Banking

RBI’s Guidelines on Government Debt Relief Scheme

The Reserve Bank of India (RBI) has issued detailed guidelines for lenders participating in the Government Debt Relief Scheme, aiming to provide structured relief to borrowers facing financial distress. This initiative aligns with the RBI's ongoing efforts to enhance financial...

SBI Enhances NRI Account Opening with TAB-Based Digital Onboarding

The State Bank of India (SBI) has introduced a TAB-based end-to-end digital onboarding process for Non-Resident Indians (NRIs) to streamline the opening of Non-Resident External (NRE) and Non-Resident Ordinary (NRO) accounts. This initiative, launched on January 2, 2025, aims to...

Rajat Verma Appointed CEO of DBS Bank India

Rajat Verma, the current head of the Institutional Banking Group at DBS Bank India, has been appointed as the new CEO of DBS Bank India, effective March 1, 2025. This announcement comes after the retirement of Surojit Shome, who has...

RBI Introduces Name Lookup for NEFT and RTGS

The Reserve Bank of India (RBI) has announced a name lookup facility for Real-Time Gross Settlement (RTGS) and National Electronic Funds Transfer (NEFT) systems, aiming to reduce fraud and errors. This feature, similar to what Unified Payments Interface (UPI) and...

Reserve Bank of India’s (RBI) Report on Trend and Progress of Banking in India 2023-24

The Reserve Bank of India (RBI) has released the "Report on Trend and Progress of Banking in India 2023-24," offering a comprehensive analysis of the banking sector's performance during the fiscal year 2023-24. This annual report provides insights into various...

RBI Financial Stability Report, December 2024: Key Insights and Projections

The Reserve Bank of India (RBI) has released its Financial Stability Report (FSR) for December 2024, providing a comprehensive analysis of the Indian financial system's health. The FSR is published biannually, typically in June and December, offering insights into the...

RBI Allows UPI Payments via Third-Party Apps for PPI Holders

The Reserve Bank of India (RBI) has announced that holders of full-KYC prepaid payment instruments (PPIs) such as digital wallets, gift cards, and metro rail cards can now make and receive Unified Payments Interface (UPI) payments through third-party applications like...

Indian Banks’ Profitability Soars with Low NPAs and Strong Credit Growth

Indian public sector banks (PSBs) have reported strong profitability, with a 25% increase in net profit in H1 2024-25, totaling Rs 85,520 crore, compared to Rs 68,500 crore in H1 2023-24. This upward trajectory is expected to continue, driving PSB...

Amitava Chatterjee Appointed as MD & CEO of J&K Bank

Jammu and Kashmir (J&K) Bank's share price soared by 7.4% on December 26, 2024, following the announcement of Amitava Chatterjee's appointment as the new Managing Director (MD) and Chief Executive Officer (CEO). This significant development comes after the bank's board...

SEBI Bans 9 Entities, Impounds ₹21 Crore in Front-Running Case

The Securities and Exchange Board of India (SEBI) has issued an interim order banning Sachin Bakul Dagli, an equity dealer with PNB MetLife, and eight other entities from the securities market for their involvement in a front-running scheme. This fraudulent...