Arnifi launches AI-powered banking, payments platform for corporates

Arnifi launches AI-powered banking, payments platform for corporates


Arnifi brings together banks, digital banking providers and payment gateways under one interface

Arnifi, the AI-powered global business setup and compliance platform, has launched its business banking and payments setup assistance platform in partnership with leading banks and financial institutions, including Mashreq Bank, First Abu Dhabi Bank, Wio Bank, Airwallex and RBC Royal Bank.

The platform brings together banks, digital banking providers and payment gateways under one interface. Trusted by over 1,100 businesses across global markets, Arnifi is helping founders simplify the process of setting up business banking services after company incorporation.

Through the platform, businesses can access traditional banks, digital banks and payment processors across key global jurisdictions. It is designed to solve one of the most common challenges faced by entrepreneurs after incorporation, which is opening and setting up a business bank account smoothly and efficiently, the company said.

Arnifi is also offering complimentary bank account opening assistance to the first 500 businesses. The support is available not only to companies incorporated through Arnifi, but also to businesses set up independently or through other service providers.

Manu Midha, Founder and CEO, Arnifi, said setting up a business bank account continues to be one of the biggest challenges for entities after company incorporation.

“Built in partnership with leading banks and financial institutions, the platform is designed to offer a seamless experience while strengthening Arnifi’s global business setup and compliance services,” he added.

Corporate Payment

Banking requirements and documentation often vary across institutions, making the account opening process lengthy and difficult for businesses to navigate.

Arnifi’s platform simplifies this process by helping businesses compare banking options based on account type, minimum balance requirements, maintenance fees, processing timelines and jurisdiction. The platform currently covers the UAE, Singapore and the Cayman Islands, and is expected to expand its footprint by the end of 2026.

Arnifi works with businesses across Saudi Arabia, Qatar, Oman, Bahrain, the United States and other emerging markets. Arnifi focuses on making expansion simple and predictable, helping companies move from planning to execution while staying compliant.

Published on June 8, 2026



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SEBI reviews broker net-worth norms, weighs IPO auction reforms

SEBI reviews broker net-worth norms, weighs IPO auction reforms


Securities and Exchange Board of India (SEBI) Chairman Tuhin Kanta Pandey, along with ICICI Bank Executive Director Rakesh Jha, lights a lamp as he graces the India Investor Conference 2026, organised by ICICI Securities, in Mumbai on Monday.
| Photo Credit:
ANI

The Securities and Exchange Board of India (SEBI) is reviewing capital requirements for stock brokers and examining reforms to price discovery mechanisms for IPOs and relisted securities as part of its next phase of market reforms, Chairman Tuhin Kanta Pandey said on Monday.

Speaking at the ICICI Securities India Investor Conference, Pandey said, “We are currently reviewing the framework for variable net worth requirements for stock brokers, so that capital requirements better reflect operational scale and risk.”

The regulator is also examining improvements to the pre-open call auction mechanism for IPOs and relisted securities to ensure more stable and efficient market openings. SEBI is working to ease compliance for research analysts, including rationalising call recording obligations in institutional interactions.

For mutual funds, SEBI is proposing a more practical framework for intraday borrowing, not just as a contingency tool, but as “an efficient mechanism for managing temporary liquidity mismatches.”

“The objective across these reforms is simple. Reduce friction. Improve clarity. And enable growth — without diluting safeguards,” Pandey said.

A working group is finalising operational details for a market-making framework aimed at improving liquidity in the corporate bond market. SEBI and the Reserve Bank of India are also working on introducing derivatives linked to corporate bond indices.

The regulator is simultaneously pursuing measures to improve access for overseas investors. SEBI is working with custodian banks and the RBI to substantially reduce timelines for foreign portfolio investor (FPI) registration and onboarding.

The reform push comes against the backdrop of rising household participation in financial markets. “India’s growth story today is not just about economic expansion. It is about formalisation. It is about the financialisation of savings. And importantly, it is about trust in institutions,” Pandey said.

“Capital markets are increasingly becoming a core avenue for household savings and wealth creation,” he said.

Household financial savings rose to 21.7 per cent of GDP in FY25 from around 20 per cent in FY23, while the number of investors in the securities market has reached about 145 million. Mutual fund assets have grown from ₹12 lakh crore to over ₹80 lakh crore, while market capitalisation has increased from 69 per cent of GDP a decade ago to around 128 per cent today.

Published on June 8, 2026



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Impact of India’s revised edible oil packaging order could be far wider: SEA

Impact of India’s revised edible oil packaging order could be far wider: SEA


Under the revised SOP, standard pack sizes have been prescribed for major edible oils
| Photo Credit:
branex

The Solvent Extractors’ Association of India (SEA) has said that the impact of the recent decision of the government to revise the standard operating procedure (SOP) for edible oil packaging and labelling could be far wider.

