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Karnataka Bank Marks 100 Years with New Product Launches Karnataka Bank Celebrates a Century of Excellence Karnataka Bank, one of India’s leading private sector banks, has marked its 100th anniversary with a grand celebration and the launch of new banking products. The centenary event was held in Mangaluru, where the bank’s officials, stakeholders, and customers…
The RBI Ombudsman and Its Role in Customer Grievances Introduction to the RBI Ombudsman System The Reserve Bank of India (RBI) Ombudsman is a key component of the financial system designed to resolve customer grievances related to banking services. Established as part of the broader consumer protection initiative, the Ombudsman acts as an intermediary to…
RBI Approves Temasek Unit’s Stake Hike in AU Small Finance Bank Introduction to the News The Reserve Bank of India (RBI) has approved the proposal for Temasek Holdings, a Singapore-based investment firm, to increase its stake in AU Small Finance Bank. Temasek, through its subsidiary, has sought to raise its stake from the existing 15%…
RBI Allows Small Finance Banks to Offer Credit via UPI Introduction: In a groundbreaking move, the Reserve Bank of India (RBI) has allowed Small Finance Banks (SFBs) to offer credit via the Unified Payments Interface (UPI). This decision aims to bolster financial inclusion and promote seamless credit access across the country. Small Finance Banks, traditionally…
RBI Clears Kotak Mahindra Bank’s Digital Onboarding Ban – A Game-Changer for Banking Sector Introduction to the News The Reserve Bank of India (RBI) has officially lifted the ban on Kotak Mahindra Bank’s digital onboarding process. The ban was imposed in 2022 due to concerns over certain regulatory issues with the bank’s procedures for onboarding…
RBI Fines Federal Bank and Karur Vysya Bank for Rule Violations: A Comprehensive Overview The Reserve Bank of India (RBI) has imposed significant penalties on two prominent banks, Federal Bank and Karur Vysya Bank, for violations of regulatory norms. This move reflects RBI’s continued efforts to ensure that financial institutions operate with transparency and adhere…
Over 54.5 Crore Jan Dhan Accounts Opened till January 15, 2025 The Pradhan Mantri Jan Dhan Yojana (PMJDY), launched by the Government of India, has achieved a remarkable milestone, with over 54.5 crore accounts opened under the scheme by January 15, 2025. This achievement highlights the government’s commitment to financial inclusion, empowering millions of citizens…
RBI Clears Tata Communications’ Payment Arm Sale to Findi The Reserve Bank of India (RBI) has given its approval for Tata Communications to sell its payment arm to Findi, a fintech company. This significant move is poised to reshape the landscape of digital payments in India and contribute to the growth of the country’s fintech…
Indian Overseas Bank Joins Global Partnership for Carbon Accounting Introduction to the News Indian Overseas Bank (IOB), one of India’s leading public sector banks, has recently joined the Global Partnership for Carbon Accounting (GPCA). This move aligns with global efforts to combat climate change and promote sustainable banking practices. By becoming a part of GPCA,…
South Indian Bank Unveils Startup Current Accounts for Entrepreneurs Introduction to the Initiative South Indian Bank (SIB), one of India’s leading private sector banks, has recently launched a specialized banking product called Startup Current Accounts. This initiative is aimed at supporting entrepreneurs and startups by providing them with tailored financial solutions. The move is part of…
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