Payments grow at a super fast pace but regulatory challenges remain.

Two months after Pune-based Cosmos Bank became victim of a malware attack, in which hackers siphoned off over Rs 94 crore, the RBI has come out with new norms to scale up the cyber-security and resilience framework at the urban cooperative banks (UCBs).

RBI Governor Urjit Patel decided to follow \"wisdom of an owl\" as he went on to conduct the \"deep surgery\" initiated by his predecessor Raghuram Rajan to clamp down on loan defaulters.

The RBI's move to clean up bank balance sheets has made close to half a dozen banks nearly dysfunctional. There is little hope of their recovery in the near term.

Banks need to do a lot of work to secure their systems and customer data.

The blockchain is the invisible technology that is radically transforming the future of the world economy and gaining traction in the capital markets industries.

Steps that government, regulators and banks need to take to make the banking system more competitive, efficient and less fraud-prone.

\"How safe our technology is, is going to be an important risk for the industry to consider\", says Caldwell.

All eyes will be on Finance Mister Arun Jaitley today as he presents his fifth Union Budget-and the last full one for the Modi government before the general elections coming up next year.

The banks are likely to bear a higher burden of the deposit insurance if the government and the Reserve Bank of India (RBI) decides to hike the deposit insurance limit from the existing Rs 1 lakh under the new Financial Resolution Deposit Insurance Bill 2017.

The merger is intended to bring the number to PSU banks from 21 to at least 15. Meanwhile, SBI chairperson supported mergers on account for alleviating dependence on government for capital needs.

India is in the midst of change driven by technology. The biggest disruption is happening in the fintech sector as new businesses are emerging, be it robo advisory, P2P lending, block chain or wallets.

Here is a detailed account of the different ways to make digital payments and, more important, how secure are each one of these methods.

Finance Minister Arun Jaitley on Wednesday presented Union Budget 2017-18 in Lok Sabha. 

To promote a cashless economy, government, banks, financial institutions, payment intermediaries and companies will have to work together. All will need to make sure that the transformation of the Indian citizen from cash based economy to a cashless economy happens in a convenient and safe way.

Indian banks are battling numerous challenges, including digitisation, deteriorating asset quality, disruption from new financial sector players and, now, demonetisation. The 21st edition of the BT-KPMG Best Banks study identifies banks that have flourished despite the odds and raises a toast to those that are the best in class.

Axis Bank has emerged as best bank with best digital initiatives.

Outgoing Reserve Bank of India Governor Raghuram Rajan spoke to Business Today Editor Prosenjit Datta and Deputy Editor Anand Adhikari on how he was positioning the central bank as a knowledge institution to manage the change in monetary policy framework, and banking and finance.