Cushioned by a cooling inflation, the RBI-led MPC has cut repo rate to 5.5% to give growth a big push. CRR cut by 1% is to boost liquidity. Inflation forecast for FY26 is revised downwards while GDP projection is retained despite global uncertainties.
Annapurna Finance had applied for setting up universal bank under the guidelines for 'on tap' licensing of universal banks; RBI said the applicant was not found suitable for granting of in-principle approval.
Soon after RBI slashes repo rate, Punjab National Bank announces reduction in lending rate by 50 basis points; other banks are expected to follow suit.
Govt extends tenure of Punjab & Sind Bank MD and CEO Swarup Kumar Saha until February-end of 2027.
RBI imposes Rs 54.78 crore in penalties on 353 banks and other regulated entities in FY25 for contraventions of statutory provisions and regulatory directions.
RBI’s balance sheet increases to Rs 76,25,421.93 crore as on 31 March 2025, from Rs 70,47,703.21 crore a year ago; leads to dividend of Rs 2.69 lakh crore for the central government.
The officials restrained by Sebi are former IndusInd Bank CEO Sumant Kathpalia, Deputy CEO Arun Khurana, treasury operations head Sushant Sourav, GMG operations head Rohan Jathanna and chief administrative officer - consumer banking operations Anil Marco Rao.
RBI slaps penalties on Union Bank of India and Transactree Technologies for non-compliance with certain regulatory norms.
RBI’s record dividend payment is 27.4% higher than FY24 and will help exchequer tide over possible shortfall in tax collections due to weak growth amid tariffs imposed by US; will also help meet the government's fiscal target of 4.4% for FY25.
A day after IndusInd Bank acknowledged that frauds by employees had a role to play in accounting irregularities, Ashok Hinduja, chairman of the promoter group IIHL, expressed confidence that the interim management’s ‘swift’ clean-up would help rebuild trust in the lender.
Reserve Bank of India has proposed easing norms for investments by banks, NBFCs and other regulated entities in alternate investment funds.
Enforcement Directorate arrests former UCO Bank CMD Subodh Kumar Goel in alleged bank loan fraud case of over Rs 6,200 crore linked to a Kolkata-based company.
Reserve Bank of India has fined Yes Bank and Deutsche Bank AG, India for non-compliance with certain regulatory norms.
In a clear sign that interest rates are falling, SBI has reduced deposit rates by 20 basis points in all maturity buckets.
IndusInd Bank’s internal audit department also finds Rs 674 crore has been incorrectly recorded as interest in the microfinance loan book over three quarters of FY25.
