Swaminathan was first named as Deputy Governor in June 2023, prior to which he was a managing director at the country’s largest bank, State Bank of India.
Declining to comment on any specific entity, he said, “But they (banks) have to be transparent at the same time. You have to display them (the rates) to everyone clearly, and any differential rate beyond that, if someone is giving, is certainly not acceptable.”
In the letter, RBIOA General Secretary Jeet Pathak said the association had participated in the consultative process with the legitimate expectation that the long-standing issue of stagnation in the officer cadre would finally be addressed.
The delay in the issuance of the list of banks authorised to import gold and silver had “effectively halted gold imports” into the country, Madhavi Arora, Chief Economist at Emkay Global Financial Services, said.
In the draft norms on branch authorisation released on Monday, the RBI proposed defining three types of delivery points — bank branches, Business Correspondent-Banking Outlet and Business Correspondent-Banking Touchpoint.
These bonds were written off in line with regulatory order when Credit Suisse was acquired by Swiss peer UBS in 2023, leading to an uproar among investors.
The rupee, which had fallen below 95, closed at 94.81 against the dollar Wednesday. However, Wednesday’s directive provides some operational flexibility.
This initiative aims to merge the trusted, well-established features of traditional paper cheques with the efficiency, speed and security of digital payment systems, while also catering to evolving business and consumer needs.
“The bank identified certain gaps in client‑onboarding requirements at its DIFC branch in the UAE and has completed a detailed and objective review of the matter,” the bank said in a statement to The Indian Express.
“Happy to inform that I have successfully updated my KYC for the 18th time in my rather short adult life. Gratitude to my Investment Adviser, my father (he is overjoyed his name is spelt correctly) and my smart phone,” a customer wrote on X recently.
SBI accounted for 59% of commissions from selling these third-party financial products, data provided by the Finance Ministry to the Rajya Sabha on Tuesday showed.
Under draft guidelines issued as part of the ‘Review of Framework of Limiting Customer Liability in Digital Transactions’, lenders would be required to reverse unauthorised transactions if the fraud is linked to lapses on their part.
HDFC’s retail loans grew by 6.9 per cent, small and mid-market enterprise loans rose 17.2 per cent and corporate and other wholesale loans grew by 10.3 per cent.
“In case the specific provision was not there, instead of a (-) 4 per cent (dip in net profit), we would have a (+) 4.1 per cent (growth) in PAT,” Sandeep Batra, Executive Director, ICICI Bank, told reporters.
Based on the date of reporting by banks, the total number of frauds decreased to 5,092 in H1 FY26, as against 18,386 in the corresponding period of last year, the RBI said in its report on Trend and Progress of Banking in India 2024-25.
]Highlighting concerns over an acute shortage of small denomination currency notes in the country, the All India Reserve Bank Employees Association (AIRBEA) has urged the Reserve Bank of India (RBI) to ensure adequate supply of these notes. The RBI employees’ union noted that while there was no visible shortage of higher denomination currency notes of […]
The rural, semi-urban and urban branches registered 11.7 per cent, 10.7 per cent and 9.5 per cent deposit growth, respectively, during the same period, the RBI’s quarterly data on bank deposits said.
Loans above Rs 75 lakh now contribute 39.4 per cent of total originations. PSU banks strengthened their lead in the segment, lifting their market share to 50 per cent, according to data from CRIF High Mark, a credit information bureau registered with the RBI.
“Such unregistered platforms lack regulatory or supervisory oversight and do not provide for any mechanisms for investor protection or grievance redressal,” Sebi warned.
Canceled shows to Rs 300-cr hit: Makers on Suriya’s Karuppu success after Rs 45-cr deficit
Entertainment36 min ago
The Tamil film Karuppu's production house expressed gratitude to all contributors for the film's success, crossing Rs 300 crore at the box office. Despite praise for the director and technical team, there were financial struggles and a major miscalculation.
