MANILA, Philippines – Trading of PhilWeb Corp.’s shares was suspended for one hour on Thursday following news of a possible change in control. Gregorio Araneta Inc. (GAINC) announced the sale of its 57-percent stake in the company for ₱1.8 billion.
In a notice, the Philippine Stock Exchange (PSE) stated that the trading suspension would be in effect from 9:30 a.m. to 10:30 a.m.
https://business.inquirer.net/551763/gregorio-araneta-to-exit-philweb-for-p1-8b
**Bombay High Court Commutes Death Sentence to Life Imprisonment in 2017 Double Murder Case**
The Bombay High Court on Thursday commuted the death sentence of a man convicted of killing a woman and her tenant’s two-year-old daughter in 2017. The incident occurred after the victim reportedly called the accused derogatory names such as “hijra” or “chakka.”
The accused, Deepak Jath, had poured petrol on the woman, Amravati, and set her on fire. Tragically, Angel, the two-year-old daughter of Amravati’s tenant, who was sitting beside her at the time, also caught fire. Both victims succumbed to their injuries after being hospitalized for two weeks.
While the court upheld Jath’s conviction for the murders of Amravati and Angel, it reduced his death sentence to life imprisonment. The bench, consisting of Justices Revati Mohite-Dere and Shyam Chandak, noted that the offence did not meet the “rarest of rare” criteria necessary to warrant the death penalty.
> “We do not find that this case, in any way, falls in the category of ‘rarest of rare case’ warranting death sentence to the accused. Hence, the death sentence awarded to the accused for causing the death of Amravati and Angel requires to be commuted,” the bench stated.
The High Court’s order came while hearing a plea filed by the State government seeking confirmation of Jath’s death sentence. It is important to note that a death sentence can only be executed after confirmation by the High Court.
**Background of the Case**
In 2023, a sessions court convicted Deepak Jath and sentenced him to death, deeming the crime to be among the rarest of rare. The prosecution presented facts stating that on April 14, 2017, Amravati and her daughter Rohini, who sold bracelets, were sitting outside their home in Bandra when Jath approached and doused them with petrol.
Rohini escaped by running inside and raising an alarm. Some of the petrol splashed onto Kanta, Amravati’s tenant, and her daughter Angel, who were also nearby. All victims were rushed to the hospital, where Amravati and Angel later died from burn injuries. Kanta suffered 60% burn injuries but survived.
**Defendant’s Statement and Legal Proceedings**
During his statement to the magistrate, Jath explained that he committed the act because Amravati and others repeatedly teased him by calling him “hijra” or “chakka.” He claimed that, in an attempt to prove he was not one of these, he had even exposed himself to them.
Jath’s lawyer, Farhana Shah, argued for leniency on the grounds of mental instability. She presented medical documents showing that Jath was declared unfit to stand trial on October 23, 2021, and that the trial began only after he was declared fit on June 10, 2022.
Despite these claims, the court observed that Jath himself admitted to committing the offense and justified it on the basis of the teasing he endured. Consequently, while the court maintained his conviction, it opted for life imprisonment rather than the death penalty.
—
*This case highlights the judiciary’s careful consideration in differentiating between crimes that warrant the death penalty and those that do not, emphasizing the principle of “rarest of rare” to decide capital punishment.*
https://www.freepressjournal.in/mumbai/mumbai-bombay-hc-commutes-death-penalty-to-life-in-prison-for-man-who-killed-2-in-2017-bandra-arson-attack
Bollywood director Vivek Ranjan Agnihotri has taken to social media to voice his concerns over the escalating noise pollution caused by the Mumbai Metro. Urging authorities to take immediate action, he highlighted the issue that is affecting millions of residents across the city.
In a post addressed to Ashwini Bhide, Managing Director of the Mumbai Metro Corporation, the filmmaker pointed out the severe impact of noise levels that reportedly exceed permissible decibel limits, disrupting the lives of Mumbaikars. Through his message, Vivek emphasized the plight of vulnerable groups, including the elderly, sick, and children, who are facing difficulties in sleeping and studying due to the incessant noise.
