RBI said GDP growth to recover in Q3 and Q4 of 2024-25 supported by pick up in domestic drivers, mainly public consumption and investment, strong service exports and easy financial conditions.
Rajat Verma will take charge as DBS Bank India CEO from 1 March, replacing Surojit Shome.
SBI Life’s board has approved picking up of 10% stake in Bima Sugam India Federation for Rs 6.6 crore.
IIT Bombay professor Pushpak Bhattacharyya to head eight-member panel to develop framework for responsible and ethical enablement of artificial intelligence in financial sector.
Banking fraud cases in India rise 27% to 18,461 in H1FY25; amount jumps eight-fold to Rs 21,367 crore, RBI data showed.
Indian banks improve their profitability for sixth consecutive year in 2023-24 while their gross bad loan ratio drops to 13-year low, RBI data shows.
IndusInd Bank invites public bids at reserve price of Rs 85 crore; bids will have to be on a 100% cash basis.
RBI refuses to give more than six months for banks to classify an errant borrower as ‘wilful defaulter’ because a long process runs the risk of bringing down the value of the stressed assets.
As per RBI data, Mehul Choksi-owned Gitanjali Gems tops defaulter list, owing Rs 8,516 crore; ABG Shipyard occupies second spot with outstanding amount of Rs 4,684 crore.
SC verdict sets aside 2008 ruling of National Consumer Disputes Redressal Commission that had capped maximum interest chargeable by banks at 30% per annum for late credit card bill payments.
Reserve Bank of India imposes penalty of Rs 27.30 lakh on IndusInd Bank for non-compliance with certain provisions of norms related to 'interest rate on deposits'.
Reserve Bank of India slaps fine of Rs 20 lakh on Manappuram Finance for non-compliance with norms.
Punjab & Sind Bank’s maiden issuance of infra bonds carries a coupon rate of 7.74%; allotment of 10-year infra bonds to successful bidders to be done on Friday.
Govt appoints Rama Mohan Rao Amara as managing director of State Bank of India for a period of three years; he will fill the vacancy created by CS Setty, the current chairman of the bank.
Enforcement Directorate has restored properties worth Rs 22,280 crore from fugitive Vijay Mallya to Nirav Modi, Mehul Choksi and others, Finance Minister Nirmala Sitharaman said.
