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
The Reserve Bank of India (RBI) has approved the merger of four cooperative banks in Gujarat. After these mergers, only two banks will remain. The RBI gave its approval through separate notifications. Both mergers have been approved under the provisions of the Banking Regulation Act, 1949, and will come into effect on December 15, 2025. … Read more
The Reserve Bank of India (RBI) has announced major changes to current account rules, which will come into effect from April 1, 2026. These changes are aimed at better tracking the movement of funds between banks, reducing fraudulent or circular transactions, and improving overall credit discipline. For companies that borrow from multiple banks, managing daily … Read more
The Reserve Bank of India (RBI) is working to make banking fees and service charges more transparent. The central bank is collaborating with banks to create a single format that clearly lists all fees, including loan processing charges. The goal is to eliminate hidden or overlapping charges and make banking costs easier for customers to … Read more