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    August 28, 2026
    Forex kitty jumps USD 12.42 bn to all-time high of USD 729.3 bn
    August 28, 2026
    Jio Platforms gets Sebi nod to launch IPO
    August 28, 2026
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    August 28, 2026
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    August 28, 2026
    ED arrests 3 more people in pan-India digital arrest case
    August 28, 2026
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    August 28, 2026
    Senior citizen threatened with terror funding case probe, duped of Rs 7.2 crore
    August 28, 2026
    Rupee declines 10 paise to 95.55 against US dollar in early trade
    August 27, 2026
    HIGHLIGHTS
    August 27, 2026
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    August 27, 2026
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    August 27, 2026
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    August 27, 2026
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August 28, 2026
Forex kitty jumps USD 12.42 bn to all-time high of USD 729.3 bn
Show AI Summary
Foreign exchange reserves reached a record level, supported by increases in foreign currency assets and gold holdings.
India's foreign exchange reserves increased by USD 12.422 billion to an all-time high of USD 729.328 billion for the week ended 21 August. Foreign currency assets and gold reserves recorded the principal increases, while special drawing rights and the reserve position with the IMF also rose. Foreign currency asset valuation reflects movements in non-US currencies held in the reserves. FCNR(B) and concessional swap arrangements were introduced to attract additional foreign-exchange inflows.
August 28, 2026
Jio Platforms gets Sebi nod to launch IPO
Show AI Summary
IPO regulatory approval enables Jio Platforms to advance preparations for its proposed fresh equity share public offering.
Jio Platforms Ltd. has obtained Sebi's final observations for its proposed initial public offering. This key regulatory stage enables further preparations for the public issue, subject to applicable regulatory requirements. The proposed offering comprises up to 27 crore fresh equity shares and is expected to account for approximately 2.9 per cent of the company's post-issue equity base.
August 28, 2026
PM Jan Dhan Yojana has had unparalleled impact, transformative outcomes: PM Modi
Show AI Summary
Financial inclusion through basic bank accounts expands banking access with no-balance accounts, debit cards, and emergency overdraft support.
Pradhan Mantri Jan Dhan Yojana enables unbanked adults to open basic bank accounts without minimum-balance or maintenance-charge requirements. Accounts include a free RuPay debit card with accident insurance coverage and eligibility for an overdraft facility during emergencies. The scheme promotes digital transactions, financial security and participation in the formal economy, while extending banking access to rural and semi-urban communities and increasing women's financial inclusion.
August 28, 2026
Bajaj Finance Personal Loan Offers Flexible Repayment Options with Loan Utsav 2026 Benefits
Show AI Summary
Flexible personal loan repayment enables eligible borrowers to select longer tenures, subject to eligibility, terms, verification, and repayment capacity.
Bajaj Finance personal loans offer eligible customers collateral-free borrowing with flexible repayment tenures of 12 to 108 months, subject to eligibility, applicable terms, verification and documentation. A longer tenure may reduce monthly EMIs by spreading repayment over more months, but can increase total interest payable. Borrowers should compare the interest rate, tenure, EMI, processing charges and other costs, while considering their income, existing commitments and repayment capacity. Loan Utsav 2026 provides limited-period rewards for eligible customers whose loans are successfully disbursed during the campaign period, subject to applicable terms.
August 28, 2026
ED arrests 3 more people in pan-India digital arrest case
Show AI Summary
Digital arrest money laundering investigation tracks cyber-fraud proceeds through layered bank accounts, cash withdrawals, and foreign-exchange conversion.
Arrests under the Prevention of Money Laundering Act form part of an investigation into alleged digital arrest cyber fraud and laundering of fraud proceeds. Funds were reportedly routed through numerous bank accounts, withdrawn in cash, and converted into foreign currency through licensed money changers. The financial trail is linked to commodity trading, travel and foreign-exchange entities allegedly connected with cyber-fraud complaints and first information reports. The inquiry also identified alleged shell or dummy companies using proxy directors to conceal control and facilitate fund movement.
August 28, 2026
Rupee rises 6 paise to settle at 95.39 against US dollar
Show AI Summary
Foreign exchange intervention and lower crude prices supported rupee appreciation despite a stronger dollar and foreign institutional investor outflows.
Foreign exchange market conditions supported a six-paise appreciation of the rupee against the US dollar at the close of trading. Lower global crude oil prices and Reserve Bank of India intervention to limit significant rupee depreciation contributed to the movement. A marginal strengthening of the US dollar and foreign institutional investor equity outflows continued to exert pressure, while FCNR(B) scheme inflows supported the currency.
August 28, 2026
Senior citizen threatened with terror funding case probe, duped of Rs 7.2 crore
Show AI Summary
