1:10 PM
Blogger
Republic First Bank in PA, NJ, NY, seized by FDIC. Acquired by Fulton Bank. $667M cost, 1st US bank failure in 2022. Steven Mnuchin group injects $1B into New York community Bancorp.
6:10 AM
Blogger
The Madras HC has asked RBI to carry out a valuation of shares and assets of DBS Bank India and Lakshmi Vilas Bank as on the date before their amalgamation in Nov 2020. RBI has been asked to take a fresh decision on reduction of the value of shares and writing off the tier-2 bonds, based on the fresh valuation, within four months.
5:10 AM
Blogger
RBI has outlined the eligibility criteria for small finance banks (SFBs) to become a universal bank. This transition will enable them to provide loans to larger businesses and offer the full range of financial services and banking products.
8:10 PM
Blogger
RBI's restrictions on Kotak Mahindra Bank impact new customer onboarding and credit card issuance, with uncertainties for existing customers. The ban's duration depends on an external audit and corrective measures satisfaction, potentially lasting six to twelve months.
3:10 PM
Blogger
In April 2024, bank holidays impact operations with closures on specific Saturdays. ATMs and online services remain available. India's banks follow a distinctive schedule, open on select Saturdays and closed on national festivals.
6:10 AM
Blogger
Axis Bank overtook Kotak Mahindra Bank on Thursday to become India's third most valued private lender after a rout in the latter's stock. Kotak Bank's stock opened deep in the red on Thursday a day after RBI restricted the lender from onboarding customers digitally and issuing credit cards, citing repeated failures to fix "serious deficiencies" in its IT system.
4:10 PM
Blogger
Bank holidays on April 26, 2024, for Lok Sabha Election 2024. RBI classifies holidays; online banking services usable. Karnataka High Court declares public holidays for election days. Second phase details for Assam, Bihar included.
2:10 PM
Blogger
RBI restricts Paytm Payments Bank from receiving money post-March 15, 2024. Users must switch from '@paytm' UPI handles to new ones like '@ptsbi' for SBI. Paytm integrates with major banks under NPCI's approval.
10:10 AM
Blogger
Shares of Kotak Mahindra Bank dropped by 10% following RBI's temporary pause on new customer onboarding and credit card issuance. Brokerages lowered target prices as the bank's online customer acquisition is affected.
7:10 PM
Blogger
RBI waived NEFT charges from Jan 1, 2020, benefiting savings account holders. NEFT allows nationwide payments in batches, while RTGS settles large transactions continuously. SBI, HDFC, ICICI, PNB charge NEFT transactions.
5:10 PM
Blogger
The Reserve Bank of India (RBI) has directed Kotak Mahindra Bank to halt the issuance of new credit cards and onboarding of customers through online and mobile banking channels. This directive comes as a result of regulatory actions concerning compliance and risk management at the bank. Existing customers, including credit card holders, will not face service disruptions.
4:10 PM
Blogger
Short-term Fixed Deposits in India offer varying interest rates. HDFC Bank, ICICI Bank, and Yes Bank provide rates between 3% and 7.25% for terms under one year, as per an ET report.
6:11 PM
Blogger
Recent changes in savings account charges by major Indian banks, including ICICI Bank, Axis Bank, and Yes Bank, impact various services like cheque books, debit cards, and cash transactions. Effective from April 1 and May 1, 2024.
1:10 PM
Blogger
Recycled mobile phone numbers: According to regulations, telecom companies can reclaim a mobile number from a customer if it remains unused or not recharged for a period of six months. In the case of mobile number portability (MNP), if a customer has initiated a request to port but has not transitioned to another telco, the number will be withdrawn after two months.
1:10 PM
Blogger
The Reserve Bank of India has directed regulated payment companies to monitor high-value or suspicious transactions to prevent misuse during elections. This directive aims to curb influence on voters and indirect funding of candidates.
5:10 AM
Blogger
HDFC Bank CEO Sashidhar Jagdishan has urged investors to exercise patience during the bank's transition, likening it to the construction of Mumbai's coastal road. He assured that benefits would emerge in due course following this phase of transition. In an investor call following the bank's results, Jagdishan emphasized the bank's objective of securing the sustainability of its deposit franchise.
9:10 PM
Blogger
2:10 PM
Blogger
Banks are considering a proposal to integrate their systems with the National Cybercrime Reporting Portal (NCRP) to prevent swift fund transfers by cyber fraudsters during attacks. The initiative aims to streamline the process of freezing accounts and recovering funds in cases of digital crimes and phishing attacks.
4:10 AM
Blogger
RSS Feed
Twitter
