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HDFC Bank Appoints Former NABARD Chairman Harsh Kumar Bhanwala as Director In a significant move, HDFC Bank, one of India’s leading private sector banks, has appointed Harsh Kumar Bhanwala, the former Chairman of NABARD (National Bank for Agriculture and Rural Development), as its Director. This strategic decision by HDFC Bank’s board of directors marks a…
RBI Extends Payments Infrastructure Scheme by 2 Years till Dec 2025; Expands Scope The Reserve Bank of India (RBI) has recently announced a significant extension and broadening of the Payments Infrastructure Development Fund (PIDF) scheme until December 2025. The PIDF, initially introduced in January 2019, aimed to encourage deployment of payment infrastructure in underserved areas….
Bandhan Bank Board Approves Reappointment of Chandra Shekhar Ghosh as MD & CEO The Board of Directors at Bandhan Bank recently sanctioned the reappointment of Chandra Shekhar Ghosh as the Managing Director (MD) and Chief Executive Officer (CEO). This pivotal decision comes amid the bank’s strategic initiatives and Ghosh’s instrumental leadership since the bank’s inception…
RBI Takes Action Against Abhyudaya Cooperative Bank’s Governance Issues The Reserve Bank of India (RBI) has recently taken stringent actions against the Abhyudaya Cooperative Bank due to governance issues that have raised concerns among stakeholders. This move by the RBI comes as a response to lapses in the bank’s governance and management, which have prompted…
Anticipated Deceleration in Growth for Unsecured Retail Loans in FY24 The fiscal year 2024 is projected to witness a noticeable deceleration in the growth of unsecured retail loans. This forecasted decline comes as a significant concern within the financial sector, primarily due to various economic factors influencing consumer behavior and lending practices. Experts in the…
“Private Banks Make Largest Single-Day Govt Bond Purchase in 7 Years” Private banks recently made a significant move in the financial market by executing the largest single-day government bond purchase seen in the past seven years. This move, highly noteworthy in the financial sector, showcases a pivotal shift in investment strategies among private banking institutions….
Govt Cancels IDBI Bank Asset Valuer Appointment; Bidding Fresh RFP to Be Issued The Government has recently taken a pivotal decision regarding the appointment of an asset valuer for IDBI Bank, canceling the existing appointment and announcing plans to issue a fresh Request for Proposal (RFP). This significant move has stirred discussions within the financial…
RBI to Implement a New Penalty Framework for Banks The Reserve Bank of India (RBI) has recently announced its plans to introduce a revamped penalty framework for banks, aiming to strengthen the regulatory mechanism governing the banking sector. This strategic move comes as part of the RBI’s continuous efforts to fortify the banking system, ensuring…
Former RBI Governor S. Venkitaramanan Passes Away at 92 S. Venkitaramanan, the 19th Governor of the Reserve Bank of India (RBI), breathed his last at the age of 92. His demise marks the end of an era in the banking sector, leaving a profound impact on India’s monetary policies and economic landscape. Born in 1929,…
IndusInd Bank Launches IndusInd Bank Platinum RuPay Credit Card on UPI IndusInd Bank recently introduced its latest offering, the IndusInd Bank Platinum RuPay Credit Card on the Unified Payments Interface (UPI) platform. This initiative aims to revolutionize digital payments by leveraging the convenience of UPI along with the benefits of a credit card. This innovative…
