The payment systems include Immediate Payment Service, NEFT system, RTGS system and UPI. Debit cards, credit cards and Prepaid Payment Instruments are among the other payment instruments.
Bajaj Hindusthan Sugar reportedly owes around Rs 4,800 crore to banks such as the SBI, PNB, Indian Bank and Central Bank of India.
The minimum amount of loan offered by banks or FIs should be Rs 500 crore or in multiple of Rs 500 crore.
SBI plans to launch more such branches in different cities to spread the startup culture in India; bank to offer funding, treasury operations, advisory and other ancillary financial services through its diverse subsidiaries.
Retail inflation eases to lowest since March due to softening of food and crude oil prices; still above RBI’s upper limit of 6% for seventh straight month.
Loan recovery agents, hired by regulated entities including banks, NBFCs and ARCs, cannot intimidate or harass borrowers, RBI said.
Fair trade regulator Competition Commission of India has approved the merger proposal of HDFC Bank and its parent HDFC Ltd.
Anshu Jain, the former co-chief executive of Deutsche Bank AG, died in London on Saturday after a five-year battle with duodenal cancer.
Meeting of capital raising committee of Bank of Baroda is scheduled to be held on 22 August to discuss the raising of Basel III compliant bonds within the board approved limit of Rs 2,500 crore.
NCLT approves demerger of Piramal Enterprises’ pharma business and the simplification of the company's corporate structure.
Digital lending apps and lenders will fall under increased scrutiny and supervision as RBI sets guidelines after several complaints were lodged against many such apps for indulging in frauds and unlawful activities.
Private lenders IDFC First Bank and Yes Bank and state-owned Indian Bank have put their loans to SpiceJet Ltd in the high-risk category.
SBI yet to decide on whether it would hold a 26% stake in Yes Bank in FY24, chairman Dinesh Khara said; lock-in period ends in March 2023.
The effective interest rate on home loans for new borrowers will be 8.10% and for women 8.05%; for high-risk borrowers a credit risk premium will be added.
HDFC files application with NCLT for merger of HDFC Investments Limited and HDFC Holdings Limited with HDFC Bank.
