Banking

RBI Imposes ₹76.6 Lakh Penalty on Four NBFCs for Regulatory Violations

The Reserve Bank of India (RBI) has imposed monetary penalties totaling ₹76.6 lakh on four Non-Banking Financial Companies (NBFCs) for non-compliance with regulatory norms. These penalties were issued under Section 58G of the Reserve Bank of India Act, 1934, and...

Bank of Baroda Launches ‘bob Global Women NRE & NRO Savings Account’ for Women NRIs

On March 7, 2025, Bank of Baroda (BoB) introduced the ‘bob Global Women NRE & NRO Savings Account’, marking a first among public sector banks with an NRI account designed specifically for women. This account aims to empower women NRIs...

SBI Launches Collateral-Free Digital SME Loan for Women Entrepreneurs

On the occasion of International Women’s Day 2025, the State Bank of India (SBI) launched ‘SBI Asmita’, a collateral-free digital SME loan exclusively for women entrepreneurs. The initiative aims to simplify access to financing for women-led MSMEs through a digital,...

SEBI’s Total Income Rises 48% to ₹2,075 Crore in 2023-24

The Securities and Exchange Board of India (SEBI) recorded a 48% year-on-year growth in its total income, reaching ₹2,075 crore in FY 2023-24. The increase was primarily driven by higher earnings from fees and subscriptions. SEBI’s fee income surged significantly...

RBI Appoints Dr. Ajit Ratnakar Joshi as Executive Director

The Reserve Bank of India (RBI) has appointed Dr. Ajit Ratnakar Joshi as its new Executive Director (ED) with effect from March 3, 2025. Dr. Joshi will be responsible for overseeing the Department of Statistics and Information Management and the...

RBI’s Update on the Exchange and Deposit of ₹2000 Notes

The Reserve Bank of India (RBI) has kept the window open for the exchange and deposit of ₹2000 denomination notes, despite an overwhelming 98.18% of the total value being returned to the banking system. This move ensures that individuals who...

RBI’s ‘Regulations at a Glance’: Key Insights for Cooperative Banks

The Reserve Bank of India (RBI) has released the "Regulations at a Glance" handbook, compiled by the Department of Regulation (DoR), to offer a broad overview of key regulatory guidelines applicable to various banking entities, including cooperative banks. The handbook...

RBI Fines HSBC, IIFL Samasta for Compliance Lapses

The Reserve Bank of India (RBI) has imposed monetary penalties on The Hongkong and Shanghai Banking Corporation Limited (HSBC) and IIFL Samasta Finance Limited for regulatory violations. HSBC was fined ₹66.6 lakh for breaches related to Know Your Customer (KYC)...

City Union Bank Partners with Chennai Super Kings to Launch Co-Branded Credit Card

City Union Bank (CUB) has announced a strategic partnership with Chennai Super Kings (CSK) to introduce an exclusive co-branded credit card. This collaboration aims to offer CSK fans a unique financial product that enhances their purchasing experience while allowing them...

Bank of Baroda Achieves ISO 22301:2019 Certification for Business Continuity Management

Bank of Baroda, one of India's leading public sector banks, has been awarded the prestigious ISO 22301:2019 Business Continuity Management System (BCMS) certification by the British Standards Institution (BSI). This recognition underscores the bank’s strong commitment to operational resilience, business...