Banking

King Charles III currency notes introduced in UK

The Bank of England is replacing old banknotes featuring Queen Elizabeth with new ones featuring King Charles III. People can exchange their old notes for new ones until June 30, with a limit of £300. About New Notes The portrait...

SEBI Forms Committee to Review Clearing Corporations

In response to the dynamic growth of Indian securities markets, SEBI has established a committee, chaired by Usha Thorat, former Deputy Governor of the RBI, to assess and propose enhancements to the ownership and economic framework of clearing corporations. Reviewing...

Enhancing Insurance Reach and Financial Inclusion: Axis Bank and Bajaj Allianz Forge Bancassurance Alliance

Axis Bank and Bajaj Allianz General Insurance have joined forces in a strategic bancassurance partnership aimed at boosting insurance penetration and financial inclusion in India. Through this collaboration, Bajaj Allianz General Insurance products will be distributed across Axis Bank's extensive...

Bank Clinic: Your Guide to Complaint Resolution

The Bank Clinic, spearheaded by the All India Bank Employees' Association (AIBEA), aims to empower retail customers by providing guidance on addressing their grievances in the rapidly evolving landscape of banking technology and regulatory standards set by the Reserve Bank...

PNB Board Approves 10% Stake Dilution in Canara HSBC Life Insurance via IPO

The Board of Punjab National Bank (PNB) has approved the initiation of the process to dilute 10% of its shareholding in Canara HSBC Life Insurance through an initial public offering (IPO). PNB currently holds a 23% stake in this life...

Axis Bank and Mastercard Introduce NFC Soundbox

In a groundbreaking collaboration, Axis Bank and Mastercard have launched the NFC Soundbox, set to redefine payment experiences in India. This innovative device is poised to be an all-in-one solution, enabling users to accept various payment methods such as Bharat...

RBI Penalizes SBM Bank (India) With Rs 88.70 Lakh Fine

The Reserve Bank of India (RBI) has imposed a penalty of Rs 88.70 lakh on SBM Bank (India) for non-compliance with specific regulatory norms. This includes licensing conditions and directives related to the Liberalised Remittance Scheme (LRS). Non-Compliance with Licensing...

Canara Bank to Dilute 14.50% Stake in Canara HSBC Life Insurance via IPO

Bengaluru-headquartered Canara Bank has approved initiating the process of diluting a 14.50% stake in its subsidiary, Canara HSBC Life Insurance Company, through an initial public offering (IPO). This move is pending approval from the Reserve Bank of India (RBI) and...

Key Insights from the RBI Annual Report 2023-24

The Reserve Bank of India's (RBI) Annual Report for 2023-24, presented to the Central Government under Section 53(2) of the Reserve Bank of India Act, 1934, provides a comprehensive analysis of the global and domestic economic environment, the working and...

Banks’ Credit Growth Outlook for FY25: CRISIL Analysis

In its latest report, CRISIL Ratings predicts a slowdown in bank credit growth for fiscal year 2025 to 14%, marking a decline of 200 basis points from the estimated 16% growth in FY24. This moderation is attributed to various factors...