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According to Reserve Bank of India (RBI) data, system credit growth edged up to 10.3% year-on-year as of September 5, compared with 10% as of August 22, while deposit growth moderated to 9.8% from 10.2% over the same period. The system credit-deposit ratio remained elevated at 79% as of September 2025. Mumbai: Banks reported modest loan growth in the September quarter, broadly in line with the system-wide expansion of around 10.5%, while deposit growth remained resilient despite recent rate cut ...Read More >
NEW DELHI: Many major financial and regulatory changes took effect on Wednesday, affecting small banking, postal services, pensions, and railway ticketing. Indian Railways booking platform IRCTC has launched new Aadhaar-based guidelines for the online booking of general tickets to prevent misuse of the reservation system by fraudulent agents. India Post is expected to revise its Speed Post charges and introduce an OTP-based delivery system to improve the security of the packages, effective from ...Read More >
New Delhi, Oct 1 (SocialNews.XYZ) Many major financial and regulatory changes took effect on Wednesday, affecting small banking, postal services, pensions, and railway ticketing. Indian Railways booking platform IRCTC has launched new Aadhaar-based guidelines for the online booking of general tickets to prevent misuse of the reservation system by fraudulent agents. India Post is expected to revise its Speed Post charges and introduce an OTP-based delivery system to improve the security of the p ...Read More >
New Delhi, Sep 30 (SocialNews.XYZ) The government has cleared the appointment of Asheesh Pandey as Managing Director and Chief Executive Officer of Union Bank of India, and Kalyan Kumar as the new head of Central Bank of India. Both appointments are for a period of three years. The Appointments Committee of the Cabinet, chaired by Prime Minister Narendra Modi, approved the appointments. Pandey, who is currently serving as Executive Director of Bank of Maharashtra, will take charge as MD and CE ...Read More >
New Delhi, September 28: In a major breakthrough against cyber-enabled financial fraud, the Delhi Police Crime Branch's Cyber Cell has arrested a key accused linked to a pan-India crypto investment racket that defrauded a victim of nearly Rs 34 lakh, police officials said on Sunday. Officials said the accused, Naresh Kumar of Haryana's Karnal, was apprehended for acting as a professional "account provider" to organised cyber fraud syndicates operating under the name Coin-Ex Crypto Trading. Digi ...Read More >
A special court has pardoned Maiank Mehta, Nirav Modi's brother-in-law. He is now an approver in the PNB scam case. The court granted his plea on September 22. Mehta must provide a full disclosure of all circumstances. He voluntarily came to India in 2021. This development could offer new information into the multi-crore fraud. A special court has granted Maiank Mehta, brother-in-law of absconding businessman Nirav Modi, a pardon in the case linked to the multi-million dollar Punjab National Ba ...Read More >
NEW DELHI: Punjab National Bank (PNB) has signed a Memorandum of Understanding (MoU) with Bharat Sanchar Nigam Limited (BSNL) to open salary accounts for the public sector telecom carrier's employees. Under this MoU, PNB will extend its specially designed salary account offerings to the employees of BSNL, covering a wide range of benefits aimed at ensuring their financial security and convenience. The key features of salary accounts include free hospicash facility, free term insurance, free pe ...Read More >
New Delhi, Sep 15 (PTI) State-owned Canara Bank on Monday said its subsidiary, Canara HSBC Life Insurance Company Ltd, has received capital market regulator Sebi's nod for its proposed initial public offering (IPO). Canara HSBC Life Insurance has received communication from the Securities and Exchange Board of India (Sebi) vide letter dated September 15 on final observations and for filing Updated Red Hearing Prospectus (UDRHP), Canara Bank said in a regulatory filing. The offer comprises an o ...Read More >
New Delhi, 13 September 2025: The Centre for Development of Telematics (C-DOT) under the Ministry of Communications has signed a Memorandum of Understanding (MoU) with Punjab National Bank (PNB) to strengthen the state-owned bank's IT infrastructure and fast-track its technology transformation journey. With technology continuing to outpace its impact on various sectors, ranging from digital payments, blockchains, and artificial intelligence to IoT and cloud solutions, this collaboration has the ...Read More >
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India is set to roll out Goods and Services Tax (GST) reforms later this month. While the new rates have made the middle class happy, food delivery through online aggregators â€" which has become ubiquitous â€" could get costlier as GST 2.0 becomes effective. India has got its new Vice-President. CP Radhakrishnan, the candidate proposed by the National Democratic Alliance (NDA), has won the elections and taken the oath. New Delhi is making efforts to extradite the fugitive diamantaire Mehul Ch ...Read More >
