RBI Raises Repo Rate to 5.50% in First Hike Since 2023

By BPN News Desk October 7, 2026

Business Finance

The Reserve Bank of India has raised its benchmark repo rate by 25 basis points to 5.50%, delivering its first rate hike since February 2023 as policymakers respond to rising inflation and resilient economic growth. RBI Raises Repo Rate to 5.50% The six-member Monetary Policy Committee voted

Business Finance

GST Council Eyes Decriminalisation, GCC Relief

By BPN News Desk October 6, 2026

The GST Council is set to consider a wide-ranging package of process reforms at its October 8 meeting, including possible decriminalisation of GST offences, relief for global capability centres and simpler rules for refunds, registration and input tax credit. GST Council May Review Arrest Powers One of the major proposals under consideration is removal of […]

Business Finance

HDFC Bank Rises After Anup Bagchi CEO Appointment

By BPN News Desk October 5, 2026

HDFC Bank shares rose as much as 1.8% on Monday after investors welcomed the appointment of Anup Bagchi as the lender’s next chief executive, ending weeks of uncertainty over its leadership transition. HDFC Bank Shares Rise After CEO Appointment The stock climbed as much as 1.8% in early trading before paring some gains. HDFC Bank […]

Business Finance

Markets Bet on RBI Rate Hike as Inflation Rises

By BPN News Desk October 5, 2026

Markets are increasingly pricing in an interest rate hike by the Reserve Bank of India this week as inflation broadens beyond food and fuel, economic growth remains strong and major global central banks adopt a tighter monetary stance. RBI Rate Hike Bets Rise Ahead of MPC Decision Nearly 60% of economists expect the RBI to […]

Business Finance

RBI Rate Hike Expectations Rise Ahead of MPC Meet

By BPN News Desk October 3, 2026

The Reserve Bank of India’s Monetary Policy Committee is set to meet from October 5 to 7 amid growing expectations that persistent inflation pressures, elevated energy costs and strong domestic growth could prompt a modest increase in the repo rate. RBI Repo Rate Hike Expectations Rise The repo rate currently stands at 5.25%, where the […]

Business Finance

SBI Says Vijay Mallya Still Owes ₹8,752 Crore

By BPN News Desk October 3, 2026

A State Bank of India-led consortium has told the Bombay High Court that fugitive businessman Vijay Mallya still owes nearly ₹8,752 crore, despite lenders having recovered more than ₹10,270 crore through asset sales and other recovery proceedings. SBI-Led Banks Claim ₹8,752 Crore Still Recoverable According to the lenders’ affidavit, ₹8,751.86 crore remained recoverable

Business Finance

Anup Bagchi Named HDFC Bank MD and CEO

By BPN News Desk October 2, 2026

HDFC Bank has appointed Anup Bagchi as its next Managing Director and Chief Executive Officer for a three-year term beginning October 27, 2026, following approval from the Reserve Bank of India and the bank’s board. Anup Bagchi to Lead HDFC Bank From October 27 Bagchi will succeed Sashidhar Jagdishan, whose term ends on October 26 […]

Business Finance

Nirmala Sitharaman Clarifies UPI MDR Charge Rules

By BPN News Desk September 25, 2026

Finance Minister Nirmala Sitharaman has clarified that the new Merchant Discount Rate on specified UPI payments above ₹2,000 is not a government tax and cannot be passed on to customers. The 0.4% charge will instead be borne within the merchant and digital payments ecosystem. UPI MDR Money Will Not Go to Government Sitharaman said the […]

Business Finance

RBI Backs 0.4% MDR on Large UPI Payments

By BPN News Desk September 16, 2026

The Reserve Bank of India has backed the introduction of a 0.4% Merchant Discount Rate on larger UPI merchant payments, saying the change will strengthen the long-term sustainability of India’s digital payments ecosystem. The revised framework will take effect from October 15, 2026. UPI Payments Above ₹2,000 Face 0.4% MDR Under the new structure, person-to-merchant […]

Business Finance

NRIs Pour $127 Billion Into RBI Dollar Scheme

By BPN News Desk September 3, 2026

India’s special dollar-rupee swap facility has attracted about $136 billion in foreign currency inflows, with non-resident Indian deposits contributing $127 billion, according to provisional figures. The mobilisation has significantly exceeded expectations and strengthened the Reserve Bank of India’s foreign-exchange buffers. NRI Deposits Bring $127 Billion Into India