ICICI Bank Increases FD Interest Rate by 25 Bps
On fixed deposits of less than Rs 2 Crore, the private lender ICICI Bank has hiked fixed deposit interest rates from August 19 2022, as...
Category : BANKING
Banks See Decline in Savings Bank Deposits and Accretion in FDs, Says RBI Data
Banks are witnessing a shift in deposits from savings accounts to fixed deposits (FD) whilst credit growth is gathering steam. Data from the fortnight reporting...
RBI revives Central Bank of India, Checks Oversight
On September 20, the Reserve Bank of India (RBI) said it had removed the state-run Central Bank of India from the so-called prompt corrective action...
Fino Payments Bank Expands Branchless Banking Points in Northeast
Officials said Fino Payments Bank is expanding branchless banking locations in northeastern states to expand facilities in remote corners, especially in the region’s difficult terrain....
Yes Bank Approves Rs 48,000 Crore Sale of Stressed Loans to JC Flowers
On Tuesday, the Private lender Yes Bank said its board approved the sale of stressed loans worth Rs 48,000 crore to JC Flowers Asset Reconstruction...
Ujjivan Small Finance Bank Closes QIP Offering to Raise Rs 475 Crore
On Thursday, Ujjivan Small Finance Bank completed a qualifying institutional placement, raising Rs 475 crore through issuing more than 22.6 crore shares. Small Finance Bank...
SBI Raises Benchmark Lending Rate by 0.7%
State Bank of India (SBI), the country’s largest lender, raised its benchmark prime lending rate (BPLR) by 70 basis points or 0.7% to 13.45%. The...
Bank FDs with Higher Interest Rates Than RBI Floating Rate Bonds
After the RBI started raising the repo rate, many banks raised their fixed deposit rates, passing on the gains to customers. However, only a handful...
Bank of Baroda Hikes FD Interest Rates by 20 Bps
Bank of Baroda has raised fixed deposit (FD) rates below Rs 2 crore. The bank has raised its fixed deposit rate by 20 basis points....
Loan Waiver Not a Benefit, Banks Exempt From 10% TDS on OTS: CBDT Clarifies
The Central Board of Direct Taxes (CBDT) has clarified in a circular that banks are not required to deduct 10% TDS on a one-time settlement...