Page 48 - Latest Updates on Reserve Bank of India
February repo rate cut: Deposits rates inch up, lending rates fall
The weighted average domestic term deposit rate (WADTDR) on fresh rupee term deposits of scheduled commercial banks stood at 6.65 per cent in March 2025
 "February repo rate cut: Deposits rates inch up, lending rates fall")
ATM withdrawals to cost more after free limit from May 1
From May 1, ATM withdrawals beyond free limits will cost ₹23 per transaction, as RBI hikes the cap on bank charges.
 "ATM withdrawals to cost more after free limit from May 1")
List of bank holidays in May 2025: Check before planning a branch visit
Holidays in several states will see banks closed on some days, though ATMs and online services will be available
 "List of bank holidays in May 2025: Check before planning a branch visit")
RBI approves interim leadership team after IndusInd CEO Kathpalia quits
IndusInd Bank CEO Sumant Kathpalia resigned after audit firm Grant Thornton found nearly ₹2,000 crore in losses related to the bank's derivatives portfolio
 "RBI approves interim leadership team after IndusInd CEO Kathpalia quits")
Bank holidays 2025: Are banks open on May 1st? Check the state-wise list
In celebration of Labour Day and Maharashtra Day, Indian stock markets, banks, and schools will all be closed on May 1, 2025. Workers' contributions are honoured on this official holiday
 "Bank holidays 2025: Are banks open on May 1st? Check the state-wise list")
RBI has room for more rate cuts, but with caution, says rate panel member
Going forward, continuing policy easing - both rate cuts and liquidity infusions - could eventually alter the growth-inflation
 "RBI has room for more rate cuts, but with caution, says rate panel member")
Bank holidays in May 2025: 12-day state-wise schedule and key dates
In May 2025, banks are scheduled to remain shut for 12 days due to state-wise regional and national holidays. Check complete list here
IndusInd Bank up for 5th straight day; gains 41% from March low, here's why
Arun Khurana, deputy CEO of IndusInd Bank, has resigned with immediate effect, taking responsibility for the ₹1,960 crore losses due to incorrect accounting of internal derivative trades.
 "IndusInd Bank up for 5th straight day; gains 41% from March low, here's why")
Rupee rallies to under 85 vs dollar intraday on strong equity inflows
RBI to conduct OMO to purchase Gsec worth ₹1.25 trillion
 "Rupee rallies to under 85 vs dollar intraday on strong equity inflows")
Norms on forwards likely to boost demand for 10-15-year state bonds
The yield spread between 10-year state bonds and the benchmark 10-year government bond stood at 29 basis points
 "Norms on forwards likely to boost demand for 10-15-year state bonds")
IndusInd Bank's deputy CEO Arun Khurana resigns amid accounting blunder
Based on the findings of an external agency's probe, IndusInd has estimated an impact of 2.27% on its net worth as of December 2024
 "IndusInd Bank's deputy CEO Arun Khurana resigns amid accounting blunder")
RBI ask banks to ensure ATMs dispense Rs 100, Rs 200 notes
Banks and White Label ATM Operators (WLAOs) have to implement the direction in a phased manner
 "RBI ask banks to ensure ATMs dispense Rs 100, Rs 200 notes")
Inherent risks in sustainable finance drive up lending costs: RBI's Rao
He noted that this prompts private sector investors and lenders to seek appropriate de-risking mechanisms
 "Inherent risks in sustainable finance drive up lending costs: RBI's Rao")
L&T Finance to increase commercial paper issuance amid softening rates
L&T Finance Ltd's total liabilities stood at Rs 92,247 crore in March 2025 as against Rs 86,161 crore in December 2024 and Rs 76,541 crore in March 2024
 "L&T Finance to increase commercial paper issuance amid softening rates")
Banks set to meet investment needs of India Inc: RBI Guv Sanjay Malhotra
RBI governor says rupee's orderly movement reflects strong macro fundamentals
 "Banks set to meet investment needs of India Inc: RBI Guv Sanjay Malhotra")
Debt mutual funds find their mother lode after mining market depths
Strike a rich vein after a tough three-year haul of ₹2.8 trillion in outflows
 "Debt mutual funds find their mother lode after mining market depths")
Stance change means possibilities of more rate cuts: MPC's Nagesh Kumar
Kumar says that the impact of reciprocal tariffs imposed by the United States (US) is mixed and there is fiscal space to support public expenditure
 "Stance change means possibilities of more rate cuts: MPC's Nagesh Kumar")
India's foreign exchange reserves rise by $8 billion to six-month high
The reserves had hit a record high of $705 billion in September 2024
 "India's foreign exchange reserves rise by $8 billion to six-month high")
RBI imposes penalty on Indian Bank, Mahindra & Mahindra Financial Services
The Reserve Bank of India (RBI) on Friday said it has imposed penalties on Indian Bank and Mahindra & Mahindra Financial Services for certain deficiencies in regulatory compliance.
 "RBI imposes penalty on Indian Bank, Mahindra & Mahindra Financial Services")
RBI cancels licence of Imperial Urban Co-op Bank over inadequate liquidity
The Registrar of Cooperative Societies, Government of Punjab has also been requested to issue an order for winding up of the bank