RBI Doubles Payments Bank Balance Limit To Rs 2 Lakh. Know What It Means For Customers
3 years, 9 months ago

RBI Doubles Payments Bank Balance Limit To Rs 2 Lakh. Know What It Means For Customers

ABP News  

In major push to payments banks, the Reserve Bank of India went ahead and raised the maximum balance at the end of the day to Rs 2 lakh per customer soon after the governor Shaktikanta Das announced the decision to enhance the limit. The decision to increase the limit of maximum balance at the end of the day from Rs 1 lakh to 2 lakh per individual customer of PBs is aimed at furthering financial inclusion and offering more flexibility to the PBs, according to the apex body. Previously, the payments banks can hold a maximum balance of Rs 1 lakh per individual customer at the end of the day. Major players in the space include Paytm Payments Bank, India Post Payments Bank, Airtel Payments Bank, Fino Payments Bank, Jio Payments Bank and NSDL Payments Bank.

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History of this topic

PSU banks to cross ₹1.5 lakh cr profit in FY’25, low deposit mobilisation concern
1 week, 6 days ago

PSU banks to cross ₹1.5 lakh cr profit in FY’25, low deposit mobilisation concern

Live Mint  

New Delhi, Dec 27 Low NPAs and double-digit credit growth are expected to drive profits of public sector banks past the ₹1.5 lakh crore milestone in 2024-25. Public lenders recorded their highest-ever aggregate net profit of ₹1.41 lakh crore in 2023-24 on the back of significant improvement in asset quality, credit growth, healthy capital adequacy ratio and rising return on …

Fixed deposit interest rates across banks: See list of FD rates up to 7.4%
1 week, 6 days ago

Fixed deposit interest rates across banks: See list of FD rates up to 7.4%

Hindustan Times  

A series of both private and public banks are offering interest rates between 6.80 and 7.40% on fixed deposits of amounts less than ₹3 crore and for a tenure of five years. This interest is calculated at quarterly compounding intervals on Term Deposits and paid at the rate decided by the bank depending upon the period of deposits. Bank name …

FD rates soar: Earn up to 7.4% with DCB, IndusInd, YES, Axis and other top banks
2 weeks ago

FD rates soar: Earn up to 7.4% with DCB, IndusInd, YES, Axis and other top banks

India Today  

Fixed deposits remain a go-to choice for Indian investors seeking stability and guaranteed returns. Amid rising interest rates, both private and government banks are offering appealing rates for general citizens on deposits under Rs 3 crore, particularly for five-year tenures. TOP BANKS OFFERING COMPETITIVE RATES For five-year fixed deposits, private and government banks are offering competitive interest rates: DCB Bank …

Fixed Deposits for senior citizens: Public, private banks providing higher interest in December
2 weeks, 3 days ago

Fixed Deposits for senior citizens: Public, private banks providing higher interest in December

India TV News  

Fix deposit is among the most trusted investment policies for long terms. Most popular among the elder generations, the deposits are most secure and easily manageable through banks and post offices. Although the interest rates in fixed deposits have lowered in the past decade there are schemes offered by both the public sector and private banks which offer a handsome …

RBI fines IndusInd Bank ₹27 lakh over non-compliance
2 weeks, 5 days ago

RBI fines IndusInd Bank ₹27 lakh over non-compliance

Live Mint  

The Reserve Bank of India imposes a penalty of ₹27 lakh on IndusInd Bank for not complying with norms. “The Reserve Bank of India has, by an order dated December 18, 2024, imposed a monetary penalty of ₹27.30 lakh on IndusInd Bank Ltd. for non-compliance with certain provisions of ‘Reserve Bank of India Directions, 2016’,”the central bank said in statement …

RBI hikes rate ceilings on banks FCNR deposits to support foreign flows
1 month ago

RBI hikes rate ceilings on banks FCNR deposits to support foreign flows

Live Mint  

The Reserve Bank of India’s decision to increase the interest rate ceilings on foreign currency non-resident account, or FCNR, deposits is aimed at supporting foreign inflows into the country as the domestic currency battles devaluation pressures against the US dollar. Earlier, rates on FCNR deposits were subject to ceilings of overnight ARR for the respective currency/swap, plus 250 bps for …