“I am writing to you because every other citizen’s attempt with the Mumbai Metro Corporation has failed. As you are fully aware, the Metro in Mumbai has become a curse for millions of residents due to the dangerously high sound levels, far exceeding permissible decibel limits. The noise pollution created by the Metro is depriving people of sleep and making it impossible for children to study. The elderly and the sick are especially affected,” he wrote.
The filmmaker added, “Thousands of Mumbaikars have been trying to bring this issue to the attention of the Mumbai Metro Corporation, but there has been nothing but total indifference and apathy, like any government department, as though the citizens suffering from the Metro’s illegal and inhuman sound pollution simply do not matter.”
Questioning the balance between development and residents’ quality of life, Vivek posed several important questions:
1. Why can’t sound-filtering walls be erected along the Metro line and around hubs located in residential areas?
2. If we are building world-class infrastructure, why can’t we demonstrate world-class empathy and concern for a citizen’s basic right to peaceful sleep and health?
3. Who is responsible and answerable for these faulty designs, and why is there apathy towards citizens’ well-being?
“Being an inspiring and concerned leader with great ethics, I am sure at least you won’t disappoint,” he added.
As of now, Ashwini Bhide has not responded to the filmmaker’s post.
Vivek Ranjan Agnihotri is known for being vocal about various social and civic issues in the country. He frequently shares his unfiltered views on different topics through social media.
On the professional front, Vivek is gearing up for the release of *Parva – An Epic Tale Of Dharma*, which is said to be based on the Hindu epic, the Mahabharata. In October 2023, he shared the first look of the film.
Additionally, he has begun work on his upcoming film, *The Delhi Files*, which is slated to hit the big screens on August 15, 2025.
https://www.freepressjournal.in/entertainment/curse-for-millions-of-residents-vivek-agnihotri-criticises-illegal-inhuman-noise-pollution-caused-by-mumbai-metro
**British PM Keir Starmer Begins Historic First Visit to India with Focus on Trade**
**New Delhi:** British Prime Minister Keir Starmer commenced his maiden visit to India on an unusual yet engaging note aboard his British Airways flight from London to Mumbai. A video surfaced showing Starmer greeting passengers by saying, “This is the Prime Minister. I’m in the cockpit. This is the biggest trade mission to India that the UK has ever sent. I’m looking forward to working with you as we explore all the opportunities in our new free trade agreement.”
**PM Modi’s Warm Welcome**
Prime Minister Narendra Modi extended a warm welcome to Starmer on his “historic first visit to India.” Posting on X, Modi expressed optimism about their upcoming meeting:
_”Looking forward to our meeting tomorrow for advancing our shared vision of a stronger, mutually prosperous future.”_
**Details of the Visit**
Starmer is on a two-day visit to India, accompanied by a robust 125-strong business delegation. Upon arrival in Mumbai, he visited the iconic Yash Raj Film studio and also took part in a football event, signaling a blend of cultural engagement and diplomacy.
Following the informal activities, Starmer prepared for discussions with External Affairs Minister S. Jaishankar. These talks are a prelude to his meeting with PM Modi, where both leaders plan to review the progress made under the India-UK Comprehensive Strategic Partnership aligned with their ambitious ‘Vision 2035.’
Trade tops the agenda of the visit, with Starmer’s delegation aiming to capitalize on opportunities arising from the recently signed trade agreement. This deal aspires to double bilateral trade between the two nations to nearly $100 billion by 2030.
**Trade Agreement Under Scrutiny**
While the agreement marks a significant milestone, it is still undergoing scrutiny by the British Parliament. The House of Lords International Agreements Committee launched an inquiry on September 10, focusing on the potential benefits and risks for the UK, broader geopolitical implications, and the future of UK-India relations.
Lord Goldsmith, chair of the committee, emphasized these focal points amid ongoing evaluations.
**Indian Perspective on the Agreement**
Ambassador Ruchi Ghanashyam, former High Commissioner to the UK, acknowledged the agreement’s ambitious roadmap to deepen economic ties over the medium and long term but also highlighted areas needing further work.
