PSBs may remove min balance fines
Following finance ministry concerns over declining low-cost deposits, several public sector banks, including Canara Bank and Punjab National Bank, are scrapping minimum balance penalties on ...
‘Speed up unclaimed deposit refunds’: FM Nirmala Sitharaman asks RBI, Sebi to standardise KYC
FM Nirmala Sitharaman urged financial regulators to expedite the return of unclaimed assets from banks, insurers, and mutual funds. The focus is on simplifying asset ...
Big progress on poverty reduction! India’s poverty rate to come down further in 2024; SBI projects 4.6%
India is making great progress in reducing poverty. A recent State Bank of India report projects poverty to fall to 4.6 percent in 2024. World ...
Non-bank lender stocks surge after RBI policy announcement and relaxed norms boost sector outlook
Following the RBI’s policy announcement, NBFC and small finance bank stocks surged due to reduced risk weights on retail loans for well-capitalized NBFCs and dovish ...
RBI eases gold loan ‘value’ norms for small borrowers
RBI has introduced revised guidelines for gold and silver-backed loans, effective April 1, 2026, aiming to boost credit access for small borrowers. The loan-to-value ratio ...
‘No penalty on non-maintenance’: Canara Bank waives minimum balance rule on all savings accounts
Canara Bank is set to eliminate minimum balance requirements for all savings accounts starting June 1, 2025, benefiting a wide range of customers. This move, ...
Higher loans, credit cards coming street vendors’ way
The revamped PM SVANidhi scheme is set to offer street vendors higher subsidised loans and credit cards with a Rs 30,000 limit, thanks to bank ...
