Cross-border Financial News

The managing director of the International Monetary Fund (IMF) Kristalina Georgieva has publicly praised the deployment of Central Bank Digital Currencies (CBDCs) by more countries.

National Investigation Agency (NIA) on Sunday said it has filed a comprehensive charge-sheet in the NIA Special Court in Punjab's Mohali against Malkit Singh also known as Pistol in connection with a cross-border arms smuggling case. The case pertains to the cross-border smuggling of arms and ammunition over drones in the border area of Gurdaspur district According to the NIA, BSF authorities recovered a cache of firearms and ammunition from the Cremation ground in the area of village Bagtana Boharwala, Dera Baba Nanak, Batala, Punjab.

₹15 crore, and raise it to ₹25 crore by 31 March, 2026. According to Movin Jain, founder of Skydo, a cross-border payments company, the neworth criterion may burden some startups. “But I do feel that it is important because the RBI recognizes that unless you have strong financials, it is difficult to get assurance to consumers i.e.

Financial authorities continue to tip stablecoins as a pathway to better cross-border payments but a new report shows that regulations, competition, and network scale pose threats to wider adoption.

Reserve Bank of India (RBI) on Tuesday issued regulations aimed at governing entities that facilitate payment and settlement for online cross-border export/import transactions. These regulations encompass Payment Aggregators (PAs), which are entities that support the processing of domestic transactions in online mode. The central bank's regulations aim to bring all entities involved in facilitating cross-border payment transactions for the import and export of goods and services under direct RBI regulation, considering the developments in cross-border payments.

JPMorgan Chase & Co.’s digital token, JPM Coin, currently handles $1 billion worth of daily transactions, Global Head of Payments, Takis Georgakopoulos revealed.

A Singaporean payments firm has sealed a “cross-border” digital yuan cooperation deal with a major Chinese bank, in another breakthrough for the CBDC.

Amritsar and seizure of 12 kilograms of heroin. Announcing the development in a post on X, Punjab Director General of Police Gaurav Yadav said the narcotic network used drones to transport drugs from Pakistan. «Big blow to trans border narcotic network: SSOC (State Special Operation Cell) Amritsar has busted a cross-border heroin smuggling racket and arrested one person and recovered 12 kg heroin,» he said.

JPMorgan’s Onyx Coin Systems has scored another win in the Middle East with the completion of a blockchain-based cross-border payments pilot project with First Abu Dhabi Bank (FAB). The pilot phase was “executed seamlessly with satisfactory response times,” according to a statement. 

Denis Beau, the first deputy governor of Banque de France has referred to Central Bank Digital Currencies (CBDCs) as a foundation for a new global monetary system.

PTI. The pact will be signed on the UAE’s development of domestic card scheme based on India's RuPay debit and credit card stack, the PTI report said citing an official. The agreement will be signed in the presence of commerce and industry minister Piyush Goyal, who is leading a business delegation to Abu Dhabi from October 5 to October 6. India and the UAE will discuss issues, and challenges pertaining to existing investments in each other's countries, the commerce ministry said in a statement.

NPCI International Payments Ltd, the international arm of the National Payment Corporation of India, will ink an agreement with Al Etihad Payments on Thursday in Abu Dhabi to facilitate cross-border transactions, an official said. The memorandum of understanding (MoU) aims to develop the domestic card scheme of the UAE based on India's RuPay debit and credit card stack, the official added.

India should “absolutely” consider the adoption of the UNCITRAL Model Law on Cross-Border Insolvency (MLCBI) in the next version of its IBC, and mull ways to accelerate its domestic insolvency processes, a paper released by the Insolvency and Bankruptcy Board of India (IBBI) has said.

Key Takeaways

BSF) has deployed drones with night vision capabilities for its six Batallion troops.

Project Mariana was developed jointly by three BIS Innovation Hub centres in Switzerland, Singapore and Europe, together with Bank of France, Monetary Authority of Singapore and Swiss National Bank.The project's proof of concept successfully tested the cross-border trading and settlement of hypothetical euro, Singapore dollar and Swiss franc wCBDCs between simulated financial institutions. The DeFi element was provided by an Automated Market Maker, which is a specific type of decentralised exchange to trade and settle spot FX transactions automatically.While not endorsing the use of DeFi, the BIS says these protocols could be used by the next generation of financial market infrastructures facilitating cross-border trading and settlement between financial institutions."As tokenisation and DeFi technologies are still nascent, further research and experimentation is needed," emphasizes the BIS.

The Bank for International Settlements (BIS) and the central banks of France, Singapore and Switzerland concluded a joint test of the cross-border trading and settlement of wholesale central bank digital currencies (CBDCs). Banque de France issued the report on Sept. 28. 

The Bank for International Settlements (BIS) and central banks of France, Singapore, and Switzerland have jointly announced a successful test of cross-border trading and settlement for wholesale central bank digital currencies (wCBDCs).

Bahrain-based Bank ABC will use JPMorgan’s Onyx Coin Systems for blockchain-based cross-border payments in a soft, or limited, launch. The new service will be more cost effective and reduce settlement times relative to traditional solutions.

terrorist and eight terror associates, including two women, involved in cross-border smuggling of arms and ammunition were arrested in separate operations as security forces unearthed two terror modules in Jammu and Kashmir's Baramulla district, police said on Tuesday.

India and Nepal approved plans to enhance their cross-border transmission infrastructure to boost electricity trade during 14th meeting of Joint Technical Team (JTT), reported India Narrative. During the JTT meeting under Energy Secretary Level Joint Steering Committee (JSC) held in New Delhi on September 20, the two nations reached an understanding to expand capacity of the 400kV Dhalkebar-Muzaffarpur Cross Border Transmission Line and speed up the completion of smaller capacity cross-border power lines that are currently under construction. Joint secretary at Ministry of Energy, Water Resources and Irrigation Sandeep Kumra Dev said, "The understanding will go into implementation, once the next JSC meeting endorses the understanding," reported India Narrative.