Complimenting the government and the Department of Consumer Affairs for this move, Sanjeev Asthana, President of the Solvent Extractors’ Association of India (SEA), said this may appear to be a packaging change at first glance, but the impact could be far wider. “It is a consumer-first initiative that will help reduce confusion and strengthen trust across the edible oil value chain, he said.

BV Mehta, Executive Director of SEA, said this is a fine example of constructive collaboration between the government and industry. It demonstrates that meaningful reforms can be achieved when stakeholders come together with a common objective.

Permitted standards

Under the revised SOP, standard pack sizes have been prescribed for major edible oils, which include palm oil, soybean oil, sunflower oil, mustard/rapeseed oil, groundnut oil, sesame oil, rice bran oil, cottonseed oil, and corn oil, as well as blended edible oils.

The permitted standard pack sizes include 500 ml, 1 litre, 2 litre, 3 litre, 4 litre, 5 litre, 15 litre / 15 kg and 20 litre /20 kg, while packs below 200 ml remain outside the standardisation framework. In addition, minor edible oils have been exempted from the standard pack size requirement.

All edible oil packages displaying quantity in litres or millilitres will also be required to clearly mention the equivalent weight. These new provisions will apply uniformly to both domestically manufactured and imported edible oils.

To facilitate smooth implementation, manufacturers, packers and importers will be provided a transition period of three months to comply with the new requirements. However, it’s clearly stated that businesses willing to adopt the prescribed standard pack sizes earlier may do so with immediate effect.

Published on June 8, 2026



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Tamil Nadu to recruit 15,000 electricity board staff and roll out anti-corruption tender reforms

Tamil Nadu to recruit 15,000 electricity board staff and roll out anti-corruption tender reforms


Tamil Nadu Electricity Minister R Nirmal Kumar announced that the state’s electricity board will recruit at least 15,000 permanent employees this year to address a manpower shortage of nearly 70,000 personnel.
| Photo Credit:
RAGU R/THE HINDU

Tamil Nadu Electricity Minister R Nirmal Kumar on Monday announced that the state’s electricity board will recruit at least 15,000 permanent employees this year to address severe manpower shortages in the power apparatus.

The Minister also revealed that a newly formulated three-committee tender policy has been implemented across all departments to curb rampant institutional corruption, a move estimated to save the state exchequer 35 per cent in procurement costs.

Addressing a press conference here, Kumar stated that the electricity department is currently grappling with a massive shortage of 70,000 personnel.

“We are in dire need of manpower. As a first step, we are preparing a proposal to recruit at least 15,000 permanent employees this year. This has been initiated under the directives of Chief Minister C Joseph Vijay. There will be no temporary or contractual appointments for these positions,” Kumar said, adding that a decision regarding the pending recruitment of 5,500 ‘Gangmen’ will also be announced within a few weeks after consulting the chief minister.

TNEB’s Gangman is primarily tasked with assisting linemen, digging pole pits, clearing vegetation, transporting equipment, and general physical upkeep of the local electrical infrastructure.

Promotion backlog cleared after years of delay

Highlighting the resolution of long-pending administrative issues, the minister noted that the government recently cleared promotions for 300 Assistant Engineers to Executive Engineers, a backlog that had been languishing for over 15 years due to protracted legal battles.

He questioned why employees were forced to approach courts for their rightful promotions under the previous regime and assured that all remaining promotional backlogs across various cadres — including the 2012 batch comprising over 700 personnel — are being cleared rapidly based on recent court guidelines.

New tender policy aimed at curbing corruption

Unveiling radical policy changes to check financial irregularities, Kumar claimed that the restructuring of the tender estimation policy has already plugged massive leakages.

“In the past, buffer margins of 30 to 35 per cent were deliberately built into tenders, leading to severe financial losses. For instance, in a single tender worth Rs 1,500 crore, irregularities and corruption worth Rs 397 crore were detected. Similarly, transformers worth Rs 8 lakh were routinely estimated at Rs 13 lakh,” the minister alleged.

To eliminate this, the government has cancelled older non-transparent tenders and institutionalised a mandate where three separate technical committees will independently evaluate market values and manufacturer rates before floating any new tender. Kumar added that a transparent, web-based application portal for solar power connectivity will be launched within days to eliminate middlemen and brokers who previously pocketed illicit commissions.

When asked about accountability for past financial discrepancies, Kumar stated that cases have already been registered with the CBI and multiple matters have been referred to the Vigilance department. On the alleged “missing coal” case raised during the transition of power, he stated that a comprehensive stock valuation across all departments is underway, and a clear picture will emerge in a few weeks.

