ED files FIR against certain entities and some IndusInd Bank staff over alleged financial irregularities in remittances for import transactions during 2011-14; bank had informed regulatory authorities and lodged police complaint in 2015.
India’s retail inflation eased marginally to 7.01% in June from 7.04% in May, but remained higher than RBI’s upper tolerance limit of 6% for sixth consecutive month; expect further rate hikes by RBI.
RBI asks banks to put in place a mechanism to settle international trade in rupees, a move experts say will facilitate trade with Russia which is hit by sanctions after the Ukraine war.
Rupee closes on new low of 79.44 against US dollar even as greenback continues to make gains against most currencies.
Rating agency ICRA expects banks to remain profitable in the first quarter of FY23, despite mark-to-market losses of up to Rs 13,000 crore due to rising bond yields.
For HDFC Bank customers, interest rate on home, car, personal and other loans will become costlier; this is the bank’s third interest rate hike since May, lifting MCLR by 0.80% during this period.
With Indian currency sliding to new lows this month, RBI announces slew of measures to increase dollar supply and prop up rupee.
RBI fines private sector lenders Kotak Mahindra Bank and Indusind Bank for failing to comply with certain regulatory guidelines; also imposed penalises four co-operative banks.
Muthoot plans to open 150 branches across southern and northern parts of India within two months, adding to its existing 4,617-strong network; seeks to post 12-15% growth in gold loan business in FY23.
Indian rupee tumbles to lowest against US dollar amid record trade deficit, rising concerns of high oil prices and heavy foreign fund outflows.
Major step cleared towards completion of merger process; combined entity of HDFC Bank with parent and mortgage lender HDFC will widen lead with rivals like ICICI Bank and Axis Bank.
Banking frauds involving sums of over Rs 100 crore have seen a significant fall, with reported cases dropping to amounts worth Rs 41,000 crore in 2021-22 compared from Rs 1.05 lakh crore a year ago.
State Bank of India has crossed the Rs 1 trillion-mark in gold loans last week and clinched 24% of the market share in this segment.
Gross non-performing asset ratio of banks has fallen from 7.4% in March 2021 to a six-year low of 5.9% in March 2022, RBI said in its latest financial stability report.
Despite rising inflation and interest rates, the government has kept rates on small savings schemes unchanged for the quarter ended 30 September.
