The Reserve Bank of India (RBI) has decided to close its special swap facility for FCNR(B) deposits earlier than planned. The facility will now be available only for deposits mobilised until August 31, 2026, instead of the earlier September 30 deadline. The RBI said the decision was taken because of the strong response to the … Read more
If you have a loan from Bank of Baroda or Canara Bank, there is an important update for you. Both banks have increased their Marginal Cost of Funds Based Lending Rate (MCLR) for selected loan tenures. The revised rates came into effect from August 12. The increase is between 5 and 10 basis points, depending … Read more
The Reserve Bank of India (RBI) appears to be making some changes to its proposed rules for banks and debt recovery agents. The latest feedback suggests that some of the earlier strict requirements may now be relaxed. A few months ago, the RBI proposed tighter rules to control the behaviour of recovery agents and protect … Read more
Buying a home is a major financial commitment, and rising interest rates can make EMIs more difficult to manage. To give borrowers more certainty, Kotak Mahindra Bank has launched a new hybrid home loan scheme. Under this scheme, borrowers can keep their home loan interest rate fixed for up to 65 months. This means their … Read more
What if someone offered you money simply for using your bank account? It may sound like an easy way to earn some extra cash, but accepting such an offer could put you in serious trouble. Cybercriminals often use other people’s bank accounts to receive and transfer money linked to scams or illegal activities. In return, … Read more
The Reserve Bank of India (RBI) has proposed changes to the leverage ratio rules for banks. The main purpose is to bring India’s banking regulations in line with the latest global standards set by the Basel Committee on Banking Supervision (BCBS). The RBI has released a draft amendment to its capital adequacy rules and is … Read more
If your bank account has been suddenly frozen because of a cybercrime investigation, or if you have lost money in an online fraud, there is now a new system to help you. Two grievance redressal systems, GRM and MRM, have been launched on the National Cyber Crime Reporting Portal (NCRP). The new system is designed … Read more
Missing an EMI payment for a loan will no longer allow banks to freely disable or lock your mobile phone, laptop or tablet. The Reserve Bank of India (RBI) has issued new guidelines restricting the use of technology-based device controls by lenders during loan recovery. Under the new rules, banks can use such restrictions only … Read more
UPI users are unlikely to see an immediate change in the way they make digital payments. However, the government has taken an important step that could allow charges on certain UPI transactions in the future. The Lok Sabha has passed the Taxation and Other Laws (Amendment) Bill, 2026, which makes changes to the Payment and … Read more
Savings account holders usually earn limited interest on their deposits, but some banks are now offering higher returns to attract customers. Unity Small Finance Bank has revised its savings account interest rates, allowing customers to earn up to 7% annual interest on their account balance. The new rates became effective from August 1, 2026. Customers … Read more
If you’re planning to invest in a Fixed Deposit (FD) with a Small Finance Bank (SFB), there’s an important update you shouldn’t miss. The Reserve Bank of India (RBI) has changed the FD rules for Small Finance Banks, and the new guidelines will come into effect from October 1, 2026. The changes are aimed at … Read more