Banking

RBI to Issue ₹50 Banknotes with Governor Sanjay Malhotra’s Signature

The Reserve Bank of India (RBI) has announced the issuance of new ₹50 denomination banknotes featuring the signature of its newly appointed Governor, Sanjay Malhotra. Malhotra took charge as the 26th RBI Governor in December 2024, succeeding Shaktikanta Das. These...

SEBI Unveils MITRA to Track Inactive Mutual Fund Folios

The Securities and Exchange Board of India (SEBI) has introduced the Mutual Fund Investment Tracing and Retrieval Assistant (MITRA), a platform designed to help investors track, trace, and reclaim inactive or unclaimed mutual fund folios. This move is aimed at...

RBI Fines Federal Bank & Karur Vysya Bank for Rule Violations

The Reserve Bank of India (RBI) has imposed monetary penalties on Federal Bank Ltd and Karur Vysya Bank Ltd for non-compliance with regulatory guidelines. Federal Bank has been fined ₹27.30 lakh, while Karur Vysya Bank faces a penalty of ₹8.30...

RBI Defers Liquidity Coverage Ratio and Project Financing Norms to 2026

In a significant decision aimed at ensuring financial stability and supporting banks, the Reserve Bank of India (RBI) has postponed the implementation of Liquidity Coverage Ratio (LCR) and project financing guidelines by a year. The earliest implementation date is now...

RBI Initiates Comprehensive Review of Financial Market Timings

In a major move to enhance market efficiency, the Reserve Bank of India (RBI) has set up a nine-member Working Group to review the trading and settlement timings across various regulated financial markets. This decision comes in response to evolving...

RBI Approves Voluntary Amalgamations of Urban Co-operative Banks

In a significant move to improve the financial stability of the urban co-operative banking sector, the Reserve Bank of India (RBI) has approved the voluntary amalgamation of two urban co-operative banks in Hyderabad, Telangana. This step aligns with the RBI's...

RBI Introduces Additional Factor Authentication (AFA) for International Transactions

In a significant move to enhance digital payment security, the Reserve Bank of India (RBI) has announced the implementation of Additional Factor Authentication (AFA) for cross-border “Card Not Present” (CNP) transactions. This initiative aims to secure international transactions using Indian-issued...

IDFC FIRST Bank Expands AI Amitabh Bachchan Avatar

IDFC FIRST Bank, in collaboration with Ikonz Studios, has introduced an AI-powered holographic avatar of its brand ambassador, Amitabh Bachchan, across five additional cities. This initiative aims to revolutionize customer interaction by providing an immersive and personalized banking experience. What...

IOB Marks 89 Years with a Strong Sustainability Commitment

As Indian Overseas Bank (IOB) celebrates its 89th Foundation Day on February 10, 2025, the bank continues to focus on sustainability and responsible banking. Strengthening its environmental commitments, IOB has now become a signatory of the Partnership for Carbon Accounting...

RBI Clears Tata Communications’ Payment Arm Sale to Findi

The Reserve Bank of India (RBI) has approved Tata Communications' plan to sell its entire stake in Tata Communications Payment Solutions Ltd (TCPSL) to Transaction Solutions International (TSI), the Indian subsidiary of Australian fintech company Findi. The deal, first announced...