RBI surprises with early shutting of FCNR swap window

RBI advances by a month the closure of its special FCNR(B) deposit swap facility after inflows cross over $50 bn; announcement comes days after RBI Governor Sanjay Malhotra says no proposal to prematuredly end the special scheme.


SBI’s sight on $10bn FCNR deposits under RBI scheme sends mixed signals

After mopping up $6bn, SBI expects to add $4bn in final two months of RBI’s swap window. Is demand for FCNR(B) deposits slowing amid over-dependence on ME and tax issues in other states? SBI Chairman Setty says flows are more spread out, unlike in 2013. 

RBI keeps repo rate unchanged; cuts inflation, raises GDP forecast

Repo rate remains unchanged at 5.25% for 4th consecutive time; inflation forecast lowered to 5% for FY27 and GDP growth increased to 6.7%.


Banks collect Rs 7,087 crore for minimum balance in FY26

Private banks collected Rs 4,948.71 crore in FY26 from customers for failing to maintain minimum balance in their savings and current accounts; HDFC and Axis Bank accounted for 58% of this.


RBI allows banks to offer differential rates on bulk deposits

Post HDFC Bank rate row, RBI allows differential bulk deposit rates based on their run-off risk profile; lenders, however, have to offer uniform interest rates on deposits of similar amount.

Bank of Baroda hit by cyberattack, initiates forensic investigation

Bank of Baroda says bank’s core banking systems not accessed and continue to remain secure; breached data includes customer details and identification documents, says cybersecurity activist Srikanth.


More News

RBI Governor Malhotra faces first big test amid US-Iran war

Sanjay Malhotra and the MPC members may find small space for an interest rate pause this time but a credit cycle reversal is inevitable down the line.


SBI prepares for FY27 amid US-Iran war, challenging lending margins turf

SBI delivers mixed performance in Q4 with loan growth strong but margins seeing contraction; Chairman CS  Setty sticks to FY27 guidance on loan growth and domestic NIM.