Reserve Bank of India (RBI) Governor Sanjay Malhotra has said fintech companies have emerged as important partners in India's financial ecosystem and will play an increasingly significant role in expanding financial inclusion across the country.

Paramotor Digital Technology Ltd announced new partnerships on Friday. These collaborations aim to strengthen its digital payments and rewards presence. The company is launching new gift and prepaid cards with NSDL Payments Bank and Mastercard. Paramotor also partnered with TBX to expand its platform ecosystem distribution. Further, it is providing technology services for Osmo Atorie LLP's closed-loop card.

Sebi proposed extending IT and cyber security rules to subsidiaries of market infrastructure institutions. This move aims to strengthen regulatory oversight over these evolving business structures. Subsidiaries undertaking core MII activities will now follow parent company's cybersecurity frameworks. Exemptions can be sought if subsidiaries do not meet specific criteria. Public comments on this proposal are due by October 2.

BRICS finance ministers and central bank governors discussed efficient cross-border payment mechanisms. They also explored promoting trade settlements and investments using local currencies. The group reiterated the urgent need to reform global economic governance institutions. They emphasized making international financial institutions more representative and accountable. The New Development Bank's role in development and modernization was also recognized.

In a notable move, Kotak Realty Fund has allocated Rs 800 crore to Gurugram-based projects, enhancing the luxury residential sector supported by Smartworld Developers and M3M India Group. This partnership underscores the importance of institutional support for credible developers and effective governance, as Smartworld continues to thrive in the premium housing segment with a clean financial slate.

With its sights set on aggressive growth, Flipkart Minutes is swiftly enhancing its operations and bolstering financial results. The initiative aims to roll out multiple new fulfillment centers monthly while keeping profitability at the forefront. An increased emphasis on non-grocery products and reaching smaller urban areas are becoming key to its expansion. In parallel, Flipkart is exploring a dedicated app and crafting private-label merchandise.

The high court's recent ruling has dealt a significant blow to a controversial retrospective tax law, impacting around two lakh taxpayers. By labeling Section 147A of the Income Tax Act unconstitutional, the court dismantled the government’s rationale for reassessing prior tax filings. Taxpayers had previously challenged these reassessment notifications. Following this, the Supreme Court will evaluate the implications of this crucial amendment.

Amol Joshi, who recently resigned as CFO of TransUnion CIBIL, has been appointed as CFO of SBI Mutual Fund and will formally take charge from October 1, two people aware of the development told ETBFSI.

Panel backs targeted audit relief for private companies as dissent over wider compliance dilution puts corporate governance safeguards under scrutiny.

Kothari said he plans to pursue a journey outside Kotak, possibly an entrepreneurial one.

India's money market liquidity has surged past eleven lakh crore rupees. This excess cash resulted from banks mobilizing foreign-currency deposits under a special window. The Reserve Bank of India is actively absorbing this surplus liquidity through various operations. Banks are currently preferring short-term parking for funds rather than long-term commitments. This situation strengthens India's external position while requiring careful management by the central bank.

Brent crude oil prices surged to a four-month high of USD 108.77 per barrel on Friday as tensions in West Asia escalated further, raising concerns over the impact of higher energy prices on India's economic growth, inflation and external sector.

A nationwide bank strike disrupted services at public sector banks on Friday as unions pressed for a five-day workweek and resolution of wage and pension issues. Branch-based services, including cash transactions and cheque clearances, were hit, while UPI and internet banking continued to operate.

Indian stock markets tumbled significantly on Friday, with benchmark indices Sensex and Nifty recording considerable dips. The sharp surge in crude oil prices coupled with increasing bond yields rattled investors, leading to a staggering loss of over Rs 5 lakh crore in total market capitalisation. After a day of volatile trading, both indices closed well in the red.

NSE has reduced its IPO offer for sale to 12.64 crore shares from 14.89 crore shares, with eight shareholders cutting their proposed stake sale. The Rs 22,561 crore IPO will open on September 17, with shares priced at Rs 1,700-1,785.

Corporate India is entering an investment cycle at a time when capital is becoming more expensive. The National Statistics Office estimates private corporate capital expenditure at Rs 11.44 lakh crore for 2025-26, while companies have indicated Rs 9.55 lakh crore of investment intentions for 2026-27. About 65.35 per cent of the 2025-26 capex is expected to be financed through internal accruals and 23.25 per cent through domestic debt. These numbers make the cost of capital more than a treasury issue. The uncomfortable part is that the global pool of capital is no longer behaving as though money has little opportunity cost.

The Delhi High Court has mandated biometric Aadhaar authentication for all Goods and Services Tax registrations. This directive aims to prevent fraudulent registrations and curb significant tax evasion. The court noted continuous fake registrations despite government disclosures on the issue. Authorities must now implement this biometric system without delay. The court awaits objections regarding practical implementation challenges.

Indian central bank has finally recognised Unified Fintech Forum (UFF) as the second self-regulatory organisation for the fintech sector, nearly two years after FACE became the first fintech SRO. UFF, formerly Digital Lenders Association of India, had been pursuing the recognition since the RBI’s SRO framework was introduced.

Projected revenue growth in the organized apparel retail market is expected to reach between twelve and thirteen percent this fiscal year. This growth will be fueled by demand for value fashion and geographical expansion into smaller urban areas. Operating margins may decrease to approximately fourteen percent due to rising costs, prompting retailers to focus on inventory discipline and aware expansion strategies to maintain stable credit profiles.

The Reserve Bank of India's struggle to absorb a record liquidity surplus is increasingly becoming a treasury-management challenge for banks, which must decide how much excess cash to park with the central bank, deploy into loans or securities, or keep readily available.