Banking

Corporate Profits Jump 15.3% in FY24 Despite Slow Sales: RBI

Indian corporate profits witnessed a strong rise of 15.3% in FY24, even as sales growth remained moderate at 5.5%, according to the Reserve Bank of India (RBI) report. The report highlights that cost-cutting measures played a key role in improving...

SEBI Fines BSE’s ICCL ₹5 Crore for Regulatory Violations

The Securities and Exchange Board of India (SEBI) has imposed a penalty of ₹5.05 crore on the Indian Clearing Corporation Ltd. (ICCL), a subsidiary of BSE Ltd., for regulatory violations. The penalty follows an inspection that revealed non-compliance with SEBI’s...

RBI Raises Small Loan Limit for UCBs to ₹3 Crore

The Reserve Bank of India (RBI) has revised the small-value loan ceiling for Urban Co-operative Banks (UCBs), increasing it to ₹3 crore per borrower. This change is part of a broader initiative to redefine small-value loans and strengthen the financial...

AMFI Launches Chhoti SIP, Tarun Yojana & MITRA for Wider MF Access

The Association of Mutual Funds in India (AMFI) has unveiled three strategic initiatives—Chhoti SIP, Tarun Yojana, and MITRA—to enhance financial inclusion, promote investor awareness, and facilitate the retrieval of unclaimed investments. These programs align with the Securities and Exchange Board...

PNB Partners with ITBP to Provide Exclusive Banking Benefits

Punjab National Bank (PNB) has signed a Memorandum of Understanding (MoU) with the Indo-Tibetan Border Police (ITBP) to provide specialized banking services and exclusive financial benefits to ITBP personnel, pensioners, and their families. The agreement, formalized on February 11, 2025,...

IndusInd Bank Becomes Official Banking Partner of PGTI

IndusInd Bank has announced its partnership with the Professional Golf Tour of India (PGTI) as its official Banking Partner. This collaboration aims to enhance the banking experience for Ultra High Net Worth Individuals (UHNIs) and High Net Worth Individuals (HNIs)...

RBI Launches Financial Literacy Week 2025 for Women’s Inclusion

The Reserve Bank of India (RBI) has initiated the Financial Literacy Week (FLW) 2025 from February 24 to 28, focusing on "Financial Literacy: Women's Prosperity." This annual event aims to educate women about managing finances, making informed decisions, and contributing...

SEBI Fines Axis Securities ₹10 Lakh for Rule Violations

The Securities and Exchange Board of India (SEBI) has imposed a fine of ₹10 lakh on Axis Securities for multiple violations of stockbroker regulations. The regulatory action follows an inspection covering the period from April 2021 to November 2022. SEBI...

RBI Fines Citibank, Asirvad Micro Finance, and JM Financial for Violations

The Reserve Bank of India (RBI) has imposed monetary penalties on Citibank N.A., Asirvad Micro Finance, and JM Financial Home Loans for failing to comply with key regulatory norms. According to the central bank, these financial institutions were found violating...

Bajaj Allianz Life Launches Bima-ASBA, a First in India

Bajaj Allianz Life Insurance Company (BALIC) has introduced the Bima-Application Supported by Blocked Amount (Bima-ASBA) facility, making it the first insurer in India to adopt this new payment method. The initiative, introduced by the Insurance Regulatory and Development Authority of...