No power shortage, outages linked to ageing infrastructure

Responding to queries regarding recent power outages and complaints of low voltage in Chennai amid intense summer heat, the minister clarified that Tamil Nadu does not suffer from a power shortage. “We actually have surplus power and are actively selling it to the central grid, generating additional revenue. The local disruptions are strictly due to equipment failure,” Kumar explained.

He revealed that over 60 to 70 per cent of the state’s 4.5 lakh transformers are more than 20 years old and struggle to handle heavy loads. “Special field teams have been deployed across the city to repair faults, with most issues being rectified within 40 minutes,” he said.

Conspiracy angle alleged in localised disruptions

The minister also disclosed a conspiracy angle behind certain localised power disruptions, stating that CCTV footage from some areas showed miscreants deliberately pulling out fuses and stealing equipment to repeatedly disrupt power supply.

“We have instructed officials to lodge formal police complaints, and we will release the CCTV footage to the public shortly,” he said.

Discom rescued from financial crisis, says minister

Lashing out at the previous administration, Kumar stated that the state’s power discom was left in a precarious financial condition. “The department was managed so poorly that if the debt had crossed Rs 3.5 lakh crore to Rs 4 lakh crore, the state would have been forced to privatise 50 to 60 per cent of its stakes and walk away. Our government stepped in at the right time to prevent that catastrophe,” he said.

Published on June 8, 2026



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फिटमेंट फैक्टर पर सबसे नया अपडेट, न्यूनतम बेसिक सैलरी में 92% से 283% तक उछाल की उम्मीद

फिटमेंट फैक्टर पर सबसे नया अपडेट, न्यूनतम बेसिक सैलरी में 92% से 283% तक उछाल की उम्मीद


8th Pay Commission: आठवें वेतन आयोग को लेकर पिछले कई दिनों से लगातार हलचल मची हुई है. लगातार बैठकों का दौर चलने के बाद कर्मचारी संगठनों से उनकी मांगे पूछी जा रही हैं. जिसके लिए आखिर तारीफ 31 मई थी. वहीं अब हाल ही में एक बार फिर से इसके लिए आखिरी तारीख बदल दी गई हैं. अब कर्मचारी अपने सुझाव, ज्ञापन और मांगें 15 जून 2026 तक भेज सकते हैं.

फिटमेंट फैक्टर पर अपडेट
इस समय सबसे ज्यादा चर्चा में फिटमेंट फैक्टर ही है, क्योंकि इसी के आधार पर कर्मचारियों की नई बेसिक सैलरी तय होगी. फिटमेंट फैक्टर एक गुणक होता है, जिससे मौजूदा बेसिक सैलरी को नई बेसिक सैलरी में बदला जाता है.

ये भी पढ़ें: LPG Price Hike: एलपीजी गैस सिलेंडर और होगा महंगा, केंद्र सरकार ने कर दिया साफ, कारण भी बता दिया

8वें वेतन आयोग की मांगें
8वें वेतन आयोग के लिए सरकार ने अभी तक कोई आधिकारिक फिटमेंट फैक्टर घोषित नहीं किया है. हालांकि, कर्मचारी संगठनों, पेंशनर्स के ग्रप्स और एक्सपर्ट्स ने अपनी-अपनी मांगें सरकार के सामने रखी हैं. फिलहाल फिटमेंट फैक्टर को लेकर 1.92 से 3.83 तक के प्रस्ताव सामने आए हैं. इससे साफ है कि कर्मचारियों की अपेक्षाएं काफी ज्यादा हैं, जबकि सरकार को वित्तीय बोझ को भी ध्यान में रखना होगा.

  • नेशनल काउंसिल ऑफ जॉइंट कंसल्टेटिव मशीनरी (JCM) के कर्मचारी पक्ष ने 3.83 फिटमेंट फैक्टर की मांग की है, जो अब तक की सबसे बड़ी मांगों में से एक है.
  • नेशनल पेंशनर्स ऑर्गेनाइजेशन (NPO) ने 3.25 और इंडियन ट्रेड यूनियन कांग्रेस (ITUC) ने 3.0 फिटमेंट फैक्टर का सुझाव दिया है.
  • जम्मू-कश्मीर के कई कर्मचारी संगठनों ने 2.86 से 3.68 के बीच फिटमेंट फैक्टर की मांग की है.
  • तो वहीं दूसरी तरफ, पूर्व वित्त सचिव सुभाष चंद्र गर्ग का मानना है कि सरकार आकिर में 1.92 फिटमेंट फैक्टर को मंजूरी दे सकती है.

