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RBI Approves Merger of National and Cosmos Co-operative Banks Introduction: RBI’s Approval for Bank MergerThe Reserve Bank of India (RBI) has granted approval for the merger of the National Co-operative Bank and Cosmos Co-operative Bank. This approval marks a significant step in India’s banking sector, as it aims to create a stronger and more resilient…
RBI’s Guidelines on Government Debt Relief Scheme Introduction to RBI’s Guidelines on Government Debt Relief Scheme The Reserve Bank of India (RBI) has recently issued guidelines for the implementation of the Government Debt Relief Scheme (GDRS). The scheme is designed to alleviate the burden of debt on individuals, businesses, and various sectors affected by the…
RBI Reports 98.12% of ₹2000 Notes Returned: Key Implications for the Indian Economy The Reserve Bank of India (RBI) has officially reported that 98.12% of the ₹2000 notes, which were withdrawn from circulation in May 2023, have been returned to the banking system. This decision by the RBI was part of a broader strategy to…
Trend and Progress of Banking in India 2023-24: An Overview The Reserve Bank of India (RBI) recently released its annual report on the Trend and Progress of Banking in India 2023-24, shedding light on various aspects of the country’s banking system and its performance in the fiscal year. The report evaluates the growth and development…
RBI Introduces Name Lookup for NEFT and RTGS: A New Milestone in Payment Systems The Reserve Bank of India (RBI) has introduced a significant feature in the National Electronic Funds Transfer (NEFT) and Real-Time Gross Settlement (RTGS) systems: the name lookup feature. This addition aims to streamline and enhance the security of digital transactions in…
Rajat Verma Appointed CEO of DBS Bank India Introduction to the Appointment of Rajat Verma Rajat Verma has been appointed as the new Chief Executive Officer (CEO) of DBS Bank India, a prominent player in the Indian banking sector. This strategic move by the bank is expected to strengthen its position in India’s rapidly growing…
RBI Allows UPI Payments via Third-Party Apps for PPI Holders The Reserve Bank of India (RBI) has made a significant move by permitting Unified Payments Interface (UPI) payments via third-party applications for Prepaid Payment Instrument (PPI) holders. This initiative aims to enhance the ease of digital transactions and promote financial inclusion by expanding the scope…
Indian Banks’ Profitability Soars with Low NPAs and Strong Credit Growth Introduction to Indian Banks’ Financial Growth The Indian banking sector has witnessed an unprecedented surge in profitability, marked by a decline in Non-Performing Assets (NPAs) and robust credit growth. This positive trend underscores the resilience and improved health of the financial institutions in the…
RBI Fines Manappuram Finance and IndusInd Bank for Non-Compliance: A Detailed Overview The Reserve Bank of India (RBI) has recently imposed fines on two prominent financial institutions, Manappuram Finance and IndusInd Bank, for non-compliance with various regulatory requirements. This development is significant as it reflects the RBI’s continued efforts to ensure adherence to banking and…
ICICI Bank & Times Internet Launch Premium Metal Credit Card ICICI Bank, in collaboration with Times Internet, has recently launched a premium metal credit card aimed at offering a luxurious experience to high-end consumers. This new card is designed to provide a range of exclusive benefits and rewards, catering to affluent customers who seek premium…
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