Author: Sharad Natani
In a major move to safeguard citizens’ unclaimed financial assets, the Supreme Court of India on Monday sought responses from top financial regulators — the Reserve Bank of India (RBI), Securities and Exchange Board of India (SEBI), and the Insurance Regulatory and Development Authority of India (IRDAI) — over a petition calling for a unified framework to trace and return Rs 3.5 lakh crore stuck in dormant or unclaimed accounts. The petition, filed by advocate and social activist Aakash Goel, urged the creation of a centralised tracking and reconciliation system to help citizens locate their long-forgotten or unclaimed assets —…
In a landmark step toward making India a global financial powerhouse, Finance Minister Nirmala Sitharaman on Tuesday launched the Foreign Currency Settlement System (FCSS) at Gujarat International Finance Tec-City (GIFT City). The new real-time system will revolutionize the way foreign exchange transactions are settled within GIFT-IFSC, cutting down the traditional 36–48-hour delay under the correspondent banking model to instant settlements. “Until now, foreign currency transactions in IFSC relied on multiple nostro banks, causing up to two days of delay. The new system eliminates that lag—bringing liquidity, speed, and transparency,” Sitharaman said while addressing the Global Fintech Fest in Mumbai. GIFT…
— In a major step toward digital democracy, the Election Commission of India (ECI) has unveiled ECINet, a unified digital platform that brings together all election-related services under one roof. The announcement came alongside the declaration of the Bihar Assembly Election 2025 schedule, with polling set to take place in two phases — November 6 and November 11, and results to be announced on November 14. What makes this election truly special, however, is the technology behind it. One Portal, Endless Possibilities Developed by merging 40 different election-related applications into one integrated platform, ECINet marks a new era in India’s…
In a bold leap toward next-generation warfare, the Indian Army has launched Operation Sindoor — marking the nation’s first major deployment of Artificial Intelligence (AI) on the battlefield. The move signals a decisive shift from conventional combat strategies to data-driven precision warfare, powered entirely by indigenous technology. According to Lt. Gen. Rajeev Kumar Sahni, DG EME, over 23 AI-based applications were deployed during the operation to enhance surveillance, decision-making, and precision targeting. The success of the initiative has laid the foundation for India’s first Military Large Language Model (LLM) — set to be developed within six months — ushering in…
In a landmark move to tighten the security of India’s rapidly growing digital payment ecosystem, the Reserve Bank of India (RBI) has announced the implementation of a Dynamic Two-Factor Authentication (2FA) system from April 1, 2026. Under the new mandate, SMS-based OTPs will no longer be sufficient to authorize online transactions. Users will now need to authenticate payments using an additional layer of verification — such as device password, biometric verification (fingerprint or facial recognition), or an authenticator app-generated token. Why RBI Introduced the Change The RBI’s decision comes amid rising cases of cyber fraud, phishing, and unauthorized digital transactions.…
देशभर में लाखों नागरिकों की मेहनत की कमाई, जो वर्षों से बैंकों, बीमा कंपनियों और निवेश फंडों में अटकी पड़ी थी, अब अपने असली मालिकों तक पहुंचेगी। केंद्रीय वित्त मंत्री निर्मला सीतारमण ने शनिवार को गांधीनगर से “आपकी पूंजी, आपका अधिकार” नामक ऐतिहासिक राष्ट्रीय अभियान की शुरुआत करते हुए यह घोषणा की कि करीब Rs 1.84 लाख करोड़ की अनक्लेम्ड राशि अब नागरिकों को लौटाई जाएगी। यह सिर्फ पैसा नहीं, लोगों की मेहनत का सम्मान है वित्त मंत्री ने कहा — “यह राशि सिर्फ एक आंकड़ा नहीं, बल्कि लाखों परिवारों की मेहनत, बचत और उम्मीदों का प्रतीक है। सरकार हर…