Banking

RBI Wins Digital Transformation Award 2025 for Pravaah and Sarthi Initiatives

The Reserve Bank of India (RBI) has been awarded the Digital Transformation Award 2025 by Central Banking, London, UK. This prestigious recognition is a testament to RBI's successful implementation of its digital initiatives—Pravaah and Sarthi—which were developed in-house by its...

RBI Issues Framework for Self-Regulatory Organisation (SRO) for Account Aggregators

The Reserve Bank of India (RBI) has introduced a framework for the recognition of a Self-Regulatory Organisation (SRO) for the Account Aggregator (AA) ecosystem. This initiative aims to facilitate smooth data exchange, address operational challenges, and ensure compliance across multiple...

ICICI Bank Appoints Kamal Wali as Head of Security Operations

ICICI Bank has appointed Kamal Wali as the Head of its Security Operations Center, reinforcing its commitment to cybersecurity and risk mitigation. With over 18 years of experience in cybersecurity and IT operations, Kamal Wali will lead security strategies to...

IIFL Finance Launches ‘Shakti’ All-Women Branches on Women’s Day

IIFL Finance, one of India’s leading non-banking financial companies (NBFCs), has rebranded seven of its existing branches as all-women staffed ‘Shakti’ branches to mark Women’s Day. These branches, located in the Delhi National Capital Region (NCR) and Mumbai Metropolitan Region...

RBI and NCFE Launch Nationwide Campaigns to Boost Financial Literacy

The Reserve Bank of India (RBI) and the National Centre for Financial Education (NCFE) have launched nationwide financial literacy campaigns to promote financial awareness and inclusion. These initiatives, implemented under the National Strategy for Financial Education (NSFE), aim to empower...

SBI Life Insurance Expands Product Line with Two New Child Insurance Plans

SBI Life Insurance, one of India's leading private life insurers, has launched two new child insurance products—‘SBI Life - Smart Future Star’ and ‘SBI Life - Smart Platina Young Achiever’—to help parents secure their child’s financial future. With the rising...

RBI Imposes ₹76.6 Lakh Penalty on Four NBFCs for Regulatory Violations

The Reserve Bank of India (RBI) has imposed monetary penalties totaling ₹76.6 lakh on four Non-Banking Financial Companies (NBFCs) for non-compliance with regulatory norms. These penalties were issued under Section 58G of the Reserve Bank of India Act, 1934, and...

Bank of Baroda Launches ‘bob Global Women NRE & NRO Savings Account’ for Women NRIs

On March 7, 2025, Bank of Baroda (BoB) introduced the ‘bob Global Women NRE & NRO Savings Account’, marking a first among public sector banks with an NRI account designed specifically for women. This account aims to empower women NRIs...

SBI Launches Collateral-Free Digital SME Loan for Women Entrepreneurs

On the occasion of International Women’s Day 2025, the State Bank of India (SBI) launched ‘SBI Asmita’, a collateral-free digital SME loan exclusively for women entrepreneurs. The initiative aims to simplify access to financing for women-led MSMEs through a digital,...

SEBI’s Total Income Rises 48% to ₹2,075 Crore in 2023-24

The Securities and Exchange Board of India (SEBI) recorded a 48% year-on-year growth in its total income, reaching ₹2,075 crore in FY 2023-24. The increase was primarily driven by higher earnings from fees and subscriptions. SEBI’s fee income surged significantly...