Category: Banking
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Social Media Buzz Over Possible UPI Charges — How Much Could It Earn?
Social Media Buzz Over Possible UPI Charges — How Much Could It Earn? A fresh wave of discussion is circulating on social media about whether the government or the National Payments Corporation of India (NPCI) might introduce charges for Unified Payments Interface (UPI) transactions. No official announcement has been made, but the speculation has triggered…
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Digital Payments Surge: UPI Records 1,946.79 Crore Transactions in a Month
Digital Payments Surge: UPI Records 1,946.79 Crore Transactions in a Month India’s digital payment ecosystem has witnessed remarkable expansion, with transaction volumes soaring from 2,071 crore in FY 2017-18 to 22,831 crore in FY 2024-25 — a compound annual growth rate (CAGR) of 41%. Transaction values during the same period have surged from Rs. 1,962…
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Govt, RBI roll out sweeping banking reforms; MSMEs and digital payments get big boost
New Delhi, Aug 11 — The Banking Times Desk Highlights Credit discipline strengthened via IBC, CRILC and early-warning frameworks. NPA resolution push with asset transfer mechanisms and NARCL consolidation. PSB governance upgrades: arms-length leadership selection, non-executive chairmen, performance-linked extensions. Key laws: Banking Regulation (Amendment) Act, 2020; Banking Laws (Amendment) Act, 2025. MSME credit support through…
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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 &…
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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…
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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…
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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…
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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…
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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)…
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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…