Banking fraud incidents have increased but the amount involved have more than halved in FY2021-22, RBI data showed.
Punjab National Bank will now offer a maximum interest rate of 7.25% for general public, 7.75% for elderly individuals and 8.05% for super senior citizens on deposits that mature in 666 days. The increase is by 95 basis points.
HDFC Bank plans recovery of credit card biz after RBI lifts ban in August last year; is in final stages to develop new digital credit card to pull in younger customers.
ICRA upgrades outlook on banking sector to ‘positive’ from ‘stable’ on expectation that there would be healthy loan growth through next fiscal, along with benign asset quality pressures.
IDFC First Bank waives charges on number of customer-centric services such as cash deposits, withdrawals, demand drafts, IMPS and SMS alerts.
After HDFC Bank and SBI, ICICI Bank has raised interest rates on fixed deposits under Rs 2 crore with effect from 16 December; the hike has come a month after the last revision.
Shorter-duration MCLRs are in range of 7.85-8.30%; MCLR for two years is at 8.50% while for the three-year tenure it stands at 8.60%.
Axis Bank offers interest rates that range between 3.5% and 7% for general public on deposits maturing in 7 days to 10 years.
HDFC Bank hikes most of its retail fixed deposit rates by 40-75 basis points, with effect from 14 December.
State Bank of India has raised interest rates on fixed deposits ranging from 25 basis points to 65 basis points, with effect from 13 December.
RBI decides to restore market trading hours to pre-pandemic timings, with effect from 12 December.
Loans have become costlier as some banks have hiked their benchmark lending rates soon after the RBI announced a 35 basis points increase in repo rate
RBI is looking at technology and legal provisions to ensure that central bank digital currency transactions are anonymous, Deputy Governor T Rabi Sankar said.
IDFC First Bank and NASSCOM Centre of Excellence have partnered to grow the innovation ecosystem through an exclusive range of banking solutions.
Canara Bank has won the ‘Banker's Bank of the Year Award 2022’ for the Indian segment of the Global Banking Summit.
