Banking

Karnataka Bank’s Triumph at IBA Banking Technology Awards

Karnataka Bank has achieved a remarkable milestone by securing top honours in six categories at the 20th Annual Banking Technology Conference, Expo & Citations, 2024, organized by the Indian Banks' Association (IBA). This accomplishment underscores the bank's unwavering commitment to...

CRED Launches e₹ Wallet, Advancing India’s Digital Currency Adoption

CRED, one of India's leading fintech companies, has made a groundbreaking move by launching the beta version of the e₹ wallet. With this integration, CRED becomes the first fintech platform to adopt India's central bank digital currency (CBDC), the e-rupee....

SEBI Launches ‘Dharohar’: A Digital Tribute to India’s Market Legacy

On January 26, 2025, the Securities and Exchange Board of India (SEBI) marked a significant milestone with the launch of "Dharohar – Milestones in the Indian Securities Market." The digital repository was unveiled on India's 76th Republic Day and aims...

SEBI Introduces iSPOT Portal to Streamline Reporting of Technical Glitches

The Securities and Exchange Board of India (SEBI) has unveiled a new initiative aimed at simplifying the process of reporting technical glitches within India’s financial markets. Known as the Integrated SEBI Portal for Technical Glitches (iSPOT), this portal will replace...

RBI Sets 6.66% Interest Rate on GOI Floating Rate Bonds 2035

The Reserve Bank of India (RBI) has recently announced that the interest rate for the Government of India Floating Rate Bonds 2035 (GOI FRB 2035) will be set at 6.66% per annum. This rate will be applicable for the period...

SBI Payments & Pine Labs Boost Partnership for Digital Commerce Growth

In a major move towards expanding digital commerce, State Bank of India (SBI) Payments and Pine Labs have announced the strengthening of their 12-year-old partnership. This new phase of collaboration, which began on January 25, 2025, is focused on driving...

Banks Reevaluate Recovery Strategies as IBC Effectiveness Declines

The Insolvency and Bankruptcy Code (IBC), once a pivotal tool for resolving distressed assets in India, is experiencing a slowdown in case admissions. Banks are increasingly hesitant to utilize this channel due to diminishing recovery rates and prolonged resolution timelines....

RBI Greenlights NUCFDC to Boost Urban Cooperative Banks

The Reserve Bank of India (RBI) has approved the creation of the National Urban Cooperative Finance and Development Corporation (NUCFDC) to bolster the operational efficiency of Urban Cooperative Banks (UCBs) across India. This initiative aims to address challenges such as...

IDBI Bank Reappoints Rakesh Sharma as MD & CEO for 3 Years

IDBI Bank's Board of Directors has approved the reappointment of Rakesh Sharma as Managing Director and Chief Executive Officer (MD & CEO) for a three-year term, effective March 19, 2025. This decision follows the necessary approval from the Reserve Bank...

UPI’s Dominance in India’s Digital Payments Landscape

In 2024, the Unified Payments Interface (UPI) solidified its position as the cornerstone of India's digital payment ecosystem, accounting for 83% of all digital transactions, a significant rise from 34% in 2019. This surge underscores UPI's rapid adoption and the...