MUMBAI: Banks will soon price deposit insurance by risk, while depositor protection stays unchanged. From April 1, 2026, RBI will adopt risk-based pricing for deposit insurance, a global norm, without altering coverage or payouts. Until now, all banks paid a flat premium of 12 paise per Rs 100 of deposits, regardless of financial strength. The…
MUMBAI: HDFC Bank’s chief has admitted that the bank has fallen short of its deposit mobilisation growth and has set a very wide range for credit-deposit targets for the current financial year and the next, highlighting the uncertain environment.“Having focused on granular segments has given us encouraging outcomes. We did, however, fall short of our…
MUMBAI: Deposit outflows during the first half of Dec, which was largely attributed to tax payments, widened the gap between credit offtake and deposit accretion at scheduled banks, highlighting a growing structural imbalance in the system. According to RBI data, on a year-on-year basis, deposit growth continued to lag credit expansion during the fortnight ended…
MUMBAI: The central board of Reserve Bank of India has approved a proposal to move to a risk-based pricing system for deposit insurance, marking a shift from the uniform premium currently charged to banks under the Deposit Insurance and Credit Guarantee Corporation (DICGC) scheme.Announcing the banking reform measures alongside the monetary policy decision in Oct,…
MUMBAI: State Bank of India has cut rates on select deposits and reduced lending benchmarks. The move follows the 25 bps reduction in policy rate. The revised rates come into effect from Dec 15. The bank has cut the rate on its 444-day deposit from 6.6% to 6.5%.SBI has cut rates on select deposits and…
India’s rural centres are now leading the country’s fixed deposit (FD) expansion, reversing a trend that long saw metropolitan areas driving deposit growth, according to the Reserve Bank of India’s latest data.Rural FD balances jumped 14% year-on-year to Rs 9.7 lakh crore in the September quarter, significantly outpacing the 10% rise in metro centres to…
Fixed deposit investors may soon face another round of interest rate cuts after the RBI announced reducing the repo rate for the fourth time this year. The central bank on Friday reduced the interest rate by 25 basis points to 5.25%, which is down 125 basis points from the 6.5% level at the start of…
As November 2025 approaches, several important financial regulations and policy updates are set to take effect, impacting bank customers, credit card holders, and government employees.These changes range from revised nomination rules for bank accounts and lockers to updates in SBI Card fees and deadlines for pension-related submissions, as reported by ET. The measures aim to…
In the latest twist in the ongoing fraud case involving Bollywood actress Shilpa Shetty and her businessman husband Raj Kundra, recent reports claimed that the Bombay High Court had directed the couple to deposit Rs 60 crore before travelling abroad. Raj Kundra has now firmly denied these reports, calling them incorrect and misleading.Speaking to Hindustan…
MUMBAI: RBI has issued new rules on Friday that in the event of a bank customer’s death, deposits of up to Rs 15 lakh can be claimed by their nominees through a simplified process. For co-operative banks, the limit has been set at Rs 5 lakh.RBI’s new norms have standardised procedures across banks for deposits,…