ये भी पढ़ें: Rajesh Exports: गबन- हेराफेरी के आरोपों के बीच लगातार तीसरे दिन गिरे राजेश एक्सपोर्ट्स के शेयर, PLI स्कीम से भी हटाई जा सकती है कंपनी

यानी फिलहाल अलग-अलग पक्षों की अलग-अलग मांगें हैं, लेकिन अंतिम फैसला सरकार और 8वें वेतन आयोग की सिफारिशों के बाद ही होगा.

यदि इन संगठनों की बात मान ली जाती है तो मिनिमम सैलरी 18000 रुपये पाने वाले कर्मचारियों का वेतन कितना बढ़ेगा, आइये जानते हैं.

फिटमेंट फैक्टर संभावित नई बेसिक सैलरी
1.92 34,560 रुपये
2.57 46,260 रुपये
3.00 54,000 रुपये
3.25 58,500 रुपये
3.83 68,940 रुपये

इसका मतलब है कि मिनिमम बेसिक सैलरी में 92% से 283% तक बढ़ोतरी हो सकती है. जिसका असर पे मैट्रिक्स और भत्तों पर भी पड़ सकता है. 8वां वेतन आयोग मौजूदा पे मैट्रिक्स को बदलकर नया स्ट्रक्चर ला सकता है. सभी पे लेवल की बेसिक सैलरी में बराबरी से बढ़ोतरी होगी.

कब लागू होगा 8वां वेतन आयोग?
बता दें कि केंद्र सरकार ने 17 जनवरी 2025 को 8वें वेतन आयोग की घोषणा की थी. इसे 1 जनवरी 2026 से प्रभावी माना गया है. हालांकि, आयोग को अपनी रिपोर्ट देने के लिए 18 महीने का समय मिला है. इसलिए रिपोर्ट 2027 के मध्य तक आने की उम्मीद है. इसके बाद केंद्रीय मंत्रिमंडल की मंजूरी मिलने पर वास्तविक वेतन वृद्धि का लाभ 2027 के मध्य या 2028 की शुरुआत में मिल सकता है.



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SBI pays ₹8,813 crore dividend to government after strong FY26 performance

SBI pays ₹8,813 crore dividend to government after strong FY26 performance


In this image received on June 8, 2026, Union Finance Minister Nirmala Sitharaman receives a dividend cheque of Rs 8,813 crore for FY 2025-26 from SBI Chairman CS Setty during a meeting, in New Delhi.
| Photo Credit:
X via PTI Photo

State Bank of India (SBI) on Monday handed over a dividend cheque of Rs 8,813 crore for the financial year 2025-26 to Union Finance Minister Nirmala Sitharaman, according to the Ministry of Finance.

The dividend cheque was presented by SBI Chairman C S Setty to the Finance Minister.

“Smt Nirmala Sitharaman receives a dividend cheque of Rs 8,813 crore for FY 2025-26 from Shri C S Setty, Chairman, SBI,” the Ministry of Finance said in a post on X.

The dividend payout comes after the country’s largest lender reported a strong financial performance for FY26.

Earlier, SBI’s Central Board, at its meeting, declared a dividend of Rs 17.35 per equity share for the year ended March 31, 2026.

The Government of India holds an approximately 55 per cent stake in SBI, making it the largest shareholder in the bank.

Strong profitability drives dividend payout

SBI reported a net profit of Rs 80,032 crore for FY26, registering a growth of 12.88 per cent year-on-year.

For the fourth quarter of FY26, the bank posted a net profit of Rs 19,684 crore.

The bank’s operating profit for FY26 rose 11.25 per cent year-on-year to Rs 1,23,015 crore, reflecting strong business growth and operational performance.

SBI’s return on assets (ROA) for FY26 stood at 1.12 per cent, while return on equity (ROE) was reported at 18.57 per cent.

The bank’s net interest income (NII) for FY26 increased by 4.08 per cent compared with the previous year.

The whole bank net interest margin (NIM) for FY26 stood at 2.91 per cent, while the domestic NIM was 3.03 per cent.

For the fourth quarter of FY26, the whole bank NIM was reported at 2.81 per cent and the domestic NIM at 2.93 per cent.

Business growth and asset quality improve

SBI’s overall business crossed Rs 109 trillion during FY26. The bank’s total deposits stood at Rs 59.8 trillion, while advances reached Rs 49.3 trillion during the year. Its agriculture portfolio also crossed the Rs 4 trillion mark, highlighting continued growth in lending to the farm sector.

On the asset quality front, SBI reported further improvement in non-performing assets.

The gross non-performing asset (NPA) ratio improved by 33 basis points year-on-year to 1.49 per cent, while the net NPA ratio improved by 8 basis points to 0.39 per cent.

The dividend payout to the government comes amid the bank’s strong profitability, business growth and improvement in asset quality during FY26.

Published on June 8, 2026



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