Cyber fraud impersonating enforcement officials coerced a senior citizen into bank and cryptocurrency transfers through terror-funding threats.
Cyber fraudsters allegedly impersonated public officials and threatened a senior citizen with implication in money laundering, terror funding and cybercrime. Using WhatsApp video calls and purported official notices, they allegedly induced the victim to transfer funds to multiple bank accounts and a cryptocurrency wallet on the pretext of proving innocence. The victim reportedly liquidated fixed deposits and mutual fund investments before identifying the deception and reporting it through the cybercrime helpline. A cyber police case was registered for further investigation.
August 28, 2026
Rupee declines 10 paise to 95.55 against US dollar in early trade
Show AI Summary
Rupee depreciation against US dollar reflects foreign investor outflows and crude supply disruptions, moderated by weaker dollar and oil prices.
Foreign institutional investor outflows and disruptions in global crude oil supplies placed downward pressure on the rupee against the US dollar. A weaker dollar index and lower Brent crude prices moderated the decline. Market commentary anticipated a narrow trading range, with expected Reserve Bank of India protection at the upper end and oil importer, month-end, and importer demand supporting the lower end. Participants also monitored the US Federal Reserve Chair's Jackson Hole speech.
August 27, 2026
HIGHLIGHTS
Show AI Summary
Emergency flood response measures coordinate rescues, suspend cross-border transport, and address risks to public safety.
Severe flash floods in Nepal and along the Nepal-Tibet border prompted cross-border rescue coordination for missing and stranded persons, warnings of continued downstream flood risk, and international relief support. Preventive public-safety measures included temporary suspension of an Indo-Nepal bus service. Separate developments included disruption of public services during an employee strike, investigation of an aircraft crash, market measures affecting sugar and onion prices, and proposed trade engagement for greater market access for basmati rice and processed food exports.
August 27, 2026
UK’s PG Paper welcomes SEBI review of fraud allegations against Indian firm
Show AI Summary
Regulatory review of fraud allegations requires timely consideration of representations while merits and standing remain undecided.
SEBI must consider and decide, within two weeks, representations alleging fraud by an Indian logistics company and its subsidiary. The allegations concern systematic over-invoicing of freight charges and forged documentation, with a parallel criminal investigation based on an FIR registered by the Delhi Police Economic Offences Wing. No determination has been made on the merits of the allegations or the complainant's standing to approach SEBI. The allegations and criminal proceedings were disclosed in IPO offer documents.
August 27, 2026
'Neta-Company Loot Tribunal': Cong on NCLT haircut approval for Subhash Chandra
Show AI Summary
Personal insolvency repayment plans test creditor voting thresholds, valuation safeguards, and limits on commercial review under insolvency law.
Personal insolvency resolution under the Insolvency and Bankruptcy Code involved approval of a repayment plan providing for payment of Rs 6.25 crore to creditors and Rs 25 lakh towards process costs against admitted creditor claims of about Rs 22,006.57 crore. Objections by dissenting creditors were rejected because they held less than 20 per cent of voting share, while the plan received 80.81 per cent support. Valuation indicated that the personal estate was worth less than the amount offered, and the tribunal declined to replace creditor commercial wisdom or assess settlement adequacy.
August 27, 2026
S&P affirms India's 'BBB' sovereign rating; cites dynamic economy, policy stability
Show AI Summary
Sovereign credit rating stability reflects policy continuity, infrastructure investment, external strength, and fiscal consolidation pressures.
India's sovereign credit rating retained a BBB stable outlook, supported by strong growth, an external balance sheet, stable institutions, policy predictability, and infrastructure investment. Public investment and consumer demand are expected to sustain growth and assist fiscal consolidation. Constraints include weak fiscal performance, elevated government debt and interest burdens, and low per-capita income. Long-term rating support depends on financing infrastructure investment without materially widening the current-account deficit and on reducing the fiscal deficit through stable fiscal and monetary policies.
August 27, 2026
Sugar prices ease marginally to Rs 64.33 per kg on Thursday
Show AI Summary
Sugar import liberalisation and stockholding limits seek to moderate retail prices amid constrained domestic supply and restricted exports.
Sugar price-control measures combine duty-free raw sugar imports, stockholding limits for dealers and bulk consumers, and an export prohibition to address elevated retail prices and curb hoarding. Domestic supply remains constrained by reduced sugarcane output, prior exports and diversion of sugar to ethanol. Net production is estimated below projected domestic demand, while closing stocks are expected to remain limited. Import access, inventory restrictions and export controls therefore operate as market-stabilisation mechanisms.
August 27, 2026
ED freezes assets worth Rs 33 crore after raids against Gurugram realty group
Show AI Summary
Money-laundering investigation into alleged homebuyer fraud led to searches and freezing of assets linked to realty promoters.
