Global trading giant Jane Street has been barred from participating in India's securities markets following an investigation by the Securities and Exchange Board of India (sebi). The interim order, issued by the market regulator, accuses the firm and its subsidiaries of manipulating index-based derivative trades in the Indian market to secure massive illegal profits. The ban, announced late last week, restricts Jane Street and four affiliated entities from buying, selling, or dealing in a

Starting July 1, 2025, several important changes in the financial sector will come into effect, impacting individual taxpayers, bank customers, and railway travelers. These changes include new regulations for Aadhaar-PAN linking, increased banking fees, and adjustments in railway ticket prices. Below are some of the key updates that individuals should be aware of: Aadhaar-PAN Linking

European bank stocks are enjoying a notable upswing, with both Barclays and Deutsche Bank shares reaching their highest levels in over a decade. This rally is being fueled by a combination of easing geopolitical tensions, signs of improving global trade relations—particularly between the United States and China—and robust first-quarter earnings, especially from investment banking divisions. Barclays, one of the UK’s leading financial institutions, has seen its

Rite Aid, the once-prominent national pharmacy chain now navigating Chapter 11 bankruptcy, is preparing to shutter 56 additional store locations across California, bringing the total number of confirmed closures in the state to 235 by 2025. As part of its ongoing financial restructuring efforts, the company is systematically downsizing its retail footprint, with California emerging as one of the hardest-hit states in this process. The latest wave of closures reflects the pharmacy chain’

In a move reflecting the Reserve Bank of India’s latest policy stance, the State Bank of India (SBI) has reduced interest rates on both savings accounts and fixed deposits (FDs), effective from June 15, 2025. This rate revision is expected to impact millions of depositors across the country, as banks realign with softer monetary cues from the central bank. SBI has cut its savings account interest rate by 5 basi

Kerala has reached an unprecedented economic landmark as annual remittances from Non-Resident Indians (NRIs), particularly those from Kerala, have surpassed ₹2 lakh crore for the first time. Alongside this, total deposits from NRIs in the state’s banking sector have crossed ₹3 lakh crore, signaling a robust and growing contribution of overseas Malayalis to the state’s financial ecosystem. This financial influx has significantly boosted Kerala’s domestic econo

Mumbai's financial sector has witnessed a significant recalibration as a once-popular deposit product—the Japanese yen (JPY)-linked special deposit—loses momentum following regulatory scrutiny and shifting bank strategies. These fancy financial instruments, heavily marketed to attract non-resident Indian (NRI) funds and appease analysts with attractive yield spreads, are now undergoing a correction. The Reserve Bank of India (RBI) has reportedly advised certain banks to ensure

World Bank President Ajay Banga met with Prime Minister Narendra Modi in New Delhi on Thursday amid heightened tensions between India and Pakistan. This significant meeting comes just days after the Indian government suspended the Indus Waters Treaty following a deadly terror attack in Pahalgam, Jammu and Kashmir, which prompted a series of military and diplomatic responses between the two nations. The meeting between the global financial institution's leader and India’s Prime Minister

In a landmark media event, Maldives President Mohamed Muizzu set a new global record for the longest press conference by a head of state, addressing reporters continuously for nearly 15 hours. The extensive session, held on Saturday, began at 10:00 a.m. local time and concluded well past midnight, surpassing the previous record of 14 hours set by Ukrainian President Volodymyr Zelenskyy in 2019. The record-breaking press meet comes amid growing scrutiny of Muizzu’s administration and his

Finance Minister Nirmala Sitharaman has embarked on a significant 11-day official tour to the United States and Peru to deepen India's role in global economic policy, strengthen bilateral relationships, and lead India’s presence at key multilateral forums. Her visit, taking place during a time of growing international economic uncertainty, aims to project India’s strategic interests in trade, finance, and development partnerships. Beginning in San Francisco, Sithar

Every year, World Liver Day is observed on April 19 to raise awareness about liver health and the growing prevalence of liver-related diseases. It also encourages individuals to adopt healthier lifestyle choices that support liver function and prevent long-term complications. As liver disease continues to be a silent global health crisis, this day plays a vital role in promoting preventative health through knowledge, early diagnosis, and lifestyle changes. The liver is one of the most crucial

AUSTIN, Texas – The Central Texas Food Bank (CTFB) is bracing for a major blow after the United States Department of Agriculture (USDA) slashed funding for critical food assistance programs. These cuts, tied to over $1 billion in federal reductions, will impact the availability of nutritious food for thousands of families in the region and reduce support for the local farming community. Beth Corbett, Vice President of Government Affairs and Advocacy at CTFB, said the cuts stem from chan

The Reserve Bank of India (RBI) has introduced a new initiative to connect more directly with the public by launching an official WhatsApp channel. This development is part of the central bank’s broader commitment to enhancing public awareness and making important financial and banking information accessible to every citizen, particularly those in rural and semi-urban areas who might not have regular access to official websites or traditional media. The initiative falls under the RBI&rs

India’s banking sector is projected to witness a year-on-year credit expansion of ₹19 lakh crore to ₹20.5 lakh crore in FY2025-26, amounting to a growth of approximately 10.8%, according to a report by ICRA, a leading credit rating agency. This expansion is expected to be driven by recent monetary easing measures implemented by the Reserve Bank of India (RBI), though structural challenges in deposit mobilisation and rising credit-deposit ratios may temper growth momentum. According to

Amaravati, Andhra Pradesh — The Central Government has disbursed over ₹4,200 crore to Andhra Pradesh for the development of its capital, Amaravati. This follows the release of USD 205 million (approx. ₹1,705 crore) by the World Bank under a major international funding initiative aimed at completing the first phase of the state’s capital development project. A senior government official confirmed that the ₹4,285 crore, transferred on April 1, is part of a comprehensive ₹15,

Poonam Gupta, a prominent economist with global expertise, has been appointed as the new Deputy Governor of the Reserve Bank of India (RBI). Her appointment marks a historic milestone, as she becomes the first woman in over a decade to assume this high-ranking position at India’s central bank. She succeeds Michael Patra, who retired in January 2024. Gupta brings with her nearly two decades of international experience, having worked with the World Bank, International Monet

New Delhi, April 1 – Indians working abroad sent home a record-breaking $129.4 billion in 2024, reaffirming India’s position as the world’s top remittance recipient. According to the latest figures released by the Reserve Bank of India (RBI), the last quarter of the year alone—October to December—saw the highest-ever quarterly inflows of $36 billion.   The World Bank, which tracks global remittance patterns, confirmed that India stands far a

As the new financial year begins on April 1, 2025, taxpayers, investors, and banking customers in India must prepare for several important changes in financial regulations. These reforms, previously announced by the government and regulatory bodies, are aimed at improving compliance, digital security, and financial transparency. Here’s a simple breakdown of the key changes that come into effect starting April 1.   1. Higher Income Tax Exemption Limit

Renowned American restaurant chain Hooters of America has filed for bankruptcy protection in Texas as part of a major restructuring effort aimed at addressing its mounting debt of $US376 million (approximately $601 million AUD). The company announced that it will transfer ownership of its company-operated restaurant locations to a group backed by the original founders of the brand, with the aim of strengthening its financial future. Despite the bankruptcy filing, Hooters has confirmed that it

Bank of America has issued essential guidelines for customers to help them avoid their accounts being labeled as abandoned property. Accounts that show signs of inactivity for extended periods, often more than three years, are at risk of being classified as abandoned and subsequently turned over to the state. This process is called escheatment, and it can result in the loss of access to your funds if not managed properly. However, the bank provides several proactive steps for customers to kee