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*TOP STORIES TODAY* *ETBFSI* Rupee may see gradual gains on dollar weakness, capital inflows: Forecasters - https://etbfsi.com/s/ty8vfsd Why is RBI on a gold buying spree? - https://etbfsi.com/s/dncaxa4 Why US banks are exploring joint stablecoin venture to enter crypto market - https://etbfsi.com/s/h4pkg0d How do banks make money in fixed deposits bundled with 'free' insurance - https://etbfsi.com/s/yjyj80v *Have you seen ETBFSI’s latest series: THE BFSI SHOW? Find all the episodes below:* https://bfsi.economictimes.indiatimes.com/tag/the+bfsi+show *Stay tuned and subscribe to ETBFSI* https://bfsi.economictimes.indiatimes.com/etnewsletter.php Courtesy @Samriddhi Mahar @ETBFSI

The Reserve Bank of India will establish a new Payments Regulatory Board. This board will consist of six members. The RBI governor will head the board. Three members will be nominated by the central government. The new board will replace the existing BPSS. The board will regulate and supervise payment systems in India. Here are the details: Read more at: https://bfsi.economictimes.indiatimes.com/articles/new-payments-regulatory-board-in-india-governments-role-and-composition-explained/121366611

Bank of America revised its year-end forecast to 84 per dollar, up from 87 earlier, while MUFG, ANZ, and Goldman Sachs have made similar upgrades, projecting a stronger rupee by December. Read more at: https://bfsi.economictimes.indiatimes.com/articles/indian-rupee-set-for-gradual-strengthening-amid-dollar-decline-and-foreign-inflows/121402008

The central bank's aggressive gold accumulation aligns with a global trend among central banks, which have collectively purchased over 1,000 tonnes of gold in the past three years. Read more at: https://bfsi.economictimes.indiatimes.com/articles/rbis-gold-buying-spree-a-strategic-shift-amid-economic-uncertainty/121402055

RBI fines 26 banks, fintechs in May for regulatory breaches; Union Bank, Lendbox latest This month the RBI cracked down on Banks including SBI, ICICI, Bank of Baroda, Axis Bank, Bank of Maharashtra, Yes Bank and a bunch of cooperative banks for non-compliance over regulatory norms. Read more at: https://bfsi.economictimes.indiatimes.com/articles/rbi-imposes-fines-on-26-banks-and-fintechs-for-regulatory-breaches-union-bank-and-lendbox-among-latest-victims/121372707

The planned initiative, still in its exploratory phase, represents a coordinated move by regulated financial institutions to create a blockchain-based digital dollar. Read more at: https://bfsi.economictimes.indiatimes.com/articles/us-banks-join-forces-to-create-new-stablecoin-a-game-changer-for-the-crypto-market/121402099

SBI and HDFC Bank continued to dominate the debit cards and credit cards market shares respectively, in April 2025. In terms of Year-on-Year growth, in the debit cards segment, Axis Bank and HDFC Bank recorded the highest growth at 13 per cent and 8 per cent respectively while in the credit cards segment, Bank of Baroda witnessed the highest growth at 18 per cent with Kotak Mahindra Bank Mahindra’s annual growth declining by 19 per cent. Read more at: https://bfsi.economictimes.indiatimes.com/articles/hdfc-bank-dominates-credit-card-market-while-sbi-retains-lead-in-debit-cards-as-of-april-2025/121408966

In recent months, multiple banks have launched or revived FD products that come with complimentary health, life, or accident insurance. These offers typically apply to large deposits held for a fixed period—such as Rs 10 lakh or more for at least 375 days. Read more at: https://bfsi.economictimes.indiatimes.com/articles/unlocking-the-truth-how-banks-profit-from-fixed-deposits-with-free-insurance/121402069

With 400 million Indians lacking any sort of financial protection against ever-increasing health risks, enhancing health insurance coverage has assumed critical importance if India has to achieve its long-term economic ambitions Read more at: https://bfsi.economictimes.indiatimes.com/blog/can-health-insurance-become-indias-financial-safety-net/121290936

Banks to provide KYC updation facility for activating inoperative accounts: RBI draft As per the draft guidelines, banks would have to provide KYC updation services for the activation of such accounts at all branches, including non-home branches. Read more at: https://bfsi.economictimes.indiatimes.com/news/banking/rbi-proposes-easy-kyc-updation-for-reactivating-inoperative-bank-accounts/121372691