banking

Mumbai, April 10 The Reserve Bank proposed changes in the criteria for identifying upper layer non-banking financial companies (NBFCs) on Friday, advocating for an asset-based approach instead of the previous parametric system and including state-run entities.According to the draft 'Reserve...

The Reserve Bank of India has asked banks to expedite cross-border payments. In guidelines issued today, the RBI stated that it has observed that several banks rely on end-of-day statements of the nostro account to confirm and reconcile receipts in the nostro accounts, resulting in a delay in...

Mumbai, April 9 The Reserve Bank of India (RBI) on Thursday directed banks to streamline their processes for inward cross-border payments to ensure faster customer notification and timely credit to beneficiaries.The central bank has mandated banks to inform customers immediately once a payment...

New Delhi, April 9 The Centre has invited applications from eligible candidates to fill the post of Central Vigilance Commissioner in the vigilance watchdog, the Central Vigilance Commission (CVC)."It is proposed to appoint the Central Vigilance Commissioner in the Central Vigilance Commission...

Mumbai, April 8 Reserve Bank Governor Sanjay Malhotra expressed confidence on Wednesday that interest rates will remain low in the medium to long term, given the benign inflationary conditions.Addressing the media at a post-monetary policy conference, Malhotra said the Indian economy is very...

Beed, Apr 8 A senior banker was killed on the spot after a speeding truck collided with his scooter in the Beed district of central Maharashtra on Wednesday morning, police said.The deceased, Sudarshan Tak (45), was employed with the Deendayal Urban Co-operative Bank and was stationed at its...

Mumbai, April 7 Amid the ongoing conflict in West Asia, a consultancy firm on Tuesday urged banks to shift their exposure away from vulnerable small businesses and retail borrowers who may face the impact of layoffs.Banks need to convert early warning signals into decisive action, EY said in a...

New Delhi, April 7 The government may seek revised financial bids from two potential buyers of IDBI Bank, as their original bid amounts were lower than the reserve price fixed for the strategic sale of the lender, sources said."The strategic sale of IDBI Bank is in the technical evaluation...

Mumbai, April 7 Private sector banks reported stronger deposit growth in the January-March quarter compared with their public sector counterparts, even as the broader banking system continued to face persistent challenges in mobilizing deposits.Data compiled by

New Delhi, April 6 Private sector Yes Bank announced on Monday that Vinay Muralidhar Tonse has taken over as the MD and CEO of the bank for a period of three years.Tonse, a former MD of State Bank of India, replaced Prashant Kumar, who completed his extended term on April 5.Tonse has taken...

New Delhi, April 5 The Supreme Court has intervened in a case where a man's credit score remained "negative" for years, despite having no outstanding loans or payment defaults.A bench of Justices JB Pardiwala and KV Viswanathan heard a petition filed by Rajendra Singh Panwar, a resident of...

Aligarh (UP), April 21 Amid allegations of forgery and an attempted takeover, Aligarh Muslim University has set up a committee to investigate how control of Aligarh Public School was allegedly sought to be transferred, and how funds were moved without authorization.The school, established by...

Mumbai, April 2 The All India Bank Employees' Association has written to Finance Minister Nirmala Sitharaman, seeking an inquiry into the affairs at HDFC Bank following the surprise resignation of its non-executive chairman Atanu Chakraborty last month.The AIBEA said there is a need for HDFC...

New Delhi, April 2 Transactions through the Unified Payments Interface (UPI) reached a record high of 22.64 billion in terms of volume in March."UPI achieves 22.64 billion transaction count in March'26! Thank you, India, for embracing digital payments and driving this revolution forward. Let's...

Mumbai, April 1 The Reserve Bank of India (RBI) said on Wednesday that it processed 99.9 per cent of applications within the prescribed timeline in March 2026, according to official data.The central bank said that it handled a total of 24,911 applications in March, including pending cases and...

Mumbai, March 31 Private sector lender RBL Bank announced on Tuesday that it plans to open 200 branches in FY27 to expand its network to over 800 branches.The lender launched 23 new branches across various states on Tuesday, bringing its total branch size to over 603, according to a statement...

Jodhpur, March 30 In a significant ruling on the scope of police powers during financial investigations, the Jodhpur bench of the Rajasthan High Court has held that banks cannot impose a blanket freeze on accounts at the behest of investigating agencies.The court stated that any restriction...

Union Finance Minister Nirmala Sitharaman stated that banks in the country operate under a strict legal and regulatory framework to ensure the safety and confidentiality of customer data. The Minister was responding to supplementary questions during Question Hour in the Lok Sabha today. Ms...

Gandhinagar, March 28: Gujarat's GIFT City has experienced rapid growth in financial activity and international participation, positioning India as a competitive global financial hub. This has prompted Chief Minister Bhupendra Patel to describe it as a "vibrant reality driving economic growth."...

Mumbai, March 24 American bank JP Morgan has appointed HSBC Group veteran Rahul Badhwar as its senior country officer for India.Sjoerd Leenart, JP Morgan's chief executive for Asia Pacific, made the announcement about Badhwar's appointment.Badhwar replaces Kaustubh Kulkarni, the senior...