Union Bank of India pays highest compensation of Rs 74.96 crore in FY24, followed by Bank of India at Rs 20.38 crore and Indian Bank at Rs 16.16 crore, says Finance Minister Nirmala Sitharaman.
Rupee depreciates by 11 paise on Tuesday to touch record low of 83.95 against US dollar amid pullout of global funds from Indian markets; drop also due to fears of recession in US and unwinding of yen carry trade.
Public sector banks’ NPAs on Mudra loans fell significantly over last few years to 3.4% in FY24, FM Nirmala Sitharaman said; in private sector banks, this fell to 0.95% from a peak of 1.77% in FY21.
Customers of several co-operative banks and regional rural banks were not able to access payments services like withdrawing cash at ATMs or using UPI due to a ransomware attack at C-Edge Technologies.
Non-bank payment system operators will have to put in place a real-time fraud monitoring solution to identify suspicious transactional behaviour and generate alerts, RBI said.
Govt mopped up Rs 98,681 crore from long term capital gains tax on listed equities in FY23, up 15% over the year-ago period.
RBI directs banks and NBFCs to complete classification process within six months of loan account turning NPA; lenders to examine ‘wilful default’ aspect in all NPA accounts with outstanding amounts of Rs 25 lakh and above.
Public sector banks charged Rs 8,500 crore from depositors for not maintaining minimum monthly balance in accounts between FY20 and FY24.
Canara Robeco AMC’s IPO is planned for launch in Q4 of FY25, says Canara Bank MD Satyanarayana Raju; Canara HSBC Life Insurance to list in Q1 of FY26.
Individual investor's share in equity cash segment turnover is at 35.9% in FY24, says Economic Survey; annual net SIP flows double past three years, from Rs 0.96 lakh crore in FY21 to Rs 2 lakh crore in FY24.
Budget for FY25 focuses on employment, skilling, MSME and middle class, says FM Nirmala Sitharaman; capital gains tax and infrastructure are other highlights.
Indian economy needs to generate nearly 78.5 lakh jobs annually until 2030 in the non-farm sector to keep pace with the rising workforce, the Economic Survey 2024 has highlighted.
India's GDP is projected to grow at 6.5% to 7% in FY2025, according to Economic Survey for 2023-24.
RBI approves appointment of KVS Manian as MD and CEO of Federal Bank for a period of three years from 23 September; he succeeds Shyam Srinivasan.
After years of wait, IDBI Bank’s stake sale process has gathered fresh momentum with RBI reportedly giving its 'fit and proper' approval on bidders for the lender.
