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Time of India
a day ago
- Business
- Time of India
Cybersecurity boost: Banks, RBI move to launch Digital Fraud Detection Platform amid soaring crimes - All you need to know
This is an AI-generated image, used for representational purposes only. In a concerted push to tackle the rising wave of digital payment frauds, major public and private sector banks are collaborating with the Reserve Bank of India (RBI) to develop a Digital Payment Intelligence Platform (DPIP), a new Digital Public Infrastructure aimed at enhancing fraud risk management As per the news agency PTI, the proposed platform will enable real-time intelligence sharing and data analysis to detect and prevent fraudulent digital transactions. According to sources, the RBI-led initiative is a top priority and is expected to go live in the coming months. The Reserve Bank Innovation Hub (RBIH) has been tasked with building a prototype of DPIP in consultation with 5–10 banks. 'Fraud is a common monster,' a source said, underlining why both public and private banks are being roped in to co-develop the platform. A high-level meeting was recently held to finalise its institutional structure, with participation from senior bank executives and RBI officials. The platform comes in response to a sharp spike in fraud cases. As per the RBI's latest annual report, bank frauds jumped nearly threefold to Rs 36,014 crore in FY25, compared to Rs 12,230 crore a year ago. Public sector banks reported Rs 25,667 crore worth of frauds—up from Rs 9,254 crore in FY24. While card and internet payment frauds dominated in the private sector, public sector banks faced large-scale fraud in their loan portfolios. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Aparat de sudură cu laser de 9000 W (4 în 1) – o revoluție în sudură! Află mai multe Undo A few weeks ago, Airtel approached over 40 banks, RBI and NPCI, proposing collaboration to create a repository of known fraudulent domains to enable proactive blocking of rogue sites. The telecom major also highlighted risks posed by OTT messaging platforms, calling them the weakest link in fraud prevention due to lack of regulatory oversight. Airtel Vice Chairman and MD Gopal Vittal, in a letter to NPCI MD & CEO Dilip Asbe, proposed 'closer collaboration to create a repository of known fraudulent financial domains,' and favoured joint public awareness campaigns and technical cooperation to counter online scams. 'The external threat landscape is evolving rapidly. Systems like are useful, but still reactive,' Vittal wrote to the RBI, stressing that fraud must be stopped at the first step—when a user attempts to access a malicious site. The telco's proposal received positive responses from banks and the NPCI, sources said. Airtel has also sought to join forces with Jio and Vodafone Idea to initiate a joint industry-level defence against telecom-based scams. In the first nine months of 2024 alone, India reported over 1.7 million cybercrime complaints, resulting in losses exceeding Rs 11,000 crore. These figures underscore the urgency of building a coordinated, tech-driven ecosystem like DPIP to shield consumers and financial systems from the growing digital threat. Stay informed with the latest business news, updates on bank holidays and public holidays . AI Masterclass for Students. Upskill Young Ones Today!– Join Now
Mint
09-06-2025
- Business
- Mint
RBI's double bonanza: Can it spark the next rally in the Indian stock market?
Indian stock market bulls were buoyed after the country's central bank delivered a surprise policy move last week, pushing the frontline indices to break out of their recent narrow trading range amid ongoing global trade tensions. The RBI-led uptrend extended in today's trade (June 9) as well, with both frontline indices gaining nearly 0.70% each to the day's high, largely led by financials, as the sector attracted renewed interest from Dalal Street investors. Optimism grew that the latest policy moves would support credit recovery in the economy and lead to a rebound in banks' earnings. On Friday, the Indian central bank announced a deeper-than-expected 50 basis point cut in the repo rate to 5.5%, bringing it to a nearly three-year low, along with an unexpected 100 basis point cut in the CRR. These moves reflect the RBI's shift in focus toward reviving the country's growth engine after successfully bringing inflation under control. The CRR cut surprised the Street, even though the RBI had already infused over ₹ 7 lakh crore of liquidity through OMOs and forex swaps since January 2025. These policy tailwinds, combined with domestic positives such as strong Q4 GDP growth and higher GST collections, are expected to drive market momentum in the near term. However, experts said that the sustainability of the rally will depend on a further revival in earnings in the ongoing fiscal year to ease persistent valuation concerns. Following the better-than-expected March quarter numbers by India Inc., valuation concerns eased a bit but still remain elevated across several sectors and stocks, as earnings downgrades continue to outpace upgrades According to domestic brokerage firm Motilal Oswal's coverage universe, earnings estimate for 63 companies were upgraded by more than 3%, while those for 110 companies were downgraded by over 3%, indicating that downgrades continue to outnumber upgrades. The Street is anticipating that Nifty 50 companies could deliver mid-teen earnings growth over the next two years, which analysts believe will be hard to achieve given the ongoing demand challenges, suggesting the downgrades likely to persist. Following a modest 1% year-on-year growth in EPS for FY25, Nifty 50 earnings estimate for FY26 and FY27 have been revised downward by 2% and 1.1%, respectively, to 1,135 and 1,314. According to Dr. V.K. Vijayakumar, Chief Investment Strategist at Geojit Financial Services, the monetary bazooka fired by the RBI on Friday will keep the market spirits alive in the near-term. But this is not sufficient to sustain the rally triggered on Friday. More important is the trend in earnings growth. Q4 results indicate better earnings growth for midcaps. But large and small caps continue to struggle. Vijayakumar believes that FY26 earnings are unlikely to reach mid-teen growth levels, which are necessary for the market to remain resilient and move meaningfully higher. He added that the market needs clear signs of revenue and earnings acceleration to break out of its current range. In the absence of such indicators, the Nifty may only edge higher to a range of 24,500–25,500. While abundant liquidity could support the downside, concerns over earnings are likely to cap any significant upside. On a positive note, he sees weak macroeconomic data from the US and China as supportive for emerging markets like India. Disclaimer: The views and recommendations given in this article are those of individual analysts. These do not represent the views of Mint. We advise investors to check with certified experts before taking any investment decisions.
