Category: Banking

The Allahabad High Court asked SBI to pay Rs. 1 lakh to a man whose request for a job after his father’s death was ignored for over five years. The court said SBI should have acted quickly, even though it rejected the job plea because of the delay.

Small Savings Schemes: The central government has made no changes to the interest rates for small savings schemes for the third quarter of financial year 2026. Small Savings Scheme Interest Rates: The Indian government has announced the interest rates for small savings schemes, including the Public Provident Fund (PPF), National Savings Certificates (NSC), and Senior…

NPCI UPI Update: The government has made two important changes to UPI. The request payment feature has been discontinued, and the transaction limit has been increased to ₹5 lakh. The AutoPay feature has also been introduced. UPI Rule Changes: If you frequently use UPI, this news could be very useful for you. The government has…

Online Payment Fraud Relief: RBI’s new digital payment security rules will come into effect from April 1, 2026, in which two-factor authentication (2FA) has been made mandatory, which will reduce incidents of fraud and cyber crime. The Reserve Bank of India (RBI) has issued new guidelines to make digital payments more secure, effective April 1,…

The Enforcement Directorate (ED) conducted searches at eight locations across Nagpur and Bhandara in Maharashtra, and Guntur in Andhra Pradesh, as part of a sprawling money-laundering probe. The investigation targets Ramana Rao Bolla, Nutan Rakesh Singh, and their associates in connection with an alleged bank fraud of over Rs 152 crore. Both Bolla and Singh…

The Reserve Bank of India announced that ₹2000 notes in circulation have dropped from ₹3.56 lakh crore in May 2023 to just ₹5,884 crore by September 30, 2025, meaning 98.35% have been returned. While withdrawn from circulation, the notes remain legal tender and can still be exchanged or deposited at RBI Issue Offices and through…

From November 1, 2025, SBI credit cardholders will pay a 1% fee if they use apps such as CRED, Cheq, or MobiKwik to pay school or college fees. Direct payments on official institution websites or POS machines remain free. Wallet loads above ₹1,000 will also attract a 1% fee, while existing charges like late fees…

The government has appointed Asheesh Pandey, Executive Director at Bank of Maharashtra, as MD & CEO of Union Bank of India for three years. Kalyan Kumar, currently with Punjab National Bank, will take over as MD & CEO of Central Bank of India after M.V. Rao’s retirement in July 2025. Both appointments were cleared by…

From April 1, 2026, all digital transactions in India must use at least two authentication factors, with one being dynamic like biometrics or tokens. The move reduces dependence on SMS OTPs, introduces risk-based checks, and ensures full customer compensation if banks fail to comply. Cross-border card transactions will get added safeguards by October 2026.

From October 1, 2025, RBI has allowed banks to reduce loan spreads on floating-rate loans earlier than the 3-year lock-in, helping borrowers get quicker EMI relief when policy rates fall. The option to switch to fixed rates at reset will now depend on each bank’s policy, giving borrowers more flexibility but also requiring them to…