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Indian Overseas Bank slashes its one-year lending rate by 5 bps

Following the Reserve Bank of India’s decision to reduce the repo rate by 25 bps to 6% in order to boost the growth of...

ICICI Bank reduces its lending rates across different loan tenures

With the Reserve Bank of India reducing the repo rate to 6.25% in February 2019, ICICI Bank has now reduced the MCLR (marginal cost...

In a first, RBI to conduct US dollar swap auction to...

On Wednesday, the Reserve Bank of India (RBI) announced that it will conduct a US dollar swap auction on March 26 where banks will...

Now, pay bills and deposit cash at white label ATMs

For those who do not know, in 2015, the Reserve Bank of India launched what is known as white label ATMs (WLAs). White label...

SBI to provide doorstep banking for senior citizens and differently-abled customers

India’s largest lender, State Bank of India (SBI), has launched a new service that offers doorstep banking to senior citizens and differently-abled customers. As of now,...

Reserve Bank of India penalises IDBI Bank, Union Bank, Dena Bank,...

Following the loan fraud involving Punjab National Bank and several other banks on varying degrees, that has resulted in severe net losses and the...

RBI proposes new variable pay rules for top executives of private...

The Reserve Bank of India (RBI) has come up with a proposal that at least 50% of the compensation for top officials of private...

3 more public sector banks come out of Prompt Corrective Action...

In what is good news for public sector banks across the country, the Reserve Bank of India has taken out 3 more public sector...

Fin. Ministry: 3 to 4 PSBs expected to come out of...

The Finance Ministry of India expects three or four public sector banks (PSBs) to be removed from the Prompt Corrective Action (PCA) within this year. This action by...

Govt. announces Rs.48,239 crore bank recapitalisation plan to help PSBs

The government has announced a new bank recapitalisation plan on Wednesday to help struggling public sector banks boost their growth. Under this plan, 12 public sector...