Banking

RBI ₹2000 Note Withdrawal: 98% Returned, 2% Still in Circulation

The Reserve Bank of India (RBI) has reported that as of December 31, 2024, only ₹6,691 crore worth of ₹2000 banknotes remain in circulation, constituting just 1.88% of the ₹3.56 lakh crore originally in use when the withdrawal was announced...

NPCI Proposes Hike in ATM Interchange Fees

The National Payments Corporation of India (NPCI) has proposed an increase in ATM interchange fees for both cash and non-cash transactions. This move aims to compensate banks and White Label ATM Operators (WLAOs) for rising operational costs and support the...

Ujjivan Small Finance Bank Seeks Universal Banking Licence

Ujjivan Small Finance Bank (USFB) has applied for a universal banking licence, a major milestone in its journey from a small finance bank to a full-fledged commercial bank. This move aligns with the bank's strategy to expand its financial services,...

L&T Finance Unveils AI-Powered Home Loan Advisor ‘KAI’

In a significant move towards improving customer experience, L&T Finance Limited (LTF), a leading Non-Banking Financial Company (NBFC) in India, has launched ‘Knowledgeable AI’ (KAI), an AI-powered virtual home loan advisor on its newly redesigned corporate website. This new feature...

Airtel Payments Bank Partners with Karnataka Bulldozers for CCL 2025

Airtel Payments Bank has announced its partnership with the Karnataka Bulldozers for the Celebrity Cricket League (CCL) 2025, set to begin on February 8, 2025. The collaboration makes Airtel Payments Bank a co-sponsor of the team, aiming to promote safe...

SEBI Proposes Secure UPI Payment Mechanism for Market Intermediaries

The Securities and Exchange Board of India (SEBI) is working on a secure Unified Payments Interface (UPI) mechanism for registered market intermediaries. This move aims to improve investor security, prevent fraudulent transactions, and ensure that payments are directed only to...

RBI’s Strategic Measures to Boost Liquidity in the Banking System

In a timely move to stabilize the financial system, the Reserve Bank of India (RBI) has introduced a series of liquidity-boosting measures. These include a $5 billion USD/INR buy/sell swap auction, open market operations (OMOs), and a variable rate repo...

Finvasia and Yes Bank Unveil ‘Jumpp’

Finvasia, a fintech company based in Mohali, Punjab, has collaborated with Yes Bank to launch a new, AI-powered super app named Jumpp. This innovative app aims to simplify and enhance personal finance management by offering a range of services under...

Kotak Mutual Fund Introduces India’s First MSCI India ETF

In a landmark move, Kotak Mutual Fund has launched the Kotak MSCI India ETF, which marks the introduction of India's first exchange-traded fund (ETF) designed to track the MSCI India Index. This new ETF offers investors an efficient way to...

IPPB & PNB MetLife Partner to Expand Life Insurance Access in India

India Post Payments Bank (IPPB) and PNB MetLife India Insurance have announced a significant bancassurance partnership aimed at making life insurance more accessible to millions of Indians. This collaboration will utilize IPPB’s vast network to offer PNB MetLife’s insurance solutions,...