RBI slaps penalties totalling Rs 2.49 crore on three banks for various non-compliances; banks fined are Dhanlaxmi Bank, Punjab and Sind Bank and ESAF Small Finance Bank.
This is the second extension given by the Cabinet’s Appointments Committee to RBI Deputy Governor Michael Patra; on 15 January 2023, he was re-appointed for a year.
RBI asks Federal Bank to submit at least two new names for MD & CEO post; on 6 October, the bank had written to RBI seeking one-year extension for current CEO Shyam Srinivasan
Bank of Maharashtra cuts home loan rate by 15 basis points to 8.35% as part of its new year offer; processing fees on home loans also waived.
RBI says some concerns have emerged on the conduct of credit information companies during its supervisory assessment.
Punjab National Bank’s board has approved a proposal to raise Rs 7,500 crore capital through QIP or FPO.
RBI extends deadline for banks and NBFCs to implement modified norms for levying penal charges in loan accounts; to come into effect from 1 April 2024.
Government hikes interest rates on Sukanya Samriddhi scheme by 20 basis points and three-year term deposit scheme by 10 basis points for the January-March quarter.
In RBI’s list of systematically important banks, SBI and HDFC Bank move up a ladder and will have to maintain higher capital; ICICI Bank retains same bucket as last year.
Net NPA ratio of banks declined to multi-year low of 0.8% and India's domestic financial system remains resilient, said RBI’s Financial Stability Report.
RBI has given its approval for the reverse merger of IDFC Ltd with its banking subsidiary IDFC First Bank.
RBI has approved the appointment of C S Rajan as chairman of Kotak Mahindra Bank for two years.
Canara Bank’s board has given in-principle approval to initiate the process of launching an IPO for its mutual fund subsidiary, Canara Robeco Asset Management Company.
SBI raises interest rates on fixed deposits by up to 50 basis points across various tenors; could trigger a similar move from other banks.
RBI, HDFC Bank and ICICI Bank receive 11 bomb threats in Mumbai but police find no suspicious object at these locations; sender of mail demands resignations of FM Nirmala Sitharaman and RBI Governor Shaktikanta Das.
