Only Rs 6,471 crore of Rs 2,000 notes still with public, says RBI; 98.18% of Rs 2,000 banknotes have returned to banking system.
RBI lowers risk weights for banks on consumer microfinance loans by 25 percentage points to 100%; move to release more funds and boost credit at a time when the economy is facing slowdown in growth.
Bank of India reports loan fraud of Rs 226.84 crore by Odisha-based Gupta Power Infrastructure to the RBI; earlier, PNB had declared fraud of Rs 270.57 crore by the same company.
Hitesh Mehta, ex-GM of New India Co-operative Bank used to call two staffers and instruct them to hand over Rs 50 lakh at a time from the bank's safes to persons he sent; police has also arrested former CEO of the bank.
RBI has proposed to scrap the foreclosure charges on all floating rate loans, including for business purposes, availed by individuals as well as micro and small enterprises.
Reserve Bank of India will conduct a massive $10 billion three-year dollar/rupee swap auction on 28 February to inject durable rupee liquidity into the banking system.
Reserve Bank of India imposes fine of Rs 39 lakh on Citibank N.A. for non-compliance with directions pertaining to large exposures framework and delay in furnishing of credit information to CICs.
The reduced rates apply to a wide range of products, including, auto, education and personal loans; PNB revised home loan rate to 8.15% under various schemes.
Punjab National Bank reports fraud of Rs 270.57 crore by Odisha-based Gupta Power Infrastructure to the RBI; loan was given by bank’s Station Square branch in Bhubaneswar.
SBI Cards and Payment Services has appointed Salila Pande as the managing director and CEO for a period of two years, with effect from 1 April 2025.
Private lender Karnataka Bank has requested for reversal of suspicious cross border UPI transaction of Rs 18.87 crore to the Reserve Bank of India.
New India Cooperative Bank official arrested for allegedly embezzling Rs 122 crore has admitted to giving Rs 70 crore to a real estate developer to complete an SRA project in Charkop in Kandivali.
Mumbai police arrests Hitesh Mehta, former GM and head of accounts of New India Cooperative Bank, for allegedly siphoning Rs 122 crore from the lender.
SBI’s revised lending rates follow RBI’s cut in the policy repo rate by 25 basis points; bank, however, keeps MCLR and BPLR unchanged.
Reserve Bank of India slaps penalty of Rs 61.40 lakh on Nainital Bank and Rs 6.70 lakh on Ujjivan Small Finance Bank for contravention of regulatory norms; Shriram Finance fined Rs 5.80 lakh.
