The Reserve Bank of India (RBI) has allowed depositors of New India Co-operative Bank Limited, Mumbai, to withdraw up to ₹25,000 per account holder, effective from February 27, 2025. Company Value Change %Change This relaxation comes nearly two weeks after the central bank imposed stringent restrictions on the bank, including a complete freeze on withdrawals….
The Reserve Bank of India (RBI) on Monday announced it will double the size of its open market operation (OMO) purchase to ₹40,000 crore for February 13, up from the ₹20,000 crore announced earlier. The move aims to ease the persistent liquidity deficit in the banking system. Company Value Change %Change “On a review of…
Mumbai: After finance minister Nirmala Sitharaman delivered a consumption-supporting budget, the ball is now in the Reserve Bank of India’s (RBI) court to deliver the last-mile push to growth with a rate cut next week. A majority of economists believe that the budget has set the stage for a rate cut by keeping fiscal deficit…
Transferring money from India to a foreign account can be cumbersome. Additionally, if the payment exceeds ₹7 lakh, tax collected at source (TCS) would be deducted, which could be claimed later. Ram felt that the whole process was too complicated for his retired parents to handle. Fortunately, a solution came from a banker friend who,…
The first is Fed action: All central banks say that they look at domestic conditions when framing policy. But traders and analysts always trace a link to the Federal Reserve, often in the belief that what the US central bank does drives all other policies. While central banks are steadfast in approach, bond yields are…
Mahaparinirvan Diwas bank holiday: Are banks in Maharashtra closed on December 6 for Mahaparinirvan Diwas? No, it is not a public holiday. As such, all public and private banks in the state, including the State Bank of India (SBI), will function as usual. Mahaparinirvan Diwas pays tribute to Dr Babasaheb Ambedkar on his death anniversary….
Markets regulator Sebi issued a circular on instant redemption in liquid funds in 2017, allowing investors to withdraw up to ₹50,000 or 90% of the money parked in a liquid fund per day, whichever is lower. Many fund houses such as PPFAS, Nippon, Shriram, Bajaj, ICICI, HDFC and SBI offer this facility. Liquid mutual funds…
Leading microfinance companies including CreditAccess Grameen, Fusion Finance and Equitas Small Finance Bank have warned that many of their customers may be over-leveraged, after discovering that some have four or more active loans. Industry officials and analysts identified three reasons for the state of things; One, a post-covid credit binge that drew in many borrowers;…
