Buoyant domestic demand and higher capacity utilisation in manufacturing sector prompts RBI to up GDP growth projection in FY24 to 7% from 6.5% earlier.
RBI retains retail inflation projection for FY24 at 5.4% but says inflation may see an uptick in November and December due to pressure on food prices.
RBI raises UPI payment limit to hospitals and educational institutions to Rs 5 lakh from Rs 1 lakh; hikes cap for e-mandates for recurring payments to Rs 1 lakh.
Currently, OTP-based additional factor of authentication was needed when an auto payment via UPI exceeded the Rs 15,000 limit.
Warburg Pincus offloads 9.17 crore shares of IDFC First Bank through block deal; transaction done at Rs 86.1 per share.
CBI’s needle of suspicion has gone on thousands of accounts which were opened around the time the IMPS transactions started and money transfers were received.
Paytm will seek to expand its portfolio of high-ticket personal and commercial loans while scaling down on loans under Rs 50,000.
Scheduled commercial banks recover Rs 7.15 lakh crore of NPAs during last five financial years, govt informs Parliament.
Enforcement Directorate confiscates assets worth Rs 15,186.64 crore under PMLA and almost all of these have been restituted to public sector banks, Finance Minister Nirmala Sitharaman said.
CBI conducts searches at 13 locations in West Bengal and Karnataka; action follows FIR registered on complaint from UCO Bank against two support engineers and other unknown persons.
CSB Bank promoter receives approval from RBI to retain 26% stake in the lender, instead of 15% as advised by the central bank earlier.
RBI imposes penalty of Rs 10,000 each on HDFC Bank and Bank of America for violation of certain norms; also fines 5 cooperative banks.
Govt issues fresh RFP for appointment of asset valuer for strategic sale of IDBI Bank, hoping that this would generate more bidder interest.
Canara Bank plans to buy out stakes of Bank of Baroda and DBS Bank in Canbank Computer Services; receives RBI nod for divesting 70% stake in Canbank Factors.
“IDBI Bank is LIC’s number one partner in bancassurance. We will retain some stake in IDBI Bank so that the bancassurance partnership continues," chairman Siddhartha Mohanty said.
