Recently, the Reserve Bank of India (RBI) came up with uniform principles of dealing with claims made by deceased customers by banks, which is meant to bring about uniformity and equity among financial establishments. The new structure that will be fully applied by March 2026 is likely to help streamline claim settlements, minimize time delays and offer more relief to families in periods of need.
Economic indicators were also recorded as of August 2025 in India with mixed performances on the industrial side supported by regulatory forms. There was an increase in the Index of industrial Production (IIP) by 4.0% with much of the growth being influenced by a great performance in mining and infrastructure sectors. The consumer non-durables segment however reported a reduction indicating dampened demand in some of the consumption segments. Analysts are optimistic that the policy backing and demand during festive season in months ahead would assist in reviving consumer goods.
The RBI has also announced that there would be a special clearing in the Cheque Truncation System (CTS) on October 3, 2025. This is to be done as part of the conversion of the central bank to a continuous settlement system, which aims at increasing the efficiency of payments and minimizing system delays in cheques transactions.
Meanwhile, the Life Insurance Corporation of India (LIC) celebrated its 69 th foundation anniversary by emphasizing on a new customer-centric approach and digital growth. The largest insurance company in the Indian market that still commands the highest market share, LIC has been investing in technology-based solutions to promote claim settlements and the increase in accessibility among policyholders. Its reputation among the citizens has been established over the years even more confirming its leadership in the insurance arena.
In the foreign investment scene, the United States has become the leading provider of Foreign Direct Investment (FDI) equity inflows into India in the first quarter of FY 26. The US inflows were Rs48,104 crore, which was an impressive 282% upsurge over the same year. This boom highlights the increasing faith in the economic strength of India and the appeal of the country as an investment destination worldwide.
All these developments underscore the changes in the financial, industrial, and investment trajectory in India and point to high reforms, foreign investor interest, and institutional strength, as the country progresses towards FY26.
- The reserve bank of India (RBI) has introduced standardized lending rules to banks to handle the claims made by dead customers, and to be consistent and fair, to be adopted fully by March 2026.
- The new structure will make it easier to settle claims, reduce waiting periods and ease the burden in times of need on the family.
- Economic indicators in India in August 2025 are not doing well with Index of Industrial Production (IIP) increasing by 4.0% mainly because of the rise in the activities of the mining and infrastructure sectors but the consumer non-durables segment recorded a decline.
- Experts expect future policy support and demand during the festive season to drive improvement in consumer goods.
- RBI will have a special clearing under the Cheque Truncation System (CTS) on October 3, 2025, as part of the shift to continuous settlement mechanisms to promote the efficiency of payments.
- The 69th anniversary of the Life Insurance Corporation of India (LIC) is dedicated to customer experience and digital growth, securing its top position in the market share in the insurance industry with the help of technology-driven solutions to claim settlements.
- The United States emerged as the top generator of Foreign Direct
Month: Current Affairs - October 03, 2025
Category: Banking & Finance