Banking

Bandhan Bank Board Approves Reappointment of Chandra Shekhar Ghosh as MD & CEO

The board of directors at Bandhan Bank has given the green light for the reappointment of Chandra Shekhar Ghosh as the Managing Director & Chief Executive Officer (MD&CEO). The Kolkata-based private sector lender has extended Ghosh's tenure for a period...

Govt cancels IDBI Bank asset valuer appointing bid, fresh RFP to be issued

In a recent development, the government announced the cancellation of the bid process for appointing an asset valuer for the strategic sale of IDBI Bank Ltd. The decision stems from a lack of sufficient interest from bidders, as only a...

Private banks make largest single-day govt bond purchase in 7 years

Indian private sector banks recently orchestrated the most substantial single-session acquisition of government bonds in seven years, marking a significant shift in the country's financial landscape. Key Purchase Details Private sector banks collectively purchased government bonds totaling a net value...

RBI To Implement A New Penalty Framework For Banks

  The Reserve Bank of India (RBI) is reportedly contemplating a comprehensive review of its penalty system. The proposed changes under consideration involve a potential increase in penalty amounts. This adjustment could be based on factors such as the size...

Acko partners with R Madhavan as their ‘voice of the customer’

Introduction ACKO, the insurtech company making insurance convenient, transparent, and accessible for Indians, has partnered with renowned actor R Madhavan as its ‘Voice of the Customer’. This collaboration aims to dispel common misconceptions about insurance and empower consumers to make...

Karnataka Bank Partners with HDFC Life to Offer Insurance Products

Introduction Karnataka Bank, a leading Mangaluru-based private sector lender, has announced a strategic partnership with HDFC Life, one of India's premier life insurance providers. This collaboration aims to provide customers with a comprehensive suite of innovative and customer-centric financial solutions....

Kotak Mahindra Bank Appoints Ashok Vaswani As MD & CEO

  The Board of Directors of Kotak Mahindra Bank Ltd. made a significant announcement on Friday, appointing Ashok Vaswani as Managing Director & CEO, and a key managerial personnel of the bank. This appointment is set for a three-year term,...

IndusInd Bank Launches ‘IndusInd Bank Platinum RuPay Credit Card’ on UPI

IndusInd Bank has taken a significant leap in the realm of digital payments with the launch of its groundbreaking initiative - the 'IndusInd Bank Platinum RuPay Credit Card' on the UPI platform. This collaboration with the National Payments Corporation of...

RBI Imposes ₹90.92 Lakh Monetary Penalty On Axis Bank

  The Reserve Bank of India (RBI) recently levied a substantial monetary penalty of ₹90.92 lakh on Axis Bank Ltd, citing non-compliance with several key directives issued by the apex bank. The penalties were related to the 'Reserve Bank of...

RBI Directs Bajaj Finance to Halt Loans for ‘eCOM’ and ‘Insta EMI’ Products

In a significant move, the Reserve Bank of India (RBI) issued a directive on November 15, instructing Bajaj Finance to cease the sanction and disbursal of loans under two of its lending products, namely 'eCOM' and 'Insta EMI Card.' This...