RBI keeps repo rate unchanged at 6.5%; Inflation, GDP growth forecast for FY25 retained
5 months ago

RBI keeps repo rate unchanged at 6.5%; Inflation, GDP growth forecast for FY25 retained

Hindustan Times  

The Reserve Bank of India has decided to keep the repo rate unchanged at 6.5% for the ninth time in a row, RBI Governor Shaktikanta Das announced on Thursday, August 8, 2024. "The Monetary Policy Committee decided by a 4:2 majority to keep the policy repo rate unchanged at 6.5%. The RBI governor said that food prices are likely to …

Paytm Payments Bank crisis: RBI issues 30 FAQs after crackdown
10 months, 3 weeks ago

Paytm Payments Bank crisis: RBI issues 30 FAQs after crackdown

Hindustan Times  

The Reserve Bank of India, soon after extending the deadline to halt operations, issued a list of frequently asked questions for Paytm Payments Bank account holders. After March 15, 2024, you will not be able to deposit money into your account with Paytm Payments Bank. After March 15, 2024, you will not be able to receive any such credits into …

RBI gives 15 days relaxation to Paytm Payments bank, says Paytm QR, soundbox, POS will continue to work
10 months, 3 weeks ago

RBI gives 15 days relaxation to Paytm Payments bank, says Paytm QR, soundbox, POS will continue to work

Op India  

The Reserve Bank of India on Friday gave a 15 day relaxation to Paytm payments bank on accepting deposits. However, no fresh deposits with partner banks through Paytm Payments Bank will be allowed after March 15, 2024. Merchants using Paytm Payments Bank to receive payments using a Paytm QR code, Paytm soundbox or Paytm POS terminal, linked to another bank …

Why Did Paytm Shares Tank Another 20% Today? Know Details of RBI's Action Against Paytm Payments Bank
11 months, 1 week ago

Why Did Paytm Shares Tank Another 20% Today? Know Details of RBI's Action Against Paytm Payments Bank

News 18  

Shares of One97 Communications Ltd, which owns Paytm brand, on Friday plummetted another 20 per cent. The decline comes as the RBI has directed Paytm Payments Bank Ltd to stop accepting deposits or top-ups in any customer accounts, wallets, FASTags and other instruments after February 29. Fintech firm Paytm sees an impact of Rs 300-500 crore on its annual operational …

Paytm Payments Bank: A look at previous RBI actions against Paytm subsidiary
11 months, 1 week ago

Paytm Payments Bank: A look at previous RBI actions against Paytm subsidiary

Hindustan Times  

Paytm Payments Bank, a wholly-owned subsidiary of fintech major Paytm, has been barred by the Reserve Bank of India from accepting deposits or top-ups in any customer account, prepaid instruments, wallets, and FASTags, and more, after February 29. Representative Image However, this is not for the first time that Paytm Payments Bank, launched in November 2017, finds itself in trouble. …

Paytm shares: How will RBI's action on Paytm Payments Bank impact stock
11 months, 1 week ago

Paytm shares: How will RBI's action on Paytm Payments Bank impact stock

Hindustan Times  

Shares of Indian payments firm Paytm are set to open lower on Thursday, after a move by the country's financial regulator to halt business at Paytm's payments bank unit sparked fears of hits to the company's profitability and reputation. FILE PHOTO: RBI banned Paytm Payments Bank from accepting new deposits starting in March. The Reserve Bank of India on Wednesday …

RBI Bars Paytm Bank from Offering Banking Services After February 29
11 months, 1 week ago

RBI Bars Paytm Bank from Offering Banking Services After February 29

Deccan Chronicle  

Mumbai: The Reserve Bank of India on Wednesday banned Paytm Payments Bank Ltd from offering all forms of banking services including fund transfers via Unified Payments Interface, IMPS, Aadhaar-enabled payments and bill payment transactions, effective February 29, 2024. However Paytm customers need not worry as they can continue to utilise balances from their accounts, including savings and current without restriction …