Money-laundering proceedings were initiated under the Prevention of Money Laundering Act on the basis of police FIRs alleging fraudulent inducement and non-delivery of residential plots. Searches at premises linked to real estate promoters resulted in the seizure or freezing of luxury vehicles, jewellery, bank accounts and securities. The investigation alleges that substantial upfront payments for residential plots were received, but a significant portion of promised plots remained undelivered, and certain plots were allegedly sold to third parties without consent.
August 27, 2026
CARD91 Launches SpendFlow, a Commercial Card Platform Built for Enterprise Requirements
Show AI Summary
Commercial card governance enables configurable credit, approvals, virtual cards and controlled supplier payments across enterprise payment workflows.
SpendFlow combines commercial card program configuration, credit management, virtual cards, spend controls, approvals, supplier payments, billing and accounting in one architecture. It supports centrally governed rules with approved corporate-level variations, enterprise hierarchy management, and virtual cards linked to entities, employees, accounts or credit facilities. Multi-tier approvals and virtual-card supplier payments support controlled business payment functions, while core banking and ERP connectivity links card activity with banking and enterprise financial workflows.
August 27, 2026
Will talk to Japan on increasing basmati rice exports from India: Goyal
Show AI Summary
Basmati rice market access may be pursued through trade agreement review, subject to import limits and safety standards.
Market access for Indian basmati rice may be pursued through review of the Comprehensive Economic Partnership Agreement, as rice remains a sensitive sector subject to import quantity limits and duties beyond permitted quantities. Processed food exports offer further opportunities where exporters comply with Japanese quality and safety standards. Bilateral cooperation also covers investment, supply chains, technology partnerships and capital flows supporting infrastructure, manufacturing and semiconductor ecosystems.
August 27, 2026
Will consider Air India's biz strategy, other factors before deciding on additional fund requests: Singapore Airlines
Show AI Summary
Capital allocation discipline governs consideration of further Air India funding alongside business strategy, cash flow and investment requirements.
Further capital investment in Air India will be evaluated by Singapore Airlines' board through a disciplined capital-allocation process. Assessment will consider the group's capital requirements, Air India's business strategy, operating cash flow, investment needs for aircraft and products, and multi-hub investments intended to support long-term growth and returns. As a significant minority shareholder, Singapore Airlines supports Air India's transformation programme with Tata Sons, but no commitment to provide additional capital is indicated.
August 27, 2026
Commerce and Industry Minister Shri Piyush Goyal Concludes Japan Visit; Calls for Greater Japanese Investment and Stronger Industrial Partnerships with India
Show AI Summary
Semiconductor investment cooperation anchors expanded India-Japan industrial partnerships across technology, manufacturing, clean energy, infrastructure, and financial services.
Semiconductor and artificial-intelligence cooperation centres on a six-pillar semiconductor strategy encompassing chip design, semiconductor machinery and materials, fabrication, ATMP/OSAT, research and development, and talent development. Japanese participation is sought across semiconductor materials and equipment, power semiconductors, electronics, AI, logistics and related advanced technologies. Development of semiconductor clusters is linked to reliable power, ultra-pure water, skilled manpower and social infrastructure.
August 27, 2026
PM Jan Dhan Yojana Completes 12 Years of Transforming India’s Financial Inclusion Landscape
Show AI Summary
Financial inclusion through basic bank accounts enables direct welfare transfers, digital payments, insurance access and credit for excluded households.
PMJDY provides unbanked adults with basic bank accounts without minimum-balance or maintenance-charge requirements, free RuPay debit cards with accident insurance cover, and eligible overdraft support. Through the JAM framework, PMJDY accounts enable direct transfer of welfare benefits using bank accounts, Aadhaar-based biometric verification and mobile connectivity, reducing intermediary involvement and delays. The scheme emphasises rural, semi-urban, marginalised and women account holders while supporting access to insurance, pensions, savings, digital payments and credit, including MUDRA loans.
August 27, 2026
Rassense Becomes First Indian CFS Company to Cross 5,000+ Employees; On Track to Cross INR 600 Crore in Revenue
Show AI Summary
Contract food services expansion strengthens Rassense's nationwide institutional operations through new academic partnerships and technology-led service delivery.
Rassense Pvt Ltd reports crossing a workforce of more than 5,000 employees and projects revenue exceeding INR 600 crore. Its contract food services operations serve educational institutions, corporate campuses, healthcare facilities and industrial locations. New operations at IIM Jammu, IIM Bangalore and IIT Guwahati strengthen its nationwide institutional presence. Expansion is supported by academic institution partnerships, local workforce development, operational excellence, and technology-led capabilities in food production, food waste reduction and supply-chain management.

