Banking

RBI Introduces Name Lookup for NEFT and RTGS

The Reserve Bank of India (RBI) has announced a name lookup facility for Real-Time Gross Settlement (RTGS) and National Electronic Funds Transfer (NEFT) systems, aiming to reduce fraud and errors. This feature, similar to what Unified Payments Interface (UPI) and...

Reserve Bank of India’s (RBI) Report on Trend and Progress of Banking in India 2023-24

The Reserve Bank of India (RBI) has released the "Report on Trend and Progress of Banking in India 2023-24," offering a comprehensive analysis of the banking sector's performance during the fiscal year 2023-24. This annual report provides insights into various...

RBI Financial Stability Report, December 2024: Key Insights and Projections

The Reserve Bank of India (RBI) has released its Financial Stability Report (FSR) for December 2024, providing a comprehensive analysis of the Indian financial system's health. The FSR is published biannually, typically in June and December, offering insights into the...

RBI Allows UPI Payments via Third-Party Apps for PPI Holders

The Reserve Bank of India (RBI) has announced that holders of full-KYC prepaid payment instruments (PPIs) such as digital wallets, gift cards, and metro rail cards can now make and receive Unified Payments Interface (UPI) payments through third-party applications like...

Indian Banks’ Profitability Soars with Low NPAs and Strong Credit Growth

Indian public sector banks (PSBs) have reported strong profitability, with a 25% increase in net profit in H1 2024-25, totaling Rs 85,520 crore, compared to Rs 68,500 crore in H1 2023-24. This upward trajectory is expected to continue, driving PSB...

Amitava Chatterjee Appointed as MD & CEO of J&K Bank

Jammu and Kashmir (J&K) Bank's share price soared by 7.4% on December 26, 2024, following the announcement of Amitava Chatterjee's appointment as the new Managing Director (MD) and Chief Executive Officer (CEO). This significant development comes after the bank's board...

SEBI Bans 9 Entities, Impounds ₹21 Crore in Front-Running Case

The Securities and Exchange Board of India (SEBI) has issued an interim order banning Sachin Bakul Dagli, an equity dealer with PNB MetLife, and eight other entities from the securities market for their involvement in a front-running scheme. This fraudulent...

Tata Power and Canara Bank Partner for Rooftop Solar Loans

Tata Power Renewable Energy, a unit of Tata Power, has formed a partnership with the state-run Canara Bank to provide affordable financing options for rooftop solar installations. This collaboration is part of the government's PM Surya Ghar Scheme, which aims...

ICICI Bank, Times Internet Launch Premium Metal Credit Card

ICICI Bank and Times Internet have launched the ‘Times Black ICICI Bank Credit Card,’ a super-premium co-branded card aimed at high-net-worth individuals (HNIs) in India. The card combines exclusive benefits, luxury services, and a unique design, marking a step toward...

RBI Fines Manappuram Finance and IndusInd Bank for Non-Compliance

Reserve Bank of India (RBI) imposed penalties on IndusInd Bank and Manappuram Finance for failing to adhere to regulatory norms. The fines, amounting to Rs 27.3 lakh for IndusInd Bank and Rs 20 lakh for Manappuram Finance, were imposed following...