Daily Latest News
Banks have become an essential part of our daily lives. Whether it’s withdrawing cash, depositing funds, or making payments, most of us interact with banks regularly. Cheques remain a common method of payment, and if you’ve ever issued or received one, you’ll know that the amount must be written in both words and figures. But…
New Delhi: The Reserve Bank of India (RBI) has rolled out key changes to its banking rules. This gives banks more flexibility while ensuring added benefits for borrowers. Three of these amendments will come into effect from October 1, while four others have been shared as drafts for public feedback. Changes Coming Into Effect from…
New Delhi: Planning a bank visit this month? Keep in mind that, as per the Reserve Bank of India (RBI) guidelines, all banks in India will be closed on Saturday, August 23, since it falls on the fourth Saturday of the month. Banks stay shut on all Sundays and the second and fourth Saturdays, while…
New Delhi: Reserve Bank of India’s (RBI) revised directions on co-lending will boost the transparency in the lending space by strengthening disclosure requirements and expanding regulatory oversight beyond banks and NBFCs, a report said on Wednesday. All forms of loans will fall under the regulatory oversight compared with only priority sector loans currently, Crisil Ratings…
New Delhi: The Reserve Bank of India has, from time to time, underscored the importance of clear and accessible communication between banks and their customers, stressing the need to use the customer’s preferred language, the Parliament was informed on Tuesday. “RBI’s Master Circular on Customer Service in Banks states, inter alia, that all customer-facing materials…
The Reserve Bank of India (RBI) has officially announced the introduction of a newly designed Rs 20 note, which will be part of a fresh currency series. While the note will carry updated features, it will retain much of its existing appearance, ensuring familiarity for the public. According to the RBI, the new Rs 20…
New Delhi: AU Small Finance Bank (AUSFB) on Tuesday submitted an application to the RBI seeking approval for a universal bank licence. The RBI in April invited applications from small finance banks meeting specified criteria, including a minimum net worth of Rs 1,000 crore, for becoming regular or universal banks. AUSFB submitted an application to…