The Securities and Exchange Board of India (SEBI) has extended the compliance deadline for its Cybersecurity and Cyber Resilience Framework (CSCRF) by two months. Regulated entities now have until August 31, 2025, to align with the updated cyber requirements. The extension applies to brokers, portfolio managers, mutual funds, and other market participants. While offering temporary relief, the move highlights the urgency of strengthening cyber posture...

In response to increasing fraud through Aadhaar-based financial services, the Reserve Bank of India (RBI) has issued new guidelines to strengthen the Aadhaar Enabled Payment System (AePS). These rules aim to improve the security, monitoring, and accountability of touchpoint operators and banks using AePS for digital financial inclusion. Strengthening onboarding and compliance Effective January 1, 2026, the new RBI guidelines mandate a more rigorous onboarding process...

In a significant move to strengthen cybersecurity in the cooperative banking sector, the Maharashtra State Cooperative Bank (MSC Bank) has inaugurated India’s first dedicated cybersecurity operations centre (C-SOC) for cooperative banks. Located in Vashi, Navi Mumbai, the facility—named Sahakar Suraksha—has been established at a cost of ₹50 crore. The initiative aims to protect cooperative banks and their customers from escalating cyberattacks. According to MSC Bank...

First Citizens Bank, one of the top 20 banks in the United States with over $200 billion in assets, has announced the expansion of its India operations with a new Global Capability Centre (GCC) in Bengaluru. The facility will support key business functions, including technology, enterprise operations, finance, cybersecurity, risk management, and credit administration. The expansion reflects the bank’s growing strategic investment in India and...

In one of the most high-value cyber frauds reported in Ludhiana this year, a retired banker was defrauded of ₹4.75 crore in a sophisticated forex trading scam run through fake investment portals and Telegram. The local cyber cell has arrested three individuals in connection with the case, including an employee of IDFC Bank, and investigations are ongoing to track the full extent of the...

India’s landmark Insolvency and Bankruptcy Code (IBC) has triggered a significant behavioural transformation in the country’s credit culture, according to a new study from the Indian Institute of Management Bangalore (IIM-B). The study highlights that the IBC has instilled stronger financial discipline among borrowers and improved corporate governance practices across distressed firms. The analysis draws on extensive data from the Insolvency and Bankruptcy Board of...

The Department of Telecommunications (DoT) has introduced a new analytical tool—Financial Fraud Risk Indicator (FRI)—to strengthen cyber fraud prevention across India’s financial ecosystem. Developed as part of the Digital Intelligence Platform (DIP), the tool helps banks, fintech companies, and UPI service providers assess mobile number-based financial risk and take proactive action against fraudulent transactions. FRI classifies mobile numbers into three risk categories—Medium, High, and Very...

A growing number of resolution plans under the Insolvency and Bankruptcy Code (IBC) are being approved, with 60% of all resolutions to date finalised in just the last three years, according to data released by the Insolvency and Bankruptcy Board of India (IBBI). Out of a total of 1,194 resolution plans approved over the past eight years, 708 resolutions were cleared between 2021 and...

In the wake of recent concerns over accounting lapses and isolated failures, Reserve Bank of India (RBI) Governor Sanjay Malhotra asserted on Wednesday that the Indian banking system remains "safe, secure, and robust." Addressing queries about systemic risks following issues at IndusInd Bank, New India Cooperative Bank, and Aviom India Housing Finance, Malhotra labelled these as “episodes” rather than signs of broader institutional failure. System...

Global insurance giant Allianz SE is set to exit its long-standing partnership with the Bajaj Group in India and is now exploring a fresh joint venture with Mukesh Ambani-led Jio Financial Services, according to an Economic Times report. This marks Allianz’s second attempt to establish a significant presence in India’s life and general insurance market. Exit from Bajaj Allianz for $2.8 Billion Allianz SE will sell...