The decision assumes significance in the wake of a scam in the PMC Bank affecting lakhs of customers who are facing difficulties in withdrawing their money due to restrictions imposed by the Reserve Bank of India.
Bank deposits grew 17 per cent year-on-year as on December 13 due to higher mobilisation.
The Reserve Bank of India (RBI), in its Financial Stability Report (FSR), cautioned that stress tests indicate two scheduled commercial banks (SCBs) may have to dip into their capital conservation buffers (CCBs), unless stakeholders infuse capital, under a scenario involving a gradual slowdown in domestic GDP growth and a moderate rise in inflation, with limited policy easing space available to the central bank.
A man in Uttar Pradesh's Chandauli district has been arrested for allegedly killing his younger brother due to a property dispute and ongoing financial tensions. The accused confessed to the crime, citing humiliation and a desire to control his brother's assets as motives.
With deposit growth remaining sluggish and the credit - deposit ratio of commercial banks crossing 80 per cent, banks have ramped up their borrowing in the certificate of deposit (CD) market. In the fortnight ended November 14, CD issuances climbed to nearly Rs 55,000 crore - double the borrowings of the preceding two fortnights and the highest since the September 19 fortnight.
The Motor Accident Claims Tribunal (MACT) in Thane has awarded 47.28 lakh in compensation to a man who sustained severe injuries and physical disability after being struck by a speeding motorcycle in 2017.
With Income Tax Act 2025 in force, your tax choice can quietly cost you big money if you're not paying attention. Ramalingam Kalirajan explains how
Delhi Police has initiated legal action against social media accounts spreading rumours and misleading content related to the Uttam Nagar murder case, including a viral video seeking financial donations. Authorities have frozen a suspect bank account containing nearly Rs 37 lakh and are working with social media platforms to remove inflammatory content.
The Union Cabinet on Wednesday approved amendment to the DICGC Act to provide account holders access to up to Rs 5 lakh funds within 90 days of a bank coming under moratorium to ensure timely support to depositors. Last year, the government raised insurance cover on deposit five-folds to Rs 5 lakh to provide support to depositors of ailing lenders like Punjab and Maharashtra Co-operative (PMC) Bank. Following the collapse of PMC Bank, Yes Bank and Lakshmi Vilas Bank too came under stress, leading to restructuring by the regulator and the government.
India's household debt climbed to 41.3 per cent of gross domestic product (GDP) at the end of March 2025, marking a sustained rise from its five-year average of 38.3 per cent, with consumption-related loans accounting for bulk of the borrowings, the Reserve Bank of India (RBI) said in its Financial Stability Report.
Only bona fide victims would be compensated by banks within five days of receiving the complaint.
Mumbai police have arrested a man from Gujarat for his alleged involvement in a cyber fraud case where a senior citizen was duped of Rs 2.25 crore after being threatened with arrest in a fake terrorism-related probe.
Delhi Police have arrested three men and bound down a woman in connection with a cyber fraud operation that allegedly cheated a grocery shop owner of Rs 17 lakh through fake stock market investments.
Reserve Bank of India (RBI) Governor Sanjay Malhotra, and Deputy Governors Poonam Gupta, T Rabi Sankar, Swaminathan J, and S C Murmu on Friday addressed issues during the post-policy media interaction.
Beginning November 1, 2025, bank customers can name up to four nominees for their accounts and lockers.
Given that a sizeable part of this money is part of the coveted current accounts and savings accounts, it is surprising that banks are not in a hurry to revive these accounts, notes Tamal Bandyopdhyay.
The CBI has conducted searches across multiple states in connection with a large-scale online financial fraud involving the overseas fintech platform 'Pyypl'.
Fino Payments Bank (Fino) has become the first such entity to get an in-principle approval from the Reserve Bank of India (RBI) to transition into a small finance bank (SFB).
ICICI Bank has cut its savings account deposit interest rate by 0.25 per cent, according to the lender's website. The second largest private sector bank's move comes days after larger rival HDFC Bank announced similar move amid a spate of cuts in deposit offerings following RBI's two back-to-back rate decreases.
