Guwahati, July 25 (IANS) Assam Chief Minister Himanta Biswa Sarma on Saturday announced that the state government will bear 5 per cent of the beneficiary contribution for loans availed under the Agriculture Infrastructure Fund (AIF), while Farmer Producer Organisations (FPOs) will receive full support with the state covering their entire 10 per cent contribution. Addressing a state-level workshop on the Agriculture Infrastructure Fund in Guwahati, the Chief Minister said the initiative is aimed …
Latest Banks News & Updates
Gandhinagar, July 22 (IANS) The Gujarat government on Wednesday launched a coordinated initiative involving banks and the police to strengthen the state’s response to cyber fraud, with a particular focus on freezing stolen funds during the crucial “golden hour” immediately after a complaint is lodged. The initiative was discussed at a high-level meeting chaired by Deputy Chief Minister Harsh Sanghavi at GIFT City in Gandhinagar, bringing together heads of leading banks, senior police officers an…
Mumbai, July 16 (IANS) The Reserve Bank of India (RBI) has issued final prudential norms for banks, small finance banks (SFBs) and non-banking financial companies (NBFCs), barring them from selling specified non-financial assets (SNFAs) acquired during the resolution of stressed loans back to the defaulting borrower or its related parties. The amendments have been issued under the RBI’s Resolution of Stressed Assets Directions 2026 for commercial banks, small finance banks and NBFCs.The new norm…
New Delhi, July 15 (IANS) Customers whose complaints against banks or other financial institutions remain unresolved can now approach the Reserve Bank of India (RBI) under its new Integrated Ombudsman Scheme, which allows compensation of up to Rs 33 lakh in cases involving proven financial loss and service deficiencies.The Reserve Bank – Integrated Ombudsman Scheme (RB-IOS), 2026 — that came into effect from July — provides a free and independent mechanism for customers to escalate complaint…
New Delhi, July 14 (IANS) Around 9 crore micro, small and medium enterprises (MSMEs) have been registered under the government’s Udyam Registration Portal and Udyam Assist Platform, providing employment to over 38 crore people across the country, according to an official statement on Tuesday.The two digital platforms have been launched to formalise enterprises, expand access to government support and strengthen the country’s MSME ecosystem, according to a statement from the Ministry of Micro, Sm…
Hyderabad, June 25 (IANS) Telangana Chief Minister A. Revanth Reddy, on Thursday, appealed to all state government employees to work for an extra hour every day to achieve more productive outcomes in administration, especially in enhancing state revenues. The Chief Minister stressed that illegal activities should be curbed and leakages should be plugged to generate more revenue.Addressing a meeting after signing MoUs with banks to provide insurance coverage to all government employees, the Chief…
Mumbai, June 25 (IANS) The Reserve Bank of India (RBI) on Thursday proposed opening the term money market to a wider range of financial institutions and companies in a move aimed at deepening market liquidity and improving monetary policy transmission across different maturities.Under the draft directions released by the central bank, non-banking financial companies (NBFCs), housing finance companies (HFCs), All India Financial Institutions (AIFIs), and companies would be allowed to participate …
New Delhi, June 24 (IANS) India’s Account Aggregator ecosystem facilitated nearly 3.8 crore financial products and services in FY26 and has delivered over 45 crore cumulative consents and more than 500 crore data fetches, a report said on Wednesday.The report from the industry alliance of India’s Account Aggregator (AA) ecosystem — Sahamati — said the network now processes over 7 lakh consents daily and underlined AA ecosystem’s evolution beyond credit underwriting into a broader financial ser…
Seoul, June 12 (IANS) Banks are fast moving to rein in a surge in credit loans as customers have borrowed money to buy stocks, financial sources said on Friday.According to various sources, Hana, Shinhan and other major lenders have tightened criteria and limits on credit loans in the face of pressure from the country’s financial authorities, reports Yonhap news agency.The measure came as household loans extended by banks rose at the fastest pace in nearly two years in May as lending linked to s…
New Delhi, June 8 (IANS) The Reserve Bank of India’s decision to reinvigorate Foreign Currency Non-Resident (Bank) or FCNR-B deposits could pave the way for fresh long-term foreign exchange inflows, according to a report.Jefferies, in its report, said that the renewed focus on FCNR-B deposits is aimed at mobilising funds from non-resident Indians for a tenure of 3–5 years, potentially opening a stable channel of forex inflows into the country’s banking system.It noted that the initiative d…