RBI
Economy National

RBI Warns Banks Over Tech Concentration Risks

By BPN News Desk
The Reserve Bank of India has warned that growing dependence on a small group of cloud, technology and artificial intelligence providers could create systemic risks for India’s financial sector, allowing a disruption at one vendor to affect multiple institutions simultaneously. RBI Flags Common Technology Dependencies RBI Deputy Governor Rohit Jain said banks and financial
Image Credit: https://www.pmindia.gov.in/
Economy National

PM Modi Hails India’s 7.8% GDP Growth

By BPN News Desk
Prime Minister Narendra Modi has hailed India’s 7.8% GDP growth in the April-June quarter of FY 2026-27, calling the performance a major achievement amid oil price shocks, supply-chain disruptions and global uncertainty. He also criticised pessimistic assessments of the economy, saying the latest figures had countered what he described as a “jhooth ki goonj”. India […]
RBI
Economy National

RBI Steps In as Oil Pressure Hits Rupee

By BPN News Desk
The Reserve Bank of India is believed to have intervened in the foreign exchange market for an eighth consecutive trading session as rising crude oil prices continued to put pressure on the rupee. The Indian currency weakened to around ₹95.68 against the US dollar, its lowest level in nearly three weeks. RBI Intervention Supports Indian […]
income tax
Economy National

Foreign Assets Disclosure Window Opens August 16

By BPN News Desk
The Income Tax Department has notified detailed rules for the Foreign Assets of Small Taxpayers Disclosure Scheme, 2026, opening a one-time compliance window from August 16. Eligible taxpayers can voluntarily disclose previously unreported overseas assets or foreign income and obtain protection from harsher penalties and prosecution after making the prescribed payment.