Page 28 - Banking

RBI direct banks to switch to '.bank.in' domain by Oct to boost security

All banks have been advised to commence the migration of their existing domains to the '.bank.in' domain and complete the process at the earliest

RBI allows minors above 10 years to open bank accounts independently

Minors of any age can open and operate savings and term deposit accounts through their natural or legal guardian

Banks reduce savings account interest rates to protect profitability

Recently, HDFC Bank, ICICI Bank, Axis Bank and Federal Bank announced nearly 25 basis points revision in their savings account interest rates

RBI mandates 2.5% additional run-off factor on digital retail deposits

Effective April 1, 2026, the final norms could help free up lendable resources by almost ₹3 trillion estimates ICRA

RBI directs banks to increase run-off rates for digital deposits

The net impact of these measures will improve banks' liquidity coverage ratio as on December-end by around 6 percentage points, the Reserve Bank of India said in a release

Ensure liquidity measures transmitted to broader market: RBI Guv to banks

RBI Governor also called banks and primary dealers for their active roles to improve liquidity and pricing for participants like cooperative banks, pension and provident funds with smaller deal sizes

Lenders saw muted demand across sectors in the 2024 festive season

The leading contributing factors were the lack of softened interest rates, increase in risk weights on unsecured loans, and broader macroeconomic challenges

FinMin to hold high-level talks on 'One State, One RRB' execution on May 6

On April 7, the Union government released a gazette notification announcing the amalgamation of several RRBs, effective from May 1, 2025

UPI outages: NPCI, banks working on durable solution to plug gaps

The current challenge stems from the extremely high frequency of transaction status API calls

RBI cancels licence of Ahmedabad-based Colour Merchants Co-op Bank

RBI further said as per the data submitted by the co-operative bank, about 98.51 per cent of the depositors are entitled to receive full amount of their deposits from DICGC

ICICI Bank joins top peers, cuts rate for savings accounts by 25 bps

Savings account balances of up to Rs 50 lakh will now earn an interest rate of 2.75%: ICICI

ICICI Bank slashes savings account deposit interest rate by 0.25%

The second largest private sector bank's move comes days after larger rival HDFC Bank announced similar move amid a spate of cuts in deposit offerings

External audit agency uncovers Rs 1,979 crore impact on IndusInd Bank

The bank said it received the report from the external agency on April 15

NPCI meets banks, UPI apps to discuss recent outages on the platform

Sources also said that NPCI informed banks that it will be sharing a detailed to-do list, outlining specific actions that need to be implemented to strengthen the UPI ecosystem

Axis Bank cuts savings deposit rate by 25 basis points, effective April 15

HDFC Bank had earlier revised savings deposit rates by 25 bps; ICICI Bank yet to cut savings deposit rates

Deposit interest rate cuts likely to be moderate in current cycle

Elevated credit-deposit ratio, LCR norms may weigh on banks' decision

SBI cuts lending rates by 25 bps after RBI's move; loans to get cheaper

The rate reduction is in response to last week's RBI slashing key interest rate by 25 basis points for the second time in a row to support growth facing the threat of reciprocal tariffs by the US

Bank of Maharashtra cuts repo-linked lending rate by 25 bps to 8.80%

The reduced rates will make loans more affordable and enhance the financial well-being of its customers

IPL betting boom strains Indian banks as UPI handles trillions in flows

The frenzy of real-time IPL betting is testing the limits of India's UPI network, as banks struggle to manage surging digital transactions and prevent payment failures

Clients are in risk-management mode, says Citigroup's Jason Rekate

Rekate talks on uncertainties due to global tariff wars, how Indian companies are navigating these challenges, and why India continues to be an important market for the American lender