PNB celebrated its employees, hockey Olympians Abhishek and Sukhjeet Singh, for their achievements in the Asia Cup 2025. The Indian team won the competition, securing entry to the upcoming FIH World Cup. PNB's MD highlighted the players' contributions to both Indian hockey and the bank. State-owned Punjab National Bank (PNB) on Tuesday celebrated its hockey Olympians, Abhishek and Sukhjeet Singh, for their stellar performance in the Asia Cup 2025. Both players, proud employees of PNB, contribu ...Read More >
India is set to elevate its banking sector. The nation envisions two of its banks among the world's top 20 by 2047. This ambition was discussed at the PSB Manthan 2025. Currently, State Bank of India and HDFC Bank hold significant global positions. The focus is on organic growth and enhanced efficiency. Discussions also covered improved board autonomy and cybersecurity. India aims to establish two globally competitive banks, with assets that would rank them among the top 20 lenders in the world ...Read More >
New Delhi, Sep 12 (PTI) India aims to establish two globally competitive banks, with assets that would rank them among the top 20 lenders in the world as part of its 'Viksit Bharat 2047' vision to become a developed nation, according to a senior official. The issue of globally competitive banks was deliberated during the first day of the two-day-long PSB Manthan 2025, organised by the Department of Financial Services here, he added. Currently, the country's largest lender State Bank of India ( ...Read More >
Gurugram, Sep 12 (SocialNews.XYZ) In a Rs 346 crore bank fraud, the ED seized digital devices and incriminating documents during searches at 11 residential and commercial premises of Hythro Power Corporation Ltd (HPCL) and its officials in Delhi NCR, Bengaluru and Chennai, an official said on Friday. The Gurugram Zonal Office of the ED conducted the search and survey operations on Wednesday under the provisions of the PMLA, 2002. During search proceedings, several bank accounts belonging to th ...Read More >
Mumbai : Punjab National Bank (PNB), India's leading public sector bank, has signed a Memorandum of Understanding (MoU) with Maruti Suzuki India Limited (MSIL), to provide comprehensive inventory funding solutions for Maruti Suzuki's dealer network across India. This strategic partnership will offer customised financial products designed to enhance working capital access and strengthen the operational capabilities of automobile dealers nationwide. PNB is providing sanctions for credit facilitie ...Read More >
Mumbai: ICICI Bank has taken a step back on its earlier decision to increase the minimum average balance (MAB) required in new savings accounts. The bank had recently raised the MAB from Rs 10,000 to Rs 50,000 for new accounts opened on or after August 1. However, after receiving many complaints and feedback from customers, ICICI has now reduced the amount to Rs 15,000. New Balance Rules Explained The revised minimum balance for new savings accounts is now Rs 15,000 in regular branches, Rs 7,5 ...Read More >
New Delhi, August 13: Facing widespread outrage, private lender ICICI Bank on Wednesday partially reversed its minimum average balance (MAB) requirements from Rs 50,000 to Rs 15,000 for new customers in Metro and urban areas. The revision came after a pushback from customers and days after the second-largest bank in the country raised the MAB requirement from Rs 10,000 to Rs 50,000 for new customers in urban cities. The minimum balance that new ICICI Bank customers in semi-urban areas must main ...Read More >
Punjab National Bank (PNB) is well poised to touch the milestone of ₹30 lakh crore total business by the end of the current financial year and the country's second biggest lender has the right strategy in place to achieve it, the bank's MD and CEO Ashok Chandra said. Total business of PNB rose by 11.6 per cent to ₹27.19 crore at the end of the first quarter of the current financial year. PNB is closely followed by Bank of Baroda with total business of ₹26.43 lakh crore while Canara Bank at ...Read More >
New Delhi | Punjab National Bank (PNB) is well poised to touch the milestone of Rs 30 lakh crore total business by the end of the current financial year and the country's second biggest lender has the right strategy in place to achieve it, the bank's MD and CEO Ashok Chandra said. Total business of PNB rose by 11.6 per cent to Rs 27.19 crore at the end of the first quarter of the current financial year. PNB is closely followed by Bank of Baroda with total business of Rs 26.43 lakh crore while C ...Read More >
New Delhi: When you apply for a credit card, you usually check things like the features, rewards, and which bank is giving you the card. But did you know that there's a situation where the bank really doesn't matter much? It sounds odd, but it's true -- this happens with RuPay credit cards! RuPay cards, made by NPCI, can be connected to UPI. Once you link your RuPay credit card to UPI, you can make payments through UPI just like you would from your bank. The main difference? Instead of the mone ...Read More >
