RBI allows banks to link bulk deposit rates to liquidity profile
The Reserve Bank of India (RBI) has allowed banks more flexibility in setting interest rates on bulk deposits. Banks can now offer different interest rates based on how stable these deposits are under the Liquidity Coverage Ratio (LCR) rules. However, RBI has kept an important rule in place—interest rates must remain uniform for similar deposits. […]
Bank holidays in August 2026: Banks to stay closed for 14 days; check list
Reserve Bank of India (RBI) has released its holiday calendar, which lists 14 holidays in August, including scheduled Sundays and Saturdays off. All Indian banks, both public and private, will be closed on these days. In addition to gazetted public holidays, all scheduled and unscheduled banks observe closures on all second and fourth Saturdays as […]
Inflows through special window to ease banks’ liquidity pressure
A surge in inflows through a special window—mainly via FCNR(B) deposits—is helping ease liquidity pressure in the banking system. These inflows have strengthened banks’ foreign currency resources, improving overall liquidity conditions and supporting stability in the financial system. The move comes as part of measures aimed at attracting overseas funds and managing tight liquidity situations […]
Axis, Kotak Mahindra raise charges for overseas card transactions
Axis Bank and Kotak Mahindra Bank have increased charges on overseas card transactions, making international spending costlier for customers. Axis Bank will raise its dynamic currency conversion (DCC) fee on credit cards from 1.5% to 3.5% (effective August 28, 2026), while Kotak Mahindra Bank will increase charges on debit card transactions from 1% to 3.5% […]
Banks collected ₹7,086 crore as minimum balance penalties in FY26
Private sector banks collected ₹4,948.71 crore in FY26 as penalties from customers for not maintaining the minimum average balance (MAB) in their savings and current accounts, while public sector banks (PSBs) collected ₹2,137.92 crore during the same period. In total, banks earned over ₹7,086 crore through such charges, as informed by Minister of State for […]
Chandigarh tops RBI ombudsman grievances rates in FY25
RBI Deputy Governor Swaminathan J has asked banks and financial institutions to improve their internal complaint handling systems. He pointed out that many customer complaints reaching the RBI Ombudsman were never addressed by the institutions first. As per the updated rules from July 1, customers must first raise complaints with the concerned bank or NBFC. […]
Home / Industry / Banking / Tamilnad Mercantile Bank’s Q1 net profit surges 35% to ₹412 crore Tamilnad Mercantile Bank’s Q1 net profit surges 35% to ₹412 crore
Tamilnad Mercantile Bank (TMB) reported a strong performance in the first quarter, with its net profit rising 35% to ₹412 crore, compared to ₹305 crore in the same period last year. This growth was mainly driven by an increase in its core income and interest earnings. The bank’s total income also increased to ₹1,901 crore […]
FCNR(B) inflows may have crossed 2013 level in just 45 days: SBI Research
FCNR(B) deposits raised under the RBI’s concessional swap facility have grown very quickly and may have already exceeded the amount collected during a similar scheme in 2013 within just 45 days. Because of this strong response, SBI Research has increased its estimate of total inflows to $65–70 billion, much higher than its earlier forecast. When […]
Reserve Bank of India gets govt’s nod to issue ₹10, ₹20 polymer banknotes
The government has approved a proposal allowing the Reserve Bank of India (RBI) to introduce polymer banknotes of ₹10 and ₹20 for trial use. Around 1 billion notes of each denomination will be issued initially to test their performance in real conditions. Polymer notes are made from a special plastic material, making them more durable, […]
RBI likely to hold rates on August 5 despite inflation uptick
Inflation in the economy is expected to remain high until December, which is why the Reserve Bank of India (RBI) is likely to keep interest rates unchanged for now. When inflation is elevated, reducing interest rates can make loans cheaper and increase spending, which may push prices even higher. To avoid this, the RBI prefers […]