Banks

Vigilance oversight: FinMin tells PSU banks, insurers to promptly flag adverse inputs on board-level executives; lapses raise concerns

contact@dailyupdatesindia.com5 months ago02 mins

The finance ministry has directed public sector banks and financial institutions, including insurance companies, to ensure prompt reporting of vigilance-related matters concerning whole-time directors (WTDs), citing repeated instances of delayed or incomplete disclosures, PTI reported.In an advisory issued by the Department of Financial Services (DFS) earlier this month, the ministry said adverse information about board-level…

Rupee’s fall triggers fund transfer: Rich Indians rush to park money overseas; banks roll out additional regulations

contact@dailyupdatesindia.com5 months ago04 mins

Many Indians looking to transfer money overseas are facing tightened scrutiny from high street banks, demanding to provide detailed proof behind the origin of the funds. This comes as rupee continues to slide against the US dollar and many rush to move their funds abroad. Over the past month, at least two Mumbai-headquartered private sector…

Private banks lead small business lending; PSBs lost share in last 2 years: Report

contact@dailyupdatesindia.com5 months ago03 mins

Private banks lead small business lending; PSBs lost share in last 2 years: Report NEW DELHI: Private banks continue to dominate enterprise lending to small businesses in India, closely followed by public sector banks (PSBs), though the latter have seen a decline in their market share over the past two years, according to a report…

Faster cheque clearance gets delayed; banks not ready: RBI

contact@dailyupdatesindia.com5 months ago01 mins

MUMBAI: RBI on Wednesday postponed phase 2 of its nationwide faster cheque clearance system, citing banks’ lack of operational readiness after issues in faced by some banks in phase 1. Phase 2 of the Continuous Clearing and Settlement on Realisation in the Cheque Truncation System, due to start on Jan 3, has been deferred until…

Bank holiday on Christmas: Will banks remain shut today and tomorrow? – check full list

contact@dailyupdatesindia.com5 months ago02 mins

With Christmas around the corner, many customers remain confused about bank operations as online messages and local notices give mixed signals. People planning cash withdrawals, cheque deposits or branch visits are often unsure whether Christmas Eve is a working day or a bank holiday. To avoid last-minute inconvenience, it is important to understand how bank…

Commodity trade entry by banks, insurers on table

contact@dailyupdatesindia.com5 months ago02 mins

NEW DELHI: Stock market regulator Sebi is working with RBI and the insurance regulator to enable participation of banks and insurance companies in commodities derivatives markets, its chairman Tuhin Kanta Pandey said on Saturday.Working groups have also been set up to suggest measures to deepen the Agri Commodity Derivatives ecosystem, he said. Among other things,…

MSME lending: RBI nudges banks to link MSME loans to external benchmark; govt lists wider support measures

contact@dailyupdatesindia.com5 months ago02 mins

Banks have been advised by the Reserve Bank of India (RBI) to link loans extended to micro, small and medium enterprises (MSMEs) to an external benchmark in order to strengthen monetary policy transmission, the government informed Parliament on Saturday.In a written reply to the Lok Sabha, Minister of State for MSME Shobha Karandlaje said the…

RBI eases rules tying cos to lending banks

contact@dailyupdatesindia.com5 months ago02 mins

Businesses can now open current and overdraft accounts with more banks as the RBI has raised the loan threshold for restrictions to Rs 10 crore. This move offers greater flexibility, allowing companies to manage payments and collections across a wider banking network. The revised framework, effective April 1, 2026, aims to reduce dependence on single…

RBI tells banks: Use tech to sustain growth

contact@dailyupdatesindia.com5 months ago01 mins

MUMBAI: RBI governor Sanjay Malhotra on Tuesday asked bank chiefs to use technology to cut down intermediation costs so as to work with lower spreads and support sustainable growth. At the same time, he asked banks to guard against the growing number of digital frauds by using intelligence-driven safeguards.Malhotra met with the managing directors and…

Capital market: Mutual funds could beat banks in credit; Kotak AMC Nilesh Shah explains what investors should do

contact@dailyupdatesindia.com5 months ago02 mins

Credit provided by India’s capital markets could eventually surpass bank lending, Kotak Mahindra AMC managing director and CEO Nilesh Shah said on Tuesday, underscoring a structural shift in how the economy is financed.Speaking at an event in Mumbai, Shah said credit, which was traditionally dominated by banks, is increasingly being provided by capital markets and…

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Vigilance oversight: FinMin tells PSU banks, insurers to promptly flag adverse inputs on board-level executives; lapses raise concerns

Rupee’s fall triggers fund transfer: Rich Indians rush to park money overseas; banks roll out additional regulations

Faster cheque clearance gets delayed; banks not ready: RBI

Commodity trade entry by banks, insurers on table

MSME lending: RBI nudges banks to link MSME loans to external benchmark; govt lists wider support measures

RBI eases rules tying cos to lending banks

RBI tells banks: Use tech to sustain growth

Capital market: Mutual funds could beat banks in credit; Kotak AMC Nilesh Shah explains what investors should do