Banking Reforms News - Latest Updates & Headlines
RBI urged to tighten banking norms after ICICI employee's multi-crore FD fraud
New Delhi, June 6: In wake of revelations that a female employee of ICICI Bank illegally withdrew crores of rupees from more than 100 customer accounts, including fixed deposits (FDs), financial experts have called on the Reserve Bank of India (RBI) to take stricter measures to address such loopholes in the banking system.
RBI to raise gold loan-to-value ratio to 85 pc for small borrowers
Mumbai, June 6: Reserve Bank Governor Sanjay Malhotra on Friday said the central bank will raise the Loan-to-Value (LTV) ratio for gold loans to small borrowers of up to Rs 2.5 lakh to 85 per cent from the existing 75 per cent.
Top bankers hail RBI's big bang measures to boost financial inclusion
New Delhi, June 6: Top bankers on Friday hailed the Reserve Bank's decision to reduce repo rate by 50 basis points to 5.50 per cent and cash reserve ratio (CRR) by 100 basis points in four tranches, saying the policy move is expected to provide the necessary drive for credit expansion in priority sectors which will enhance the financial inclusion.
Finance Ministry holds high-level meeting to expedite recovery of debt
New Delhi, May 25: The Department of Financial Services (DFS), under the Ministry of Finance, has urged all stakeholders to collaborate in reducing pendency of debt cases by establishing effective recovery ecosystem.
Need to further strengthen financial inclusion initiatives: FM Sitharaman
New Delhi, May 13: Finance Minister Nirmala Sitharaman on Tuesday emphasised the need to further strengthen financial inclusion initiatives by bringing the masses within their ambit.
Bharat ka paani, Bharat ke haq mai hi bahega aur Bharat ke hi kaam aayega: PM Modi on Indus Water Treaty
New Delhi, May 6: Making a veiled reference to India putting the Indus Water Treaty with Pakistan in abeyance following the Pahalgam terror attack, Prime Minister Narendra Modi on Tuesday said that water on which India had a right was earlier going out but now it will come to use in the country.
Financial markets must play crucial role to fulfil India's aspirations: RBI Governor
New Delhi, April 20: India's financial markets must play a crucial role if the country is to successfully navigate global challenges and achieve its long-term aspirations, said Reserve Bank of India (RBI) Governor Sanjay Malhotra.
RBI announces six key measures to strengthen India's banking, fintech, payments ecosystems
Mumbai, April 9: In a move to strengthen India's financial ecosystem, Reserve Bank of India (RBI) Governor Sanjay Malhotra on Wednesday announced six additional measures focused on banking regulation, fintech, and payment systems.
Government notifies amalgamation of Regional Rural banks on principles of 'One State One RRB'
New Delhi, April 8: The Department of Financial Services (DFS) has notified the amalgamation of 26 Regional Rural banks (RRBs) on the principles of 'One State One RRB', the Ministry of Finance said in a statement Tuesday.
MUDRA has democratised India's financial system: PM Modi
New Delhi, April 8: Prime Minister Narendra Modi highlighted on Tuesday that the Pradhan Mantri MUDRA Yojana (PMMY), launched 10 years ago on April 8, has turned out to be a massive success in empowering the poor at the grassroots with over 52 crore loans given worth Rs 33 lakh crore.
Aspiration to achievement: PM Modi highlights country's transformation in last decade
New Delhi, March 28: Prime Minister Narendra Modi on Friday underlined India's transformation from dependence to self-reliance over the last decade, asserting that the dream of a developed India by 2047 can only be achieved through collective effort.
Will help people...: Nirmala Sitharaman's humorous take on AAP's Raghav Chadha raising conditions of banks
New Delhi, March 27: Union Finance Minister Nirmala Sitharaman on Wednesday, had a humorous response to Aam Aadmi Party (AAP) Rajya Sabha MP Raghav Chadha for raising the issue of the conditions of banks in Parliament.
Banking Laws (Amendment) Bill is just paper reform: Raghav Chadha
New Delhi, March 26: Aam Aadmi Party MP Raghav Chadha criticised the ‘Banking Laws (Amendment) Bill, 2024’ during discussion in the Rajya Sabha on Wednesday, terming it a ‘paper reform’ that fails to address the real issues faced by the common people.
Centre discontinues Gold Monetisation Scheme, short-term deposits will continue
New Delhi, March 25: The government on Tuesday announced to discontinue the medium term and long term government deposit (MLTGD) components of the Gold Monetisation Scheme (GMS), effective from March 26.
55.02 crore Jan-Dhan accounts opened; 36.63 crore in rural, semi-urban areas: Centre
New Delhi, March 18: A total of 55.02 crore Jan-Dhan accounts have been opened till March 7, out of which, 36.63 crore accounts are in rural and semi-urban areas, the government said on Tuesday.
Bank credit to priority sectors jumped 85 pc to Rs 42.7 lakh crore in last 6 years: FM Sitharaman
New Delhi, March 11: The overall credit disbursement by banks to priority sectors including agriculture, MSME and social infrastructure in 2019 was Rs 23,01,567 crore, which rose to Rs 42,73,161 crore in 2024, recording an increase of 85 per cent over the six-year period, Finance Minister Nirmala Sitharaman informed the Lok Sabha on Tuesday.
Recapitalisation, reforms have worked well for public sector banks: SBI Chairman
Mumbai, Feb 18: Recapitalisation and reforms in the last few years have really worked well for the public sector banks and balance sheets are cleaner now, State Bank of India (SBI) Chairman, C.S. Setty, said on Tuesday.
More RBI rate cuts on the cards, stance likely to change from neutral to accommodative
New Delhi, Feb 9: As the RBI embarks upon the rate cut cycle, it can be expected that more cuts are also on the cards, while the timing can be debatable, according to a Bank of Baroda note.
PSBs highest-ever net profit of rs 1.29 lakh crore recorded, marking 31.3 per cent growth
New Delhi, February 6: Public Sector Banks (PSBs) have recorded the combined net profit surged to an all-time high of Rs 1,29,426 crore during April-December 2024, registering a 31.3 per cent year-on-year (YoY) growth.
RBI may use CRR as a regulatory intervention tool rather than liquidity management tool: SBI Report
New Delhi, February 4: The Reserve Bank of India (RBI) may start using the Cash Reserve Ratio (CRR) more as a regulatory intervention tool rather than just a liquidity management tool in the future, according to a report by the State Bank of India (SBI).