IndusInd Bank opened certain savings deposit accounts in the name of ineligible entities

Former RBI Governor Shaktikanta Das, however, batted for keeping repo rate unchanged, saying progress made towards disinflation till now must be preserved

In 2024,the industry cloced a strong growth of 16 per cent in Individual Rated New Business

Without meticulous oversight, theres a looming risk of market imbalance and monopolistic tendencies

Cardholders will receive significant perks including unlimited lounge access at over 1,300 global airports, visa services at home, and entry to The Quorum Club

Powell emphasised that while the current rate of 4.3% is considered meaningfully restrictive, it is a well-balanced level that allows for progress on inflation while supporting a robust labour market

Powell highlighted the ambiguity surrounding tariffs, including which goods may be affected and their potential duration

Powell stated that the legal framework governing Bitcoin ownership is a matter for Congress but emphasised that the Fed is not seeking any changes to its policies regarding cryptocurrency.

The bonds are unsecured, subordinated, redeemable, non-convertible, and taxable debentures with a face value of 1 lakh each

Credit offtake, at 175.1 lakh crore, grew by 10.6%, down from last years 20.6%, while deposits expanded to 220.2 lakh crore, marking a 10.7% YoY increase.

This initiative will take place in single or multiple tranches during the fiscal year 2025 and may extend beyond that based on feasibility assessments

Earlier, a proposal for rationalising GST on insurance premium was supported by the Financial Services Department and the Insurance Regulatory and Development Authorityof India

Earlier this year, the RBI had barred ECL Finance from undertaking structured wholesale transactions and restricted Edelweiss ARC from acquiring new financial assets or issuing new security receipts.

The report further highlights that over 36 per cent of Indias crypto investments were concentrated in the three largest metros -- Delhi, Bengaluru, and Mumbai

Though the past two years have seen a sharp growth in the banking sector, there could be a slowdown in credit going ahead. ICRAs Karthik Srinivasan on what lies ahead for the banking sector

As on December 4, banks had collectively opened 54.13 crore (this is equivalent to the entire population of Myanmar) Jan Dhan accounts, which had outstanding balances of 2,37,087 crore

Expansion, retirements and attrition driving higher hiring

The Eco Assure add-on allows cost-effective vehicle repairs without deductibles, using sustainably restored or new parts, along with a one-year repair guarantee, door-to-door service, and depreciation-free repairs.