HDFC bank announces cut in MCLR for 1 and 2 years tenure by 5 bps
The Housing Development Finance Corporation (HDFC) bank has slashed its Marginal Cost based lending rate (MCLR) for loan of two and three years tenor by 5 basis points. Taking the…
Finance Ministry Announces to Roll Out ₹20 coin; PM Modi Unveils New Series of Visually impaired friendly coins
The Union Finance Ministry in a notification on Thursday announced to roll out ₹20 coin almost 10 years after the release of ₹10 coin. The new coin will have a…
RBI fines 19 lenders including ICICI bank and SBI over non-compliance of SWIFT guidelines
The Reserve Bank of India fines at least 19 lenders for not complying with its guidelines on the use of banking messaging software-SWIFT. These banks included ICICI Bank and Fraud…
Bank of Baroda slashes lending rate by 10 basis points, to cut interest on home and auto loans
The state owned Bank of Baroda cuts the lending rate by 10 basis points. The rate cut would enable the borrowers to take loan at lower lending rate, making home…
After bailout plan and rights issue, Jet airways pledges FDs to SBI to raise capital
Cash-crunched Jet Airways pledged its Fixed Deposits to the State Bank of India (SBI) to borrow ₹225 Crore loan. The various FD’s of airline has a total value of about…
Yes Bank gets 1 Crore penalty by RBI for violating Swift messaging software directions
The Reserve Bank of India (RBI) imposed 1 Crore penalty on the private lender Yes Bank for non-compliance of directions on Swift messaging software. Swift which stands for Society for…
RBI takes out Allahabad Bank, Corporation bank and Dhanlaxmi bank out of PCA framework
The Reserve Bank of India (RBI) on Friday removed three banks from its Prompt Corrective Action(PCA) framework subject to certain condition and constraints. The three banks are Allahabad Bank, Corporation…
RBI proposes new regulations regarding variable pay for top executives of banks
The Reserve Bank of India (RBI) has proposed new set of rules on multiple matters including the variable pay of top executives of banks. The regulator in a discussion paper…
RBI extends deadline for full KYC for eWallets by 6 months
Bringing big relief to the digital payments platform, the central bank of India extended its earlier deadline of February 28 for complying with full Know Your Customer (KYC) norms.The move…
Public Sector Banks surge on stock market as government approved recapitalization plan
After the announcement by the government for the recapitalization of 12 Public Sector banks(PSB), the shares of the Public lenders surged in the share market. This hike comes a couple…