ATM Operators Push for Rs 2 Interchange Fee Hike Amid Viability Concerns In recent developments within the banking sector, ATM operators have been advocating for an increase in the interchange fee to Rs 2 per transaction. This move comes amidst growing concerns over the viability of operating ATMs, which have faced significant financial challenges in…
Bombay High Court Rules Against PSU Banks’ Power to Issue Look Out Circulars In a significant ruling, the Bombay High Court has recently decreed against the authority of Public Sector Undertaking (PSU) banks to issue Look Out Circulars (LOCs). The decision marks a pivotal moment in the realm of banking regulations, potentially reshaping the dynamics…
P Santhosh Takes the Helm as MD & CEO of NARCL Leadership Change at NARCL P Santhosh has been appointed as the new Managing Director and Chief Executive Officer (MD & CEO) of the National Asset Reconstruction Company Limited (NARCL). This significant appointment marks a new phase for NARCL, a key institution in the Indian…
RBI Conducts Massive Liquidity Infusion Through Variable Rate Repo Auctions The Reserve Bank of India (RBI) has undertaken significant measures to tackle the prevailing liquidity deficit in the banking sector by conducting a series of Variable Rate Repo (VRR) auctions. In May 2024, the RBI infused Rs 7.75 trillion through nine VRR auctions, with the…
SBI Raises Short-term Retail Fixed Deposit Rates Amidst Economic Shifts In a recent move amidst economic shifts, the State Bank of India (SBI) has decided to raise the interest rates on short-term retail fixed deposits. This decision comes in response to various economic factors influencing the banking sector. The new rates are expected to affect…
RBI Appoints R. Lakshmi Kanth Rao as Executive Director The Reserve Bank of India (RBI) has recently announced the appointment of R. Lakshmi Kanth Rao as its new Executive Director. This move comes amidst a crucial phase for the central bank, as it navigates through various economic challenges and policy decisions. R. Lakshmi Kanth Rao…
SBI’s Q4 Report Highlights Strong Performance and Improved Asset Quality In a significant revelation, the State Bank of India (SBI) recently released its Q4 report, showcasing robust performance and notable improvements in asset quality. The report underscores SBI’s resilience amidst challenging economic conditions, affirming its position as a key player in the financial sector. Let’s…
Ujjivan Small Finance Bank Appoints Sanjeev Nautiyal as MD & CEO Ujjivan Small Finance Bank has recently announced the appointment of Sanjeev Nautiyal as its Managing Director and Chief Executive Officer. The decision comes as part of the bank’s strategic move to reinforce its leadership team and further accelerate its growth trajectory in the competitive…
RBI Approves Re-appointment of Atanu Chakraborty as HDFC Bank Part-time Chairman The Reserve Bank of India (RBI) has recently given its nod for the re-appointment of Atanu Chakraborty as the part-time chairman of HDFC Bank. This decision comes amidst a pivotal time in the banking sector, where stability and strategic leadership are paramount. Chakraborty, a…
RBI’s Guidelines for Voluntary Transition of Small Finance Banks to Universal Banks The Reserve Bank of India (RBI) recently released guidelines regarding the voluntary transition of small finance banks to universal banks. These guidelines come as a significant development in the banking sector and have implications for various stakeholders. Introduction to the Guidelines The RBI’s…
