Business

He said the industry must transition towards "just-in-case and just-in-future" strategies to build resilience.

A key highlight of the draft directions is a clear prohibition on "compulsory bundling," defined as making the availability of one product or service conditional upon the purchase of another, whether offered by the bank itself or a third party. The RBI has also introduced a detailed definition of "mis-selling," covering instances such as selling products unsuitable for a customer's profile, providing misleading or incomplete information, selling products without explicit consent, and forcing bundled purchases.

"Trade visitors are being provided insights into Indian organic products, value creation models and partnership opportunities, as per the ministry"

During the meeting, Nagaraju emphasized the need for further strengthening measures, such as presence of at least one bank branch in each subdivision in the North Eastern region, enhancing insurance and pension coverage for all citizens and formulating strategies to bring individuals currently outside the formal credit system into the mainstream credit framework.

According to official data, gross direct tax collections stood at Rs 22,78,068.60 crore, marking a 4.09 per cent increase over Rs 21,88,554.86 crore collected during the same period last year

"In the coming year, the States' share is estimated at Rs 25.44 lakh crore, which is devolved to them, an increase of Rs 2.7 lakh crore from last year," she said while replying to the debate in the Lok Sabha on the Union Budget 2026-27. She cited the 16th Finance Commission and said it had analysed the devolution of funds from 2018 to 2023 and concluded that the Centre's transfers to states during each of those years exactly matched the Commission's recommendations.