by newsworm | Feb 14, 2025 | Banking, RBI
The Reserve Bank of India (RBI) has imposed restrictions on the Mumbai-based New India Co-operative Bank, banning it from issuing new loans and allowing withdrawals of deposits for a period of six months. The decision was made due to supervisory concerns and the... by newsworm | Feb 13, 2025 | Banking, Indian Overseas Bank, RBI
India’s Chennai-based Indian Overseas Bank (IOB) has made a decision to reduce its Repo Linked Lending Rate (RLLR) by 25 basis points (bps). The reduction brings the RLLR down from 9.35% to 9.10%. This move is a follow-up to the Reserve Bank of India’s... by newsworm | Feb 13, 2025 | Au Small Finance Bank, Banking, Central Bank of India, Indian Bank, RBI
Here is a 400-word summary of the article: The Reserve Bank of India (RBI) has approved a unit of Singapore’s Temasek Holdings to raise its stake in AU Small Finance Bank, a specialized bank in India. Temasek’s unit, Temasek International (I) Pte, which is... by newsworm | Feb 13, 2025 | Banking, RBI
The Reserve Bank of India (RBI) has announced that banks will remain open on March 31, 2025, despite being a holiday in most states to facilitate year-end financial closures. The decision was made to prevent discrepancies in financial reporting. The banks, which... by newsworm | Feb 13, 2025 | Bank of Baroda, Banking, Canara Bank, Indian Overseas Bank, Punjab National Bank, RBI, Union Bank of India
The Reserve Bank of India (RBI) has reduced the repo rate by 25 basis points to 6.25%, its first rate cut in almost two years. In response, several major banks, including Canara Bank, PNB, Union Bank of India, and Bank of Baroda, have cut their repo-linked lending... by newsworm | Feb 12, 2025 | Banking, RBI, State Bank of India
The State Bank of India (SBI) has launched a new deposit scheme called the SBI Green Rupee Term Deposit, which is designed to mobilize funds for green activities. The scheme is in line with the guidelines set by the Reserve Bank of India (RBI) on April 11, 2023, for...