State Bank of India and two other public sector banks slash loan rates by 25 basis points, Finance Industry Latest Updates
The State Bank of India (SBI), Bank of India, and Bank of Maharashtra have announced a reduction in their lending rates by 25 basis points (bps) following the Reserve Bank of India's (RBI) decision to lower the repo rate last week. This move aims to make loans cheaper for both existing and new borrowers. SBI's Repo Linked Lending Rate (RLLR) will...
Bank of Maharashtra slashes retail loan rates by 0.25% to boost customer affordability
The Bank of Maharashtra (BoM), a state-owned bank, has announced a reduction in its lending rate linked to the repo rate by 25 basis points. This move is in line with the Reserve Bank of India's (RBI) recent decision to slash key interest rates by 25 basis points to support economic growth. As a result, BoM's repo-linked lending rate (RLLR) has...
What’s behind the diamond trader’s alleged fugitive status in India? What lies ahead?
Mehul Choksi, the billionaire diamond trader and nephew of Nirav Modi, wanted in the Punjab National Bank (PNB) loan fraud case, may finally be on his way back to India after being arrested in Belgium at the behest of the Central Bureau of Investigation (CBI). Choksi, 65, had been living in Antwerp, Belgium, with his wife, Preeti Choksi, after...
India’s production showed a late-year surge in FY25, but is expected to encounter challenges in FY26, according to Bank of Baroda’s outlook.
According to a Bank of Baroda report, India's industrial production showed signs of improvement towards the end of FY25, driven by rising manufacturing PMI, GST collections, and e-way bill generations. The report suggests that the production growth may have picked up in the last quarter of the previous financial year, although the first quarter...
IOB Loans now feature an updated interest rate
Indian Overseas Bank (IOB) has announced a reduction of 0.25% in its repo-linked lending rate (RLLR) from 9.10% to 8.85%, providing a significant relief to home buyers. This move comes after the Reserve Bank of India (RBI) recently reduced its policy repo rate to support the economy. The reduced RLLR is expected to result in a lower effective...
Standard Chartered’s Private Banking division provides high-net-worth individuals with bespoke sports investment opportunities
Standard Chartered, a global bank, has launched a new fund that allows high net worth individuals (HNWIs) and ultra-high net worth individuals (UHNWIs) to invest in the sports industry. The fund, managed by an external manager, focuses on sports, media, and entertainment opportunities, tapping into the growing interest in sports investing. This...
India’s central bank is expected to slash the repo rate on April 9, potentially driving home loan rates down to record lows of under 8%.
The Reserve Bank of India (RBI) is set to announce its first monetary policy for the financial year 2025-26 on April 9, with markets and economists expecting a repo rate reduction of at least 25 basis points. This could lead to a decrease in home loan interest rates, making it an opportune time for those considering a new loan or refinance....
HDFC Bank Lowers Fund-Based Lending Rates by 10 Basis Points, Effective Across All Tenures
HDFC Bank has reduced its marginal cost of fund-based lending rate (MCLR) by 10 basis points across various tenures, effective Monday. The revised MCLR range now stands at 9.10-9.35%. The one-year MCLR, which is commonly used for pricing corporate loans, has decreased to 9.30% from 9.40%. This indicates that the bank's cost of fund has decreased...
Invest just Rs 2 lakh in a PNB FD and watch your money grow to Rs 2,49,943
Punjab National Bank (PNB) is a government-owned bank that offers fixed deposit (FD) schemes to its customers. FDs are a type of savings scheme that provides a fixed and guaranteed rate of return on investment. PNB FD rates vary depending on the duration of the investment, ranging from 3.50% to 7.25% for general customers and 4.00% to 7.75% for...
A total of 41 MITHS students have been awarded HDDC Parivartan scholarships.
The Madanapalle Institute of Technology & Science (MITS) has achieved a significant milestone as 41 students from the institution have been selected for the Educational Crisis Scholarship Support (ECSS) under HDFC Bank's Parivartan program. The merit-cum-need-based scholarships aim to support students in financial need, and the awardees have been...
Ahead of RBI’s monetary policy committee meeting, HDFC Bank, Yes Bank, and Punjab & Sind Bank have all cut their term deposit interest rates.
Several Indian banks, including HDFC Bank, Yes Bank, and Punjab & Sind Bank, have revised their fixed deposit (FD) interest rates ahead of the Reserve Bank of India's (RBI) Monetary Policy Committee meeting next week. HDFC Bank has discontinued its Special Edition FD scheme and introduced revised rates effective April 1, 2025, while Yes Bank has...
Financial institutions show remarkable growth in fourth-quarter lending and deposits, according to latest banking and finance reports.
The four Indian banks, HDFC Bank, Bank of Baroda, Bank of India, and IDFC First Bank, have reported robust growth in advances and deposits for the fourth quarter of 2024-25. According to their provisional business updates, HDFC Bank's deposits grew 14.1% year-on-year to ₹27.15 lakh crore, while its gross advances rose 5.4% YoY to ₹26.43 lakh...
Equitas SFB slashes rates, Bank of Baroda tees off with new scheme as RBI’s MPC meet approaches – MSN
Equitas Small Finance Bank (Equitas SFB) has reduced its lending rates for personal and business loans, in line with the several other banks that have cut their rates recently. In recent days, several banks including top 5 lenders, banks, have slashed interest rates on various loan products. On Tuesday, state-owned Bank of Baroda followed the...
Enjoy exclusive deals with OnePlus’s partnerships with ICICI and SBI banks
OnePlus has launched its Red Rush Days Sale, offering customers significant discounts on its latest smartphones. The sale, which runs from April 8 to April 13, includes direct price cuts, exchange bonuses, and attractive bank offers on both premium and mid-range OnePlus devices. During the sale period, customers can enjoy massive discounts on...
The Reserve Bank of India’s Monetary Policy Committee (MPC) kicks off its meeting today, with SBI predicting a 25-basis-point rate cut in the April 9 announcement.
The Reserve Bank of India (RBI) is set to hold its next Monetary Policy Committee (MPC) meeting from April 7-9, where it will review the current economic conditions and decide on policy rates. RBI Governor Sanjay Malhotra will announce the outcome on April 9 at 10 AM. The market expects a further 25-basis point rate cut, citing a report by the...
Electricity consumers can now transfer their security deposits to prominent public sector banks, offering a convenient and secure alternative.
The Electricity Department of the Andaman and Nicobar Islands has announced that consumers can now transfer their electricity security deposits from the Andaman and Nicobar State Cooperative Bank (ANSCB) to any of the solvent Public Sector Banks operating in the Islands. This move has been approved by the competent authority and applies to all...
SBI PO Prelims Result 2025 OUT NOW! Visit sbi.co.in to access cut-off marks, available vacancies, and other crucial updates
The State Bank of India (SBI) has announced the result of the SBI PO Prelims 2025 on April 5, 2025. Candidates who appeared for the exam can check their results on the official website, sbi.co.in. To download the result, candidates need to follow these steps: log in using their registration number, roll number, and password, and check their...
Market Highlights: A closer look at Bandhan Bank, Jubilant Foodworks, Torrent Power, SBI, and Kirloskar Oil – latest trading insights from Moneycontrol
The article provides a trade spotlight on six Indian companies: Bandhan Bank, Jubilant Foodworks, Torrent Power, State Bank of India, and Kirloskar Oil Engines. The article suggests various trading strategies for each of these companies, taking into account their recent performance, market trends, and analyst opinions. For Bandhan Bank, the...
India’s central bank is expected to slash the repo rate on April 9, potentially driving home loan rates down to record lows of under 8%.
The Reserve Bank of India (RBI) is set to announce its first monetary policy for the financial year 2025-26 on April 9, with markets and economists expecting a repo rate reduction of at least 25 basis points. This could lead to a decrease in home loan interest rates, making it an opportune time for those considering a new loan or refinance....
Enjoy exclusive deals with OnePlus’s partnerships with ICICI and SBI banks
OnePlus has launched its Red Rush Days Sale, offering customers significant discounts on its latest smartphones. The sale, which runs from April 8 to April 13, includes direct price cuts, exchange bonuses, and attractive bank offers on both premium and mid-range OnePlus devices. During the sale period, customers can enjoy massive discounts on...
Indians’ increasing infatuation with credit cards
According to recent data from the Reserve Bank of India, credit card spends in India have grown by 10.8% in January 2025, reaching INR 1.84 trillion. This growth is driven primarily by leading private and public sector banks, with ICICI Bank leading the surge in card usage. The total number of credit cards in circulation has also risen by 9.5%,...
IndusInd Bank reports that two major banks have acquired corporate loans worth over Rs 10,000 crores, according to a latest update.
According to a recent report by The Economic Times, IndusInd Bank, a private lender, has made significant efforts to boost liquidity in the midst of a crisis. This crisis is attributed to accounting gaps in its derivatives books. To alleviate this issue, IndusInd Bank has allegedly struck multiple deals with private banks to transfer highly rated...
DBS Bank India gains talent boost as Kotak Mahindra Bank’s Ambuj Chandna makes the switch – Moneycontrol
Ambuj Chandna, a senior executive at Kotak Mahindra Bank, has decided to join DBS Bank India as a managing director and head of the bank's wholesale banking operations. Chandna, who has over 25 years of experience in the banking industry, will report to DBS Bank India's managing director, Surojit Shome. Chandna was previously the executive...
Can ICICI’s sleek Emerald Private Metal card dethrone HDFC Infinia’s dominance in the credit card market?
ICICI Bank has introduced a new rewards platform called iShop, which offers accelerated rewards on multiple categories, including flights, hotels, and vouchers. The platform offers 6x rewards on flights, 12x on hotels, and 6x on vouchers, making it more competitive in the premium segment. The bank's super-premium Emerald Private Metal credit card...
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National Company Law Appellate Tribunal (NCLAT) directs Punjab National Bank (PNB) to return Rs 4.5 crore to the liquidator of Vegan Colloids
The National Company Law Appellate Tribunal (NCLAT) has overturned a decision by the National Company Law Tribunal (NCLT) in a recent judgment, stating that Punjab National Bank (PNB) must refund ₹4.50 crore to the liquidation estate of Vegan Colloids Ltd. This decision reinforces the importance of the Insolvency and Bankruptcy Code (IBC) in...
A boost to the masses, four major government-backed banks slash interest rates, bringing welcome respite to the common folk.
The Reserve Bank of India (RBI) has cut interest rates for the second consecutive time, and as a result, four government banks have reduced their interest rates. The affected banks include Punjab National Bank, Bank of India, Indian Bank, and UCO Bank. This decision will benefit both existing and new borrowers, providing relief to the common man....
Bank of Baroda, Indian Bank, and PNB Cut Loan Interest Rates in Response to RBI’s Repo Rate Reduction
The Reserve Bank of India (RBI) recently cut the repo rate, leading to expectations of cheaper loans for account holders. Now, three major government banks - Bank of Baroda, Indian Bank, and Punjab National Bank - have announced a reduction in interest rates on their loans. These measures aim to provide relief to common customers by making loans...
Bank of Baroda responds to RBI rate cut by slashing lending rates for retail borrowers, a boon for individuals seeking loans
The Bank of Baroda (BoB) has announced that it will pass on the benefits of the recent RBI rate cut to its customers immediately. Following the RBI's decision to reduce the repo rate by 25 basis points, several public sector banks, including Punjab National Bank, Bank of India, Indian Bank, and UCO Bank, have already cut their lending rates by up...
Four PSU banks slash loans rates in tandem with RBI’s rate decision, with others expected to follow suit.
In response to the Reserve Bank of India's (RBI) decision to reduce its short-term lending rate (repo rate) on Wednesday, four public sector banks have announced a reduction in their lending rates. Punjab National Bank (PNB), Bank of India, Indian Bank, and UCO Bank have all reduced their repo-linked benchmark lending rates (RBLR) by up to 35...
India’s central bank is expected to slash the repo rate on April 9, potentially driving home loan rates down to record lows of under 8%.
The Reserve Bank of India (RBI) is set to announce its first monetary policy for the financial year 2025-26 on April 9, with markets and economists expecting a repo rate reduction of at least 25 basis points. This could lead to a decrease in home loan interest rates, making it an opportune time for those considering a new loan or refinance....
Axis Bank’s strategic investment in its people powerfully drives business growth, while significantly reducing employee turnover
Axis Bank has been recognized as the fifth best workplace in Fortune India's Future-ready Workplaces Study, driven by its focus on people and fostering a culture that transforms the workplace into a talent hub. The bank has demonstrated its ability to adapt to technological disruptions and increased regulatory scrutiny by shifting its focus to...
SBI, Axis Bank, and IDFC Bank unveil revised benefits for their most popular credit cards, effective from April 1, 2025, as part of new sector-wide regulations
As of April 1, 2025, new credit card rules will come into effect in India, affecting account holders at major banks such as State Bank of India (SBI), Axis Bank, and IDFC First Bank. These changes will impact credit card benefits, reward systems, and policies, and it is essential for cardholders to be aware of these changes to maximize their...
Important update for account holders of SBI, IDFC, and Axis Bank: a significant change is coming into effect on April 1, 2023.
Starting in April 2025, several major banks in India may undergo changes to their credit card reward points, affecting cardholders. Reports suggest that SBI Bank, IDFC First Bank, and Axis Bank are likely to make changes, although these have not been officially confirmed. Specifically, SBI Bank's reward points system may be revised, with...
According to sources, AU Small Finance Bank is planning to issue Tier II bonds, market insiders claim — TradingView News
India's AU Small Finance Bank (AUBANK) plans to issue 8 billion rupees ($93.34 million) in bonds, with an option to raise an additional 4 billion rupees, through the sale of 10-year Tier II bonds. The bonds will have a coupon rate of 9.20% per annum and a call option at the end of 5 years. The bank is inviting commitment bids from bankers and...
As of April, SBI, IDFC, and Axis Bank will be scaling back certain credit card benefits, a move that may impact cardholders’ rewards and privileges.
IDFC First Bank has made an announcement that is likely to affect its Credit Card holders. The bank will discontinue the milestone benefits associated with its Club Vistara Credit Card on March 31, 2025. This means that cardholders will no longer be able to earn certain rewards and benefits from that date onwards. Although customers will still be...
Axis Securities PMS’ Neeraj Gaurh predicts FY26 recovery will be driven by lower taxes and reduced government spending, advocating for a focus on pharma and consumer segments over IT.
Axis Securities PMS Fund Manager Neeraj Gaur is optimistic about the Indian economy and markets in FY26, citing factors such as a stable currency, improved FPI flows, higher government capex, and the lower income tax benefit from April. He expects a turnaround in the economy, driven by high-frequency economic indicators improving from May/June...
Fitch confirms Canara Bank’s ‘BBB-‘ rating, with a stable outlook for future performance.
Fitch Ratings has reaffirmed Canara Bank's Long-Term Issuer Default Rating (IDR) at 'BBB-' with a Stable Outlook, along with its Viability Rating (VR) at 'bb-' and Government Support Rating (GSR) at 'bbb-'. The ratings are based on the high probability of state support, given the government's 63% stake in the bank and its systemic importance. The...
Karnataka High Court intervenes, halts bank from deducting full pension payments as loan EMI dues
The Karnataka High Court has intervened to protect the rights of a retired bank employee, Murugan O K, who was facing difficulties in settling his loan dues. The court has directed Canara Bank to refrain from debiting more than 50% of Murugan's pension to settle his Equated Monthly Installments (EMIs). The court's decision is based on the...
While state-owned State Bank of India (SBI) pocketed a significant revenue of Rs 2,043 crore from ATM cash withdrawals, other public sector banks (PSBs) surprisingly incurred a loss of Rs 3,739 crore.
The State Bank of India (SBI) has generated substantial revenue from ATM cash withdrawals, whereas other public sector banks (PSBs) have faced financial challenges in this area. According to a response in the Lok Sabha, SBI made a profit of Rs 2,043 crore from ATM cash withdrawals over the last five years, while nine PSBs collectively incurred a...
Canara Bank generously donates cricket equipment to a local medical college, promoting grassroots sports and supporting the next generation of healthcare professionals.
Canara Bank, as part of its Corporate Social Responsibility (CSR) initiative, has donated cricket kits to Nizamabad Government Medical College. The event, which took place in Nizamabad, was attended by several prominent officials from Canara Bank, including Hyderabad Circle head B Chandrasekhar, Nizamabad region head AGM B Srinivas, and...
Canara Bank achieves victory in the 2025 All India Public Sector Hockey Tournament
The 2025 All India Public Sector Hockey Tournament was held at the SAI hockey ground in Kolkata, and Canara Bank from Bengaluru emerged as the champions. They defeated Union Bank of India from Mumbai 4-2 in a penalty shootout after the match ended 3-3 in regular time. The winning score was 7-5 in favor of Canara Bank. The championship was...
Senior Citizens’ FD Offer: Take advantage of 9.10% interest rates on Fixed Deposits from these top banks, find out more details here!
Fixed Deposits (FDs) have been a popular investment option in India for many years, particularly among senior citizens. This is because FDs are considered to be a safe and secure way to invest, with a high return on investment. Senior citizens can earn higher interest rates than normal citizens, typically around 0.5% more, making it an attractive...