Banking

  • RBI Notifies New Six-Member Payments Regulatory Board Including Government Nominees

    On May 21, 2025, the Reserve Bank of India (RBI) officially notified the establishment of a new Payments Regulatory Board (PRB), a six-member body tasked with regulating and supervising payment systems in India. This new board replaces the earlier Board...

    Last updated on May 24th, 2025 04:06 pm
  • RBI Transfers Record ₹2.69 Lakh Crore Surplus to Centre for FY25

    In a landmark fiscal development, the Reserve Bank of India (RBI) has approved a record surplus transfer of ₹2.69 lakh crore to the Central Government for the financial year 2024-25. The decision, taken during the 616th meeting of the Central...

    Last updated on May 24th, 2025 01:11 pm
  • DoT Launches Financial Fraud Risk Indicator to Tackle Cyber Crime

    In a proactive move to safeguard India’s fast-growing digital economy, the Department of Telecommunications (DoT) has introduced the Financial Fraud Risk Indicator (FRI), a powerful analytics tool under the Digital Intelligence Platform (DIP). This initiative aims to identify and block...

    Last updated on May 22nd, 2025 11:52 am
  • RBI Cancels HCBL Co-operative Bank Licence Over Capital Shortfall

    Reserve Bank of India (RBI) cancelled the licence of HCBL Co-operative Bank, a Lucknow-based urban cooperative bank, citing inadequate capital and no earning prospects. With immediate effect, the bank has ceased all banking operations, and the Uttar Pradesh Registrar of...

    Last updated on May 20th, 2025 02:37 pm
  • RBI to Issue New Rs 20 Banknotes with Governor Sanjay Malhotra’s Signature

    The Reserve Bank of India (RBI) has announced that it will soon release new Rs 20 denomination banknotes bearing the signature of the newly appointed RBI Governor, Sanjay Malhotra. These banknotes will be part of the Mahatma Gandhi (New) Series...

    Last updated on May 19th, 2025 09:48 am
  • Canara Bank Reports 33% Surge in Q4 Net Profit

    Canara Bank, one of India’s leading public sector banks, reported a strong financial performance in the fourth quarter of FY2024-25. The bank recorded a significant 33.19% year-on-year increase in net profit, reaching ₹5,004 crore, as compared to ₹3,757.23 crore in...

    Last updated on May 15th, 2025 02:07 pm
  • PNB to Exit India SME Asset Reconstruction Company, Sells Stake for ₹34 Crore

    Punjab National Bank (PNB), one of India’s leading public sector banks, has taken a significant step to streamline its investment portfolio by agreeing to sell its entire stake in the India SME Asset Reconstruction Company Limited (ISARC) for ₹34.04 crore....

    Last updated on May 15th, 2025 12:59 pm
  • Canara and Union Bank Unveil Tailored Deposit Products to Boost Mobilization

    In response to slowing deposit growth, two major public sector banks — Canara Bank and Union Bank of India — have launched innovative deposit schemes to attract high-value customers and improve resource mobilization. These new products, announced on May 13,...

    Last updated on May 14th, 2025 02:37 pm
  • Ant Group to Sell 4% Stake in Paytm Worth ₹2,066 Crore via Bulk Deal

    Chinese financial services major Ant Group, through its affiliate Antfin (Netherlands) Holding BV, has announced plans to sell a 4% stake in fintech company One97 Communications Ltd—the parent firm of Paytm—for approximately ₹2,066 crore via bulk deals on Indian stock...

    Last updated on May 13th, 2025 02:54 pm
  • RBI Cracks Down on Digital Lending Apps: Mandatory Reporting from May 13

    The Reserve Bank of India (RBI) has issued a significant directive aimed at enhancing transparency and borrower protection in the digital lending ecosystem. As per the new guidelines under the RBI (Digital Lending) Directions, 2025, all regulated entities (REs) must...

    Last updated on May 13th, 2025 12:29 pm