Reserve Bank of India imposes fine of Rs 39 lakh on Citibank N.A. for non-compliance with directions pertaining to large exposures framework and delay in furnishing of credit information to CICs.
The reduced rates apply to a wide range of products, including, auto, education and personal loans; PNB revised home loan rate to 8.15% under various schemes.
Punjab National Bank reports fraud of Rs 270.57 crore by Odisha-based Gupta Power Infrastructure to the RBI; loan was given by bank’s Station Square branch in Bhubaneswar.
SBI Cards and Payment Services has appointed Salila Pande as the managing director and CEO for a period of two years, with effect from 1 April 2025.
Private lender Karnataka Bank has requested for reversal of suspicious cross border UPI transaction of Rs 18.87 crore to the Reserve Bank of India.
New India Cooperative Bank official arrested for allegedly embezzling Rs 122 crore has admitted to giving Rs 70 crore to a real estate developer to complete an SRA project in Charkop in Kandivali.
Mumbai police arrests Hitesh Mehta, former GM and head of accounts of New India Cooperative Bank, for allegedly siphoning Rs 122 crore from the lender.
SBI’s revised lending rates follow RBI’s cut in the policy repo rate by 25 basis points; bank, however, keeps MCLR and BPLR unchanged.
Reserve Bank of India slaps penalty of Rs 61.40 lakh on Nainital Bank and Rs 6.70 lakh on Ujjivan Small Finance Bank for contravention of regulatory norms; Shriram Finance fined Rs 5.80 lakh.
Bank of Baroda’s board has approved raising capital up to Rs 8,500 crore through common equity shares to support business growth and meet regulatory norms.
Reserve Bank of India has lifted the more than nine-month old ban on Kotak Mahindra Bank, allowing it to issue new credit cards and onboard new customers through online and mobile banking channels.
Inflation dips for third straight month, mainly due to lower food prices; provides RBI more space for doing follow-up repo rate cut in April policy, after lowering it by 25 basis points last week.
Minister of state for corporate affairs Harsh Malhotra also said that 2,707 cases have ended in liquidation orders.
RBI Governor Sanjay Malhotra says focus should be on medium- to long-term changes in rupee’s value; central bank doesn’t target a particular “price level” of the rupee.
Implementation of liquidity coverage ratio, project finance and expected credit loss norms deferred by at least a year; central bank to keep in view benefits and costs of every regulation, says RBI Governor Sanjay Malhotra.
