The Reserve Bank of India (RBI) is planning to tighten rules for mobile wallets and prepaid payment instruments (PPIs), and the move has created concern across the digital payments industry. Several payment companies now fear that the proposed rules could reduce business opportunities and affect services that millions of users rely on daily. Industry players … Read more
If you are planning to buy a smartphone on EMI or through a mobile loan, this update from the Reserve Bank of India (RBI) is important for you. The RBI has released new draft rules related to mobile phone loan defaults. According to the proposal, banks and finance companies may be allowed to restrict certain … Read more
The Reserve Bank of India (RBI) has introduced a draft of new rules related to bank loan recovery. These proposed rules aim to make the recovery process more transparent, fair, and borrower-friendly. The biggest focus of the new framework is to stop harassment by recovery agents and protect the dignity and privacy of borrowers. Once … Read more
The Reserve Bank of India (RBI) has cancelled the license of Maharashtra-based The Yashwant Co-operative Bank, located in Phaltan. According to the RBI, the bank did not have enough capital and lacked proper earning potential to continue operating safely. The central bank also said the co-operative bank failed to comply with certain banking regulations and … Read more
If you use an ICICI Bank debit card, there are some important updates you should know. The bank has changed several benefits and charges linked to its Expressions debit card. These new rules will start from June and July 2026. Some changes will help customers save money, while others may increase your expenses. Movie Ticket … Read more
At a time when most banks are lowering fixed deposit (FD) interest rates, Bank of India has surprised depositors by increasing rates on select FD schemes. The revised rates came into effect from May 18 and apply to deposits below Rs 3 crore. The decision stands out because many banks have reduced FD returns after … Read more
Bank of India has increased interest rates on fixed deposits (FDs), giving a benefit to its customers. Most banks had reduced FD interest rates after the Reserve Bank of India cut the repo rate by a total of 125 basis points starting from February 2025. However, Bank of India has taken a different step by … Read more
Reserve Bank of India (RBI) Governor Sanjay Malhotra has hinted that petrol and diesel prices in India could rise if tensions in the Middle East continue for a longer period. Speaking at a conference in Switzerland hosted by the Swiss National Bank and the International Monetary Fund (IMF), Malhotra said the government may eventually have … Read more
The Reserve Bank of India (RBI) has cancelled the banking licence of Mumbai-based Sarvodaya Co-operative Bank Ltd. with immediate effect. The central bank said the co-operative bank did not have enough capital and had weak earning prospects, making it unsafe to continue operations. With this decision, the bank has stopped all banking activities from the … Read more
Many bank customers in India have faced this situation — you visit a branch for important work, but the staff says, “It’s lunchtime, come later,” or “The server is down, come tomorrow.” In most cases, people quietly leave and return another day. But according to Reserve Bank of India (RBI) rules, banks cannot stop customer … Read more
Mumbai-based AU Small Finance Bank has launched four new credit cards designed for different income groups and age categories as it expands its retail banking business across India. The launch comes at an important time for the bank. AU Small Finance Bank, currently the country’s largest small finance bank, has already received in-principle approval from … Read more