The Reserve Bank of India (RBI) has imposed a ₹91 lakh penalty on HDFC Bank after uncovering serious lapses in compliance, including violations of KYC norms and key provisions of the Banking Regulation Act. According to an official RBI statement, the bank failed to meet essential standards for outsourcing financial services, particularly in areas involving Read More…
The Reserve Bank of India (RBI) has announced that all official bank websites must now shift to the exclusive ‘.bank.in’ domain. The directive comes amid a sharp rise in online banking fraud, where customers often fall prey to phishing links disguised as genuine bank messages or portals. The new domain system aims to offer stronger Read More…
The Reserve Bank of India (RBI) has announced that people can now take loans by pledging silver, just like gold. The new regulation, effective April 1, 2025, allows banks and financial institutions to accept silver as collateral, bringing a fresh wave of opportunity for investors and households alike. The RBI’s new Gold and Silver Loan Read More…
Mumbai: The Reserve Bank of India (RBI) sold a total of $7.7 billion (₹64,000 crore) in August to contain the sharp depreciation of the Indian rupee, which has been under intense pressure following the U.S. decision to impose heavy tariffs on Indian imports. According to the RBI’s latest monthly bulletin, the central bank intervened aggressively Read More…
The Reserve Bank of India (RBI) has directed banks to speed up the return of long-pending unclaimed deposits to rightful owners and their legal heirs. Banks have been asked to complete the process for maximum accounts within three months. Unclaimed deposits include savings or current accounts left idle for over 10 years and fixed deposits Read More…
New Delhi: The era of free UPI transactions could soon come to an end. In a significant statement, RBI Deputy Governor Sanjay Malhotra hinted that users of digital payment platforms like PhonePe and Google Pay may soon have to pay for UPI services, as the government considers a sustainable funding model for the booming payment Read More…
New Delhi: In a major financial boost to the Union Government, the Reserve Bank of India (RBI) has announced a record-breaking surplus transfer of ₹2.69 lakh crore for the financial year 2024-25 — the highest in its history. This marks a sharp 27.37% increase over last year’s ₹2.10 lakh crore dividend. The decision, taken at Read More…
Mumbai: In a significant move to boost economic growth, the Reserve Bank of India (RBI) has cut the repo rate by 25 basis points, bringing it down to 6.25%. This marks the first rate reduction since May 2020, when the central bank slashed the rate by 40 basis points to 4% amid the COVID-19 crisi Read More…
Sanjay Malhotra, who took office as the Reserve Bank of India (RBI) Governor in December 2024, is expected to shift the RBI’s monetary policy towards a more growth-friendly stance. This marks a departure from his predecessor, Shaktikanta Das, who focused on controlling inflation with higher interest rates for the past two years. Under Malhotra’s leadership, Read More…
The Reserve Bank of India (RBI) in Mumbai received a bomb threat via email on December 13, 2024. The email, written in Russian, threatened to blow up the bank. Authorities immediately launched an investigation, and the police registered a case against an unidentified individual at the Mata Ramabai Ambedkar Marg (MRA Marg) Police Station. Law Read More…