Economic Times
The Reserve Bank of India has levied penalties on two banks: Rs 2.68 crore on UCO Bank for violating rules on current accounts, interest on deposits,
The pure-play microfinance lenders categorized as NBFC-MFIs saw nearly 12% less debt funding in the first quarter, according to MFIN data. Lower disbu
LIC also paid an interim dividend of Rs 2,441.45 crore on March 1, 2024, thus totaling Rs 6,103.62 crore dividend paid to the Centre for the year 2023
Banks' liquidity coverage ratio (LCR) is set to decrease due to a rise in wholesale deposits and a decline in retail deposits, necessitating investmen
LIC has received a GST notice amounting to Rs 294 crore and a penalty of Rs 29.4 crore from the Deputy Commissioner of State Tax in Mumbai for incorre
The final guidelines for project loans are expected to be announced in the next two to three months, according to a senior RBI official. The official
Borrowers in non-metro regions, including rural, semi-urban, and urban areas, are becoming more credit-conscious than their metro counterparts. Credit
India's largest lender, SBI, hopes a stock market correction will drive depositors back to banks. As retail investors seek higher returns in equities,
State-owned Bank of Maharashtra has opened a branch within the premises of the Supreme Court of India to cater to the financial needs of the court and
The United States has expressed concerns about linking domestic fast payment systems like India's UPI for faster global transactions. Federal Reserve'
State Bank of India chairman Challa Sreenivasulu Setty, appointed for three years, urges employees to elevate the bank into the most valued financial
Pradhan Mantri Jan Dhan Yojana, launched in 2014, has reached 531 million beneficiaries. The scheme helped in distributing welfare funds and provided
RBI governor Shaktikanta Das announced plans to make UPI and RuPay global to improve cross-border payment systems. The central bank aims to create UPI
The National Company Law Appellate Tribunal has asked IL&FS to justify extending its protection from legal proceedings, which currently expires on Oct
IndiaFirst Life has become the first Indian life insurer to start operations in Gujarat International Finance Tec City (GIFT City). The company has in
UPI is an instant real-time payment system developed by NPCI to facilitate inter-bank transactions through mobile phones. NPCI backed RuPay debit and
The Reserve Bank of India has designated the Fintech Association for Consumer Empowerment (FACE) as a Self-Regulatory Organisation in the FinTech Sect
India is also trying to build and help countries in the global south with DPI (Digital Public Infrastructure). "For a long time, India has always been
C S Setty, the new Chairman of SBI, outlined his vision to enhance the bank’s net profit and establish it as India's 'Best Bank'. With a vast custom
State Bank of India has raised Rs 7,500 crore through Basel III compliant tier 2 bonds at a 7.42% annual rate. This 15-year bond has a call option aft
