RBI directs banks and NBFCs to complete classification process within six months of loan account turning NPA; lenders to examine ‘wilful default’ aspect in all NPA accounts with outstanding amounts of Rs 25 lakh and above.
Public sector banks charged Rs 8,500 crore from depositors for not maintaining minimum monthly balance in accounts between FY20 and FY24.
Canara Robeco AMC’s IPO is planned for launch in Q4 of FY25, says Canara Bank MD Satyanarayana Raju; Canara HSBC Life Insurance to list in Q1 of FY26.
Individual investor's share in equity cash segment turnover is at 35.9% in FY24, says Economic Survey; annual net SIP flows double past three years, from Rs 0.96 lakh crore in FY21 to Rs 2 lakh crore in FY24.
Budget for FY25 focuses on employment, skilling, MSME and middle class, says FM Nirmala Sitharaman; capital gains tax and infrastructure are other highlights.
Indian economy needs to generate nearly 78.5 lakh jobs annually until 2030 in the non-farm sector to keep pace with the rising workforce, the Economic Survey 2024 has highlighted.
India's GDP is projected to grow at 6.5% to 7% in FY2025, according to Economic Survey for 2023-24.
RBI approves appointment of KVS Manian as MD and CEO of Federal Bank for a period of three years from 23 September; he succeeds Shyam Srinivasan.
After years of wait, IDBI Bank’s stake sale process has gathered fresh momentum with RBI reportedly giving its 'fit and proper' approval on bidders for the lender.
Reserve Bank of India directs banks and other financial institutions to give defaulting borrowers at least 21 days to respond before classifying them as fraud accounts.
The 444-day deposit scheme is named “Amrit Vrishti and offers interest rate of 7.25%; this is 15 basis points more than SBI’s prevailing highest rate.
Bank of Baroda pays dividend cheque of Rs 2,514.22 crore and Canara Bank Rs 1,838.15 crore for FY24 to government; other two banks are Indian Bank and Bank of India.
RBI Deputy Governor Rajeshwar Rao flags concerns over quality of disclosures made by some NBFCs.
Reserve Bank of India imposes monetary penalty of Rs 1.31 crore on Punjab National Bank for violating norms related to loans and KYC.
Punjab National Bank's global loan book grows 12.7% YoY to Rs 10.3 lakh crore in Q1; deposits up 8.5%.
