Banking

US Overtakes UAE as India’s Largest Source of Remittances, Says RBI Survey

The Reserve Bank of India (RBI) released the results of the sixth round of India’s Remittances Survey (2023-24), revealing a shift in migration trends. More skilled professionals are migrating, leading to an increase in remittances from advanced economies, surpassing inflows...

Fitch Affirms Union Bank of India, PNB Rating at BBB- with Stable Outlook

Fitch Ratings has affirmed the Long-Term Issuer Default Rating (IDR) of Union Bank of India and Punjab National Bank (PNB) at 'BBB-' with a stable outlook. The rating reflects strong government support, a favorable operating environment, and improved risk profiles....

City Union Bank Becomes Exclusive Banking Partner of Sunrisers Hyderabad

City Union Bank (CUB) has officially partnered with Sunrisers Hyderabad (SRH) as its exclusive banking partner. This strategic collaboration aims to provide SRH fans, players, and staff with customised financial solutions, exclusive offers, and enhanced digital banking services. The partnership...

SBI to Launch Project Finance Unit for AI, Fintech, and E-Commerce

The State Bank of India (SBI), the country's largest public sector bank, is establishing a specialized unit to manage project financing for emerging industries such as artificial intelligence (AI), e-commerce, and fintech. This initiative is part of SBI's broader strategy...

RBI Wins Digital Transformation Award 2025 for Pravaah and Sarthi Initiatives

The Reserve Bank of India (RBI) has been awarded the Digital Transformation Award 2025 by Central Banking, London, UK. This prestigious recognition is a testament to RBI's successful implementation of its digital initiatives—Pravaah and Sarthi—which were developed in-house by its...

RBI Issues Framework for Self-Regulatory Organisation (SRO) for Account Aggregators

The Reserve Bank of India (RBI) has introduced a framework for the recognition of a Self-Regulatory Organisation (SRO) for the Account Aggregator (AA) ecosystem. This initiative aims to facilitate smooth data exchange, address operational challenges, and ensure compliance across multiple...

ICICI Bank Appoints Kamal Wali as Head of Security Operations

ICICI Bank has appointed Kamal Wali as the Head of its Security Operations Center, reinforcing its commitment to cybersecurity and risk mitigation. With over 18 years of experience in cybersecurity and IT operations, Kamal Wali will lead security strategies to...

IIFL Finance Launches ‘Shakti’ All-Women Branches on Women’s Day

IIFL Finance, one of India’s leading non-banking financial companies (NBFCs), has rebranded seven of its existing branches as all-women staffed ‘Shakti’ branches to mark Women’s Day. These branches, located in the Delhi National Capital Region (NCR) and Mumbai Metropolitan Region...

RBI and NCFE Launch Nationwide Campaigns to Boost Financial Literacy

The Reserve Bank of India (RBI) and the National Centre for Financial Education (NCFE) have launched nationwide financial literacy campaigns to promote financial awareness and inclusion. These initiatives, implemented under the National Strategy for Financial Education (NSFE), aim to empower...

SBI Life Insurance Expands Product Line with Two New Child Insurance Plans

SBI Life Insurance, one of India's leading private life insurers, has launched two new child insurance products—‘SBI Life - Smart Future Star’ and ‘SBI Life - Smart Platina Young Achiever’—to help parents secure their child’s financial future. With the rising...