Cabinet decides to bring over 1,500 cooperative banks under RBI’s purview through ordinance

Union minister Prakash Javadekar said this would ensure that savings amounting to Rs 4.84 lakh crore of more than 8.6 crore depositors is safe.

Scroll Staff

· Jun 24, 2020 · 04:29 pm

RBI cancels licence of CKP Cooperative Bank, cites its ‘adverse, unsustainable’ financial position

The central bank said that CKP Cooperative Bank has no revival plan or a plan for a merger with another bank.

Scroll Staff

· May 03, 2020 · 01:23 pm

SBI waives need to maintain minimum balance, cuts interest rate on all savings accounts to 3%

Earlier in the day, SBI reduced its fixed deposit rates and marginal cost of funds-based lending rates on various tenors.

Scroll Staff

· Mar 11, 2020 · 09:46 pm

After pulling out of the food business, Uber’s latest India adventure is likely to be in fintech

Payments are an obvious and lucrative add-on for taxi aggregators around the world.

Ananya Bhattacharya, qz.com

· Feb 16, 2020 · 08:30 pm

RBI given power to regulate cooperative banks as Centre approves changes to banking laws

Union minister Prakash Javadekar said the changes would help strengthen financial stability.

Scroll Staff

· Feb 05, 2020 · 07:43 pm

Indian government’s insolvency code for NBFCs raises more questions than it answers

The crisis-hit DHFL, which will be the first to undergo insolvency proceedings, will be a litmus test for the new law.

Sangeeta Tanwar, qz.com

· Dec 02, 2019 · 09:30 pm

PMC case: Money laundering case against bank’s board members, top HDIL officials; ED conducts raids

The money laundering case was filed on the basis of the Economic Offences Wing’s first information report filed earlier this week.

Scroll Staff

· Oct 04, 2019 · 11:41 am

PMC Bank: RBI again increases withdrawal limit from Rs 10,000 to Rs 25,000

The central bank said the new relaxation will allow 70% of the customers of PMC bank to withdraw their entire account balance.

Scroll Staff

· Oct 03, 2019 · 09:48 pm

Online banking operations of some private lenders not working, users complain on social media

The Reserve Bank of India said in a tweet that the Indian banking system is safe and secure.

Scroll Staff

· Oct 01, 2019 · 05:38 pm

PMC Bank: Case filed against top executives, lender estimated to have lost Rs 4,300 crore

The Mumbai Police have also named officials from realty developer HDIL. They are accused of misleading the RBI for over a decade by producing forged audits.

Scroll Staff

· Oct 01, 2019 · 08:04 am

RBI increases withdrawal limit of PMC Bank customers from Rs 1,000 to Rs 10,000

The RBI earlier this week imposed restrictions on the cooperative bank and said it would not be allowed to grant or renew any loans and advances.

Scroll Staff

· Sep 26, 2019 · 04:39 pm

RBI denies rumours of closure of several public sector banks, calls them false

The RBI had on Tuesday imposed a Rs 1,000 withdrawal cap on customers of the Mumbai-based Punjab and Maharashtra Cooperative Bank for six months.

Scroll Staff

· Sep 26, 2019 · 09:07 am