Banking

Revised Income Tax Bill, 2025: What Taxpayers and Investors Need to Know

Union Finance Minister Nirmala Sitharaman has formally withdrawn the old draft of the Income Tax Bill, 2025, from the Lok Sabha and introduced a revised version in Parliament. This new draft is the result of extensive feedback and scrutiny, including around...

RBI Circulars and Notifications – April 2025

In April 2025, RBI issued major circulars impacting financial inclusion, governance, credit norms, housing finance, NBFC lending, interest rates, and currency handling. These updates are vital for exams like RBI Grade B, NABARD, UPSC, and banking recruitment tests. The changes...

SBI, PNB and Other PSBs Post ₹44,218 Crore Profit in Q1 FY26, Up 11% YoY

India’s public sector banks (PSBs) delivered a record combined net profit of ₹44,218 crore in the first quarter of FY26, an 11% year-on-year increase from ₹39,974 crore in the same quarter last year. The growth was driven largely by the...

Bank Credit Growth Slows to 1.4% in FY26 So Far, Deposits Remain Steady at 3.4%

Bank credit growth in India has slowed to 1.4% in FY26 so far, down from 2.3% in the same period last year, according to the Reserve Bank of India’s latest weekly statistical survey. Meanwhile, deposit growth has remained steady at...

KSFE Becomes First Miscellaneous NBFC in India to Cross ₹1 Lakh Crore Turnover

Kerala State Financial Enterprises (KSFE) has achieved a historic milestone, becoming the first miscellaneous non-banking financial company (NBFC) in India to record a business turnover of ₹1 lakh crore. The state-owned firm reached this figure in record time, doubling its...

ICICI Bank Records Lowest Attrition Rate Among Private Peers for Three Consecutive Years

ICICI Bank, India’s second-largest private sector lender, has emerged as the best performer in employee retention among major private banks for the third consecutive year. According to its Business Responsibility and Sustainability Reporting (BRSR) report, the bank’s attrition rate fell...

ICICI Bank Sharp Hike in Minimum Balance Requirement: Policy Shift and Customer Impact

In a major policy change, ICICI Bank, India’s second-largest private lender, has significantly raised its Minimum Average Balance (MAB) requirements across metro, urban, semi-urban, and rural branches. Effective August 2025, the hike comes with stricter penalties and revised transaction rules,...

AU Small Finance Bank Makes History: First SFB to Get RBI Nod for Universal Bank Status

In a transformative moment for India’s banking landscape, AU Small Finance Bank (AU) has received in-principle approval from the Reserve Bank of India (RBI) to transition into a Universal Bank. This historic development makes AU the first Small Finance Bank...

IFC and HDFC Capital Launch $1 Billion Fund for Green Affordable Housing in India

In a landmark initiative aimed at tackling India’s housing shortage while promoting sustainability, the International Finance Corporation (IFC) has partnered with HDFC Capital Advisors to launch a $1 billion fund focused on green affordable housing. Named the HDFC Capital Development...

What’s New in EPFO’s UAN Process? Step-by-Step Guide

Starting August 1, 2025, the Employees’ Provident Fund Organisation (EPFO) has implemented a mandatory face authentication process for creating and updating UANs (Universal Account Numbers). This new rule aims to fully digitise and secure the identity verification process, using Aadhaar-based...