Banking
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RBI Eases KYC Norms: Allows BCs and Video Uploads
In a major move aimed at improving customer convenience and financial inclusion, the Reserve Bank of India (RBI) on June 12, 2025, issued a circular easing Know Your Customer (KYC) norms. The central bank has now allowed Business Correspondents (BCs)...
Last updated on June 13th, 2025 04:35 pm -
SBI General Insurance Appoints Mohd. Arif Khan as Deputy CEO
SBI General Insurance, one of India’s leading general insurance companies, has appointed Mohd. Arif Khan as its Deputy Chief Executive Officer. A seasoned professional with over 25 years of service in the State Bank of India (SBI), Khan brings deep...
Last updated on June 12th, 2025 12:32 pm -
French and UAE Banks Set to Expand Footprint in GIFT City’s Financial Landscape
In a significant boost to India’s International Financial Services Centre (IFSC) ambitions, foreign banks from France and the UAE are lining up to establish IFSC Banking Units (IBUs) in GIFT City, Gujarat. With recent approvals to Natixis, Credit Agricole, and...
Last updated on June 12th, 2025 12:26 pm -
₹5,000 Cr Green Bonds in RBI’s ₹30,000 Cr G-Sec Auction to Fund Eco Projects
In a major boost to sustainable financing, the Reserve Bank of India (RBI) will re-issue ₹5,000 crore worth of Sovereign Green Bonds (SGrBs) as part of a ₹30,000 crore government securities (G-Secs) auction scheduled for June 13, 2025. These bonds,...
Last updated on June 12th, 2025 10:57 am -
SEBI to Launch ‘SEBI Check’ to Verify UPI IDs and Curb Investment Frauds
In a major move to enhance investor protection and curb online financial frauds, the Securities and Exchange Board of India (SEBI) announced a new initiative titled “SEBI Check.” This tool will allow investors to verify UPI payment handles used by...
Last updated on June 12th, 2025 10:41 am -
SEBI Opens Settlement Window for Stock Brokers in Algo Trading Violation Cases
The Securities and Exchange Board of India (SEBI) has announced a three-month settlement scheme for stock brokers facing regulatory proceedings for associating with unregulated algorithmic trading (algo) platforms. Open from June 16 to September 16, 2025, the scheme allows brokers...
Last updated on June 11th, 2025 11:26 am -
SBI Pays ₹8,076.84 Crore Dividend to Government for FY25
In a major boost to the government's non-tax revenue, the State Bank of India (SBI), the country’s largest public sector lender, has paid a dividend of ₹8,076.84 crore for the financial year 2024-25. The dividend cheque was formally handed over...
Last updated on June 10th, 2025 12:33 pm -
RBI Raises Gold Loan LTV Ratio to 85% for Loans Below ₹2.5 Lakh
The Reserve Bank of India (RBI) has announced a major revision in its gold loan norms by increasing the loan-to-value (LTV) ratio for loans up to ₹2.5 lakh to 85%, effective from April 1, 2026. This decision follows extensive consultations...
Last updated on June 7th, 2025 01:50 pm -
RBI Premieres 5-Part Docuseries ‘Unlocked: Beyond the Rupee’ to Demystify India’s Central Bank
On June 3, 2025, the Reserve Bank of India (RBI) launched a five-part documentary series titled ‘RBI Unlocked: Beyond the Rupee’, in collaboration with Jio Hotstar. Produced by Chalkboard Entertainment, the series offers an unprecedented look into the RBI's 90-year...
Last updated on June 6th, 2025 01:50 pm -
Canara Bank Removes Minimum Balance Rule for All SB Accounts
In a major move aimed at promoting financial inclusion and customer convenience, Canara Bank has waived the minimum balance requirement across all its savings bank (SB) accounts, including regular savings, salary, and NRI accounts. This decision eliminates Average Monthly Balance...
Last updated on June 6th, 2025 11:30 am