A special CBI court in Mumbai has convicted a retired bank manager and nine others in connection with a 2004 loan fraud case, sentencing them to prison terms ranging from one to five years.
The net liquidity surplus in the banking system fell to Rs 16,875 crore on Thursday the latest data by the Reserve Bank of India (RBI) showed, lowest since 22 January.
Gold and silver prices experienced a significant drop in the national capital due to a global selloff driven by inflation concerns, central bank policies, and geopolitical tensions.
The Reserve Bank of India (RBI) is developing digital public infrastructure and payments intelligence platforms using artificial intelligence and application programming interfaces to improve customer experience and strengthen the payments ecosystem.
A consumer commission in Nagpur, Maharashtra, has penalised Axis Bank for deficiency in service, ordering a refund and compensation to a customer over a failed ATM transaction from 2018.
A property near Heathrow Airport, London, worth Rs 7.5 crore has been attached by the Enforcement Directorate (ED) in connection with a bank loan fraud case involving Neo Corp International Ltd.
DBS Bank India has launched a direct tax payment facility after authorisation from the Central Board of Direct Taxes (CBDT). Utkarsh Small Finance Bank partners with Mumbai Indians as banking partner for T20 League 2026.
ICICI Bank has received a demand notice of 768.6 crore from tax authorities for alleged short payment of GST, related to services provided to customers maintaining minimum balances.
The Reserve Bank of India on Friday proposed to allow banks to lend to Real Estate Investment Trusts (REITs) with certain prudential safeguards to deepen the financing pool for the real estate sector.
To meet liquidity pressure because of advance tax outflows this month, the Reserve Bank of India (RBI) has adopted a measured approach with its latest announcement of open-market operations (OMOs), worth Rs 1 trillion.
A special CBI court in Mumbai has sentenced four individuals to imprisonment for their involvement in a 2012 case where the Bank of India suffered a loss of over Rs 3 crore due to a forged Letter of Credit.
S&P Global Ratings has increased India's GDP growth forecast for the next fiscal year to 7.1 per cent, citing private consumption, investment, and exports as key drivers. However, the agency also cautioned that the conflict in the Middle East could strain India's fiscal position due to higher energy prices.
Gold prices experienced a significant decline in futures trading due to uncertainty surrounding geopolitical tensions in West Asia and conflicting statements regarding the conflict. Investors are also awaiting key macroeconomic data for further direction on interest rate cuts.
The Supreme Court has ordered a 'fair, dispassionate, transparent, and time-bound' investigation by the CBI and ED into the Anil Dhirubhai Ambani Group, addressing concerns over alleged large-scale banking fraud and demanding accountability.
Abusive language, threats, harassment, excessive or anonymous calls, public humiliation, and misleading representations are explicitly prohibited.
India's foreign exchange reserves decreased by USD 7.052 billion to USD 709.759 billion in the week ending March 13, according to the Reserve Bank of India (RBI). This decline follows a previous drop and comes after reserves reached an all-time high in February.
Stock markets closed higher on Friday after the Reserve Bank of India kept its benchmark interest rate unchanged as expected and proposed allowing banks to lend to Real Estate Investment Trusts (REITs) with certain prudential safeguards to deepen the financing pool for the real estate sector.
The rupee plunged to a fresh low of 93.72 against the dollar on Friday, falling 1.15 per cent in a single session - its sharpest one-day decline since February 24, 2022 - as elevated crude oil prices and strong dollar demand from oil-marketing companies and foreign portfolio investors (FPIs) weighed on the currency.
Analysts predict that the ongoing conflict in West Asia, crude oil price fluctuations, and the US Federal Reserve's interest rate decision will significantly influence the Indian equity market this week.
Only bona fide victims would be compensated by banks within five days of receiving the complaint.
The Reserve Bank of India (RBI) is exploring ways for Russian trade counterparts to use accumulated Indian rupees (INR) for imports or capital investments in India, aiming to boost INR-Rouble transactions and reduce reliance on the US dollar.
India's forex reserves dropped by $11.683 billion to $716.810 billion during the week ended March 6, the RBI said on Friday.
The Enforcement Directorate (ED) has filed a prosecution complaint against Anil Nutrients Ltd, its director, and six others in connection with a money laundering case involving an alleged fraud of Rs 47.88 crore with Bank of India.
India's foreign exchange reserves have surged to an all-time high, reaching USD 728.494 billion, according to the Reserve Bank of India. This increase is attributed to a rise in foreign currency assets and gold reserves.
Led by the country's biggest lender State Bank of India (SBI), public sector banks logged a record cumulative profit of Rs 52,603 crore in the third quarter of the current fiscal, reflecting an 18 per cent year-on-year growth.
Analysts predict a surge in gold and silver prices as investors seek safe-haven assets due to escalating tensions in the Middle East. The impact on domestic prices will depend on the conflict's duration, with geopolitical factors and macroeconomic data also playing a role.
A Delhi court has dismissed the bail plea of an alleged kingpin in an over Rs 8.94 crore bank fraud case, citing the gravity of the offence and its systematic execution through layered transactions.
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.
Banks are depending more heavily on the market for certificates of deposit (CDs), whose worth climbed to a record Rs 5.75 trillion in the fortnight to January 15, owing to deposit tightness in the system.
The Reserve Bank of India (RBI) on Friday allowed multiple entities in a bank group to undertake the same business as long as they cater to different client segments, while mandating board approval to ensure that any overlap in business has proper rationale and justification.
The Indian government has extended the Reserve Bank of India's (RBI) mandate to maintain retail inflation at 4 per cent, with a tolerance band of 2 per cent on either side, for another five years until March 2031.
Precious metal prices surged in futures trading, with silver hitting Rs 2.93 lakh per kg and gold nearing Rs 1.68 lakh per 10 grams, driven by safe-haven demand following US-Israel strikes in Iran and retaliatory attacks.
Gold prices experienced a significant drop in futures trading due to global selloff, inflation concerns, and a strong US dollar. Analysts predict a continued downward trend amid geopolitical tensions and potential rate hikes.
India's forex reserves decreased by $2.119 billion to $723.608 billion during the week ended February 20, according to the RBI.
The Reserve Bank of India (RBI) announced that it processed 99.8% of applications within the prescribed timeline under its Citizen's Charter in February, demonstrating high efficiency in its operations.
India has joined over 100 countries and global organizations in condemning Israel's "unilateral" decisions and measures aimed at expanding its "unlawful presence" in the West Bank.
The Central Board of Indirect Taxes and Customs (CBIC) has enabled UPI, debit, and credit card payments for Customs duty on the ICEGATE portal, enhancing ease of doing business for importers and exporters.
India's forex reserves jumped $8.663 billion to hit a new all-time high of $725.727 billion in the week ended February 13, the RBI said on Friday.
The country's banking system, while remaining "resilient" with bad loans at over a decade low and strong capital buffers, will continue to face intense competition from non-bank sources for resource mobilisation, said the Reserve Bank of India's (RBI's) Trend and Progress of Banking in India 2024-25 report.
After a 25 basis point rate cut in December, the RBI on Friday decided to pause on the policy rate front amid geopolitical uncertainties.
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