Finance

RBI Governor Urges Banks to Streamline KYC Processes and Enhance Customer Service

By Editor - News Desk March 19, 2025

Reserve Bank of India (RBI) Governor Sanjay Malhotra has urged banks and non-banking financial companies (NBFCs) to cease the practice of repeatedly requesting ‘Know Your Customer’ (KYC) documents from customers. Speaking at the annual conference of RBI Ombudsmen, Malhotra emphasized that once a customer submits KYC documents to any financial institution

Finance

NPCI to Phase Out ‘Collect Call’ Transactions to Reduce UPI Fraud

By BPN News Desk March 18, 2025

The National Payments Corporation of India (NPCI) is set to phase out the ‘collect call’ feature in Unified Payments Interface (UPI) transactions to curb rising fraud cases. The feature, which allows merchants to send payment requests to customers for approval, has been widely exploited by scammers tricking users into authorizing unintended payments. To enhance

Industry

India Plans Measures to Strengthen Steel Industry Amid U.S. Tariffs

By BPN News Desk March 18, 2025

India is formulating strategies to bolster its steel industry in response to the recent 25% tariffs imposed by the United States on steel imports. The government’s initiatives aim to mitigate potential adverse effects on domestic steel producers and sustain export growth. The Production-Linked Incentive (PLI) scheme is under consideration to enhance domestic steel

Finance

RBI’s ₹1.9 Lakh Crore Liquidity Infusion Expected to Lower Lending Rates

By BPN News Desk March 18, 2025

The Reserve Bank of India (RBI) has implemented significant liquidity infusion measures aimed at stimulating economic growth and potentially leading to a reduction in lending rates sooner than anticipated. These measures are designed to alleviate liquidity constraints in the banking system, thereby enabling banks to lower borrowing costs for consumers and businesses. To

Business Markets

India’s Stock Market Valuations Remain Elevated Despite Global Adjustments

By BPN News Desk March 17, 2025

India’s stock market has narrowed its valuation gap with global markets, yet it remains expensive compared to other emerging markets and historical averages. While this reflects strong economic prospects, it also raises concerns about potential overvaluation and sustainability of current market levels. Current Market Valuations As of March 2025, India’s

Business Industry

TCS and Infosys Well-Positioned Amid US Tariff Challenges

By BPN News Desk March 17, 2025

Indian IT giants TCS and Infosys are expected to withstand potential cost increases from US tariff policies and stricter immigration rules, according to industry assessments. While the business services sector is not directly impacted by tariffs, evolving US trade and immigration policies could affect companies relying on foreign labor. Impact of US Trade Policies on […]

Business Industry

L&T to Invest ₹3,600 Crore in Three New Data Centres

By BPN News Desk March 17, 2025

Larsen & Toubro (L&T) has announced a ₹3,600 crore investment to establish three new data centres in India, a move aimed at expanding its digital infrastructure and catering to the country’s growing data storage demands. With this expansion, L&T’s data centre capacity will increase from 32 MW to 150 MW by 2027, strengthening its presence […]

Business Industry

Quick Commerce Sparks 52% Drop in Retail Sales of Essentials

By BPN News Desk March 17, 2025

The rise of quick commerce services has significantly impacted traditional retail businesses, with urban store owners reporting a 52% decline in the sales of essential goods. The shift in consumer behavior toward ultra-fast deliveries has led to reduced foot traffic in physical stores, affecting multiple product categories. Decline in Essential Goods Sales Retailers have

Business Finance

Textile Firms Under GST Lens for Misclassifying Services

By BPN News Desk March 17, 2025

The Central Goods and Services Tax (CGST) department has launched an investigation into multiple textile manufacturing companies across India over suspected misclassification of services to avoid higher tax rates. The inquiry focuses on firms allegedly paying lower GST rates under incorrect tax classifications, resulting in substantial revenue losses. Misclassification of

Business Trade

India Seeks Reciprocity in EU Free Trade Agreement Negotiations

By BPN News Desk March 17, 2025

India is advocating for reciprocal trade concessions in its ongoing Free Trade Agreement (FTA) negotiations with the European Union (EU), particularly concerning non-tariff barriers that limit Indian exports. The government aims to ensure that trade benefits are balanced, especially in sectors like medical devices, where regulatory challenges have hindered market access.