Expansions, layoffs, funding, leadership moves, and policy shifts — with our take on what it means for hiring in India, today and over the next five years.
The Reserve Bank of India's governor has indicated it is too early to finalise any decision on introducing merchant discount rates on UPI transactions, even as legislative groundwork appears to be underway. The government is reportedly moving to amend existing laws to permit such charges on select UPI payments, a shift that could alter the economics of India's dominant digital payments ecosystem. The central bank, meanwhile, continues to prioritise expanding UPI's reach across the country.
Financial regulators in India are considering bringing insurance surety bond exposures into a central credit database, currently overseen by the RBI's CRILC framework. The move aims to give banks and rating agencies a fuller picture of how much corporate debt is actually outstanding, including contingent liabilities that previously flew under the radar. Government departments have increasingly been accepting these bonds in place of traditional bank guarantees, making the regulatory gap more consequential.
India's telecom regulator has proposed quality-of-service guidelines specifically for 5G network slicing, requiring operators to treat each network slice as a separate tariff category and disclose the measured speeds tied to each. Operators are also now allowed to price 4G and 5G services differently. These rules are designed to protect consumers from service degradation as 5G networks scale up across the country.
The Reserve Bank of India has maintained its repo rate at 5.25 percent, choosing policy continuity over adjustment. Alongside this, the central bank revised its growth outlook upward and trimmed its inflation forecast, projecting a more stable macroeconomic environment. Regulators also signalled new transparency measures for the banking sector, which the industry has broadly welcomed.
RBI Governor Sanjay Malhotra indicated that any discussion around introducing merchant discount rates on UPI payments is far from a settled matter, describing the conversation as premature. The statement comes as industry stakeholders debate whether levying MDR on UPI could reshape the economics of India's digital payments ecosystem. The outcome of this policy question has significant implications for how fintechs, banks, and payment aggregators hire and invest going forward.
India's food safety regulator FSSAI has directed energy drink manufacturers to drop the word 'energy' from their product labels, affecting major players operating in the country. The ruling has triggered immediate trade disruption, with distributors holding back stock amid uncertainty. Brands now face a costly and complex exercise in rebranding, reformulation, and repositioning across their entire supply chain.
After a gap of roughly two decades, the Reserve Bank of India has announced it will once again grant licenses to urban cooperative banks. Eligible credit societies must demonstrate a minimum capital base of Rs 300 crore and deposits of at least Rs 10,000 crore, along with a clean five-year financial track record. Multi-state credit societies with over ten years of operation are in the frame, and their directors will face a fit-and-proper scrutiny before any approval is granted.
India's telecom regulator has released draft quality-of-service guidelines that would officially permit mobile network slicing, a technology that lets operators partition their networks to deliver different performance tiers for different services. The rules would allow differential pricing across service categories and require that all tariff plans state measurable speed commitments. Stakeholders have until August 26 to submit feedback on the proposed framework.
India's Supreme Court has directed the Reserve Bank of India to develop standardised operating procedures for banks to combat the rising tide of digital arrest scams that have defrauded thousands of citizens. The court is also pushing for a formal framework to compensate victims of such cyber fraud. This regulatory push signals a significant tightening of compliance and consumer protection standards across the banking and financial sector.
The World Gold Council is lobbying for gold to be classified as a strategic mineral in India, a move that could fast-track mining approvals and reduce the country's heavy dependence on gold imports. The proposal also includes simplifying India's gold monetization schemes to unlock value from the enormous stockpile of gold held by Indian households. Central banks worldwide are expected to keep accumulating gold amid ongoing geopolitical and economic uncertainty.
The Reserve Bank of India is preparing to publish its updated list of NBFCs classified under the 'upper layer' tier of its scale-based regulatory framework. Companies that land on this list will be obligated to list their shares on public markets, adding a new layer of governance and disclosure requirements. The list has not been updated since early 2025, and prominent conglomerates such as Tata Sons are being watched closely for potential inclusion.
The Reserve Bank of India has held its benchmark repo rate unchanged for the fourth consecutive policy meeting, keeping home loan interest rates stable. Industry bodies representing real estate developers have welcomed the move, saying it gives both builders and buyers greater confidence to proceed with projects and purchases. The central bank also nudged its GDP growth forecast slightly higher while trimming its inflation outlook.