“We are yet to see easing of visas from the UK side, but important agreements covering migration, mobility, and social security contributions of Indian nationals working in the UK are definitely steps in the right direction,” she noted. “There is a strong logic behind forging stronger bilateral ties between India and the UK, and governments in both countries recognize this.”
**Visa Issues: A Point of Friction**
Visa policies remain a slight point of friction in the India-UK relationship. Starmer clearly stated during an interaction with reporters in Mumbai that visa issues would not be discussed on this visit.
Rahul RoyChaudhury, Senior Fellow for South and Central Asian Defence, Strategy, and Diplomacy at the UK-based International Institute for Strategic Studies (IISS), described this as expected given the domestic political climate in the UK.
“Immigration has become a significant political issue with recent large anti-immigration rallies in London. It is anticipated to influence the local elections in 2026 and the general elections in 2029, where the Labour party could potentially lose ground to right-wing parties,” said RoyChaudhury.
He added, “Consequently, the government is enforcing a tough crackdown on illegal immigration alongside proposals to restrict legal migration to address public concerns.”
**Engagement at CEO Forum and Global Fintech Fest 2025**
Starmer and Modi are also scheduled to participate jointly in the CEO Forum and the Global Fintech Fest 2025 on Thursday, further underlining the commitment to expand economic and technological cooperation.
**Addressing Concerns on Sikh Extremism**
On India’s concerns regarding Sikh extremism, experts believe Starmer’s government has countered the expectations of Sikh separatists that the Labour administration might sympathize with their cause.
“There is now heightened awareness within the British government about the detrimental impact of Sikh separatists in the UK, and a clear intent to prevent a situation akin to what has been seen in parts of Canada and the US,” asserted RoyChaudhury.
Ambassador Ghanashyam agreed, emphasizing balance: “While the two sides will continue to engage on this subject, it is important not to blow the issue out of proportion. Sikh separatists are a small group and do not represent the majority view of the Sikh community in the UK.”
—
**Summary**
British Prime Minister Keir Starmer’s inaugural trip to India signals a broadened and deepened collaboration between the two nations, especially in trade and economic partnerships. While challenges such as visa issues and security concerns remain, both countries appear committed to advancing their Comprehensive Strategic Partnership for a mutually prosperous future.
https://www.freepressjournal.in/world/this-is-the-prime-minister-uk-pm-keir-starmer-surprises-british-airways-co-passengers-from-cockpit-on-maiden-india-visit-video
**Realme 15 Pro 5G Game of Thrones Limited Edition Launched in India**
Realme has officially launched the Realme 15 Pro 5G Game of Thrones Limited Edition in India. This special edition is the result of a collaboration between Realme and Warner Bros, paying tribute to HBO’s iconic series, *Game of Thrones*.
### Design and Features
Unlike the standard Realme 15 Pro variants, the Game of Thrones Limited Edition stands out with a unique “Golden-in-Black” design. The back of the phone features a detailed Targaryen three-headed dragon sigil, making it a collector’s item for fans of the series.
One of the standout features is the heat-sensitive cover that changes color from black to fiery red when temperatures rise above 44 degrees Celsius. The device also offers a customized user interface (UI) themed around ‘Ice’ and ‘Fire’. This edition includes exclusive filters such as the Northland Filter for Winterfell vibes and an AI Edit Genie that provides medieval-style makeovers.
### Collector’s Box and Accessories
The phone comes packaged in a lavish collector’s box designed to resemble a wooden throne intricately carved with house sigils. Inside, users will find an unfolding Iron Throne model, a “Hand of the King” SIM ejector tool, UV-reactive secret letters, postcards, stickers, and adorable Realmow figurines of beloved characters like Daenerys Targaryen and Jon Snow.
### Limited Availability
Realme has produced only 5,000 units of this limited-edition model worldwide, making it a rare and coveted item for enthusiasts and collectors alike.
—
### Realme 15 Pro Game of Thrones Edition Price in India
The Realme 15 Pro Game of Thrones Edition is priced at ₹44,999 and comes in a single configuration with 12GB RAM and 512GB storage. It is available for purchase via Realme’s official website, Flipkart, and offline retail stores.
