The Reserve Bank of India (RBI) has imposed strict restrictions on Mumbai-based Mogaveera Co-operative Bank due to concerns over its financial health. The move is aimed at protecting customers and ensuring the safety of depositors’ money. The restrictions came into effect after business hours on Friday and will remain in place for six months. However, … Read more
Bank of Baroda has introduced a new fixed deposit (FD) scheme that aims to attract investors looking for stable and rewarding returns. Named the “bob Golden Goal Deposit Scheme”, this special FD has been launched from June 12, 2026. This scheme comes with a fixed tenure of 555 days and is available for deposits below … Read more
A major change could soon be on the way for India’s banking sector. The Reserve Bank of India (RBI) is reportedly considering issuing fresh licences for Urban Co-operative Banks (UCBs), ending a pause that has been in place for more than two decades. If approved, this would mark the first time since 2004 that new … Read more
Fixed deposit investors have received some good news. Unity Small Finance Bank has increased interest rates on its special 501-day Fixed Deposit (FD) scheme, offering higher returns to both regular investors and senior citizens. With the latest revision, senior citizens can earn up to 8.3% interest per year, while general customers can get returns of … Read more
There is good news for Non-Resident Indians (NRIs) looking to earn better returns on their savings. Two major private sector banks, ICICI Bank and Axis Bank, have increased interest rates on their Foreign Currency Non-Resident (FCNR-B) deposit schemes. Both banks are now offering up to 6% interest on FCNR(B) deposits with tenures ranging from 3 … Read more
Non-Resident Indians (NRIs) looking to earn better returns on their foreign currency deposits now have a reason to smile. Several Indian banks, including HDFC Bank, Yes Bank, and AU Small Finance Bank, have significantly increased interest rates on foreign currency deposits. The move comes shortly after the Reserve Bank of India (RBI) announced special measures … Read more
There’s important news for IndusInd Bank credit card users. The bank has announced several changes to its credit card rules that will take effect from June 15, 2026. The new rules cover interest charges, fuel spending, transport expenses, foreign transactions, and late payment fees. These changes could affect millions of customers, especially those who do … Read more
Fixed Deposits (FDs) remain one of the most popular investment options in India. They are considered safe because investors receive guaranteed returns along with their principal amount after a fixed period. For people who prefer stability over market-linked investments, FDs have long been a trusted choice. However, some important changes could soon be introduced that … Read more
In a move aimed at attracting more foreign currency into India, the Reserve Bank of India (RBI) has announced a major relief for banks raising funds through NRI deposits. The central bank has exempted fresh Foreign Currency Non-Resident (Bank) or FCNR(B) deposits from Cash Reserve Ratio (CRR) and Statutory Liquidity Ratio (SLR) requirements under its … Read more
Punjab National Bank (PNB) has introduced a new loan scheme called PNB Divyang Loan to support persons with disabilities. The scheme offers affordable home and vehicle loans and has been launched in partnership with the National Disability Finance and Development Corporation (NDFDC). The initiative aims to improve financial independence, mobility, and access to housing for … Read more
The Reserve Bank of India (RBI) has decided to keep its key policy repo rate unchanged at 5.25%, as expected by most market experts. The decision came after the conclusion of the three-day Monetary Policy Committee (MPC) meeting. Along with the repo rate, the RBI has also maintained its neutral stance on monetary policy, signaling … Read more