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RBI announces premature redemption price of Rs 15,275 per unit for SGB 2019-20 Series VII, effective June 10, 2026.
RBI imposes Rs 41.80 lakh penalty on Canara Bank for non-compliance with KYC norms and misclassifying inoperative accounts.
SBI staff strike for May 25-26 deferred after talks with management. All branches to function normally. Union demands included staff shortages, pensions, and wage issues.
Government sells 8% stake in Central Bank of India via OFS at Rs 31/share. Retail investors can bid on May 25. Green shoe option included.
EY report shows 82% of Indian banking customers trust banks with data, but only 73% are satisfied with fraud resolution. Customers demand omnichannel services and faster dispute resolution.
RBI cancels Yashwant Co-operative Bank's licence due to weak finances. Depositors to get up to ₹5 lakh via DICGC insurance, with 99% fully covered.
RBI restricts Nagar Sahakari Bank, limiting withdrawals to Rs 10,000 due to liquidity issues. Depositors eligible for DICGC insurance up to Rs 5 lakh.
Bank of India increases FD rates on deposits below Rs 3 crore. New rates: 6.50% for 1-2 years, 6.60% for 2-3 years, and 6.70% for 3 years. Senior citizens get extra benefits.
RBI cancels Sarvodaya Co-operative Bank licence immediately due to inadequate capital. 98% of depositors to get full insurance up to Rs 5 lakh.
Govt approves RRB Viability Plan 2.0 for 2025-28, focusing on 30 performance metrics to enhance financial sustainability, governance, and rural credit expansion.
DFS pushes mandatory e-filing, hybrid hearings, and e-DRT 2.0 to reduce pendency and speed up debt recovery cases in DRTs and DRATs.
FM Nirmala Sitharaman confirms IDBI Bank disinvestment will continue despite earlier bids falling below reserve price. No plans for PSB consolidation yet.
RBI schedules underwriting auction for Rs 32,000 crore in government bonds across four tenures. Details on MUC, ACU commitments for Primary Dealers.
A government committee will review the 26% voting rights cap for private shareholders in banks, a key hurdle in IDBI Bank privatisation.
RBI's new e-mandate framework requires 24-hour prior alerts for recurring payments, with enhanced customer control and security.
RBI issues new e-mandate rules requiring additional authentication for recurring payments over ₹15,000 and high-value transactions to enhance security.
Indian bank credit grew 16.1% YoY to Rs 213.6 lakh crore, outpacing deposits. The Credit-Deposit ratio remains elevated at 81.4%.
RBI relaxes April curbs on rupee derivative trades, withdrawing NDF bans and easing related-party FX rules to restore normal market hedging activity.
RBI opens premature redemption for SGB 2020-21 Series VII. Investors can exit with over 200% capital gains. Learn price, tax rules & procedure.
FICCI-IBA survey reveals banks' constructive outlook on credit growth, driven by retail, SME lending, and a focus on AI, cybersecurity, and green finance.