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FEMA & RBI

Disposal of Complaints received by bank Ombudsman

August 1, 2017

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The. Bank-wise details regarding number of complaints received by Banking Ombudsmen (BO) and disposed of in the last three years i.e. 2014-15, 2015-16 and 2016-17 are given in Annexure.

Majority of the complaints received under the Banking Ombudsman Scheme are resolved through conciliation and mediation of BO. In very few cases, where conciliation and mediation fails to achieve mutually agreeable settlement, BO passes an Award or rejects the complaint.

Bank-wise details of Complaint received/disposed/pending at  the Offices of Banking Ombudsmen

Bank Name

2014-15

2015-16

2016-17

Public Sector Banks

Received

Disposed

Pending

Received

Disposed

Pending

Received

Disposed

Pending

STATE BANK OF INDIA

24113

22750

1363

25611

25635

1339

30581

28610

3310

STATE BANK OF BIKANER & JAIPUR

1199

1186

13

1267

1197

83

2033

2039

77

STATE BANK OF HYDERABAD

642

625

17

777

744

50

862

882

30

STATE BANK OF MYSORE

316

296

20

351

361

10

450

449

11

STATE BANK OF PATIALA

530

497

33

760

767

26

1167

1109

84

STATE BANK OF TRAVANCORE

790

766

24

819

837

6

849

782

73

ALLAHABAD BANK

1143

1095

48

1218

1167

99

1413

1326

186

ANDHRA BANK

682

680

2

1051

1023

30

1307

1285

52

BANK OF BARODA

3038

2907

131

3916

3701

346

5043

4889

500

BANK OF INDIA

2808

2660

148

3210

3127

231

4191

3972

450

BANK OF MAHARASHTRA

590

561

29

652

645

36

845

758

123

CANARA BANK

2992

2866

126

3838

3737

227

5248

5029

446

CENTRAL BANK OF INDIA

2095

1974

121

2295

2262

154

2716

2540

330

CORPORATION BANK

792

754

38

804

790

52

1254

1143

163

DENA BANK

718

683

35

784

774

45

1140

1085

100

INDIAN BANK

1246

1217

29

1369

1345

53

1673

1654

72

INDIAN OVERSEAS BANK

1534

1494

40

2376

2313

103

2633

2616

120

ORIENTAL BANK OF COMMERCE

834

788

46

1080

1039

87

1522

1456

153

PUNJAB AND SIND BANK

390

374

16

554

539

31

690

661

60

PUNJAB NATIONAL BANK

4454

4265

189

4735

4577

347

6227

5919

655

SYNDICATE BANK

1195

1146

49

1225

1193

81

1416

1383

114

UCO BANK

1262

1223

39

1406

1370

75

1747

1709

113

UNION BANK OF INDIA

2141

2013

128

2249

2249

128

2559

2308

379

UNITED BANK OF INDIA

953

937

16

733

700

49

958

972

35

VIJAYA BANK

411

398

13

489

481

21

690

666

45

IDBI BANK LIMITED