#### Launch Offers:
– ₹3,000 bank discounts
– Up to ₹5,000 off through the Brand Upgrade Program
– 12 months no-cost EMI options online
– ₹3,000 credit card EMI savings or ₹3,000 flat off plus 8 months no-cost EMI at offline stores
—
### Realme 15 Pro Game of Thrones Edition Specifications
This limited edition retains the same specifications as the regular Realme 15 Pro model:
– **Display:** 6.8-inch OLED panel with 2800×1280 pixels resolution, 144Hz refresh rate, peak brightness up to 6500 nits, 100% DCI-P3 color gamut, 4608Hz PWM dimming, full-brightness DC dimming, and Corning Gorilla Glass 7i protection.
– **Processor:** Qualcomm Snapdragon 7 Gen 4 (4nm) SoC coupled with Adreno 722 GPU.
– **Memory & Storage:** 12GB LPDDR4X RAM and 512GB UFS 3.1 internal storage.
– **Operating System:** Android 15-based Realme UI 6.0, with guaranteed 3 years of OS updates and 4 years of security patches.
– **Camera Setup:** Triple rear cameras including a 50MP Sony IMX896 main sensor with OIS and f/1.8 aperture, a 50MP ultra-wide camera (OV50D, f/2.0), and a 50MP front camera for selfies.
– **Battery & Charging:** Massive 7000mAh battery capacity with 80W fast charging support.
– **Connectivity:** 5G SA/NSA, Dual 4G VoLTE, Wi-Fi 6 (2.5GHz + 5GHz), Bluetooth 5.4, USB Type-C 2.0, GPS/GLONASS/Beidou.
– **Additional Features:** IP68/IP69 dust and water resistance, in-display fingerprint sensor, IR sensor, stereo speakers with Hi-Res audio certification, and USB Type-C audio support.
—
The Realme 15 Pro 5G Game of Thrones Limited Edition offers a unique blend of powerful hardware and exclusive thematic design, making it a perfect choice for fans of the legendary series and technology enthusiasts alike. With its limited availability, interested buyers should act fast to grab this collector’s gem.
https://www.freepressjournal.in/tech/realme-15-pro-game-of-thrones-limited-edition-with-targaryen-theme-launched-in-india-price-specifications-more
Former Narcotics Control Bureau (NCB) officer Sameer Wankhede has filed a defamation suit against Netflix and Red Chillies Entertainment over Aryan Khan’s directorial debut, *The Ba***ds of Bollywood*. The show, which premiered on the streaming platform last month, has stirred controversy after viewers noticed a character resembling Wankhede — the officer who famously arrested Aryan Khan in 2021 during a cruise drug bust.
On Wednesday, the Delhi High Court issued notices to both Netflix and Red Chillies Entertainment following Wankhede’s plea.
### Legal Proceedings and Court Response
The Delhi High Court had earlier dismissed Wankhede’s initial petition as not maintainable. However, after he submitted an amended version, the case was taken up for hearing. The court stated, as reported by *Hindustan Times*, “We appreciate that there is cause in your favour to approach this court, but there is a process to be followed.”
Representing Wankhede, senior advocate Sandeep Sethi informed the bench that his client and family have been subjected to relentless online abuse since the show’s release. Mentioning the series, Sethi said, “There are posts trolling me, my wife, and my sister. Ex facie defamatory. It’s shocking. They (defendants) are surely not defending those posts.”
### About *The Ba***ds of Bollywood*
Produced by Shah Rukh Khan’s Red Chillies Entertainment and directed by Aryan Khan, *The Ba***ds of Bollywood* is described as a satire on the Hindi film industry. The show features a plain-clothed cop who raids a Bollywood party and detains an actor despite finding no drugs — a storyline many social media users have linked to the real-life 2021 incident involving Aryan Khan’s arrest.
### Allegations by Sameer Wankhede
In his defamation suit, Wankhede alleges that the series was deliberately conceptualized and executed to malign his image. He claims the show has portrayed him in a prejudicial and colorable manner.
