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Customers of metro and urban branches must maintain a minimum average balance of Rs 50,000 under the new structure — up from the earlier limit of Rs 10,000
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Banks regularly ask customers to update their KYC as per RBI guidelines, which categorise accounts by risk level. Union Bank of India has launched a mega campaign across Telangana, offering multiple modes—online and offline—to help customers update their KYC seamlessly
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Three names emerge as frontrunners for the top post; IndusInd Bank set to submit CEO shortlist to RBI amid leadership crisis
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According to reports, the Reserve Bank of India has raised concerns following alleged sales by Standard Chartered to small and medium-sized enterprises of target redemption forwards, ‘a product that can cause significant losses’
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The RBI allows a single foreign institution to hold 15 per cent in a lender and has made some exceptions like that of CSB Bank, and, recently, Japan’s SMBC
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In a major relief to various sections of customers including salaried class and senior citizens, Canara Bank has waived imposition of average monthly balance requirement for savings bank accounts
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Reserve Bank of India exploring commencement of central bank digital currency pilots on cross-border payments
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In October 2018, RBI had released its ‘Dissent Note’ against having a regulator for payment systems outside the central bank
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The Reserve Bank of India had transferred Rs 2.1 lakh crore dividend to the government for the fiscal 2023-24. It was Rs 87,416 crore for 2022-23
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Accounting fraud plunges IndusInd Bank into a Rs 2,329-crore loss for the January-March quarter
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During a post-earnings call, IndusInd Bank’s board said it suspects certain employees involved in financial reporting and accounting may have committed fraud
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India’s biggest lender had earned a profit of Rs 20,698 crore in the January-March period of 2023-24
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Poonam Gupta, who assumed charge recently as Deputy Governor, gets monetary policy department
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Bank’s Deputy CEO Arun Khurana had tendered his resignation on Monday in the wake of accounting lapses costing Rs 1,960 crore to the private lender
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The private sector lender had informed that a bank-appointed external auditor has determined a cumulative adverse accounting impact on P&L at Rs 1,959.98 crore as on March 31, which is similar to the amount disclosed on April 15
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The Appointments Committee of the Cabinet has approved the re-appointment of Rabi Sankar for a period of one year with effect from May 3, 2025, or until further orders
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The RBI Governor’s remarks came at a media briefing on being asked if more interest rate cuts are in the offing
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The post of the Deputy Governor of RBI fell vacant after M D Patra demitted office in January.
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Speaking at the closing ceremony of the commemoration of 90th year of Reserve Bank of India, President Murmu lauds RBI for taking proactive measures to strengthen and safeguard a secure banking environment