Banking

SBI Deploys ‘Grahak Mitras’ to Boost Alternate Banking Channel Adoption

The State Bank of India (SBI), India’s largest public sector bank, has unveiled a new customer engagement initiative by introducing ‘Grahak Mitras’ at select branches. These specially trained personnel, drawn from SBI’s subsidiary, State Bank Operations Support Services (SBOSS), will...

SBI Reviving the ‘Amrit Vrishti’ FD Scheme with New Rates

The State Bank of India (SBI) has reintroduced its special Fixed Deposit (FD) scheme called ‘Amrit Vrishti’ from April 15, 2025, with revised interest rates. Initially launched in July 2024, the scheme was concluded on March 31, 2025, after multiple...

SBI Card and Tata Digital Launch Co-branded Tata Neu SBI Card

SBI Card, the largest pure-play credit card issuer in India, has partnered with Tata Digital to launch a co-branded credit card aimed at enhancing customer experiences through rewards and exclusive benefits. The Tata Neu SBI Card is available in two...

CRISIL Projected 12-13% Growth for Banking Credit

India's banking sector is projected to witness a credit growth of 12-13% in FY26, slightly above the 11-11.5% growth estimated for FY25. This optimistic forecast, as stated by Crisil Ratings, is driven by multiple factors such as supportive regulatory measures,...

Bandhan Bank’s Elite Plus, Bank of Baroda’s New Deposit Scheme, and PMMY Expansion

In April 2025, several key developments were announced in the Indian banking and financial services sector. Bandhan Bank launched the Elite Plus Savings Account targeted at High Net-worth Individuals (HNIs), offering premium features including unlimited cash deposits and enhanced insurance...

RBI Permits NPCI to Enhance UPI Transaction Limits for P2M Payments

The Reserve Bank of India (RBI), on April 9, 2025, announced a major step in India's digital payments landscape by authorizing the National Payments Corporation of India (NPCI) to revise transaction limits for UPI-based Person-to-Merchant (P2M) payments. This move comes...

RBI Launches WhatsApp Channel for Verified Financial Updates

The Reserve Bank of India (RBI) has taken a major step towards enhancing digital communication by launching its official and verified WhatsApp channel. This initiative aims to deliver real-time, accurate financial information directly to users across the country. It is...

Government Set To Implement “One State, One RRB”

The Indian government is set to implement the "One State, One RRB" (Regional Rural Bank) policy to improve operational efficiency, reduce competition, and consolidate the existing 43 RRBs into 28. The Ministry of Finance aims to streamline the functioning of...

RBI Keeps FPI Investment Caps Unchanged for FY2025-26

On April 3, 2025, the Reserve Bank of India (RBI) announced that it will retain the existing Foreign Portfolio Investor (FPI) investment limits in government and corporate bonds for the financial year 2025-26. These unchanged caps include 6% for Central...

RBI Revises ATM Cash Withdrawal Charges: Key Details and Impact

The Reserve Bank of India (RBI) has announced a revision in ATM withdrawal charges, which will come into effect from May 1, 2025. As per the new rule, banks can now charge customers up to Rs 23 per transaction for...