Non-banking financial companies (NBFCs) continue to dominate lending to first-time borrowers in India, accounting for over 60% of total accounts, according to a CRIF High Mark report. The report, titled “Bridging The Gap: Unlocking Growth from New-to-Credit Borrowers,” highlights that NBFCs remain the primary channel for individuals entering the formal credit system, while banks have…
ICICI Bank has introduced biometric authentication for Unified Payments Interface (UPI) transactions on its mobile banking application, iMobile, allowing users to authorise payments of up to ₹5,000 using fingerprint or facial recognition instead of a UPI PIN. With this feature, users can approve peer-to-peer transfers, QR code-based merchant payments, and online transactions through device-level biometric…
Gold prices in India came under pressure on April 29, with futures on the Multi Commodity Exchange (MCX) slipping below the ₹1.50 lakh per 10 grams mark. Despite the decline, losses remained contained as markets stayed volatile. Silver, meanwhile, showed relative resilience, trading slightly higher near ₹2.43 lakh per kilogram on the MCX. The domestic…
Investment-led buying of gold in India outpaced jewellery consumption for the first time on record in the March quarter, reflecting a shift in investor preference amid muted equity returns, the World Gold Council (WGC) said on Wednesday (April 29). Rising purchases of bars, coins and exchange-traded funds helped offset a slowdown in jewellery demand, which…
Neo Alternative Asset Managers (NAAM) has achieved the first close of its Neo Infra Income Opportunities Fund II, raising ₹1,500 crore towards a target corpus of ₹5,000 crore. The fund is structured to invest in operational infrastructure assets that generate revenue, with a focus on roads and renewable energy. These assets are typically backed by…
The Reserve Bank of India has introduced a key change to credit card rules through the Reserve Bank of India (Commercial Banks – Credit Cards and Debit Cards: Issuance and Conduct) – Amendment Directions, 2026, refining how delayed payments are classified and penalised. The amendment modifies existing norms to bring consistency in reporting and charges…
As the new financial year begins, investors must be approaching portfolio decisions with a focus on consistency, diversification, and risk management. Policy cues from the Reserve Bank of India and global growth signals flagged by the International Monetary Fund continue to shape the broader investment environment. Against this backdrop, financial planners outline a set of…
The 8th Central Pay Commission is holding a series of meetings with employee representatives in New Delhi from April 28 to 30, with discussions currently underway on April 29 as part of its consultation process on pay revision for central government staff. In one of the key interactions, representatives of the National Council (Joint Consultative…
India’s National Pension System remains one of the lowest-cost retirement products, but fresh enrolment growth is slowing. Here’s why adoption remains limited despite strong returns, tax benefits, and regulatory support. By Anshul April 29, 2026, 8:15:54 AM IST (Published) India’s retirement savings story has a paradox at its core. The National Pension System (NPS) is…
Quant Mutual Fund has launched the QSIF Sector Rotation Long-Short Fund, a specialised investment fund (SIF) strategy that is currently open for subscription. The new fund offer (NFO) opened on April 27 and will close on May 11, with a minimum investment requirement of ₹10 lakh, positioning it for high-net-worth and sophisticated investors. The scheme…
