With Michael Debabrata Patra’s extended term as RBI deputy governor coming to an end, the central bank has reshuffled portfolios of its deputy governors.
RBI’s first daily variable rate repo auction to begin on 16 Jan for an amount of Rs 50,000 crore.
Pulled down by a stronger US dollar and rise in crude oil prices, rupee ends session 58 paise down to be at its historic low of 86.62.
RBI Governor Sanjay Malhotra will consider this data point while deciding on possibility of interest-rate cut in monetary policy next month.
RBI said borrowers should have different options available to them with regard to EMI-based personal loans; this includes switching to fixed interest rate for remaining portion of the loan.
Indian Overseas Bank is selling 46 NPA accounts worth Rs 11,500 crore; invites expressions of interest from ARCs.
Financial Services Institutions Bureau recommends Asheesh Pandey and Kalyan Kumar for the post of MD and CEO of Union Bank of India and Central Bank of India, respectively.
The six steps suggested by industry body CII include reduction in excise duty on fuel, cutting personal income tax rates for individuals and increasing daily wages under MGNREGS.
RBI asks NPCI to develop facility to allow customers using RTGS and NEFT to verify name of bank account to which money is being transferred before initiating the transaction; this is to avoid mistakes and prevent frauds.
RBI said GDP growth to recover in Q3 and Q4 of 2024-25 supported by pick up in domestic drivers, mainly public consumption and investment, strong service exports and easy financial conditions.
Rajat Verma will take charge as DBS Bank India CEO from 1 March, replacing Surojit Shome.
SBI Life’s board has approved picking up of 10% stake in Bima Sugam India Federation for Rs 6.6 crore.
IIT Bombay professor Pushpak Bhattacharyya to head eight-member panel to develop framework for responsible and ethical enablement of artificial intelligence in financial sector.
Banking fraud cases in India rise 27% to 18,461 in H1FY25; amount jumps eight-fold to Rs 21,367 crore, RBI data showed.
Indian banks improve their profitability for sixth consecutive year in 2023-24 while their gross bad loan ratio drops to 13-year low, RBI data shows.