Are you a Paytm Payments Bank customer? Check how RBI action impacts you
11 months, 1 week ago

Are you a Paytm Payments Bank customer? Check how RBI action impacts you

Hindustan Times  

The Reserve Bank of India on Wednesday imposed stringent restrictions on the operations of Paytm Payments Bank Ltd due to supervisory concerns. The central bank restricted Paytm Payments Bank Ltd from fresh deposits and credit transactions across its services. The regulatory action follows an initial directive dated March 11, 2022, wherein the RBI directed Paytm Payments Bank to halt the …

RBI bars Paytm Payments Bank from accepting deposits after Feb 29
11 months, 1 week ago

RBI bars Paytm Payments Bank from accepting deposits after Feb 29

Hindustan Times  

The Reserve Bank of India on Wednesday barred Paytm Payments Bank from accepting deposits or top-ups in any customer account, prepaid instruments, wallets, and FASTags, among others after February 29, 2024. “The Comprehensive System Audit report and subsequent compliance validation report of the external auditors revealed persistent non-compliances and continued material supervisory concerns in the bank, warranting further supervisory action,” …

Deposits in TS banks rise by Rs 52,153 crore
1 year ago

Deposits in TS banks rise by Rs 52,153 crore

Deccan Chronicle  

Hyderabad: Total deposits in banks in Telangana state grew by Rs 52,153 crore during the first half of this fiscal, totalling Rs 735,159.54 crore. During April-September, banks disbursed short-term production loans amounting to Rs 35,023 crore achieving 79.48 per cent of the annual targets. Banks disbursed education loans to the tune of Rs 396 crore and housing loans amounting to …

RBI Raises UPI Payment Limit For Healthcare, Educational Services To Rs 5 Lakh
1 year, 1 month ago

RBI Raises UPI Payment Limit For Healthcare, Educational Services To Rs 5 Lakh

ABP News  

The Reserve Bank of India announced on Friday that it is increasing the UPI payment limit to Rs 5 lakh for payments made to hospitals and educational institutions. Currently, the UPI payments are capped at Rs 1 lakh and the revised limit applies only for healthcare and educational facilities. It is now proposed to enhance the UPI transaction limit for …

Currency In Circulation Dips To 5.3% Due To Rs 2,000 Note withdrawal; Digital Payments Rise RBI Bulletin
1 year, 6 months ago

Currency In Circulation Dips To 5.3% Due To Rs 2,000 Note withdrawal; Digital Payments Rise RBI Bulletin

ABP News  

Currency in circulation, which is the largest part of the reserve money, declined to 5.3 per cent from 8.3 per cent in the year-ago period due to the withdrawal of Rs 2,000 notes from circulation and an increase in digital mode of payments, the Reserve Bank of India said in its bulletin on Friday. The RBI also reported that reserve …

RBI Likely To Tighten Norms For Unsecured Lending Portfolios Of Banks: Report
1 year, 6 months ago

RBI Likely To Tighten Norms For Unsecured Lending Portfolios Of Banks: Report

ABP News  

The Reserve Bank of India is looking to tighten scrutiny on the unsecured lending portfolios of banks amid the growing risk of potential defaults, citing banking sources news agency Reuters said. We can expect the RBI to increase risk weights on unsecured personal loans and credit cards and, or, float a discussion paper on how to monitor the space more …

Time to rejig your fixed deposit (FD) investment. What experts say
1 year, 9 months ago

Time to rejig your fixed deposit (FD) investment. What experts say

Live Mint  

The Reserve Bank of India has decided to halt interest rate hikes, signaling that the interest rate cycle may have reached its peak. Amit Gupta, MD, SAG Infotech said that for fixed-income investors, who were struggling with historically low interest rates only a year ago, are now looking forward to the advantages of previous significant increases in the repo rate, …

Bank FD: ICICI Bank vs PNB vs HDFC Bank; Check Comparison of Latest Interest Rates
1 year, 11 months ago

