Bank of Baroda, SBI, Yes Bank and RBL Bank have approached CIC objecting to disclosure of list of defaulters and NPA, penalties and inspection reports; RBI terms records "liable to be disclosed" under RTI Act.
RBI Governor Sanjay Malhotra urges chiefs of NBFCs to maintain sound underwriting standards and closely monitor asset quality.
United Forum of Bank Unions has threatened to go on a nationwide strike, demanding implementation of 5-day week.
Unsecured loans form over 70% of fintechs' total loan book and more than half of them are extended to borrowers under 35 years of age, RBI said in its Financial Stability Report.
Increase in digitalisation of payments has reduced the customers' requirement of transacting with ATMs, RBI’s report on Trend and Progress of Banking in India for FY25 said.
Punjab National Bank reports to RBI borrowing fraud of SREI Equipment Finance and SREI Infrastructure amounting to Rs 1,240.94 crore and Rs 1,193.06 crore, respectively; bank has made full provisions.
Union Bank of India reduces interest rates on home loans by 30 basis points and car loans by 40 bps; personal loans see sharper reduction.
Shriram Finance seals India’s largest cross-border deal in financial services sector. Will the NBFC turn into a bank? How significant is the deal as foreign investors evince interest in Indian financial entities in 2025.
RBI imposes penalty of Rs 61.95 lakh on Kotak Mahindra Bank for non-compliance of norms related to basic savings bank deposit account, business correspondents and credit information companies.
Ashwini Tewari, the seniormost managing director at SBI, gets two-year extension until 31 December 2027.
RBI Governor Sanjay Malhotra said rate cuts made during his tenure had helped engineer a “Goldilocks” phase of brisk growth with low inflation.
HDFC Bank gets nod to acquire aggregate holding of up to 9.5% stake in IndusInd Bank; group entities include HDFC Mutual Fund, HDFC Life Insurance Company, HDFC ERGO General Insurance Company and HDFC Securities.
Floor price fixed at Rs 34 per share; govt plans to divest up to 2% stake in IOB through offer for sale, with option of additional 1% via green shoe option.
With a view to improving monetary policy transmission, the RBI has advised banks to link loans to MSMEs to an external benchmark.
Ravi Ranjan will oversee key portfolios including risk management, compliance and stressed assets; Vinay Tonse had completed his term as MD on 30 November.
