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Articles for Banking & Finance

RBI Suspends Rs 2,000 Note Exchange & Deposit Services On 1 April

The RBI has been accepting Rs 2000 notes from individuals and entities for deposit into their bank accounts since October of the previous year

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Bank Of India Faces Rs 564 Cr Income Tax Penalty

The bank stated that it is in the process of appealing the decision before the Commissioner of Income Tax, National Faceless Appeal Centre (NFAC)

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Sumant Rampal Assumes Leadership Of HDFC Bank's Mortgage Division

Rampal has been with HDFC Bank for more than 24 years

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ICICI Securities Delisting Approved Amidst Institutional Support

Despite the retail opposition, institutional support played a decisive role in the approval of ICICI Securities' delisting, underscoring the complexities and dynamics at play in corporate restructuring processes

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Interest Rate On Small Saving Schemes Kept Unchanged For Q1 FY25

An official notification has been put out by the Department of Economic Affairs under Ministry of Finance

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Muthoot Microfin Raises $75 Mn Via External Commercial Borrowing

Standard Chartered Bank solely arranges the deal also acting as Social Loan Coordinator

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ICICI Lombard Claims Response Time Decreased Tenfold Following Adoption Of AI-ML, IoT

Highlights AI-ML led key product features that ease the customers’ insurance experience

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Proportionate Provisioning Embraced, But Equity Share Stance Unclear: Experts On RBI’s AIF Regulation

Also, the banking regulator has said that the 100 per cent provisioning which was required to be made by the RE shall be required only to the extent of investment by the RE in the AIF scheme which is further invested by the AIF in the debtor company, and not on the entire investment of the RE in the AIF scheme

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