### Public and Industry Impact
The controversy arises at a significant time, as *The Ba***ds of Bollywood* marks Aryan Khan’s first major project in the entertainment industry. This has added another layer of public scrutiny to the young filmmaker’s debut.
With the court now issuing notices to both the streaming platform and the production house, the case is expected to reignite debates around artistic expression, real-life inspiration, and the delicate line between satire and defamation.
—
**Also Read:**
[Raghav Juyal shares valuable life lessons from Shah Rukh Khan on and off the set: “SRK told me, don’t be a loose cannon”](https://www.example.com)
**BOLLYWOOD NEWS LIVE UPDATES**
https://www.bollywoodhungama.com/news/bollywood/bads-bollywood-delhi-high-court-issues-notices-makers-sameer-wankhedes-plea-aryan-khan-web-series/
The 2025 Nobel Prize in Chemistry has been awarded to Susumu Kitagawa, Richard Robson, and Omar M. Yaghi for their groundbreaking work on metal-organic frameworks (MOFs).
Their pioneering research has paved the way for innovative applications in various fields. Metal-organic frameworks enable efficient water harvesting from air, allowing access to clean water in arid regions. They also play a crucial role in capturing carbon dioxide (CO2), helping to address climate change by reducing greenhouse gas emissions.
In addition to environmental benefits, MOFs are used for the storage of toxic gases, enhancing safety measures in industrial and chemical processes. Furthermore, these frameworks act as catalysts, facilitating a wide range of chemical reactions and improving the efficiency of chemical manufacturing.
This transformative work by Kitagawa, Robson, and Yaghi is set to have lasting impacts on environmental sustainability and chemical science.
https://www.mid-day.com/news/world-news/article/nobel-prize-in-chemistry-awarded-for-metal-organic-frameworks-23597866
**Dolly Parton Sparks Health Fears After Abrupt Appearance Cancellation**
*Published Oct. 8, 2025, 4:45 p.m. ET*
Dolly Parton has sparked fresh health concerns after she abruptly canceled an appearance, citing doctors’ orders. The country music superstar’s sister further fueled panic by requesting “prayers” as Parton suffered from painful kidney stones.
The *Jolene* hitmaker is no stranger to health challenges, with a history of kidney stones. In fact, her inner circle initially feared her intense abdominal pain might be caused by a far more serious condition, RadarOnline.com can reveal.
—
### Dolly Parton’s Secret Hospitalization
While Parton, 79, has enjoyed a strong music career spanning decades, her health struggles have been significant. She was diagnosed with endometriosis after experiencing excruciating pain and underwent a partial hysterectomy in 1985. This surgery left her unable to have children with her late husband, Carl Dean.
Decades later, in 2015, Parton was secretly hospitalized at Nashville’s Vanderbilt University Medical Center due to another episode of intense stomach pain. After a series of tests, medical professionals concluded that kidney stones were the source of her agony. However, sources suggest that her inner circle remained worried a more serious diagnosis might be responsible.
To relieve her pain, Parton underwent treatments including laser therapy. Still, her loved ones were unconvinced she was completely out of danger. One insider revealed, “She was in such pain. It’s not the first – she’s been in a cancer battle before. We’re all terrified she has a far more serious condition than kidney stones.”
The insider added, “So far, the laser treatments haven’t worked, and she’s undergoing more testing. The scary thing is she has the symptoms of stomach cancer – and this is what she could be hiding.”
—
### GERD Diagnosis and Weight Loss Raise Concerns
Two years prior to her hospitalization for kidney stones, Parton was diagnosed with Gastroesophageal Reflux Disease (GERD), which caused her severe heartburn, sore throats, and difficulty swallowing. GERD can also increase the risk of esophageal cancer.
At the same time, Parton suddenly dropped 20 pounds, escalating concerns for her health. Sources say she researched her condition thoroughly and was fully aware of the cancer risks associated with GERD.
—
### Parton’s Previous Cancer Scare and Preventative Measures
Despite her fears, Parton faced the diagnosis bravely and took preventative steps to reduce the risk of esophageal cancer. The source noted, “Dolly always projects an upbeat, positive image, but underneath that she was terrified.”
