Category: Banking
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Repco Bank Presents Rs. 22.90 Crore Dividend to Amit Shah
Repco Bank presented a cheque of Rs. 22.90 crore towards dividend for FY 2024-25 to Union Home Minister and Minister of Cooperation, Shri Amit Shah, in New Delhi. The Union Home Minister congratulated Team Repco Bank for posting a record net profit of Rs. 140 crore, the highest in the bank’s history. Key Highlights Dividend…
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Government and RBI Initiatives to Boost Digital Payments and Financial Inclusion
The Government of India, along with the Reserve Bank of India (RBI) and the National Payments Corporation of India (NPCI), has launched multiple initiatives to promote digital payment transactions and enhance financial inclusion across the country. Key Initiatives for Digital Payments Incentive scheme for promotion of RuPay Debit Cards and low-value BHIM-UPI (P2M) transactions. Payments…
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Nifty Bank Top Performers – 4th August
Bank Name Last Price (Rs.) Change (Rs.) % Change BANKBARODA 293.30 +7.45 +2.60% IDFCFIRSTB 67.30 +1.05 +1.58% INDUSINDBK 1606.50 +39.10 +2.48% CANBK 162.00 +1.75 +1.09% SBIN 742.60 +11.55 +1.56% ICICIBANK 1,481.30 -8.30 -0.56% HDFCBANK 1,888.10 -11.70 -0.62%
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RTI Reveals PSU Banks Recovery Agent Spending
A Right to Information (RTI) query filed by India Today with the Department of Financial Services (DFS) has revealed how much taxpayer-funded public sector banks (PSBs) are spending on hiring recovery agents. The findings show a mix of partial transparency and widespread stonewalling. Recovery agents in India have faced controversy over allegations of harassment, intimidation,…
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Current Banking and Market Rates – August 4, 2025
Source: RBI & FBIL Policy Rates Rate Current Value Policy Repo Rate 5.50% Standing Deposit Facility Rate 5.25% Marginal Standing Facility Rate 5.75% Bank Rate 5.75% Fixed Reverse Repo Rate 3.35% Reserve Ratios Ratio Current Value CRR (Cash Reserve Ratio) 4.00% SLR (Statutory Liquidity Ratio) 18.00% Exchange Rates (INR) Currency Rate 1 USD 87.3519 1…
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ED Arrests Viresh Joshi in Axis Mutual Fund Scam
The Enforcement Directorate (ED) has arrested Viresh Joshi, the alleged mastermind behind the Axis Mutual Fund front-running scam, and seized Rs. 17.4 crore worth of shares, mutual funds, and bank balances in the ongoing money laundering investigation. Joshi, the former Chief Dealer of Axis Mutual Fund, was arrested under the Prevention of Money Laundering Act…
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Govt Responds to Proposal of 5-Day Banking Week
The Government of India has addressed an unstarred question in the Lok Sabha about the proposed implementation of a 5-day work week for banks, raised by Shri K C Venugopal. Indian Banks’ Association (IBA) has submitted a proposal to declare all Saturdays as banking holidays. As per the Minister of State for Finance, Shri Pankaj…
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Beware of UPI Overpayment Scams: Here’s How to Stay Safe
UPI overpayment scams are becoming increasingly common, targeting unsuspecting users by sending small fake transfers and tricking them into sending money back or revealing sensitive information. Here’s how these scams typically work — and how you can stay protected. 🔍 How the Scam Works: Fake Transfer: A scammer sends a small amount of money to…
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Bankers Dying in Silence: Two Suicides in a Week Raise Alarming Questions About Work Pressure in Nationalised Banks
In a disturbing pattern that has been largely ignored by mainstream discourse, the recent suicides of two bank managers from Punjab National Bank and Bank of Baroda have once again brought to light the intense and often inhumane pressure faced by employees in India’s public sector banks. The silence surrounding these deaths — both occurring…
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Expected DA for Bank Employees from August 2025: What is DA and How is it Calculated?
Source: CPI & 12th Bipartite Settlement Bank employees across India are closely watching the dearness allowance (DA) revision set to be applicable from August 1, 2025, as per the terms of the 12th Bipartite Settlement (BPS). The updated CPI data for May 2025 was released june 30 by the Government of India, and DA projections…