Banking

90th Anniversary of the Reserve Bank of India (RBI): A Milestone in India’s Financial History

The Reserve Bank of India (RBI) marks its 90th anniversary in 2025, commemorating nine decades of financial governance, economic stability, and monetary policy regulation in India. Established on April 1, 1935, under the Reserve Bank of India Act, 1934, the...

Parliament Passes Banking Laws (Amendment) Bill, 2024 – Key Changes Introduced

On March 26, 2025, Parliament passed the Banking Laws (Amendment) Bill, 2024, which introduces several key reforms in India's banking sector. The bill, approved by the Rajya Sabha through a voice vote, was earlier passed by the Lok Sabha in...

Axis Bank, J.P. Morgan Roll Out Anytime Dollar Payments for Clients

India’s Axis Bank has partnered with J.P. Morgan to launch real-time US dollar payment capabilities for commercial clients in India. This initiative is powered by Kinexys, J.P. Morgan’s blockchain and digital assets unit. The new service enables Indian companies to...

8th State Level Coordination Committee (SLCC) Meeting Conducted by RBI in Sikkim

The Reserve Bank of India (RBI) organized the 8th State Level Coordination Committee (SLCC) Meeting in Gangtok, Sikkim, on March 26, 2025. The meeting, chaired by Shri Ravindra Telang, Chief Secretary of Sikkim, was convened by Shri Thotngam Jamang, Regional...

HDFC Bank Embassy Fixed Deposit: A Comprehensive Guide

HDFC Bank has outlined the details of its Embassy Deposits, which are exclusively available to diplomats, non-diplomatic staff, and diplomatic missions. These deposits are Foreign Currency (FCY) Term Deposits, currently available only in USD (United States Dollar). The latest update...

RBI Revises Priority Sector Lending (PSL) Norms Effective April 1, 2025

The Reserve Bank of India (RBI) has issued revised Priority Sector Lending (PSL) guidelines, which will come into effect from April 1, 2025. The new norms aim to enhance credit accessibility to priority sectors, including agriculture, MSMEs, renewable energy, housing,...

ATM Withdrawals to Get Costlier from May 1 as RBI Approves Fee Hike

Starting May 1, 2025, withdrawing cash from ATMs in India will become more expensive as the Reserve Bank of India (RBI) has approved an increase in interchange fees. The interchange fee, which is charged when a customer uses an ATM...

Equitas Small Finance Bank Strengthens Ties with Chennai Super Kings & Gujarat Titans

Equitas Small Finance Bank, one of India's leading Small Finance Banks, has renewed its partnership with two of the most successful teams in the Indian T20 League – Chennai Super Kings (CSK) and Gujarat Titans (GT) – as their Official...

RBI Announces 8.34% Rate for GOI Floating Rate Bond 2033

The Reserve Bank of India (RBI) has announced that the interest rate on the Government of India Floating Rate Bond 2033 (GOI FRB 2033) for the period from March 22, 2024, to September 21, 2024, will be 8.34% per annum....

Public Sector Banks Witness a 33% Surge in Dividend Payouts in FY24, Reflecting Strong Financial Growth

Public Sector Banks (PSBs) in India have shown remarkable financial improvement, as reflected in their highest-ever net profits and a significant rise in dividend payouts. In the financial year 2023-24 (FY24), the dividend payout by PSBs surged by 33% to...