Mint
06-06-2025
- Business
- Mint
RBI policy impact: Sensex soars 800 points, Nifty tops 25,000 as surprise 50 bps rate cut lifts Indian stock market
RBI policy impact on Indian stock market: Indian benchmark indices Sensex and Nifty ended higher on June 6, reversing early losses after the Reserve Bank of India (RBI) surprised markets with a larger-than-expected 50 basis points repo rate cut in its June monetary policy review, a move that sparked optimism across sectors and lifted investor sentiment. The RBI-led Monetary Policy Committee (MPC), under Governor Sanjay Malhotra, also shifted the policy stance from 'Accommodative' to 'Neutral'. The benchmark Sensex climbed over 800 points to its intra-day high of 82,299.89, while the Nifty added over 250 points to its day's high of 25,029.50. The positive momentum extended to the broader markets as well, with the Nifty Midcap index rising 0.8 per cent and the Nifty Smallcap index advancing 0.6 per cent. Meanwhile, the India VIX declined another 2 per cent, indicating reduced volatility expectations. In a further signal of confidence, the central bank revised its CPI inflation forecast for FY26 downward to 3.70 per cent from 4 per cent, while retaining the GDP growth projection at 6.5 per cent. The dovish policy tone triggered strong buying in rate-sensitive sectors. The Nifty Realty index surged 4.3 per cent, becoming the top-performing sector, as investors cheered the supportive outlook for housing demand and affordability. The Nifty Financial Services index rose by almost 2 per cent, while Nifty Bank added 1.5 per cent and Nifty Auto rose 1 per cent. Other gainers included the Nifty Metal index, up over 1 per cent, and the Nifty Oil and Gas index, which added 0.4 per cent. However, defensive sectors like Nifty IT and Nifty Pharma closed in the red as investors rotated into cyclical and growth-oriented plays. VK Vijayakumar, Chief Investment Strategist at Geojit Financial Services, offered a nuanced take on the development. 'While the 50 basis point rate cut is growth-positive, it could be marginally negative for the markets in the near-term. This move appears to front-load the rate easing cycle, and the shift in stance to 'Neutral' signals that further cuts may not come soon unless conditions change dramatically,' he said. He added that bank margins could face short-term pressure due to the aggressive cut, though any weakness may be offset by the pick-up in credit demand and improved loan growth over time. According to Sonam Srivastava, Founder and Fund Manager at Wright Research PMS, the unexpected 50 basis point rate cut highlights the RBI's growing focus on stimulating economic growth amidst moderating inflation and global monetary easing. 'With real rates still elevated and domestic demand showing uneven trends, this move is intended to unlock credit growth, revive private sector investment, and ease repayment burdens for borrowers,' she said. Srivastava also noted that key sectors such as housing, auto, banking, and infrastructure are likely to benefit as transmission picks up pace. She added, 'The move improves the medium-term outlook for consumption and capital expenditure. Bond markets, especially in the long-duration segment, are expected to rally, setting the stage for a more accommodative environment going into the second half of the year.' The RBI's bold and unexpected rate cut delivered a clear message of pro-growth intent, reinforcing confidence in India's monetary policy trajectory. While the move triggered gains across equities, especially in interest rate-sensitive sectors, analysts remain watchful of the evolving credit environment and transmission trends. With inflation expectations cooling and global easing cycles underway, the RBI's pivot could support a broad-based recovery, even as markets weigh the near-term implications for banking margins and liquidity.
