Economy National

India’s Subprime Lending Surge Raises Concerns of Debt Crisis

By BPN News Desk April 4, 2025

India’s microfinance and subprime lending sector has experienced explosive growth, with subprime loans increasing by 2,100% in recent years. What was once positioned as a tool to drive financial inclusion has now ballooned into a $45 billion industry, primarily offering small, unsecured loans to low-income borrowers lacking access to formal banking. This rapid expansion,

Economy National

UPI Transactions Hit Record ₹24.77 Lakh Crore in March 2025

By BPN News Desk April 2, 2025

Unified Payments Interface (UPI) transactions in India soared to a record ₹24.77 lakh crore in March 2025, signaling the continued acceleration of digital payment adoption across the country. The surge represents a 12.7% jump from February and a strong 25% increase compared to March 2024. Record UPI Growth in March The volume of transactions also […]

Economy National

India’s Foreign Exchange Reserves: A Pillar of Economic Stability

By BPN News Desk April 2, 2025

India’s foreign exchange reserves have reached $658.8 billion as of March 25, 2025, positioning the country as the fourth-largest holder of such reserves globally. This substantial reserve is sufficient to cover approximately 11 months of imports, underscoring India’s robust economic standing. Global Standing in Forex Reserves India’s reserves are

Economy National

Finance Minister Defends Access to Encrypted Messages Under New Tax Bill

By BPN News Desk March 30, 2025

Finance Minister Nirmala Sitharaman has defended a controversial provision in the proposed Income Tax Bill, 2025, which allows tax authorities access to encrypted digital communications such as WhatsApp chats and emails. She argued that this move is essential in tracking down unaccounted wealth and addressing the increasingly digital nature of financial crimes. Encrypted

Economy National

Government to Borrow ₹8 Lakh Crore in First Half of FY26

By BPN News Desk March 29, 2025

The Indian government has announced plans to borrow ₹8 lakh crore through market borrowings in the first half of the financial year 2025–26 (FY26). This accounts for 54% of the total gross borrowing target of ₹14.82 lakh crore for the full fiscal year. The borrowing is aimed at meeting expenditure needs while managing market liquidity […]

Economy National

WhatsApp Messages Help Uncover ₹200 Crore Tax Evasion

By BPN News Desk March 26, 2025

Union Finance Minister Nirmala Sitharaman recently defended the provisions of the new Income Tax Bill, 2025, emphasizing the role of digital evidence in uncovering financial misconduct. The minister revealed that WhatsApp messages were instrumental in uncovering ₹200 crore linked to tax evasion through crypto assets. This revelation came during her address to the Lok

Economy National

IMF Highlights Resilience and Diversity in India’s Financial System

By BPN News Desk March 25, 2025

India’s financial system has been recognized for its resilience and diversity in a recent assessment by the International Monetary Fund (IMF). The report, part of the Financial Sector Assessment Program (FSAP), emphasized that India’s rapid economic expansion and strong crisis management measures have contributed significantly to the robustness of its financial

Economy National

Rupee Erases 2025 Losses Amid Strong Dollar Inflows

By BPN News Desk March 25, 2025

The Indian rupee has rebounded strongly, wiping out all its losses for the year 2025. On Monday, the rupee surged to a session high of 85.50 before settling at 85.6350 against the U.S. dollar, registering a 0.4% gain for the day. This recovery has been primarily driven by sustained dollar inflows from foreign financial institutions, […]

Economy National

Ajay Seth Appointed as India’s New Finance Secretary

By BPN News Desk March 25, 2025

Ajay Seth, a senior Indian Administrative Service (IAS) officer from the 1987 batch of the Karnataka cadre, has officially taken over as the new Finance Secretary of India. His appointment follows the transition of Tuhin Kanta Pandey, who recently assumed the role of chairperson at the Securities and Exchange Board of India (SEBI). The Appointments […]

Economy National

India’s Outward Foreign Direct Investment Surges in FY2024-25

By BPN News Desk March 24, 2025

India’s outward foreign direct investments (FDI) witnessed a sharp increase in the first ten months of FY2024-25, surpassing the total recorded in the entire previous fiscal year. Between April 2024 and January 2025, Indian companies and investors sent $20.2 billion abroad—an impressive 71% jump over the $11.8 billion recorded in all of FY2023-24. This surge […]