Bank FD: ICICI Bank vs PNB vs HDFC Bank; Check Comparison of Latest Interest Rates

News 18  

The RBI MPC meeting is going to take place between February 6-8, to decide on the interest rate movement in the country. The central bank in 2022 raised the repo rate five times by 225 basis points in total to 6.25 per cent. Here’s the comparison of the current fixed deposit interest rates offered by three lenders ICICI Bank, PNB …

Deposit limit for Senior Citizen Savings Scheme increases to ₹30 lakh
1 year, 11 months ago

Deposit limit for Senior Citizen Savings Scheme increases to ₹30 lakh

Hindustan Times  

Finance Minister Nirmala Sitharaman on Wednesday proposed to double the deposit limit for Senior Citizen Savings Scheme to ₹30 lakh and Monthly Income Account Scheme to ₹9 lakh. Budget 2023: Govt doubles deposit limit for Senior Citizen Savings Scheme to ₹ 30 lakh. Read here: Budget 2023 brings special scheme for vulnerable tribal groups | Details "The maximum deposit limit …

Indian Bank hikes interest rates on fixed deposits (FDs) by up to 90 bps
2 years, 2 months ago

Indian Bank hikes interest rates on fixed deposits (FDs) by up to 90 bps

Live Mint  

Indian Bank, a leading public sector lender, increased interest rates on fixed deposits below ₹2 crore. Following the modification, the bank increased interest rates on deposits maturing in 1 year to 5 years or above by up to 90 bps. Indian Bank is now offering interest rates on deposits that mature in 7 days to over 5 years that range …

These 2 govt banks offer 7% interest rate on fixed deposits (FDs)
2 years, 2 months ago

These 2 govt banks offer 7% interest rate on fixed deposits (FDs)

Live Mint  

After four consecutive repo rate hikes by the Reserve Bank of India, several banks have raised interest rates on fixed deposits. The State Bank of India HDFC Bank, ICICI Bank, Axis Bank, Kotak Mahindra Bank are among those lenders that have hiked interest on term deposits recently. Union Bank of India latest FD rates Union Bank of India is one …

Bank FD: PNB vs ICICI Bank vs SBI; Check Detailed Comparison of Latest Interest Rates
2 years, 6 months ago

Bank FD: PNB vs ICICI Bank vs SBI; Check Detailed Comparison of Latest Interest Rates

News 18  

As the RBI’s Monetary Policy Committee has raised the repo rate by 90 basis points in two hikes within a month and is expected to do so in order to control inflation in the country, commercial banks are also raising their deposit and lending rates. Several banks, including Kotak Mahindra Bank, Punjab National Bank, and ICICI Bank, have increased their …

Bank FD: PNB vs ICICI Bank vs HDFC Bank; Check Detailed Comparison of Latest Interest Rates
2 years, 7 months ago

Bank FD: PNB vs ICICI Bank vs HDFC Bank; Check Detailed Comparison of Latest Interest Rates

News 18  

As the Reserve Bank of India is entering a tight monetary policy regime to control high inflation and raising its key policy rates, banks are also following the suit. Several lenders, including HDFC Bank, ICICI Bank, Kotak Mahindra Bank and Punjab National Bank, have recently increased their interest rates for both deposits as well as loans. Here’s the comparison of …

Paytm Bank barred from adding new customers
2 years, 9 months ago

Paytm Bank barred from adding new customers

Deccan Chronicle  

Mumbai: The Reserve Bank of India on Friday asked Paytm Payments Bank Ltd to stop onboarding of new customers with immediate effect, citing certain “material supervisory concerns” observed in the bank. Onboarding of new customers by Paytm Payments Bank Ltd will be subject to specific permission to be granted by the RBI after reviewing report of the IT auditors, the …

December Alert: For pensioners, investors, salaried employees and credit cardholders
3 years, 1 month ago

December Alert: For pensioners, investors, salaried employees and credit cardholders

