OmniCard became the 1st RBI licensed PPI to launch cash withdrawal using a RuPay-powered card from any ATMs across the country. The move came in after RBI permitted the non-bank licensed entities to enable cash withdrawals from the digital wallets.  OmniCard users ...

Suryoday Small Finance Bank, one of India’s premier small finance banks, has established a cooperation with Mobisafar to provide banking services across India through all of Mobisafar’s franchises and Business Correspondent network. The cooperation aims to increase financial ...

Airtel Payments Bank has partnered with Muthoot Finance to offer gold loans through Airtel Thanks app. There will be no-processing charge on the loan. Muthoot Finance will provide up to 75% of the pledged gold value as a loan. The loan facility will be ...

The Reserve Bank of India (RBI) has released the provisioning guidelines for outstanding loans extended by 'NBFC-Upper Layer'. These guidelines shall be effective from October 1, 2022. Individual housing loans and loans to Small and Micro Enterprises (SMEs): 0.25%. ...

The National Assets Reconstruction Company Ltd (NARCL) on Tuesday said it on-boarded former State Bank of India (SBI) official Natarajan Sundar as its managing director and chief executive on 30 May. Sundar is a banking veteran having served SBI for over 37 years and retired as Dy MD and Chief ...

Public sector banks (PSBs) more than quadrupled their net profit in the fiscal year 2021-2022. During the financial year 2021-22, the aggregate profit of 12 state-owned banks was Rs 66,539 crore, up 110 percent from Rs 31,816 crore in the previous year. For the first time ...

SBI’s research report Ecowrap, in its latest edition has projected India’s Gross Domestic Product (GDP) growth at 8.2 to 8.5 per cent for FY22. For Q4FY22, the SBI research report expects growth of 2.7 per cent. Early trend of Q4FY22 results for corporates, in the listed space, Sectors like ...

MUFG Bank becomes the first Japanese bank to open a branch at Gujarat International Financial Tech City (GIFT City) in a bid to offer a wide range of banking services to both domestic and global clients. MUFG Bank has already taken all necessary approvals from ...

Bank of Baroda Financial and Hindustan Petroleum (HPCL) in partnership with National Payments Corporation of India (NPCI), have launched HPCL BoB co-branded contactless RuPay Credit Card. The card includes various features such as rewards for spending on utilities, grocery ...

The Reserve Bank of India (RBI) has issued norms for facilitating physical import of gold through India International Bullion Exchange IFSC (IIBX) or similar authorised exchange by Qualified Jewellers in India. As per the guidelines, banks may allow Qualified ...