Tamil Nadu Chief Minister M K Stalin pledges to double the monthly grant if his DMK party secures victory in the upcoming assembly election, aiming to empower women and secure their support.
Discovering the stunning land of breathtaking temples.
The Delhi High Court has suspended actor Rajpal Yadav's sentence in a cheque bounce case until March 18, allowing his release from jail after he deposited Rs 1.5 crore.
Reserve Bank Governor Sanjay Malhotra on Friday said the key policy rates will remain at low levels for a long period and may go down even further.
'There is no shortage of fuel whatsoever.' 'India is stock surplus as far as petrol and diesel are concerned.'
The Enforcement Directorate (ED) has filed a chargesheet in connection with alleged financial irregularities at the R G Kar Medical College and Hospital, naming former principal Sandip Ghosh and others as accused.
'We are profoundly energy-dependent on the Gulf. That dependency must now be redirected towards the United States, because we require American permission to procure oil.' 'We additionally require Iranian permission to acquire oil from that source. So India now has to seek two separate permissions merely to secure its energy supply.' 'Should we be compelled to source from America, or from Venezuela -- which is, in effect, American-controlled supply -- that will inevitably carry a price premium, an elevated shipping cost, and a considerably extended delivery timeline, given the distances involved.'
The Central Bureau of Investigation (CBI) has arrested Ayush Varshney, co-founder of Darwin Labs, in connection with the 200 million Gain Bitcoin cryptocurrency scam. Varshney was apprehended while attempting to flee the country.
The Indian banking sector could be due for a rise in profitability after several quarters of net interest margin (NIM) compression. The Q2FY26 results suggest NIMs have bottomed out.
The pace of growth in bank deposits and credit showed a substantial decline in the last quarter of 2009-10, as compared to the same quarter of the previous year.
State Bank of India on Saturday reported an all-time high profit of Rs 21,028 crore in December quarter FY26 on a standalone basis.
Ask rediffGURU Reetika Sharma your insurance, mutual fund and personal finance-related questions.
Sectoral funds, focused exclusively on public sector banks (PSBs), have delivered the strongest returns among domestic mutual fund (MF) categories over the past six months. However, active banking funds have significantly lagged because of their heavy tilt towards private lenders.
The Enforcement Directorate has issued fresh summons to Reliance Group chairman Anil Ambani to appear for questioning on February 26 after he skipped deposition this week, official sources said on Thursday.
Axis Bank reported a sharp drop in net profit in the second quarter of financial year 2026 (Q2FY26) on higher provisions and weak operating profit growth while revenue growth was moderate. But loan growth and deposit growth improved to double-digits year-on-year (Y-o-Y) and asset quality also improved with the gross non-performing loan or NPL ratio moving down.
Banks have been borrowing heavily from the Tri-Party Repo (TREPS) market and deploying those funds into the Standing Deposit Facility (SDF) of the Reserve Bank of India (RBI), which is offering higher interest rate than the former, leading to increased volumes in the SDF window. The weighted average TREPS rate was trading at 5.66 per cent on Monday, 9 basis points lower than the SDF rate which currently stands at 5.75 per cent.
The government has decided to discontinue the Gold Monetisation Scheme (GMS) starting from Wednesday in view of the evolving market conditions, the finance ministry said. However, the banks may continue their short term gold deposit schemes (1-3 years), the ministry said in the statement on Tuesday. Till November 2024, approximately 31,164 kilograms of gold have been mobilised under GMS.
The Enforcement Directorate has attached assets worth over 441 crore in connection with the Andhra Pradesh liquor scam, which allegedly occurred during the previous YSRCP government's tenure.
Noting that recent uncertainties created by global tariffs have not impacted the Indian economy severely, Anuradha Thakur, secretary, Department of Economic Affairs, said the central government is hopeful that the recent goods and services tax (GST) rationalisation will ignite the much needed animal spirits in the financial sector.
The Delhi High Court has granted Rajpal Yadav granted an interim suspension of his sentence until March 18.
© 2026 Rediff.com - Advertise with us - Disclaimer - Privacy Policy - Sitemap - Feedback - About us - Terms of use - Grievances