RBI cancels certificates of registration of 5 NBFCs for violation of norms related to outsourcing and fair practices code in their digital lending operations through third-party apps.
Headed by former RBI deputy governor B P Kanungo, the six-member committee will submit a report within three months from the date of its first meeting.
Punjab National Bank also collected Rs 239.09 crore as penalty imposed on customers who failed to maintain minimum balance or quarterly/monthly average balance in their bank accounts
There will be some hike but how much I will not be able to tell now, said RBI Governor Shaktikanta Das; government likely to stick to fiscal deficit target.
RBI board approves transfer of Rs 30,307 cr as surplus to central government for accounting year 2021-22 while deciding to maintain contingency risk buffer at 5.50%.
IDBI Bank to sell entire stake in Ageas Federal Life Insurance Company to JV partner Ageas for Rs 580.20 cr; Ageas will become first foreign investor to hold maximum FDI permissible limit of 74%.
Waiting till June for the scheduled monetary policy to raise interest rate would have meant losing time and opting for a stronger action, RBI Governor Shaktikanta Das said.
Even as RBI is expected to carry out a series of rate hikes to tame rising inflation, monetary policy committee member Jayant Varma wants it to be raised by 100 basis points very soon.
RBI rejects applications for on-tap licences of six firms, including that of Flipkart founder Sachin Bansal.
IDBI Bank has divested its entire stake of 19.18% in ARCIL to Avenue India Resurgence for an undisclosed amount.
State Bank of India hikes MCLR by 10 basis points across tenures; joins long list of banks who have lifted their lending rates, raising concerns among borrowers that loans would get costlier as RBI sets out to tame inflation.
Bank of Baroda flip-flops on lending rate, giving up policy of bringing down home loan pricing in matter of days as RBI hiked repo.
Union Bank of India Q4 net up 8.3% to Rs 1,440 cr; largely led by 21% stake sale in IndiaFirst Life Insurance to Bank of Baroda for Rs 766 cr.
Supreme Court allows lenders to proceed against promoters, directors and chairman of the company who have given personal guarantees to get corporate loans.
State Bank of India, which reported its highest ever quarterly profit, is looking to grow its loan book to double digit in FY23 with companies beginning their investment cycles.
