Banks

SC asks RBI to ensure banks, NBFCs seize financed vehicle lawfully

Highlighting RBI's directive that a financed vehicle can be seized only through "lawful means", the Supreme Court on Wednesday directed the federal bank to enforce its guidelines on non-banking financial companies and scheduled commercial banks to ensure that borrowers are not dispossessed of their hypothecated vehicles without due process of law. The top court's direction came in a judgement in which it ordered Cholamandalam Investment and Finance Company Ltd to close the loan accounts of a truck owner, and refund Rs 4.5 lakh realised from the sale of his vehicle with six per cent annual interest. It also asked the finance firm to pay Rs 10 lakh compensation for mental agony and loss of livelihood caused by the unauthorised repossession of his vehicle. A bench of justices PS Narasimha and Alok Aradhe held that financial institutions cannot use force, stealth or arbitrary methods to recover loans, even when borrowers have defaulted on repayment. Justice Narasimha, writing the ...

Govt paves way for banks to levy charges on UPI payments above ₹2,000

MDR is the fee that merchants pay to banks and payment service providers for processing digital payment transactions

IBBI wants debt resolution professionals to guard against IBC abuse

IBBI directs Insolvency Professionals to conduct due diligence and report misuse of the IBC framework following a disciplinary crackdown on non-compliant administrators

HDFC Bank says Bahrain court rejects all seven Credit Suisse AT1 claims

Bahrain High Civil Court rejected two investor cases on September 9 after five similar matters were dismissed in July and August, according to HDFC Bank

Home affordability: How to assess your true purchasing capacity?

Work backwards from an affordable EMI, make a bigger down payment than banks require, and stress-test loans against rising interest rates

Banks expect up to 50 bps reduction in funding costs on liquidity surge

Robust FCNR(B) inflows are reducing banks' reliance on higher-cost certificates of deposit, while supporting credit expansion and improving liquidity coverage ratios

GIFT-IFSC banks sanction $54 billion under RBI's FCNR(B) swap facility

Twenty international banking units sanctioned $54.02 billion and disbursed $52.82 billion under the facility by August-end, according to IFSCA data

Banks' microfinance share falls as NBFC-MFIs drive sector recovery: MFIN

Banks' microfinance portfolio fell 28.5 per cent year-on-year as loan reclassification weighed on reported numbers, while NBFC-MFIs expanded their portfolio

Battle to build $116 billion global defence bank faces major hurdles

Canada-backed DSRB aims to raise $116 billion to finance defence projects, but limited commitments from major economies threaten its funding and credit-rating ambitions

Commercial sector funding more than doubles to ₹10.65 trn in April-July

Non-food bank credit jumped to ₹6.69 trillion from ₹0.73 trillion a year earlier, while total outstanding credit from bank and non-bank sources rose 17.4 per cent by July-end

Banks, NBFCs to reset partnership terms with fintech firms

RBI's draft data governance norms and DPDP rules are pushing banks and NBFCs to reassess fintech partnerships, contracts and third-party data risks

Bank holiday today: Banks closed in these states on Eid-e-Milad-un-Nabi

According to the Reserve Bank of India's holiday calendar, August 26 is a bank holiday at several RBI centres under the Negotiable Instruments Act.

Govt to set up high-level banking committee soon: FM Nirmala Sitharaman

Deliberations at PSB Confluence to act as template for panel

Govt to soon constitute panel on 'Banking for Viksit Bharat': Sitharaman

Finance Minister Nirmala Sitharaman on Monday said the government would soon constitute a high-level panel on 'Banking for Viksit Bharat'. In this year's Budget, the Finance Minister had proposed a high-level committee on 'Banking for Viksit Bharat', to comprehensively review the sector and align it with India's next phase of growth. Addressing the two-day PSB Confluence here, Sitharaman said, "We expect the announcement of the high-powered committee to look into the banking sector... soon the committee will be announced." She said the committee would give its thoughts and recommendations to the government. "I propose setting up a 'High Level Committee on Banking for Viksit Bharat' to comprehensively review the sector and align it with India's next phase of growth, while safeguarding financial stability, inclusion and consumer protection," she had said in the Budget speech on February 1, 2026.

Banks race for dollar deposits as RBI curtails FCNR (B) swap window

Despite early closure, experts expect total inflow of $60-70 bn by Aug-end

Banks seek more from ATMs as non-cash services remain largely unused

ATMs offer fund transfers, bill payments and several other services beyond cash, but low awareness and the rise of mobile banking have left much of this capacity underused

CBDC, ULI adoption gains pace as RBI expands use cases: Rohit Jain

RBI says CBDC and ULI adoption is accelerating as live transactions expand, with new use cases, more lenders and wider state participation driving growth

RBI keeps repo rate unchanged at 5.25%: What it means for your home loan | RBI MPC Outcome

The RBI has kept the repo rate unchanged at 5.25%, meaning there’s no immediate relief—or burden—for home loan borrowers. So, what does this mean for your EMI? Will banks reduce lending rates?

The knives are out for the world's oldest bank as takeover battle heats up

The world's oldest bank faces a high-stakes takeover battle as consolidation reshapes Italy's banking sector and tests Monte dei Paschi's independence

Govt approves RBI plan to issue ₹10, ₹20 polymer banknotes: Why is the RBI testing polymer notes?

The government has approved the Reserve Bank of India's plan to issue 1 billion each of ₹10 and ₹20 polymer banknotes for field trials. If successful, these notes could be issued regularly.