vijay mallaya
Business Finance

SBI Says Vijay Mallya Still Owes ₹8,752 Crore

By BPN News Desk
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
HDFC
Business Finance

Anup Bagchi Named HDFC Bank MD and CEO

By BPN News Desk
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 […]
UPI
Business Finance

RBI Backs 0.4% MDR on Large UPI Payments

By BPN News Desk
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 […]
foreign investment
Business Finance

NRIs Pour $127 Billion Into RBI Dollar Scheme

By BPN News Desk
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
HDFC
Business Finance

HDFC Bank CEO Sashidhar Jagdishan to Step Down

By BPN News Desk
HDFC Bank Managing Director and Chief Executive Officer Sashidhar Jagdishan will step down when his current term ends on October 26, 2026, after deciding not to seek reappointment. The move begins a major leadership transition at India’s largest private-sector lender. Sashidhar Jagdishan to Leave HDFC Bank in October Jagdishan had been widely expected to seek […]
RBI
Business Finance

RBI Eases Dollar Swap Rules for Banks

By BPN News Desk
The Reserve Bank of India has given banks greater flexibility to swap dollars raised from non-resident Indian deposits, allowing large transactions outside their designated weekly window. The move comes ahead of the August 31 deadline for a special deposit scheme that has attracted more than $65 billion. RBI Eases Dollar-Rupee Swap Rules for Banks Banks […]