Punjab National Bank inks MoU with Indian Army; to offer PNB Luxura Metal Credit Card for army officers and PNB Parakram Credit Card for JCOs and other ranks personnel.
Bank of Baroda’s write-off of Rs 35,715 cr is over six years involving borrowers with outstanding dues of Rs 100 crore and above; recovery from such accounts is just Rs 9,946 cr.
IDFC First Bank upsizes initial $500 mn senior notes to finally raise $600 mn; CFO Sudhanshu Jain says this inaugural transaction marks a landmark milestone for the bank.
Monetary policy committee members to back repo rate hike if inflationary pressures persist and oil prices continue to climb, minutes of meeting showed.
Punjab National Bank has inaugurated a dedicated stock broker branch, located opposite to the iconic BSE building in Mumbai.
Early closure of FCNR(B) deposits swap window and oil prices rising close to $90 per barrel sends rupee diving to low of 95.61 a dollar; sharper fall arrested by RBI’s market interventions.
RBI advances by a month the closure of its special FCNR(B) deposit swap facility after inflows cross over $50 bn; announcement comes days after RBI Governor Sanjay Malhotra says no proposal to prematuredly end the special scheme.
Food inflation rises to 5.52% in July from 5.32% in preceding month; retail inflation was 4.38% in June.
Bank write-offs hit high of Rs 1,48,753 crore in FY19 and sharply fall to Rs 20,485 crore in FY26, MoS for Finance Pankaj Chaudhary says.
SBI Chairman admits it is too late to catch up with entrenched players like PhonePe and Google Pay who dominate UPI market; YONO Pay is trying to get at least its own customers to use the platform.
State Bank of India’s Q1 net profit up 10.2% at Rs 21,121 crore; Chairman CS Setty says bank on track to raise $10 bn in FCNR(B) deposits and inflows to replace high-cost bulk deposits.
Repo rate remains unchanged at 5.25% for 4th consecutive time; inflation forecast lowered to 5% for FY27 and GDP growth increased to 6.7%.
Rupee ends at its highest level in a month on the back of lower crude oil prices; closes at 95.12 per dollar.
RBI is targeting to launch long-lasting polymer banknotes at the beginning of FY28 after completing field trials, Governor Sanjay Malhotra said.
Banks’ combined stock of FCNR(B) deposit outstanding stands at $60.55 bn as on 30 July, up from $32.56 bn on 5 June 2026; SBI, HSBC and ICICI Bank lead the ship.
