India PSBs record profit for the fourth consecutive year as Public Sector Banks achieve ₹1.98 lakh crore profit with lowest NPA levels, banking reforms, RBI policies, and economic growth insights for UPSC, SSC, Banking, Railway, and PSC exams. India’s Public Sector Banks Achieve Record Profit for Fourth Consecutive Year Strong Financial Performance of PSBs India’s…
RBI cancels NBFC registration of 35 companies due to regulatory non-compliance under Section 45-IA of the RBI Act, ensuring financial sector stability in India. RBI Cancels Certificates of Registration of 35 NBFCs for Regulatory Non-Compliance In a significant regulatory action aimed at strengthening India’s financial sector, the Reserve Bank of India (RBI) has cancelled the…
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…
Punjab National Bank Joins PCAF to Strengthen Climate Action Commitments Introduction to PNB’s New InitiativePunjab National Bank (PNB), one of India’s leading public sector banks, has announced its membership in the Partnership for Carbon Accounting Financials (PCAF). This global initiative is aimed at improving the financial sector’s ability to measure and disclose greenhouse gas (GHG)…
Manoj Mittal Takes Charge as SIDBI’s CMD After Appointment by Centre Introduction In a significant development, Manoj Mittal has been appointed as the Chairman and Managing Director (CMD) of the Small Industries Development Bank of India (SIDBI) by the Centre. This move is seen as a strategic effort to strengthen the leadership of SIDBI, which…
State Bank of India Market Cap Crosses ₹8 Lakh Crore Milestone State Bank of India (SBI), the largest public sector bank in India, achieved a significant milestone as its market capitalization crossed the ₹8 lakh crore mark. This achievement highlights the robust performance and confidence of investors in the bank’s growth prospects. Market Cap Milestone…
RBI Launches PRAVAAH, Retail Direct Mobile App, and Fintech Repository Introduction to RBI’s Latest Initiatives The Reserve Bank of India (RBI) has recently launched three significant initiatives: PRAVAAH (Platform for Regulatory Application, Validation And Authorisation), the Retail Direct Mobile App, and a Fintech Repository. These initiatives aim to streamline regulatory processes, enhance accessibility for retail…
Government Receives Rs 3,662 Crore Dividend from LIC The Government of India has recently received a substantial dividend of Rs 3,662 crore from the Life Insurance Corporation (LIC) of India. This significant financial influx is part of the annual profit distribution to its stakeholders, marking a notable event in the financial sector of the country….
RBI Imposes Rs. 3.1 Lakh Penalty on Hero FinCorp for Fair Practices Code Violation Overview of the Incident The Reserve Bank of India (RBI) has imposed a monetary penalty of Rs. 3.1 lakh on Hero FinCorp Limited. The fine was levied due to the company’s failure to adhere to the Fair Practices Code (FPC) guidelines…
IRDAI Approves Appointment of Keki Mistry as Chairman of HDFC Life The Insurance Regulatory and Development Authority of India (IRDAI) has given its nod to the appointment of Keki Mistry as the Chairman of HDFC Life. The decision comes as a significant development in the insurance sector, as Mistry brings a wealth of experience and…
