Banking

SBI’s Market Capitalization Soars to Rs 6 Trillion: A 17% Surge in 1 Month

Shares of State Bank of India (SBI) have reached new heights, hitting a record Rs 659.50, marking a substantial 17% surge in the past month. This surge has outpaced the market, with S&P BSE Sensex and Nifty 50 up by...

RBI Central Board Holds 605th Meeting to Deliberate on Economic Landscape

Ekta Nagar (Kevadia), December 18: The 605th gathering of the Central Board of Directors of the Reserve Bank of India, led by Governor Shaktikanta Das, meticulously examined the prevailing economic and financial landscape. The discussions, held against the backdrop of...

IndusInd Bank Introduces ‘Indus Solitaire Program’ for the Diamond Industry

IndusInd Bank has recently launched the 'Indus Solitaire Program,' an innovative community banking initiative specifically designed to cater to the unique needs of the diamond industry. This comprehensive program is set to provide an array of exclusive benefits and features,...

RBI Fines 5 Co-Operative Banks

  The Reserve Bank of India (RBI) has recently taken strict action against five cooperative banks, issuing monetary penalties for deficiencies in regulatory compliance. These cooperative banks include Indapur Urban Co-operative Bank Ltd, Janakalyan Sahakari Bank Ltd, The Patan Urban...

IDFC FIRST Bank, LIC Cards, and Mastercard Introduce Exclusive Co-Branded Credit Card

In a significant partnership, IDFC FIRST Bank, LIC Cards, and Mastercard have joined forces to unveil an exclusive co-branded credit card tailored to address the ever-evolving financial requirements of the nation. The collaboration aims to cater to the diverse needs...

Surge in Deposits and Advances for Scheduled Banks to over ₹2-Lakh Cr each in December 1 Fortnight

Deposits and advances of all scheduled banks witnessed a remarkable surge, each exceeding ₹2-lakh crore in the reporting fortnight concluding on December 1, 2023, as per the Reserve Bank of India's (RBI) Scheduled Banks' Statement of Position in India. Key...

RBI Grants Authorization to Bandhan Bank for Pension Disbursement to Retired Railway Employees

Bandhan Bank recently announced its official authorization by the Reserve Bank of India (RBI) to facilitate pension disbursement through e-Pension Payment Orders (e-PPOs) on behalf of the Ministry of Railways. The bank is in the process of integrating with the...

Indian Banks Expand Overseas Presence to 417 in FY23: RBI Survey

Indian banks significantly increased their overseas presence, reaching 417 subsidiaries in the fiscal year 2022-23, up from 399 in the previous year, according to a recent Reserve Bank of India (RBI) survey. The survey encompasses 14 Indian banks with foreign...

SBI to sign 70 million euro LoC with KfW for solar projects

Empowering Solar Initiatives: SBI's €70 Million Line of Credit Agreement In a significant move towards sustainable energy, the State Bank of India (SBI) is set to sign a €70 million Line of Credit (LoC) with the German Development Bank KfW...

Poonawalla Housing Finance Becomes Grihum Housing Finance

In a strategic move following its acquisition by TPG Capital Asia, Poonawalla Housing Finance has undergone a significant rebranding, emerging with a new identity — Grihum Housing Finance. This transformation comes as TPG Capital Asia acquired a substantial 99.02% equity...