Banking

What Are the Benefits If the RBI Reduces the Repo Rate?

When the Reserve Bank of India (RBI) reduces the repo rate, it has a ripple effect on the economy, benefiting the general public in several ways. The repo rate is the rate at which the RBI lends money to commercial banks. A reduction...

IOB Joins Global Partnership for Carbon Accounting

Indian Overseas Bank (IOB) has taken a significant step towards sustainability by becoming a signatory of the Partnership for Carbon Accounting Financials (PCAF). This move reflects the bank's commitment to measuring and disclosing its greenhouse gas (GHG) emissions associated with...

South Indian Bank Unveils Startup Current Accounts for Entrepreneurs

South Indian Bank (SIB) has taken a significant step to support the rapidly growing startup ecosystem in India. The bank has introduced two specialized startup current account products, namely the SIB Business Startup Current Account and SIB Corporate Startup Current...

Sharan Hegde’s 1% Club Secures SEBI RIA License

Sharan Hegde’s platform, The 1% Club, has made history by becoming one of the first finfluencer-led companies to secure the SEBI Registered Investment Advisor (RIA) license. This achievement marks a significant step for the Indian financial advisory sector, where the...

RBI ₹2000 Note Withdrawal: 98% Returned, 2% Still in Circulation

The Reserve Bank of India (RBI) has reported that as of December 31, 2024, only ₹6,691 crore worth of ₹2000 banknotes remain in circulation, constituting just 1.88% of the ₹3.56 lakh crore originally in use when the withdrawal was announced...

NPCI Proposes Hike in ATM Interchange Fees

The National Payments Corporation of India (NPCI) has proposed an increase in ATM interchange fees for both cash and non-cash transactions. This move aims to compensate banks and White Label ATM Operators (WLAOs) for rising operational costs and support the...

Ujjivan Small Finance Bank Seeks Universal Banking Licence

Ujjivan Small Finance Bank (USFB) has applied for a universal banking licence, a major milestone in its journey from a small finance bank to a full-fledged commercial bank. This move aligns with the bank's strategy to expand its financial services,...

L&T Finance Unveils AI-Powered Home Loan Advisor ‘KAI’

In a significant move towards improving customer experience, L&T Finance Limited (LTF), a leading Non-Banking Financial Company (NBFC) in India, has launched ‘Knowledgeable AI’ (KAI), an AI-powered virtual home loan advisor on its newly redesigned corporate website. This new feature...

Airtel Payments Bank Partners with Karnataka Bulldozers for CCL 2025

Airtel Payments Bank has announced its partnership with the Karnataka Bulldozers for the Celebrity Cricket League (CCL) 2025, set to begin on February 8, 2025. The collaboration makes Airtel Payments Bank a co-sponsor of the team, aiming to promote safe...

SEBI Proposes Secure UPI Payment Mechanism for Market Intermediaries

The Securities and Exchange Board of India (SEBI) is working on a secure Unified Payments Interface (UPI) mechanism for registered market intermediaries. This move aims to improve investor security, prevent fraudulent transactions, and ensure that payments are directed only to...