Live Mint  

The first day of every month usually brings changes. SBI Credit Card EMI Transaction Expensive Customers purchasing products on SBI’s credit card EMI facility is going to become expensive from 1 December 2021. PNB revises savings account interest rates Punjab National Bank has announced its decision to cut the savings account interest rate from 1 December 2021. PNB has reduced …

Bank of India Customers Can Now Avail Benefits Worth Rs 1 Crore For Free, Here’s How
3 years, 3 months ago

Bank of India Customers Can Now Avail Benefits Worth Rs 1 Crore For Free, Here’s How

News 18  

Bank of India has launched a special scheme for government employees. Under this scheme, government employees and account holders working in paramilitary forces can get free accidental death cover up to Rs 30 lakh and free air accident insurance of Rs 1 crore. https://twitter.com/BankofIndia_IN/status/1436547550312607744?s=20 According to the information given on the BOI website, the ‘Salary Plus Account Scheme’ can be …

Depositors of THESE banks to get up to Rs 5 lakh back
3 years, 4 months ago

Depositors of THESE banks to get up to Rs 5 lakh back

India TV News  

Depositors of some stressed banks including Punjab and Maharashtra Cooperative Bank will get up to Rs 5 lakh back from Novembr 30, according to a government notification. Earlier this year, the Parliament had passed the Deposit Insurance and Credit Guarantee Corporation Bill, 2021 ensuring that account holders get up to Rs 5 lakh within 90 days of the RBI imposing …

RBI imposes Rs 5-cr penalty on Axis Bank for rule violations
3 years, 5 months ago

RBI imposes Rs 5-cr penalty on Axis Bank for rule violations

India TV News  

The Reserve Bank of India on Tuesday said it has imposed a penalty of Rs 5 crore on Axis Bank for contravention of certain provisions of directions issued by the RBI, including on cybersecurity framework. The contravention of/ non-compliance with the directions has been revealed by — the examination of the Risk Assessment Reports pertaining to ISE 2017, ISE 2018 …

This Lender Hikes Interest Rates On Savings Accounts: 6% Interest Rate Per Annum. Know Details
3 years, 8 months ago

This Lender Hikes Interest Rates On Savings Accounts: 6% Interest Rate Per Annum. Know Details

News 18  

Airtel Payments Bank has increased interest rates on savings account deposit of over Rs 1 lakh. Airtel Payments Bank earlier enhanced day-end savings limit of Rs 2 lakh, according to Reserve Bank of India guidelines. Commenting on the latest hike in savings account interest rates, Anubrata Biswas, chief executive officer of Airtel Payments Bank, said, “RBI’s increased savings deposit ceiling …

Payment banks' balance limit hiked from Rs 1 lakh to Rs 2 lakh with immediate effect
3 years, 9 months ago

Payment banks' balance limit hiked from Rs 1 lakh to Rs 2 lakh with immediate effect

India TV News  

In a bid to push the digital payments banks in the country, the Reserve Bank of India on Wednesday announced to double the maximum balance limit at end of the day from Rs 1 lakh to Rs 2 lakh per individual customers of payments banks. "The extant 'Guidelines for Licensing of Payments Banks' issued on November 27, 2014 allow payments …

Payments bank deposit limit doubled by RBI
3 years, 9 months ago

Payments bank deposit limit doubled by RBI

Live Mint  

In a bid to promote digital payments banks in the country, the Reserve Bank of India on Wednesday announced that it has increased the maximum end of day balance for payment banks to ₹2 lakh. "The extant 'Guidelines for Licensing of Payments Banks' issued on November 27, 2014 allow payments banks to hold a maximum balance of ₹ 1 lakh …

RBI to transfer ₹57,128 crore surplus to Centre for FY20
4 years, 4 months ago

RBI to transfer ₹57,128 crore surplus to Centre for FY20

The Hindu  

The board of the Reserve Bank of India has approved the transfer of ₹57,128 crore as surplus to the government for the accounting year 2019-20, while deciding to maintain the Contingency Risk Buffer at 5.5%, the RBI said in a statement on Friday. “The Board reviewed the current economic situation, continued global and domestic challenges and the monetary, regulatory and …

