Banking

RBI Revises Priority Sector Lending (PSL) Norms Effective April 1, 2025

The Reserve Bank of India (RBI) has issued revised Priority Sector Lending (PSL) guidelines, which will come into effect from April 1, 2025. The new norms aim to enhance credit accessibility to priority sectors, including agriculture, MSMEs, renewable energy, housing,...

ATM Withdrawals to Get Costlier from May 1 as RBI Approves Fee Hike

Starting May 1, 2025, withdrawing cash from ATMs in India will become more expensive as the Reserve Bank of India (RBI) has approved an increase in interchange fees. The interchange fee, which is charged when a customer uses an ATM...

Equitas Small Finance Bank Strengthens Ties with Chennai Super Kings & Gujarat Titans

Equitas Small Finance Bank, one of India's leading Small Finance Banks, has renewed its partnership with two of the most successful teams in the Indian T20 League – Chennai Super Kings (CSK) and Gujarat Titans (GT) – as their Official...

RBI Announces 8.34% Rate for GOI Floating Rate Bond 2033

The Reserve Bank of India (RBI) has announced that the interest rate on the Government of India Floating Rate Bond 2033 (GOI FRB 2033) for the period from March 22, 2024, to September 21, 2024, will be 8.34% per annum....

Public Sector Banks Witness a 33% Surge in Dividend Payouts in FY24, Reflecting Strong Financial Growth

Public Sector Banks (PSBs) in India have shown remarkable financial improvement, as reflected in their highest-ever net profits and a significant rise in dividend payouts. In the financial year 2023-24 (FY24), the dividend payout by PSBs surged by 33% to...

RRBs Get Five More Years to Amortize Additional Pension Liabilities

The Reserve Bank of India (RBI) has granted Regional Rural Banks (RRBs) an additional five years from FY25 to amortize the additional expenditure arising from the revision in pensions. This decision follows concerns about absorbing the increased liability in a...

SBI Mutual Fund Launches Two New PSU Bank-Focused Schemes

SBI Mutual Fund has introduced two new investment schemes—the SBI BSE PSU Bank Index Fund and the SBI BSE PSU Bank ETF—which aim to provide investors exposure to India's public sector banking sector. Both schemes will track the BSE PSU...

Cabinet Approves ₹1,500 Crore UPI Incentive Scheme for Banks

The Union Cabinet has approved an incentive scheme of ₹1,500 crore for banks to promote Unified Payments Interface (UPI) transactions below ₹2,000 in FY 2024–25. Banks will receive a 0.15% incentive on such transactions made by small merchants, with a...

SEBI Reduces Minimum Investment in SSE to ₹1,000

The Securities and Exchange Board of India (SEBI) has reduced the minimum investment amount for Zero Coupon Zero Principal (ZCZP) instruments on the Social Stock Exchange (SSE) from ₹10,000 to ₹1,000. This decision, based on recommendations from the Social Stock...

RBI’s Net Short Position in Forward Market Swells to $77.5 Billion: Analyzing the Forex Trends

The Reserve Bank of India (RBI) has reported a significant rise in its net short position in the forward book, which expanded to $77.5 billion by the end of January 2025, up from $67.9 billion in December 2024. This increase...