RBI elevates Kesavan Ramachandran to position of executive director with effect from 1 July.
In a rare move, govt demotes Union Bank of India ED Pankaj Dwivedi; reverts him to previous post as GM in Punjab & Sind Bank.
RBI’s new provisioning norms for project financing to be effective from 1 October; will make it cheaper for lenders to provide loans for infrastructure and industrial projects like roads, ports and power plants.
From the current financial year, small finance banks are required to extend 60% of their total loans to the priority sector, down from the earlier mandate of 75%.
India’s retail inflation dips to 2.82% in May, the lowest since February 2019; fourth consecutive month when inflation has stayed below RBI’s median target of 4%.
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.
RBI raises loan-to-value ratio on gold loans up to Rs 2.5 lakh to 85% per borrower from the present 75%; says such small-ticket loans will not require credit appraisals.
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.
