6:10 AM
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8:10 PM
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RBI imposed penalties on the Central Bank of India and Sonali Bank PLC for non-compliance with regulatory norms. The Central Bank of India was fined Rs 1.45 crore for issues including sanctioning a working capital demand loan improperly and failing to credit amounts from unauthorized electronic transactions to customers' accounts on time. Sonali Bank PLC was fined Rs 96.4 lakh for non-compliance with Know Your Customer (KYC) Directions, 2016.
5:10 AM
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Facing an uncertain future in the wake of RBI's decision to put an end to Paytm Payments Bank and the wallet business, scores of employees are being asked to "voluntarily resign" without being given any prior notice, several have been denied severance pay and many are being asked to pay back their joining and retention bonuses to the company, several former and present employees of Paytm told TOI.
11:10 AM
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ATM fee hike: Presently, banks offer their savings bank account holders a minimum of five free transactions per month in the six metro cities of Bengaluru, Chennai, Hyderabad, Kolkata, Mumbai, and New Delhi.
10:10 AM
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The US Federal Reserve chose to keep the benchmark interest rate steady at a range of 5.25 to 5.50 percent. This decision marks the seventh consecutive instance where the central bank has refrained from adjusting the rate. The Federal Reserve revised its projections, now anticipating only a single rate reduction throughout the current year.
1:10 PM
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Gold prices on MCX remained steady as investors awaited US inflation data and the Federal Reserve's upcoming interest rate decision. Bullion has gained 12% this year, supported by Fed rate cut expectations, safe-haven demand, and purchases by central banks.
3:10 PM
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State Bank of India board has approved raising up to $3 billion in debt for the current fiscal year. The government-run bank will secure the funds in one or more installments via a public offering or a private placement of senior unsecured notes.
8:10 AM
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State Bank of India and public sector lenders are seeking government approval to offer incentives for deposits, aiming to address the impact on credit flow. Suggestions include reducing the lock-in period for tax-saving fixed deposits to three years, as investors prefer equities and mutual funds with better returns.
3:10 PM
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India gold reserves: Shaktikanta Das, the governor of the Reserve Bank of India, has now explained the rationale behind the decision to bring 100 tonnes of gold back to the country.
1:10 PM
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HDFC Bank has revised fixed deposit tenures and interest rates below Rs 2 crore, effective June 10, 2024. The peak interest rate of 7.25% is applicable to deposits with tenures between 18 months and less than 21 months.
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