Mumbai: A Special Central Bureau of Investigation (CBI) court on Friday granted an interim stayed on the trial court proceedings before Magistrate court against wanted jeweller Mehul Choksi and other accused persons, Aniyath Nair and Vipul Chitalia in a bank fraud case probed by the CBI in relation to loan granted by Canara Bank to a company, Bazel Jewellery. In April, CBI had filed a chargesheet before the Esplanade court in the said matter alleging cheating, diversion of funds and misappropri ...Read More >
Patna: Non-vegetarian dishes have made Bihar's politics spicier on several occasions, and so union minister and senior JD (U) leader Rajiv Ranjan Singh aka Lalan Singh' recent mutton party for party workers and supporters under his Munger constituency was no exception. Lalan Singh listened to problems of common people at Suryagarha in Lakhisarai district of Bihar (part of Munger constituency) to sort them out with local authorities and also threw a mutton party for them, creating a controversy ...Read More >
MUMBAI : In the face of decadal-low savings rates, state-run banks are hoping that dropping charges for not maintaining a minimum balance will help hold customers' interest in bank deposits. The decision, said two bankers close to the matter, follows a regulatory push to address customer grievances, as well as internal surveys that estimated limited revenue loss if such minimum balances are not maintained. "The Reserve Bank of India wanted us to look into complaints, and this was one of the ma ...Read More >
New Delhi: The CBI has succeeded in facilitating the return of 134 fugitives from abroad in the last five years -- nearly twice the number of repatriated persons over an entire decade between 2010 and 2019, officials said. Coordinating closely with Interpol as well as state and central enforcement agencies, the CBI was able to secure the extradition or deportation of these 134 fugitives since 2020. Of these, 23 were brought back this year alone. In contrast, only 74 fugitives were brought back ...Read More >
New Delhi, Jul 15 (PTI) State-run telecom firm MTNL has defaulted on bank loans worth Rs 8,585 crore from seven public sector banks, the company said in a regulatory filing on Tuesday. The loss-making public sector telecom firm's total debt obligations reached Rs 34,484 crore as on June 30, 2025 comprising bank loan of Rs 8,585 crore, sovereign guarantee bond Rs 24,071 crore and loan for DoT for paying Sovereign Guarantee Bond interest Rs 1,828 crore, according to the filing. Also Read | Gemin ...Read More >
New Delhi, Jul 15 (PTI) State-run telecom firm MTNL has defaulted on bank loans worth Rs 8,585 crore from seven public sector banks, the company said in a regulatory filing on Tuesday. The loss-making public sector telecom firm's total debt obligations reached Rs 34,484 crore as on June 30, 2025 comprising bank loan of Rs 8,585 crore, sovereign guarantee bond Rs 24,071 crore and loan for DoT for paying Sovereign Guarantee Bond interest Rs 1,828 crore, according to the filing. The total loan de ...Read More >
Shimla, Jul 14 (PTI) Ten months old Neetika, who lost her parents in the flash floods triggered by the recent cloudburst in Mandi district, will now be raised by her father's younger sister. The infant was orphaned after a cloudburst struck Talwara village of Parwara panchayat in Mandi district on the intervening night of June 30 and July 1. Her father Ramesh (31) died, while her mother Radha Devi (24) and grandmother Purnu Devi (59) are still missing. On the tragic night, Ramesh had stepped o ...Read More >
Shimla, Jul 14 (PTI) Ten months old Neetika, who lost her parents in the flash floods triggered by the recent cloudburst in Mandi district, will now be raised by her father's younger sister. The infant was orphaned after a cloudburst struck Talwara village of Parwara panchayat in Mandi district on the intervening night of June 30 and July 1. Her father Ramesh (31) died, while her mother Radha Devi (24) and grandmother Purnu Devi (59) are still missing. Also Read | S Jaishankar on 3-Day China V ...Read More >
Mumbai: Bernstein initiated coverage on housing finance companies in the affordable segment and assigned an 'Outperform' ratings to HomeFirst Finance, Aptus, and Aadhar; and 'Market-Perform' ratings to Aavas and PNB Housing Finance. The brokerage said around 60% of the labour force has access to credit and mortgages are likely to drive the next leg of growth given the low mortgage penetration. "We expect affordable mortgages (ticket size Affordable housing space remains attractive with over 3 ...Read More >
New Delhi: Good news for bank customers! Several major public sector banks in India have scrapped the requirement to maintain an Average Monthly Balance (AMB) in savings accounts. This move comes as a big relief for account holders, especially those struggling to meet the minimum balance rules. Average Monthly Balance (AMB) is the average amount you need to keep in your savings or current account every month. Banks calculate this at the end of each month. If your balance falls below the require ...Read More >
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