A Cobrapost sting operation has bow the Indian banking system into a controversial row, exposing the alleged role of top private sectors lenders ICICI Bank, HDFC and Axis Bank in money laundering practices. Read more
Tag: RBI
RBI welcomes New Banks, holding Keys
Relaxing the entry barrier, the Central bank is going to welcome the entry of new banks in the private sector, releasing banking licenses as per new and final guidelines, into the Rs.73 trillion banking sector. Read more
Provisioning requirements for loans restructuring hikes to 5%: RBI
Seeking a tight grip over banking bad debts, the Reserve Bank of India announced to hike the provisioning requirements for loans restructuring of banks to 5 %, reports said. Read more
SBI cuts 5bps in base rate, others to follow suit
Indian largest lender bank, State Bank of India has cut its key lending rate by 5 basis points, passing on RBI’s recent monetary cut off key rates to customers, for monetary easing with economic growth. Read more
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