854

808

46

10

9

47

2079

2033

93

Bhartiya Mahila Bank

2

2

0

1453

1410

43

16

16

43

 

57724

54965

2759

65032

63992

3799

81309

77291

7817

CATHOLIC SYRIAN BANK LTD

82

81

1

80

78

3

66

66

3

CITY UNION BANK LIMITED

120

119

1

124

120

5

136

136

5

FEDERAL BANK LTD

331

327

4

387

376

15

503

467

51

JAMMU AND KASHMIR BANK LTD

157

146

11

168

168

11

140

133

18

KARNATAKA BANK LTD

163

162

1

140

138

3

222

207

18

KARUR VYSYA BANK LTD

195

191

4

242

238

8

298

299

7

LAKSHMI VILAS BANK LTD

102

100

2

166

167

1

120

116

5

NAINITAL BANK LTD

15

12

3

45

45

3

25

23

5

RATNAKAR BANK LTD

127

121

6

224

219

11

417

388

40

SOUTH INDIAN BANK LTD

165

163

2

195

191

6

206

204

8

TAMILNAD MERCANTILE BANK LTD

133

133

0

122

118

4

144

144

4

THE DHANALAKSHMI BANK LTD

89

88

1

71

72

0

64

61

3

AXIS BANK LIMITED

3242

3080

162

4966

4861

267

6748

6506

509

BANDHAN BANK LIMITED

0

0

0

26

23

3

102

100

5

DEVELOPMENT CREDIT BANK LTD.

131

128

3

263

252

14

316

301

29

HDFC BANK LTD.

5684

5542

142

7712

7815

39

9885

9331

593

ICICI BANK LIMITED

6379

6097

282

7897

7707

472

9541

9331

682

IDFC BANK LIMITED

0

0

0

1

1

0

29

24

5

INDUSIND BANK LTD

824

785

39

1214

1188

65

1436

1393

108

KOTAK MAHINDRA BANK LTD.

1576

1512

64

2394

2287

171

3711

3608

274

YES BANK LTD.

342

322

20

496

481

35

969

935

69

 

19857

19109

748

26933

26545

1136

35078

33773

2441

AMERICAN EXP. BANKING CORP.

106

88

18

156

171

3

187

175

15

BARCLAYS BANK PLC

92

87

5

95

96

4

55

57

2

CITIBANK N.A

813

789

24

890

881

33

1242

1173

102

DBS BANK LTD.

11

10

1

13

11

3

28

28

3

DEUTSCHE BANK AG

63

58

5

90

89

6

105

94

17

HONGKONG AND SHANGHAI BANKING CORPN.LTD.

298

288

10

403

385

28

415

408

35

ROYAL BANK OF SCOTLAND

197

190

7

181

175

13

126

132

7

STANDARD CHARTERED BANK

2012

1945

67

1558

1557

68

1086

1075

79

Others Foreign Banks

18

17

1

27

28

0

42

40

2

 

3610

3472

138

3413

3393

158

3286

3182

262

RRBs/SCBs/Others

7247

7116

131

7516

7188

459

11315

11082

692

Grand Total

88438

84662

3776

102894

101146

5524

130988

125330

11182

* Complaints disposed includes those pending at the end of the previous year

This was stated by Shri Santosh Kumar Gangwar, Minister of State for Finance in written reply to a question in Rajya Sabha today.

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