RBI asks banks to urgently reduce number of inoperative or frozen accounts; banks need to take necessary steps and also report their numbers quarterly.
Total value of Rs 2,000 banknotes in circulation declines to Rs 6,839 crore as on 29 November; this was Rs 3.56 trillion on 19 May 2023.
Out of 500 new branches planned in FY25, 135 already opened till October-end, Minister of State for Finance Pankaj Chaudhary.
Zavron Finance has violated RBI guidelines on code of conduct in outsourcing of financial services in its digital lending operations; functions include credit appraisal, loan disbursal, fixing of rate of interest and KYC verification process.
State Bank of India launches nation-wide drive to raise awareness about importance of inoperative account activation.
Banks have seen a slower growth in personal loans while credit to industry and agriculture have gone up in October 2024, latest RBI data shows.
RBL Bank and Bajaj Finance end their 8-year-old partnership to roll out co-branded credit cards; bank says synergies as worked out originally have undergone significant changes.
India’s economy records weakest growth rate in nearly two years, shocking even economists who had anticipated a slowdown in Q2 but not to this extent.
After interviewing 15 candidates, Financial Services Institutions Bureau recommends Binod Kumar for post of MD and CEO of Indian Bank; he is currently serving as ED of Punjab National Bank.
State Bank of India has announced a 0.05% increase in the marginal cost of fund-based lending rate in some tenors.
RBI retains SBI, HDFC Bank, ICICI Bank in domestic systemically important banks list; they will have to adhere to specific capital requirements that aim to safeguard the financial system.
MTNL’s total financial debt stands at Rs 32,097.28 crore, 40 times more than its consolidated annual income of Rs 798 crore.
Retail inflation soars to 14-month high of 6.21% in October, breaching RBI’s upper tolerance level and dashing hopes of early interest-rate cut following US Federal Reserve’s monetary easing policy.
Reserve Bank of India issues operational framework to allow foreign portfolio investors to convert their investments to foreign direct investment if the entity breaches the prescribed 10% limit.
RBI slaps penalty of Rs 59.20 lakh on South Indian Bank for non-compliance with certain directions on 'interest rate on deposits' and 'customer service in banks'.
