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August 28, 2026
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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
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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
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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
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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
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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
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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
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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
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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
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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
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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
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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
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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
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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
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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
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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
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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
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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
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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
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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.
August 27, 2026
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Cyber fraud awareness promotes safe digital banking by teaching customers to verify communications, protect credentials, and report suspicious transactions.
Cyber-fraud awareness and digital banking safety were promoted through community sessions addressing phishing, impersonation, OTP and UPI fraud, QR-code scams, digital-arrest fraud, and fraudulent customer-care calls. Participants were guided to identify authentic banking communications, avoid sharing confidential credentials, verify callers and links before acting, and promptly report suspected unauthorised transactions. Customer vigilance, financial literacy, and institutional security measures were emphasised as complementary safeguards against digital financial fraud.

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Forex Legacy to Future Global Payments: GlobalPay to Unveil Tech-Driven New Avatar at GFF 2025

October 6, 2025

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Mumbai, Maharashtra, India (NewsVoir) GlobalPay, one of India’s most trusted names in foreign exchange and cross-border payments, will announce a series of milestone launches at the Global Fintech Fest (GFF) 2025. A Reserve Bank of India Authorized Dealer Category II licensed and BSE-listed entity with over 30 years of excellence in global payments. At GFF 2025, GlobalPay will present its new avatar with a boutique of launches that are future-ready, which blends regulatory strength with innovation, introduces industry-first products, a payments ecosystem, and repositions prepaid as the smarter, safer, and more empowering way for Indians to travel and transact globally. GlobalPay is combining its legacy of compliance and trust with bold innovations that put prepaid and pay-per-use models back in focus.

At GFF 2025, GlobalPay will introduce a slate of industry-first solutions • Co-Branded Card with Collaboration-Led Ecosystem - Through a strategic partnership with a leading corporate expense management player, GlobalPay will integrate corporate spend solutions with seamless forex capabilities, enabling businesses and employees to manage international payments efficiently, securely, and in full regulatory compliance, redefining cross-border transactions.

• Premium Metal Card for Global Traveller, Xplorer will be India’s First Pay-Per-Use Metal Prepaid Global Card with Pay-Per-Use transit features, designed exclusively for frequent travellers like CXOs, corporates, influencers, and lifestyle leisure travelers through an invite-only program. It offers seamless integration with the transit ecosystem, covering airport transfers, transit hotels, baggage handling, booking assistance, and meet & assist services. By simplifying payments and the entire transit journey. Xplorer offers a truly holistic travel experience. True privilege isn’t measured in points or tiers because freedom deserves a new foundation.

• A first-of-its-kind solution, GlobalPay’s single-currency card will allow travelers to load one base currency and seamlessly switch across multiple currencies. This will eliminate the repeated cost and complexity of multiple currency conversions that travelers typically face. It is designed to offer greater control, predictability, and transparency for frequent leisure travellers, business travellers, and global students.

• GlobalPay cards are powered by transparent Pay-Per-Use benefits, built with transit-exclusive features that move beyond tiers or points, empowering global travelers to indulge in freedom, exploration, and luxury.

• GlobalPay will announce Roadmap to Tokenization of Mobile wallets - enabling secure, contactless, and future-ready payments with tap-and-pay convenience for international transactions. Tokenization protects card details, ensuring safer and faster mobile-first payments for global travelers.

• India’s first Global Transit App, A one-stop solution for ambitious global travelers, seamlessly combining forex card management, outward remittance, and zero-cost multi-currency transfers with end-to-end transit services. From airport transfer, baggage assistance, meet & assist, international airport lounge access, along with travel essentials like travel insurance and Global eSIM. The app ensures a secure, real-time, and truly holistic travel and financial experience for everything a modern global traveler needs, all in one place.

Dilip Modi, Founder, GlobalPay, said, “India is entering a new phase of global mobility, and financial solutions must keep pace with the aspirations of its people. The new GlobalPay is about delivering complete solutions for cross-border payments and travel, combining zero-fee forex, pay-per-use privileges, tokenisation, and integrated transit services into one seamless ecosystem. Our vision is to make managing money across borders simple, safe, and universally accessible. The launches at GFF 2025 are not just about introducing new products, but about shaping the foundation of how Indians will travel, transact, and build financial confidence in the years ahead.” Srikrishna Narasimhan, Whole-Time Director & CEO, GlobalPay, added, “After two decades in the forex industry, I have seen it shift from complex processes to seamless digital journeys built on customer convenience. With these launches, GlobalPay will kickstart a new era for Indian travelers. We’ve evolved with the consumer by refreshing our brand, rethinking our services, and building products that deliver real value, powered by technology and backed by uncompromising compliance. Prepaid is stepping forward as the most transparent and practical instrument for the future, and unlike tiered or points-based ecosystems that restrict access, we don’t believe in superficial layers of benefits. We give every customer the best of services on a pay-per-use basis, open access without linking it to historical spending. At GFF 2025, the new GlobalPay will highlight its zero-fee forex, along with co-branded and prepaid metal cards, tokenization, and curated transit services all designed to make cross-border payments smarter, safer, and more seamless." About GlobalPay (WSFx Global Pay Limited) WSFx Global Pay Limited is a BSE-listed company and a Reserve Bank of India Authorized Dealer Category II licensed forex house. With over 30 years of experience with a network in 21 cities. It has been a trusted partner in foreign exchange, prepaid cards, and cross-border payments, committed to compliance, innovation, and customer-centricity.

(Disclaimer: The above press release comes to you under an arrangement with Newsvoir and PTI takes no editorial responsibility for the same.). PTI PWR

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