The Reserve Bank of India has relaxed prior-approval requirements for non-banking financial companies seeking to expand their branch networks. Under the revised framework, most NBFCs can now open branches without obtaining advance clearance from the regulator, a shift that reduces administrative friction in scaling distribution. The change is designed to streamline operations across a sector that serves a broad range of retail and commercial borrowers outside the traditional banking system. Deposit-taking NBFCs, however, face a more structured path: branch openings and agent appointments remain conditional on thresholds tied to net owned funds and credit ratings. That tiered approach preserves RBI oversight over entities that hold public deposits, where solvency and distribution risk carry systemic weight. The practical effect for non-deposit NBFCs is faster go-to-market on geographic expansion, which could accelerate credit penetration in underserved markets. Watch whether this prompts a round of branch additions among mid-tier NBFCs and how RBI calibrates further deregulation against asset quality trends in the sector.
India's Expenditure Finance Committee has cleared a Rs 1.25 lakh crore outlay for India Semiconductor Mission 2.0, up 64 percent from ISM 1.0's Rs 76,000 crore. The proposal now goes to the Cabinet, as two chip plants begin commercial output and a third, CG Semi, is set to open July 4, 2026.
The Supreme Court blocked Trump from firing Federal Reserve board member Lisa Cook, preserving the Fed's independence from presidential removal power. A separate ruling the same day gave Trump broader authority to dismiss leaders of other independent federal agencies.
The US Supreme Court has blocked President Trump's attempt to fire Federal Reserve governor Lisa Cook, who faced unproven mortgage fraud allegations. The ruling preserves Fed independence for now and keeps a politically charged removal case alive in the courts.
The US Supreme Court, splitting along ideological lines, has allowed the Trump administration to end Temporary Protected Status for Haitian and Syrian immigrants.