PMC Bank: RBI extends restrictions for 6 months; withdrawal limit now ₹1 lakh
4 years, 6 months ago

PMC Bank: RBI extends restrictions for 6 months; withdrawal limit now ₹1 lakh

Live Mint  

The Reserve Bank of India on Friday extended restrictions on the beleaguered Punjab and Maharashtra Co-operative Bank for another six months to 22 December, 2020. However, RBI has enhanced the withdrawal limit for the bank's depositors to ₹1 lakh from the existing ₹50,000. "Further, the extent of the negative net worth of the bank, and the legal processes involved in …

Insurance cover on bank deposits raised to Rs 5 lakh effective today; move to help boost confidence of people in banking system
4 years, 11 months ago

Insurance cover on bank deposits raised to Rs 5 lakh effective today; move to help boost confidence of people in banking system

Firstpost  

This, the RBI said, has been done with a view to providing a greater measure of protection to depositors. New Delhi: Insurance cover on bank deposits has been increased to Rs 5 lakh from Rs 1 lakh effective Tuesday, the Reserve Bank of India said in a statement. On Saturday, Finance Minister Nirmala Sitharaman had made the announcement regarding increasing …

Good News! RBI hikes insurance cover on bank deposits to Rs 5 Lakh
4 years, 11 months ago

Good News! RBI hikes insurance cover on bank deposits to Rs 5 Lakh

India TV News  

Soon after the Budget announcement, insurance cover on bank deposits has been increased from Rs 1 lakh to Rs 5 lakh effective Tuesday, the Reserve Bank of India said. On Saturday, Finance Minister Nirmala Sitharaman had announced the increase of insurance cover to Rs 5 lakh in her Budget Speech. As the insurance cover stands increased, the banks will pay …

Relief for customers as RBI hikes insurance on bank deposits to Rs 5 lakh
4 years, 11 months ago

Relief for customers as RBI hikes insurance on bank deposits to Rs 5 lakh

India Today  

Soon after the Budget announcement, insurance cover on bank deposits has been increased from Rs 1 lakh to Rs 5 lakh effective Tuesday, the Reserve Bank of India said. On Saturday, Finance Minister Nirmala Sitharaman had announced the increase of insurance cover to Rs 5 lakh in her Budget Speech. As the insurance cover stands increased, the banks will pay …

Budget 2020 | Deposit insurance cover raised to ₹5 lakh
4 years, 11 months ago

Budget 2020 | Deposit insurance cover raised to ₹5 lakh

The Hindu  

The government has decided to increase the insurance cover for bank deposits to ₹5 lakh from ₹1 lakh, Finance Minister Nirmala Sitharaman said in her Budget speech. “The Deposit Insurance and Credit Guarantee Corporation has been permitted to increase Deposit Insurance Coverage for a depositor, which is now ₹1 lakh to ₹5 lakh per depositor,” she said. “Raising deposit insurance …

PMC Effect: Deposit insurance raised to Rs 5 lakh
4 years, 11 months ago

PMC Effect: Deposit insurance raised to Rs 5 lakh

India TV News  

In a major relief to the common man, the Finance Minister on Saturday announced to raise the insurance cover on bank deposits to Rs 5 lakh from the current Rs 1 lakh. As per the guidelines of the Reserve Bank of India, deposits with all commercial banks and cooperative banks are insured under the Deposit Insurance and Credit Guarantee Corporation. …

Budget 2020: BIG relief for bank depositors! Insurance cover hiked from ₹ 1 lakh to ₹ 5 lakh, says Sitharaman
4 years, 11 months ago

Budget 2020: BIG relief for bank depositors! Insurance cover hiked from ₹ 1 lakh to ₹ 5 lakh, says Sitharaman

India TV News  

Bank deposit insurance cover hiked: Finance Minister Nirmala Sitharaman on February 1, 2020, announced a hike in insurance cover for bank depositors and said depositors' money is absolutely safe. Deposit Insurance and Credit Guarantee Corporation, a wholly-owned subsidiary of the Reserve Bank of India, provides insurance cover on bank deposits. At present, bank depositors get an insurance cover of Rs …