Weighing her options, Parton opted for surgery to have a state-of-the-art device called LINX implanted into her esophagus. According to insiders, Parton kept her 2013 surgery completely under wraps: “Dolly didn’t want her friends, family, and fans to worry about her, so the entire procedure was done under the tightest security.”
—
### Addressing Current Health Rumors
Unlike her past health struggles, Parton has not been able to keep her current health crisis private. Following her sister’s public plea for prayers, rumors about her health and even death began to circulate online.
In response, Parton released a video message to reassure fans, stating, “I’m not dying.” She addressed the rumors directly, saying:
> “I wanted to put everybody’s mind at ease, those that seem to be real concerned, which I appreciate – and I appreciate your prayers, ’cause I’m a person of faith, I can always use the prayers for anything and everything – but I want you to know that I’m OK!”
Despite the challenges, Dolly Parton’s resilience and positive spirit continue to inspire her fans around the world.
https://radaronline.com/p/dolly-parton-health-fears-kidney-stones-surgery-serious-condition/
**Dolly Parton Sparks Health Concerns After Abrupt Cancellation and Sister’s Request for Prayers**
*Published Oct. 8, 2025, 4:45 p.m. ET*
Dolly Parton has sparked fresh health fears after she abruptly cancelled an appearance, citing doctors’ orders. Her sister further fueled panic by requesting “prayers” for the country music superstar, who is reportedly suffering from painful kidney stones.
The “Jolene” hitmaker is no stranger to health challenges and has a history of kidney stones. In fact, her inner circle believed her intense abdominal pains were being caused by a “far more serious condition,” RadarOnline.com can reveal.
### Dolly Parton’s Secret Hospitalization
Though Parton, 79, has enjoyed a strong music career for decades, her petite frame has faced significant health battles. She was diagnosed with endometriosis after experiencing excruciating pain and underwent a partial hysterectomy in 1985. This surgery left her unable to have children with her late husband, Carl Dean.
Decades later, in 2015, Parton was secretly hospitalized at Nashville’s Vanderbilt University Medical Center after experiencing another bout of intense stomach pain. She underwent a series of tests before doctors concluded her agony was caused by kidney stones. However, sources alleged that her inner circle was worried a more serious diagnosis could be to blame.
The “9 to 5” singer underwent various treatments to relieve her pain, including laser therapy. Still, those close to her weren’t convinced she was out of the woods. An insider shared:
“She was in such pain. It’s not the first – she’s been in a cancer battle before. We’re all terrified she has a far more serious condition than kidney stones.”
The insider further explained, “So far, the laser treatments haven’t worked, and she’s undergoing more testing. The scary thing is she has the symptoms of stomach cancer – and this is what she could be hiding.”
### Previous Diagnosis and Cancer Concerns
Two years prior to her secret hospitalization for kidney stones, Parton was diagnosed with Gastroesophageal Reflux Disease (GERD). This condition caused severe heartburn, sore throats, difficulty swallowing, and carried the risk of developing esophageal cancer. Around that time, Parton suddenly dropped 20 pounds, which heightened concerns about her health.
Sources say Parton researched her condition thoroughly and was well aware of the associated cancer risks.
### Dolly Parton’s Previous Cancer Scare
Despite her fears, Parton decided to bravely confront the diagnosis and took preventative steps against esophageal cancer. According to an insider, she underwent surgery to have a state-of-the-art device called LINX implanted into her esophagus.
“Dolly always projects an upbeat, positive image, but underneath that, she was terrified,” the source noted.
Parton kept the 2013 surgery under wraps. “She didn’t want her friends, family, and fans to worry about her, so the entire procedure was done under the tightest security,” the insider added.
### Current Health Update
Unlike previous health challenges, Parton’s current health crisis has not been kept secret. After her sister’s post asking for prayers sent death rumors swirling online, Parton broke her silence in a video address.
She insisted she is “not dying” and addressed the rumors surrounding her health, saying:
“I wanted to put everybody’s mind at ease, those that seem to be real concerned, which I appreciate – and I appreciate your prayers, ’cause I’m a person of faith, I can always use the prayers for anything and everything – but I want you to know that I’m OK!”
