Latest News, Updates & Breaking Headlines
More than Rs 72,000 crore in unclaimed bank deposits, including amounts lying with foreign lenders, have been transferred to a fund maintained by the Reserve Bank of India (RBI), the government told Parliament on Tuesday. The money is held in the Depositor Education and Awareness (DEA) Fund and reflects balances that have remained untouched for…
The Reserve Bank of India (RBI)-led Monetary Policy Committee (MPC) on Friday kept the repo rate unchanged at 5.25% in line with expectations from market analysts and economists. The decision to hold the repo rate was driven by resilient GDP growth and benign inflation, amid global headwinds.“After a detailed assessment of the evolving macroeconomic conditions…
In a move expected to bring relief to employers and reduce routine tax disallowances, the finance bill has proposed a key change to the treatment of employees’ provident fund (PF), ESI and similar contributions, allowing deductions even where there is a delay in deposit, provided the amount is deposited by the employer entity with the…
MUMBAI: Large banks show a continued trend of credit growth outpacing deposit mobilisation in the quarter ended Dec 31, 2025, with most lenders reporting advances rising faster than liabilities, and shifting deposit mix in favour of term deposits over current and savings accounts (CASA).India’s largest private bank HDFC Bank reported gross advances of around Rs…
Private sector lender Bandhan Bank on Sunday reported a 10 per cent year-on-year growth in its loans and advances, totalling Rs 1,45,227 crore for the third quarter ended December 31, 2025.The bank had reported loans and advances worth Rs 1,32,019 crore in the corresponding period of the previous fiscal.According to the provisional business update submitted…
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…
NEW DELHI: Rapido has denied any involvement in an Enforcement Directorate (ED) investigation into a Rs 331-crore money deposit trail linked to a bike taxi driver account.According to ED officials, the account received Rs 331.36 crore between August 2024 and April 2025, in what they described as a classic case of a “mule” account used…
The finance ministry is working with the Reserve Bank of India to develop a unified portal that will allow citizens to search and claim unclaimed assets across bank deposits, pension funds, shares, dividends and other financial instruments, Department of Financial Services (DFS) Secretary M Nagaraju said on Thursday.Speaking at a Punjab National Bank mega camp…
The finance ministry has directed public sector banks (PSBs) to ramp up lending to micro, small and medium enterprises (MSMEs) and the agriculture sector while maintaining healthy growth in low-cost deposits and ensuring strong risk management, according to an official statement issued on Wednesday.Chairing a performance review meeting with bank chiefs, Department of Financial Services…
MUMBAI: After briefly catching up with credit growth, bank deposit growth has again begun to lag advances. Early business updates from banks for the September quarter show a mixed trend, with some lenders-such as HDFC Bank-deliberately slowing credit expansion to maintain balance sheet stability. According to RBI data, deposits of scheduled commercial banks grew 10.4%…
