In May 2023, the Reserve Bank of India (RBI) announced that ₹2,000 notes would be gradually withdrawn from circulation. Even after more than two years, around ₹6,000 crore worth of these notes have still not returned to banks. According to the RBI, 98.37% of ₹2,000 notes issued by October 31, 2025, have been deposited, but … Read more
If you are a Kotak Mahindra Bank customer, take note. The bank has announced that several digital banking services will be temporarily unavailable due to scheduled maintenance. Customers will not be able to access certain services tonight, December 20th, and into the morning of December 21st. The bank advises users to complete any urgent banking … Read more
For senior citizens, fixed deposits (FDs) remain one of the safest investment options. Unlike the stock market or mutual funds, FDs provide guaranteed returns and are low-risk. This makes them ideal for retirees who want regular income without taking any financial risk. Interestingly, some small finance banks are offering attractive interest rates of up to … Read more
As 2025 comes to an end, many people are already preparing their finances for the new year. Whether it’s updating a passbook, depositing a check, or applying for a loan, banks play a crucial role in financial planning. However, it’s important to remember that banks remain closed on certain holidays. Not keeping these closures in … Read more
After the RBI cut the repo rate by 25 basis points to 5.25% in its December meeting, several major banks moved quickly to adjust their interest rates. Following SBI and HDFC Bank, Canara Bank has now revised both its lending rates and fixed deposit (FD) rates. While borrowers may welcome lower loan rates, depositors may … Read more
Good news for borrowers! Several major banks, including Canara Bank, SBI, Punjab National Bank (PNB), Indian Overseas Bank (IOB), and Bank of Maharashtra, have reduced their loan interest rates. This follows the Reserve Bank of India (RBI) cutting the repo rate by 0.25%, from 5.50% to 5.25% earlier this month. As a result, banks have … Read more
The Reserve Bank of India (RBI) has taken strict action against Loknete RD (Appa) Kshirsagar Co-operative Bank in Nashik, Maharashtra, and Guwahati Cooperative Urban Bank in Assam due to serious financial and supervisory concerns. As a result, withdrawals by depositors have been restricted, and other banking operations are limited. These measures are effective from the … Read more
IDFC FIRST Bank has taken an important step to make banking simpler and more rewarding for Non-Resident Indians (NRIs). The bank has introduced the IDFC FIRST Global Savings Account, a special non-resident savings account launched under the IFSC framework at GIFT City. This account is designed especially for NRIs and allows them to hold and … Read more
The month of December is almost over, and if you are planning a visit to the bank in the coming days, it’s important to know about upcoming holidays. Banks will remain closed on certain days for various reasons, so checking the bank holidays in your city before heading out is essential. Tomorrow, December 18th, Thursday, … Read more
The Reserve Bank of India (RBI) has reduced the repo rate by 0.25 percent again in December. With this cut, the total reduction in the repo rate this year now stands at 1.25 percent. After this move, many banks lowered their fixed deposit (FD) interest rates. Public sector Union Bank of India has also revised … Read more
The Reserve Bank of India (RBI) has released its final guidelines on how banks should maintain Cash Credit (CC), Current Accounts (CA), and Overdraft (OD) accounts. These rules aim to improve credit discipline and transparency, while also offering some important relaxations for businesses. The guidelines are especially important for banking awareness and competitive exam preparation, … Read more