Banking

RBI’s Transition of Urban Co-operative Banks (UCBs) to the PCA Framework

The Reserve Bank of India (RBI) will transition approximately 500 financially weak Urban Co-operative Banks (UCBs) from the Supervisory Action Framework (SAF) to the Prompt Corrective Action (PCA) framework starting April 1, 2025. This move aims to strengthen regulatory oversight...

RBI Revises Norms on Government-Guaranteed Security Receipts

The Reserve Bank of India (RBI) has introduced new guidelines for Government of India-guaranteed Security Receipts (SRs) issued by Asset Reconstruction Companies (ARCs). These regulations aim to differentiate sovereign-backed SRs from ordinary SRs, providing banks with greater flexibility in provisioning...

98.21% of Rs 2000 Banknotes Returned to Banking System, Says RBI

The Reserve Bank of India (RBI) announced on April 2, 2025, that 98.21% of Rs 2000 banknotes have been returned to the banking system, leaving only Rs 6,366 crore worth of such notes still with the public. This follows the...

Enhanced RBI Supervision Over Co-operative Banks

The Banking Regulation (Amendment) Act, 2020 has strengthened the Reserve Bank of India's (RBI) oversight over co-operative banks by expanding its powers in management, audit, capital requirements, and bank restructuring. These amendments, effective from June 26, 2020, have made several...

90th Anniversary of the Reserve Bank of India (RBI): A Milestone in India’s Financial History

The Reserve Bank of India (RBI) marks its 90th anniversary in 2025, commemorating nine decades of financial governance, economic stability, and monetary policy regulation in India. Established on April 1, 1935, under the Reserve Bank of India Act, 1934, the...

Parliament Passes Banking Laws (Amendment) Bill, 2024 – Key Changes Introduced

On March 26, 2025, Parliament passed the Banking Laws (Amendment) Bill, 2024, which introduces several key reforms in India's banking sector. The bill, approved by the Rajya Sabha through a voice vote, was earlier passed by the Lok Sabha in...

Axis Bank, J.P. Morgan Roll Out Anytime Dollar Payments for Clients

India’s Axis Bank has partnered with J.P. Morgan to launch real-time US dollar payment capabilities for commercial clients in India. This initiative is powered by Kinexys, J.P. Morgan’s blockchain and digital assets unit. The new service enables Indian companies to...

8th State Level Coordination Committee (SLCC) Meeting Conducted by RBI in Sikkim

The Reserve Bank of India (RBI) organized the 8th State Level Coordination Committee (SLCC) Meeting in Gangtok, Sikkim, on March 26, 2025. The meeting, chaired by Shri Ravindra Telang, Chief Secretary of Sikkim, was convened by Shri Thotngam Jamang, Regional...

HDFC Bank Embassy Fixed Deposit: A Comprehensive Guide

HDFC Bank has outlined the details of its Embassy Deposits, which are exclusively available to diplomats, non-diplomatic staff, and diplomatic missions. These deposits are Foreign Currency (FCY) Term Deposits, currently available only in USD (United States Dollar). The latest update...

RBI Revises Priority Sector Lending (PSL) Norms Effective April 1, 2025

The Reserve Bank of India (RBI) has issued revised Priority Sector Lending (PSL) guidelines, which will come into effect from April 1, 2025. The new norms aim to enhance credit accessibility to priority sectors, including agriculture, MSMEs, renewable energy, housing,...