SC verdict sets aside 2008 ruling of National Consumer Disputes Redressal Commission that had capped maximum interest chargeable by banks at 30% per annum for late credit card bill payments.
Reserve Bank of India imposes penalty of Rs 27.30 lakh on IndusInd Bank for non-compliance with certain provisions of norms related to 'interest rate on deposits'.
Reserve Bank of India slaps fine of Rs 20 lakh on Manappuram Finance for non-compliance with norms.
Punjab & Sind Bank’s maiden issuance of infra bonds carries a coupon rate of 7.74%; allotment of 10-year infra bonds to successful bidders to be done on Friday.
Govt appoints Rama Mohan Rao Amara as managing director of State Bank of India for a period of three years; he will fill the vacancy created by CS Setty, the current chairman of the bank.
Enforcement Directorate has restored properties worth Rs 22,280 crore from fugitive Vijay Mallya to Nirav Modi, Mehul Choksi and others, Finance Minister Nirmala Sitharaman said.
Gross NPAs of public sector banks has fallen from peak of 14.98% in March 2018 to decade low of 3.12% in September 2024.
A committee under SBI will examine and submit a fresh list of stressed accounts with banks for transfer to NCLT; NARCL has acquired 22 accounts with exposure of Rs 95,711 crore.
During April-September period of current fiscal, public sector banks recovered Rs 37,253 crore of bad loans.
Gross NPAs of private sector banks stood at Rs 1.34 lakh crore as on 30 September 2024, said MoS for Finance Pankaj Chaudhary; this as percentage of outstanding loan is 1.86% in private sector banks.
Sanjay Malhotra replaces Shaktikanta Das as RBI Governor, facing challenging task of taming inflation, speeding up growth and ensuring exchange rate stability.
Repo rate stays put at 6.5% for 11th straight time; RBI cuts CRR by 50 basis points and revises GDP and inflation forecast for FY25.
FM Nirmala Sitharaman rules out GDP slowdown in September quarter as being ‘systemic’; says economic activity in Q3, with better public expenditure, is likely to compensate for the moderation.
RBI’s approval is for Canara Bank to divest its 13% stake in Canara Robeco Asset Management Company and 14.5% in Canara HSBC Life Insurance Company through the IPO route.
Public sector banks have shown improvement in their capital adequacy ratio and gross non-performing assets position post-merger, Minister of State for Finance Pankaj Chaudhary said.
