Author: admin@thebankingtimes.in
-
ICICI Bank Raises Minimum Average Balance For Savings Accounts From August 1, 2025
ICICI Bank Raises Minimum Average Balance For Savings Accounts From August 1, 2025 ICICI Bank has revised the Minimum Average Balance (MAB) for savings accounts across all branches, effective August 1, 2025. The new structure makes ICICI’s MAB among the highest in India and affects customers in metro, urban, semi-urban, and rural locations. Metro &…
-
What Happens If a Bank Delays Your Claim? RBI Draft Says You Get Paid Too
Did You Know? Banks May Soon Have to Pay You If They Delay Claim Settlements The Reserve Bank of India has released a draft circular titled “Settlement of Claims in respect of Deceased Customers of Banks” Directions, 2025. These proposed rules aim to make it faster and easier for families to access funds, lockers, and…
-
Kotak Bank urges customers to use official app after UPI balance glitch report
Kotak Bank urges customers to use official app after UPI balance glitch report Kotak Mahindra Bank has advised customers to check balances only through its official mobile banking app or net banking, after reports claimed a Delhi user saw an unusually long, 37-digit balance via a third-party UPI app. Advisory: Use Kotak’s own app/net banking…
-
Bank of Baroda Staffer Accused of Diverting Rs. 7.93 Lakh to Personal Account
Bank of Baroda Staffer Accused of Diverting Rs. 7.93 Lakh to Personal Account Vadodara police have registered a case against a Bank of Baroda employee for allegedly misappropriating Rs. 7.93 lakh from the bank. The accused, identified as Sandip Chauhan, was working at the MS University branch when the incidents took place. Suspicious Transfers Detected…
-
Mumbai Bank Employee Arrested For Rs. 1 Crore Blackmail Plot Against Ex-Boyfriend
Mumbai Bank Employee Arrested For Rs. 1 Crore Blackmail Plot Against Ex-Boyfriend A shocking case has emerged in Mumbai where a private bank employee allegedly blackmailed her ex-boyfriend and demanded Rs. 1 crore. The accused, Dolly Kotak, is said to have threatened to ruin the victim’s life and send him to jail if he did…
-
LIC Q1FY26 Profit Rises 5% to Rs. 10,986 Crore; AUM Crosses Rs. 57 Lakh Crore
Life Insurance Corporation of India (LIC) has reported a strong start to FY26 with its profit after tax rising 5.02% year-on-year to Rs. 10,986 crore for the quarter ended June 30, 2025. The insurer also saw its Assets Under Management (AUM) jump by 6.47% to Rs. 57,05,341 crore, while its Value of New Business (VNB)…
-
RBI imposes Rs. 75.00 lakh penalty on ICICI Bank for breaches in property valuation and current account rules
The Reserve Bank of India has imposed a monetary penalty of Rs. 75.00 lakh on ICICI Bank Limited for non-compliance with directions on Valuation of Properties – Empanelment of Valuers and Opening of Current Accounts by Banks – Need for discipline. The order is dated . Key points at a glance Penalty amount: Rs. 75.00…
-
PMFME scheme sees surge with over 1.46 lakh applications by June 2025; 58,213 loans sanctioned, 51,851 disbursed
The Pradhan Mantri Formalisation of Micro Food Processing Enterprises (PMFME) scheme recorded strong momentum in FY 2024–25, with 1,46,197 applications received for credit-linked subsidy till June 30, 2025. As shared in a written reply to the Rajya Sabha by Minister of State for Food Processing Industries Shri Ravneet Singh, the scheme has enabled wide access…
-
“US President’s Salary Revealed: What the Commander-in-Chief Earns in 2025”
As of January 2025, the annual salary of the President of the United States stands at $400,000. This figure has remained unchanged since 2001, when Congress doubled it from $200,000 to reflect the demands and responsibilities of the nation’s highest office. Comparison with Other Top Federal Positions The President’s pay outpaces other top officials, including…
-
SBI June 2025 quarter: flat close, steady profit; NIMs compress across peers
SBI June 2025 Quarter: Flat Stock Close, Solid Profit; NIMs Under Pressure Across Peers SBI June 2025 quarter: flat close, steady profit; NIMs compress across peers Quick take: State Bank of India (SBI) declared its June 2025 quarter results during Friday trading hours. The stock closed broadly flat at Rs. 804.6, not far from its…