Banking

RBI Appoints Dr. Ajit Ratnakar Joshi as Executive Director

The Reserve Bank of India (RBI) has appointed Dr. Ajit Ratnakar Joshi as its new Executive Director (ED) with effect from March 3, 2025. Dr. Joshi will be responsible for overseeing the Department of Statistics and Information Management and the...

RBI’s Update on the Exchange and Deposit of ₹2000 Notes

The Reserve Bank of India (RBI) has kept the window open for the exchange and deposit of ₹2000 denomination notes, despite an overwhelming 98.18% of the total value being returned to the banking system. This move ensures that individuals who...

RBI’s ‘Regulations at a Glance’: Key Insights for Cooperative Banks

The Reserve Bank of India (RBI) has released the "Regulations at a Glance" handbook, compiled by the Department of Regulation (DoR), to offer a broad overview of key regulatory guidelines applicable to various banking entities, including cooperative banks. The handbook...

RBI Fines HSBC, IIFL Samasta for Compliance Lapses

The Reserve Bank of India (RBI) has imposed monetary penalties on The Hongkong and Shanghai Banking Corporation Limited (HSBC) and IIFL Samasta Finance Limited for regulatory violations. HSBC was fined ₹66.6 lakh for breaches related to Know Your Customer (KYC)...

City Union Bank Partners with Chennai Super Kings to Launch Co-Branded Credit Card

City Union Bank (CUB) has announced a strategic partnership with Chennai Super Kings (CSK) to introduce an exclusive co-branded credit card. This collaboration aims to offer CSK fans a unique financial product that enhances their purchasing experience while allowing them...

Bank of Baroda Achieves ISO 22301:2019 Certification for Business Continuity Management

Bank of Baroda, one of India's leading public sector banks, has been awarded the prestigious ISO 22301:2019 Business Continuity Management System (BCMS) certification by the British Standards Institution (BSI). This recognition underscores the bank’s strong commitment to operational resilience, business...

YES BANK Hosts Export Conclave 2025 in Collaboration with WTC Mumbai

YES BANK, India’s sixth-largest private sector bank, joined forces with the World Trade Center (WTC) Mumbai to host the prestigious Export Conclave 2025 at YES BANK House. The event served as a significant platform for exporters, industry leaders, and government...

RBI Reverses Higher Risk Weights on Bank Loans to NBFCs and Microloans

The Reserve Bank of India (RBI) has decided to reverse its 2023 decision to increase risk weights on bank loans to non-banking financial companies (NBFCs) due to the slowdown in bank credit growth. This move, effective from April 1, 2025,...

SBI Cuts India’s FY25 GDP Growth Forecast to 6.3%

India’s economic growth is expected to slow down in the fiscal year 2024-25, with the State Bank of India (SBI) revising its GDP growth estimate to 6.3%. This is lower than the Reserve Bank of India's (RBI) projection of 6.6%...

Muthoot Finance Gets RBI Nod to Open 115 New Branches

Muthoot Finance, India's leading gold loan non-banking financial company (NBFC), has secured approval from the Reserve Bank of India (RBI) to expand its branch network by adding 115 new branches across the country. This expansion aligns with the company’s focus...