Canara Bank became India’s first public sector bank to meet RBI’s EMV mandate

Global provider of real-time electronic payment and banking solutions, ACI Worldwide, notified that India’s public sector bank, Canara Bank has successfully rolled out new functionality that supports EMV (Europay,...

RBI issued Rs 50 banknotes signed by Governor Shaktikanta Das

The Reserve Bank of India (RBI) on April 17, 2019 issued Rs 50 denomination banknotes signed by the Governor Shaktikanta Das. The design of these notes is similar in...

HDFC Bank topped Forbes best Indian Banks 2019 List

Forbes has compiled a first-ever list of the World's Best Bank 2019 in terms of customer services and technological advancements. Indian private lender- HDFC Bank was ranked at the...

RBI granted 12 years to LIC for reducing stake in IDBI Bank

Life Insurance Corporation(LIC), the largest insurance company in India, got 12 years from RBI for cut down stake in IDBI Bank.LIC is the lender’s major shareholder, and it has...

HDFC AMC ranked 1st in terms of Assets: AMFI Report

India’s asset management companies (AMCs) own assets under management (AUM) worth Rs24.46 trillion, according to data released by the Association of Mutual Funds in India (Amfi). HDFC Asset Management...

RBI’s norms for banks to set up currency chests

The Reserve Bank of India (RBI) issued “Minimum Standards for a Currency Chest”, the guidelines for banks to set up new currency chests. The Currency Chests are part of...

RBI cuts Repo Rate to 6%

The Reserve Bank of India (RBI) released its First Bi-monthly Monetary Policy Statement 2019-20. The Monetary Policy Committee also decided to maintain the neutral monetary policy stance. The MPC...

RBI sets the limits for Ways and Means Advances (WMA)

The Reserve Bank of India (RBI) in consultation with the government of India has set the limits for Ways and Means Advances (WMA) for the first half of the...

BOB Became 3rd Largest Bank As Dena, Vijaya Merger take Effect

The amalgamation of Vijaya Bank and Dena Bank into the Bank of Baroda (BoB) has come into effect and all branches of the former two will function as branches...

RBI to issue guidelines for setting up of a Regulatory Sandbox

The Reserve Bank of India (RBI) will be issuing guidelines within two months for the fintech companies to test their new products on a small group of users before...

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