A Complete Banking Guide... Bank of Baroda, Allahabad Bank, Andhra Bank, Bank of India, Bank of Maharashtra, Canara Bank, Central Bank of India, Dena Bank, ICICI Bank, IDBI Bank Limited, Indian Bank, Indian Overseas Bank,, Oriental Bank of Commerce, Punjab & Sind Bank, Punjab National Bank, State Bank of India, UCO Bank, UTI Bank Ltd., Union Bank of India, United Bank Of India, Vijaya Bank, Yes Bank, Mutual Funds, Income Tax
8:10 PM
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The Reserve Bank of India has constituted a new six-member Payments Regulatory Board (PRB) to supervise the nation's payment systems. Chaired by the RBI Governor, the PRB includes three central government nominees, a significant change from its predecessor, the BPSS. This board is mandated to meet at least twice annually for effective oversight.
9:10 AM
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October is set to be a significantly busy festive month, leading to numerous bank holidays across India for major celebrations like Durga Puja, Dussehra, and Diwali. Banks will remain closed on various dates for these festivities, including Mahatma Gandhi Jayanti and other regional occasions, in addition to the standard second and fourth Saturdays. This ensures widespread closures throughout the month.
8:10 AM
Blogger
Stock market recommendations: Nifty and Bank Nifty experienced significant declines last week, with Nifty falling due to US policy changes impacting IT and pharma sectors, signaling deepening bearish sentiment. Amidst this market weakness, SBI Securities recommends accumulating Larsen & Toubro and Ashok Leyland, citing strong technical breakouts and resilience for both stocks.
6:10 AM
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The RBI has ordered Bengaluru-based BNPL firm Simpl to immediately cease its payments operations for running a system without explicit central bank authorization. This action is part of the RBI's broader campaign to regulate digital credit, addressing concerns over unsecured lending and weak oversight. Simpl also faces Enforcement Directorate scrutiny for alleged FDI and foreign exchange violations.
12:10 AM
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The Department of Financial Services, with the Supreme Court's MCPC, recently conducted a 40-hour mediation training for DRT officers and public sector bank executives. Held in September, the programme highlighted alternative dispute resolution's growing importance in the financial sector. Participants learned mediation fundamentals, negotiation, and dispute resolution techniques under RDB and SARFAESI Acts, receiving widespread appreciation for the initiative.
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