Indian rupee tumbles to lowest against US dollar amid record trade deficit, rising concerns of high oil prices and heavy foreign fund outflows.
Major step cleared towards completion of merger process; combined entity of HDFC Bank with parent and mortgage lender HDFC will widen lead with rivals like ICICI Bank and Axis Bank.
Banking frauds involving sums of over Rs 100 crore have seen a significant fall, with reported cases dropping to amounts worth Rs 41,000 crore in 2021-22 compared from Rs 1.05 lakh crore a year ago.
State Bank of India has crossed the Rs 1 trillion-mark in gold loans last week and clinched 24% of the market share in this segment.
Gross non-performing asset ratio of banks has fallen from 7.4% in March 2021 to a six-year low of 5.9% in March 2022, RBI said in its latest financial stability report.
Despite rising inflation and interest rates, the government has kept rates on small savings schemes unchanged for the quarter ended 30 September.
Adani Group has got consortium of public sector banks to provide entire debt requirement of Rs 6,071 crore for first phase of its diversified copper manufacturing project.
RBI has, in consultation with stakeholders, extended deadline for tokenisation of debit and credit cards by another three months until 30 September 2022.
RBI imposes monetary penalty of Rs 57.50 lakh on Indian Overseas Bank for non-compliance with certain directions.
RBI is intervening in market to defend rupee and will not allow its ‘jerky movements’; central bank is not targeting any specific level for domestic currency against US dollar, says RBI deputy governor Michael Patra.
Tenure of Canara Bank’s special fixed deposit scheme is 333 days and interest rate offered is 5.10%. For senior citizens, interest rate offered is 5.60%.
The board of Canara Bank has approved a Rs 9,000 crore capital raising plan through a combination of additional tier-1 and tier-2 bonds.
NBFCs need to diversify risks across sectors and geographies as well as maintain capital adequacy norms and introduce core banking solutions, former SBI chairman Rajnish Kumar said.
High inflation continues to be major concern while revival of economic activity remains steady and is gaining traction, said RBI Governor Shaktikanta Das.
Despite the numbers acting to the rupee’s disadvantage, it has managed to avoid a steep fall. Will it fight back?