Fans and loved ones continue to offer their support and prayers to the beloved country music icon as she manages this health challenge.
https://radaronline.com/p/dolly-parton-health-fears-kidney-stones-surgery-serious-condition/
Mumbai: Reserve Bank Governor Sanjay Malhotra on Wednesday exhorted the fledgling fintech ecosystem to focus on the underserved sections of society to deepen financial inclusion.
Speaking at the annual Global Fintech Fest here, Malhotra acknowledged that serving the “privileged” will be a lucrative business but urged smaller companies to focus on the underserved.
“Build for inclusion. While there may be higher profits to be made by deepening access to the haves and the privileged, prioritise building systems to expand financial services to the unaccessed, the unreached, and the unserved segments of society,” he said to a packed hall comprising stakeholders of the fintech ecosystem.
Malhotra also called on fintech companies to design products and services that are easy to use and accessible for all. He emphasized the importance of incorporating assistive technologies to ensure vulnerable groups—such as senior citizens, individuals with limited digital literacy, and the specially-abled—are not left behind.
There is a need for Indian fintechs to “prioritise” trust and compliance, Malhotra added, highlighting that they should embed strong data protection, transparency, and consumer safeguards in every offering.
The number of Indian fintech firms has grown to 10,000, having collectively raised over USD 40 billion over the last decade, noted the career bureaucrat-turned-central banker.
Highlighting technology’s role as a force multiplier for sustainable economic development, Malhotra appreciated fintechs for delivering financial services at population scale and at affordable costs.
He urged the fintech ecosystem to focus on extending credit to make the best use of the infrastructure created over recent years and ensure that small businesses and individuals gain access to credit. Moreover, fintechs should design customer experiences so seamless that a customer service agent is no longer necessary.
Addressing a growing concern, the RBI governor said digital frauds are “becoming a problem” for the Reserve Bank. He highlighted the MuleHunter solution, developed by an arm of the central bank, which is currently used by 21 banks and has demonstrated a 90% success rate in tracking down accounts used by fraudsters. The solution creates a complex web of accounts employed to swindle funds after duping unsuspecting individuals.
Malhotra also called for greater integration among the 17 account aggregators to incorporate more financial information and adopt interoperable features for enhanced effectiveness.
The Reserve Bank is in the process of introducing standards designed to improve customer onboarding, enhance user interfaces, strengthen data security, and increase awareness under the account aggregator framework, he added.
On the issue of unmet credit demand in the country, Malhotra mentioned the recently launched unified lending interface that can help bridge the gap by enabling easier access to credit. He underscored that credit is the “lifeblood” of inclusive growth.
The Reserve Bank has also conceptualised the “unified markets interface” as a next-generation financial market infrastructure.
“This interface will have the capability to tokenise financial assets and settlements using wholesale CBDC (central bank digital currency),” Malhotra said, adding that early efforts are encouraging.
Meanwhile, Infosys co-founder and non-executive chairman Nandan Nilekani revealed that the ‘Finternet’ ecosystem, which he has been promoting for some time, is expected to go live in 2026.
He noted that the number of people who have signed up for Finternet—a vision for a future financial system that is unified, interconnected, and user-centric—is growing rapidly. The platform is expected to bring assets such as land, property, bonds, and financial investments onto a single platform where they will be tokenized.
In related news, the National Payments Corporation of India (NPCI) launched several initiatives on Wednesday. These include AI-based UPI HELP powered by its Small Language Model (SLM), designed to assist with payments, mandates, and dispute resolution.
NPCI also introduced IoT (Internet of Things) payments with UPI, enabling transactions directly from connected devices such as cars, smart TVs, and wearables, along with ‘Banking Connect’—an interoperable net banking solution.
Additionally, NPCI launched ‘UPI Reserve Pay,’ which allows users to securely block and manage credit limits for specific purposes across merchant and UPI apps.
*Disclaimer: This story is from the syndicated feed. Nothing has changed except the headline.*
https://www.freepressjournal.in/business/focus-on-the-underserved-sections-of-the-society-to-deepen-financial-inclusion-rbi-governor-sanjay-malhotra
