Government receives dividend cheque of Rs 6,959.29 crore for FY 2023-24 from the State Bank of India.
Stubborn food prices are responsible for slow pace of decline in overall retail inflation, RBI Governor Shaktikanta Das said while voting for status in policy rates earlier this month.
Ajith Kumar takes charge as managing director & CEO of Dhanlaxmi Bank for a three-year period; he replaces JK Shivan.
India’s retail inflation cooled to a one-year low of 4.75% in May, led mainly by a drop in prices of some kitchen items.
State Bank of India’s board has approved raising up to $3 billion through debt in the current financial year.
As part of agenda to internationalise the domestic currency, RBI will permit opening of rupee accounts overseas by persons resident outside India.
Share of Rs 500 denomination notes in overall currency jumps to 86.5% at the end of March 2024 versus 77.1% in the year-ago period.
The amount involved in bank frauds decreased 46.7% to Rs 13,930 crore in FY24, according to RBI’s annual report; cases rise to 36,075.
IDFC First Bank will allot 39.68 crore shares to marquee investors, including LIC; price at Rs 8080.63 per share.
The bulge in size led the RBI to make its highest-ever dividend payout of Rs 2.11 lakh crore to the central government for 2023-24.
Some ARCs are following wrong practices of evergreening distressed loans; in extreme cases this may call for regulatory or supervisory actions, RBI Deputy Governor Swaminathan Janakiraman says.
HDFC Bank will stop sending SMS alerts for any UPI spend below Rs 100 or receipt of money less than Rs 500, with effect from 25 June.
RBI orders Edelweiss Asset Reconstruction Company and ECL Finance to cease and desist from undertaking fresh activity with immediate effect.
RBI’s record Rs 2.1 lakh crore dividend payout to government for FY24 will help ease fiscal deficit target for FY25; this year’s gift is 141% higher than the dividend payout of Rs 87,416 crore for FY23.
Managing directors Setty and Ashwini Tewari are front runners for the post of SBI chairman; Dinesh Khara retires on 28 August.
