027. from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/eBIA5QS via IFTTT
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AI to reshape banking, governance must evolve to curb cyber risk: BCG's Hardik Shah

Artificial intelligence is set to reshape India's banking sector over the next decade, but banks, regulators and the government will need to strengthen governance, cybersecurity capabilities and shared infrastructure to ensure responsible and secure adoption of the technology, said Hardik Shah, Managing Director and Partner at Boston Consulting Group (BCG). from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/hoOGcga via IFTTT
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