The Reserve Bank of India (RBI) has approved the reappointment of Rama Subramaniam Gandhi as the part-time non-executive chairman of Yes Bank. His new term runs from September 20, 2025, to May 13, 2027, as confirmed by a regulatory filing from Yes Bank. This move ensures leadership stability as the bank continues its recovery and aims to boost investor … Read more
Starting September 15, 2025, the National Payments Corporation of India (NPCI) will implement revised UPI transaction limits for specific high-value payment categories. The per-transaction limit has been increased to ₹5 lakh, and the 24-hour aggregate limit raised to ₹10 lakh for several services, including insurance, capital markets, government tax payments, and credit card payments—a significant … Read more
In a significant move for India’s financial landscape, the Reserve Bank of India (RBI) has given the green light to Japan’s Sumitomo Mitsui Banking Corporation (SMBC) to purchase up to 24.99% stake in Yes Bank, making it a major cross-border M&A deal in the banking sector. The Deal Details Valuation and Impact RBI’s Decision Broader … Read more
SBI introduces collateral-free loans up to ₹4 lakh for Agniveers with zero processing fee and a flat 10.50% interest rate. IMPS online transfers above ₹25K now incur nominal charges. New Collateral-Free Loan Scheme for Agniveers Overview Interest Rate & Tenure Broader Context Revised IMPS Charges for Online Transfers Over ₹25,000 Policy Change Fee Structure Exemptions … Read more
In a significant move to enhance digital payment security, the National Payments Corporation of India (NPCI) has announced the discontinuation of peer-to-peer (P2P) ‘collect requests’ on UPI starting October 1, 2025. This decision aims to combat fraud incidents on the Unified Payments Interface (UPI) network involving collect requests. What Are ‘Collect Requests’ in UPI? Current … Read more
State Bank of India (SBI) will introduce nominal charges for online IMPS transfers exceeding ₹25,000 starting August 15. Learn about the revised fee structure and exemptions. IMPS Charges Revised: What’s New? These charges are exclusive of GST and will apply to transactions via internet banking, YONO, or mobile banking. Who is Exempted from These Charges? … Read more
Reserve Bank of India (RBI) introduces FREE-AI blueprint to regulate ethical AI in India’s financial sector, ensuring innovation while minimizing risks. Committee Formation and Methodology Opportunities with AI in Finance Risk Landscape and Global Policies Core Principles and Strategic Pillars RBI’s Recommendations and Implementation Survey Insights and Current Adoption Integration with Existing RBI Rules and … Read more
Axis Bank has launched the ‘Lock FD’ feature to protect customers from digital banking fraud by preventing premature closure of fixed deposits online. This added security measure allows closure only through branch visits with ID verification, strengthening protection against online fraud. Introducing the ‘Lock FD’ Feature How ‘Lock FD’ Works Added Security Through Branch Verification … Read more
In a bid to enhance banking convenience and financial inclusion, the Reserve Bank of India (RBI) has introduced three significant initiatives. These measures aim to make banking services more accessible, transparent, and user-friendly for individual customers. The announcement was made post the Monetary Policy Committee (MPC) meeting, emphasizing customer-centric initiatives for deeper financial inclusion. Key … Read more
IDFC FIRST Bank has introduced RemitFIRST2India, a zero-fee digital remittance platform for NRIs, providing live tracking, competitive forex rates, and seamless transfers from Singapore and Hong Kong. Partnership with SingX for Seamless Transfers Key Features of RemitFIRST2India User-Friendly Access About IDFC FIRST Bank The Bank’s Digital Excellence Commitment to Ethical and Social Good Banking Why … Read more
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