'Not all money, only up to ₹ 1 lakh insured in banks,' RBI-owned subsidiary says
5 years, 1 month ago

'Not all money, only up to ₹ 1 lakh insured in banks,' RBI-owned subsidiary says

India TV News  

Having more than Rs 1 lakh in a bank account? After Reserve Bank of India put restrictions on PMC Bank depositors, “Is my money safe with banks?, “Is keeping money in the bank in savings/deposit account akin to lending to a bank? "Under the provisions of Section 16 of the DICGC Act, 1961, if a bank fails/gets liquidated, the DICGC …

RBI increases withdrawal limit for PMC depositors to Rs 25,000
5 years, 3 months ago

RBI increases withdrawal limit for PMC depositors to Rs 25,000

India TV News  

The Reserve Bank of India has enhanced withdrawal limit for depositors of Punjab and Maharashtra Cooperative Bank. PMC Bank withdrawal limit increased to Rs 25,000: Here's what RBI said It may be recalled that the Reserve Bank of India had permitted the depositors of Punjab and Maharashtra Cooperative Bank Ltd to withdraw up to ₹ 10,000/- of the total balance …

PNB revises savings bank account, fixed deposit rates. Latest FD rates here
5 years, 4 months ago

PNB revises savings bank account, fixed deposit rates. Latest FD rates here

Live Mint  

Public sector lender Punjab National Bank or PNB has revised interest rates on savings account deposits and fixed deposits or FDs with effect from September 1. PNB latest FD rates from 7 days to 1 year PNB is offering interest rate of 4.5% on 7-45 day fixed deposits and it goes up 5.5% on 46 to 179 day FDs. 7 …

Post-record payout to govt, RBI’s contingency fund plunges to ₹1.96 lakh cr
5 years, 4 months ago

Post-record payout to govt, RBI’s contingency fund plunges to ₹1.96 lakh cr

Live Mint  

The Reserve Bank's contingency fund, useful in fighting any exigency, has plunged to ₹1.96 lakh crore as of June 30, after the ₹52,000 crore excess payout to the government, says the central bank's annual report for FY19. After the payout to the government, "the balance in the contingency fund as of June 30, 2019 was ₹1,96,344 crore compared to ₹2,32,108 …

RBI’s profit more than trebles in 2018-19 on lower expenses
5 years, 4 months ago

RBI’s profit more than trebles in 2018-19 on lower expenses

Live Mint  

Reserve Bank of India’s profit for 2018-19 more than trebles to ₹1.76 trillion owing to lower expenditure and higher other income, which has enabled a higher surplus transfer to the government. Simultaneously, other income rose nearly 20 times on a y-o-y basis to ₹86,199 crore after the central bank wrote back excess provisions from balance sheet to the profit and …

The numbers behind RBI’s ₹1.76 lakh crore payout to government: 10 points
5 years, 4 months ago

The numbers behind RBI’s ₹1.76 lakh crore payout to government: 10 points

Live Mint  

The Reserve Bank of India on Monday approved a record ₹1.76 lakh crore payout to the government, which is more than double the ₹68,000 crore that it provided the previous year. The ₹1.76 lakh crore transfer to the government includes ₹1.23 lakh crore as dividend to the government and ₹52,637 crore from its surplus capital. "Revaluation balances are highly volatile, …

Latest fixed deposit (FD) rates: SBI vs PNB vs HDFC Bank vs Axis Bank vs ICICI Bank
5 years, 5 months ago

Latest fixed deposit (FD) rates: SBI vs PNB vs HDFC Bank vs Axis Bank vs ICICI Bank

Live Mint  

Fixed deposits are the safest means of investment. On FDs maturing between one year and two years, the bank is offering 6.80% interest rate. The bank is offering an interest rate of 7.2% for fixed deposits maturing in one and two years. For FDs with maturity between five years and 10 years, Axis Bank offers an interest rate of 7%. …

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