Tuesday, September 01
The Reserve Bank of India has directed all regulated lenders to provide information on their borrower accounts to credit information companies such as Transunion Cibil on a weekly basis as against the current practice of 14 days. The move will help in better underwriting of credit and monitoring of loans. This directive will be effective April 1, 2026."Given the increasing reliance of credit institutions on credit information reports (CIRs) in credit underwriting processes, it is imperative that the CIRs provided by credit information companies reflect more recent information," the central bank said.The RBI also proposed measures to facilitate faster data submission and error rectification. The regulator said that credit information can be updated regularly on 7th, 14th, 21st, 28th and las
Israeli Prime Minister Benjamin Netanyahu said Wednesday he still planned to visit New York despite incoming mayor Zohran Mamdani's threats to arrest him in compliance with an International Criminal Court warrant."Yes, I'll come to New York," Netanyahu said in a virtual interview with the New York Times' Dealbook forum.Asked if he would seek to speak to Mamdani, Netanyahu replied, "If he changes his mind and says that we have the right to exist, that'll be a good opening for a conversation."Mamdani, a democratic socialist who will be New York's first Muslim and first South Asian mayor, has repeatedly said he supports Israel's right to exist.But he has balked at saying Israel has the right to be a Jewish state, saying no country should have a "hierarchy of citizenship" based on religion or
Banks must offer mobile and internet banking services even for basic savings accounts and cannot charge for deposit of cash either at the bank branch or through channels, like ATMs or business correspondents for these accounts, Reserve Bank of India (RBI) has clarified in the amended directions on basic savings bank deposit (BSBD) accounts. The new directions are effective from 1 April 2026.RBI also rejected banks’ suggestion to fix eligibility criteria to open basic accounts based on income and profile of customer saying that fixing an eligibility criteria would undermine the objective of repositioning BSBD account as an affordable banking product available to all customers.Banks had sought restrictions on internet and mobile banking facility in these accounts citing the possibility of
Delta Air Lines said on Wednesday it expects a hit of about $200 million to its fourth-quarter pre-tax profit due to the U.S. government shutdown that ended last month. The impact translates to about 25 cents per share, the company said. In October, the Atlanta-based carrier had forecast an adjusted profit of $1.60 to $1.90 a share for the quarter through December. The 43-day government shutdown affected flight operations and left thousands of air traffic controllers and other staff to work without pay. The Federal Aviation Administration also mandated flight cuts at 40 major airports due to a shortage of air traffic controllers. The longest federal government shutdown disrupted tens of thousands of flights and dented travel demand. Combined with weather-related disruptions, the turmoil ha
Parliament on Thursday approved a bill to levy a higher excise duty on tobacco and related products once the GST compensation cess ends, with the Rajya Sabha returning the legislation to Lok Sabha. Lok Sabha had passed the Central Excise (Amendment) Bill, 2025, on Wednesday. Replying to a discussion on the bill in Rajya Sabha, Finance Minister Nirmala Sitharaman spoke on the various aspects of the legislation, and responded to questions from various members. Sitharaman also told the House that farmers are being encouraged to give up tobacco and grow other cash crops. "This is being done in Andhra, Bihar, Karnataka, Madhya Pradesh, Maharashtra, Odisha, Tamil Nadu, Telangana, UP, and West Bengal. In these states, more than 1 lakh acres of land are shifting from tobacco cultivation to other c