Mint
06-06-2025
- Business
- Mint
RBI's surprise 50 bps rate cut lifts markets, Sensex soars over 500 points, Nifty above 24,900
Indian benchmark indices Sensex and Nifty ended higher on June 6, reversing early losses after the Reserve Bank of India (RBI) surprised markets with a larger-than-expected 50 basis points repo rate cut in its June monetary policy review. The RBI-led Monetary Policy Committee (MPC), under Governor Sanjay Malhotra, also shifted the policy stance from 'Accommodative' to 'Neutral', a move that sparked optimism across sectors and lifted investor sentiment. The benchmark Sensex climbed 534 points to its intra-day high of 81,975.79, while the Nifty added 175 points to its day's high of 24,925.95. The positive momentum extended to the broader markets as well, with the Nifty Midcap index rising 0.5 percent and the Nifty Smallcap index advancing 0.4 percent. Meanwhile, the India VIX declined another 2 percent, indicating reduced volatility expectations. According to Sonam Srivastava, Founder and Fund Manager at Wright Research PMS, the unexpected 50 basis point rate cut highlights the RBI's growing focus on stimulating economic growth amidst moderating inflation and global monetary easing. 'With real rates still elevated and domestic demand showing uneven trends, this move is intended to unlock credit growth, revive private sector investment, and ease repayment burdens for borrowers,' she said. Srivastava also noted that key sectors such as housing, auto, banking, and infrastructure are likely to benefit as transmission picks up pace. She added, 'The move improves the medium-term outlook for consumption and capital expenditure. Bond markets, especially in the long-duration segment, are expected to rally, setting the stage for a more accommodative environment going into the second half of the year.' In a further signal of confidence, the central bank revised its CPI inflation forecast for FY26 downward to 3.70 percent from 4 percent, while retaining the GDP growth projection at 6.5 percent. The dovish policy tone triggered strong buying in rate-sensitive sectors. The Nifty Realty index surged nearly 3 percent, becoming the top-performing sector, as investors cheered the supportive outlook for housing demand and affordability. The Nifty Auto, Nifty Bank and Nifty Financial Services indices rose by over 1 percent each. Other gainers included the Nifty Metal index, up 0.9 percent, and the Nifty Oil and Gas index, which added 0.4 percent. However, defensive sectors like Nifty IT and Nifty Pharma closed in the red as investors rotated into cyclical and growth-oriented plays. VK Vijayakumar, Chief Investment Strategist at Geojit Financial Services, offered a nuanced take on the development. 'While the 50 basis point rate cut is growth-positive, it could be marginally negative for the markets in the near-term. This move appears to front-load the rate easing cycle, and the shift in stance to 'Neutral' signals that further cuts may not come soon unless conditions change dramatically,' he said. He added that bank margins could face short-term pressure due to the aggressive cut, though any weakness may be offset by the pick-up in credit demand and improved loan growth over time. The RBI's bold and unexpected rate cut delivered a clear message of pro-growth intent, reinforcing confidence in India's monetary policy trajectory. While the move triggered gains across equities, especially in interest rate-sensitive sectors, analysts remain watchful of the evolving credit environment and transmission trends. With inflation expectations cooling and global easing cycles underway, the RBI's pivot could support a broad-based recovery, even as markets weigh the near-term implications for banking margins and liquidity. Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. We advise investors to check with certified experts before making any investment decisions.
Time of India
06-06-2025
- Business
- Time of India
RBI MPC Meeting Live Updates: Will RBI governor Sanjay Malhotra cut repo rate, bring cheer for loan borrowers?
RBI MPC Meeting Live Updates: RBI governor Sanjay Malhotra-led Monetary Policy Committee (MPC) will announce its decision on repo rate, liquidity conditions, GDP growth outlook and CPI inflation trajectory at 10:00 AM today. Experts widely expect the RBI-led MPC to cut repo rate by 25 basis points from 6% to 5.75%. Some experts are even expecting a 50 basis points cut from the central bank. A repo rate cut would eventually mean lower EMIs for loan borrowers. RBI has made it clear that going forward the central bank's MPC will either cut repo rate or maintain status quo to support India's GDP growth. RBI's policy comes at a time when the global economy faces increased uncertainty due to US President Donald Trump's reciprocal tariffs. In the last policy RBI governor Sanjay Malhotra had warned of possible global economic turmoil arising due to tariff wars. Track TOI's live blog for latest from RBI policy MPC meet outcome today and know what the RBI governor said about the economy:
