Other Payment Apps Looking to Replace Paytm After RBI Bans Paytm Payments Bank Operations

Paytm News: The RBI recently banned any kind of credit transaction on Paytm Payments Bank after 29th January, which further got extended to 15th March. After this decision, many payment apps have come into action to replace the leading fintech company amidst the ongoing crisis. Paytm has a large share in the QR, Soundbox, and … Continue reading “Other Payment Apps Looking to Replace Paytm After RBI Bans Paytm Payments Bank Operations”

SBI MF Gets RBI Nod to Buy 9.99% Stake in Karur Vysya Bank

The Reserve Bank of India (RBI) has granted approval to SBI Mutual Fund (SBI MF) for acquiring up to 9.99% of the paid-up share capital or voting rights of Karur Vysya Bank Ltd (KVB). This move signals a potential strategic a potential strategic investment by SBI MF in the private sector leader. However, there are … Continue reading “SBI MF Gets RBI Nod to Buy 9.99% Stake in Karur Vysya Bank”

RBI allows Indian bank branches in GIFT-IFSC to trade on international bullion exchange

Mumbai, New Delhi (IANS) The Reserve Bank of India (RBI) on Friday issued a circular allowing the branches of Indian banks in GIFT-IFSC to act as a Trading Member or Trading and Clearing Member of International Bullion Exchange IFSC Ltd (IIBX).Advertising AdvertisingThe RBI said Indian banks authorised to import gold or silver will act as … Continue reading “RBI allows Indian bank branches in GIFT-IFSC to trade on international bullion exchange”

RBI raises wage ceiling for Non Executive Directors of banks to ₹30 lakh

The Reserve Bank of India (RBI) following a review has increases the remuneration ceiling of Non Executive Directors (NEDs) of banks from ₹20 lakh per annum to ₹30 lakh to attract better talent and ensure corporate governance. “Considering the crucial role of NEDs in efficient functioning of bank Boards and its various Committees and to further … Continue reading “RBI raises wage ceiling for Non Executive Directors of banks to ₹30 lakh”

RBI clears appointment of whole-time director for 3 years by Bandhan Bank

Private-sector lender Bandhan Bank on Thursday informed exchanges that the Reserve Bank of India (RBI) has granted approval for the appointment of Rajinder Kumar Babbar as Whole-Time Director (designated as Executive Director) of the bank for a period of three years. The lender added that Babbar’s three-year tenure will begin from the date of taking … Continue reading “RBI clears appointment of whole-time director for 3 years by Bandhan Bank”

LIC gets RBI approval to acquire 9.99% stake in HDFC Bank

New Delhi, Jan 25 (IANS): The Reserve Bank of India (RBI) has accorded its approval to LIC for acquiring aggregate holding up to 9.99 per cent of the paid-up share capital or voting rights of HDFC Bank Limited. The approval has been granted with reference to the application submitted by LIC to RBI. The aforesaid … Continue reading “LIC gets RBI approval to acquire 9.99% stake in HDFC Bank”

LIC gets RBI approval to acquire 9.99% stake in HDFC Bank

New Delhi, Jan 25 (IANS) The Reserve Bank of India (RBI) has accorded its approval to LIC for acquiring aggregate holding up to 9.99 per cent of the paid-up share capital or voting rights of HDFC Bank Limited. Advertising AdvertisingThe approval has been granted with reference to the application submitted by LIC to RBI. The … Continue reading “LIC gets RBI approval to acquire 9.99% stake in HDFC Bank”

RBI Approves Praveen Achuthan Kutty as DCB Bank MD & CEO

The Reserve Bank of India (RBI) has granted approval for the appointment of Praveen Achuthan Kutty as the Managing Director and Chief Executive Officer (CEO) of DCB Bank. The official confirmation came on January 16, signaling a tenure of three years starting from April 29, 2024, as outlined in the regulatory filing. Extensive Banking Experience … Continue reading “RBI Approves Praveen Achuthan Kutty as DCB Bank MD & CEO”

ISB s DLabs RBI Innovation Hub Union Bank Launch Build for Billions Programme – BW Businessworld

DLabs at the Indian School of Business (ISB) has introduced ‘Build for Billions,’ a startup accelerator programme centered around financial inclusion for the informal economy, in collaboration with Reserve Bank Innovation Hub (RBIH) and Union Bank of India. The program is designed to support visionary fintech startups addressing the challenges faced by gig workers, migrant … Continue reading “ISB s DLabs RBI Innovation Hub Union Bank Launch Build for Billions Programme – BW Businessworld”

RBI Revokes Banking License of Mahalaxmi Cooperative Bank in Dharwad – Punekar News

Dharwad, 28th June 2023: In a significant development, the Reserve Bank of India (RBI) has announced the cancellation of the banking license granted to Mahalaxmi Cooperative Bank Ltd. in Dharwad, Karnataka. The decision comes under Section 36A(2) in conjunction with Section 56 of the Banking Regulation Act, 1949. The license, originally issued on March 23, … Continue reading “RBI Revokes Banking License of Mahalaxmi Cooperative Bank in Dharwad – Punekar News”