Banking

RBI Approves Voluntary Amalgamations of Urban Co-operative Banks

In a significant move to improve the financial stability of the urban co-operative banking sector, the Reserve Bank of India (RBI) has approved the voluntary amalgamation of two urban co-operative banks in Hyderabad, Telangana. This step aligns with the RBI's...

RBI Introduces Additional Factor Authentication (AFA) for International Transactions

In a significant move to enhance digital payment security, the Reserve Bank of India (RBI) has announced the implementation of Additional Factor Authentication (AFA) for cross-border “Card Not Present” (CNP) transactions. This initiative aims to secure international transactions using Indian-issued...

IDFC FIRST Bank Expands AI Amitabh Bachchan Avatar

IDFC FIRST Bank, in collaboration with Ikonz Studios, has introduced an AI-powered holographic avatar of its brand ambassador, Amitabh Bachchan, across five additional cities. This initiative aims to revolutionize customer interaction by providing an immersive and personalized banking experience. What...

IOB Marks 89 Years with a Strong Sustainability Commitment

As Indian Overseas Bank (IOB) celebrates its 89th Foundation Day on February 10, 2025, the bank continues to focus on sustainability and responsible banking. Strengthening its environmental commitments, IOB has now become a signatory of the Partnership for Carbon Accounting...

RBI Clears Tata Communications’ Payment Arm Sale to Findi

The Reserve Bank of India (RBI) has approved Tata Communications' plan to sell its entire stake in Tata Communications Payment Solutions Ltd (TCPSL) to Transaction Solutions International (TSI), the Indian subsidiary of Australian fintech company Findi. The deal, first announced...

SEBI Penalizes DB Realty and Associates for Financial Misstatements

The Securities and Exchange Board of India (SEBI) has imposed a total fine of ₹25 lakh on DB Realty Ltd (now known as Valor Estate Ltd) and seven associated individuals for violations related to financial misstatements and non-disclosures. The penalties...

SBI Q3 Results: Net Interest Income Up 4% to ₹41,446 Cr

State Bank of India (SBI) reported an 84% rise in net profit for Q3 FY25, surpassing market expectations. The bank's net interest income (NII) increased by 4%, while employee expenses declined significantly. SBI demonstrated strong loan growth, improved asset quality,...

RBI Launches ‘Bank.in’ & ‘Fin.in’ for Secure Digital Banking

In a significant move to enhance cybersecurity and trust in digital banking, the Reserve Bank of India (RBI) has announced the introduction of exclusive internet domain names for Indian banks and financial institutions. Indian banks will now have the domain...

Highlights of RBI Monetary Policy Committee 2025

The Monetary Policy Committee (MPC) of the Reserve Bank of India (RBI) held its 53rd meeting from February 5 to 7, 2025, under the chairmanship of Shri Sanjay Malhotra, the Governor of RBI. The meeting was attended by MPC members...

RBI MPC Meeting 2025: Repo Rate Cut By 25 bps to 6.25%

The Reserve Bank of India (RBI) is set to announce its 6th and last bi-monthly monetary policy for the Financial Year 2025. The meeting of the Monetary Policy Committee headed by the new RBI Governor Sanjay Malhotra was scheduled from...