Banking

RBI Revises Guidelines for Banks’ Capital Market Exposure in T+1 Settlement

In response to the introduction of the T+1 settlement regime for stocks, the Reserve Bank of India (RBI) has updated the guidelines for custodian banks regarding the issuance of Irrevocable Payment Commitments (IPCs). Under these revised guidelines, custodian banks issuing...

Ujjivan Small Finance Bank Names Sanjeev Nautiyal as MD & CEO

Ujjivan Small Finance Bank has announced the appointment of Sanjeev Nautiyal as its Managing Director and Chief Executive Officer (MD & CEO) for a tenure of three years, effective from July 1, 2024. The Reserve Bank of India (RBI) has...

HDFC Life Introduces No Jhanjhat Life Insurance Fatafat Campaign: Revolutionizing Insurance Purchase Experience

HDFC Life launches the No Jhanjhat Life Insurance Fatafat campaign, aimed at simplifying and expediting life insurance purchases through its online platform. The campaign underscores the importance of addressing India's low insurance penetration and vast protection gap. Seamless Online Experience Bid...

YES Bank Collaborates with ANQ to Launch Pi and Phi Credit Cards

YES Bank has partnered with ANQ to introduce two innovative credit cards, Pi and Phi, aiming to blend traditional banking with fintech solutions. The Pi card offers digital-only credit on UPI for domestic transactions, while the Phi card provides physical...

Fi Secures NBFC License from RBI: Expanding Financial Services Offerings

Fi, a neobanking startup, backed by investors such as Peak XV and Temasek, has obtained a non-banking finance company (NBFC) license from the Reserve Bank of India (RBI), enabling it to provide loans from its own books. This development aligns...

ICICI Bank Joins India’s Top 5 Companies with Market Cap Surpassing Rs 8 Trillion

In a remarkable achievement, ICICI Bank has etched its name among India's top five companies by market capitalization, surpassing the Rs 8 trillion mark. The private lender's shares surged over 5%, propelling its market value to new heights and cementing...

RBI Imposes Monetary Penalties on Co-operative Banks

The Reserve Bank of India (RBI) has recently imposed monetary penalties on several co-operative banks for various regulatory violations. These penalties are based on deficiencies in regulatory compliance and are not intended to validate or invalidate any specific transactions or...

Commercial Paper Issuances Surge to Four-Year High

The Reserve Bank of India's decision to increase risk weights on bank loans to higher-rated non-banking financial companies (NBFCs) has led to a significant uptick in quarterly commercial paper (CP) issuances. This, coupled with investor confidence and diversified funding sources,...

RBI Guidelines for SFBs Transitioning to Universal Banks

The Reserve Bank of India (RBI) has issued guidelines for Small Finance Banks (SFBs) seeking to transition into Universal Banks, providing a pathway for conversion. This voluntary conversion is subject to specific criteria laid out by the RBI. Eligibility Criteria...

RBI’s Guidelines for Voluntary Transition of Small Finance Banks to Universal Banks

The Reserve Bank of India (RBI) has issued comprehensive guidelines outlining the voluntary transition path for Small Finance Banks (SFBs) seeking to become Universal Banks. These guidelines set specific eligibility criteria and procedural requirements for such a transition, aiming to...