RBI bought $22.2 bn and sold $28.3 bn in May; rupee sank to record low of 96.96 per dollar on 20 May amid surge in oil prices.
MoS for Finance Pankaj Chaudhary said 18,021 complaints against banks regarding recovery agencies had more than doubled in FY26 over year-ago.
Banks, NBFCs, ARCs, credit information companies and other regulated entities should set up processes to manage data risk.
Merchandise trade deficit widened to $27.9 bn in May ; balance of payments posted a deficit of $4.4 bn.
Indian Bank has raised $140 mn in FCNR deposits; has pipeline of $1 billion, says MD and CEO Binod Kumar.
RBI approves Mahesh Muralidhar Pai’s appointment as MD and CEO of South Indian Bank for three years, effective 1 October; he is currently CGM at Canara Bank.
Punjab & Sind Bank receives licence from IFSCA to establish an IBU at GIFT City, Gandhinagar.
Bank of Baroda reaches an out-of-court settlement with NMC group and its administrators in Abu Dhabi and London.
Microfinance borrowers are less leveraged and their numbers have shrank while lending to sector has grown, says RBI’s Financial Stability Report; asset quality has also improved.
Retail and MSME loans see above-average growth and asset quality remains contained; risks may increase due to conflict in West Asia and borrower cash flows can get impacted, says RBI in Financial Stability Report.
Norms include compensation mechanism for small-value digital frauds; RBI also covers fraudulent transactions involving credit cards.
RBI sticks to Rs 1 lakh crore and above as definition for upper-layer NBFCs; Tata Sons listing a must under this but silence on indirect receipt of funds provides hope of a skip.
Banks must ensure that any artificial intelligence they deploy can be instantly overridden, suspended or deactivated through “kill-switch arrangements”.
UCO Bank’s Rajendra Kumar Saboo has been given the additional charge of MD and CEO until 31 August 2026.
State Bank of India board gives approval for Rs 60,000 crore fundraising in FY27 through issuances in rupee and foreign currencies; funds to support business growth and shore up capital base.
