The Reserve Bank of India (RBI) has introduced a new initiative to connect more directly with the public by launching an official WhatsApp channel. This development is part of the central bank’s broader commitment to enhancing public awareness and making important financial and banking information accessible to every citizen, particularly those in rural and semi-urban areas who might not have regular access to official websites or traditional media. The initiative falls under the RBI&rs

India’s banking sector is projected to witness a year-on-year credit expansion of ₹19 lakh crore to ₹20.5 lakh crore in FY2025-26, amounting to a growth of approximately 10.8%, according to a report by ICRA, a leading credit rating agency. This expansion is expected to be driven by recent monetary easing measures implemented by the Reserve Bank of India (RBI), though structural challenges in deposit mobilisation and rising credit-deposit ratios may temper growth momentum. According to

Amaravati, Andhra Pradesh — The Central Government has disbursed over ₹4,200 crore to Andhra Pradesh for the development of its capital, Amaravati. This follows the release of USD 205 million (approx. ₹1,705 crore) by the World Bank under a major international funding initiative aimed at completing the first phase of the state’s capital development project. A senior government official confirmed that the ₹4,285 crore, transferred on April 1, is part of a comprehensive ₹15,

As the new financial year begins on April 1, 2025, taxpayers, investors, and banking customers in India must prepare for several important changes in financial regulations. These reforms, previously announced by the government and regulatory bodies, are aimed at improving compliance, digital security, and financial transparency. Here’s a simple breakdown of the key changes that come into effect starting April 1.   1. Higher Income Tax Exemption Limit

Renowned American restaurant chain Hooters of America has filed for bankruptcy protection in Texas as part of a major restructuring effort aimed at addressing its mounting debt of $US376 million (approximately $601 million AUD). The company announced that it will transfer ownership of its company-operated restaurant locations to a group backed by the original founders of the brand, with the aim of strengthening its financial future. Despite the bankruptcy filing, Hooters has confirmed that it

Bank of America has issued essential guidelines for customers to help them avoid their accounts being labeled as abandoned property. Accounts that show signs of inactivity for extended periods, often more than three years, are at risk of being classified as abandoned and subsequently turned over to the state. This process is called escheatment, and it can result in the loss of access to your funds if not managed properly. However, the bank provides several proactive steps for customers to kee

In India, banking services are designed to offer convenience—but they often come at a price. From ATM withdrawals to fund transfers and cheque issuance, nearly every service comes with associated costs. While some fees are minimal, others can add up over time, impacting your personal or business finances. Whether you're managing a savings account or operating a business with a current account, understanding standard banking charges is essential for smarter financial planning. Bank f

Imagine racing to make an urgent fund transfer on March 31, only to find that your bank is open, but critical transactions aren’t going through. That could be a reality for many this year, as March 31, 2025, marks the last day of the financial year—and it comes with banking limitations that could impact individuals and businesses alike. While banks across India will remain operational on March 31, customers should be aware that many essential financial services may not function as

IDBI Bank has announced its Recruitment 2025 drive to fill key leadership roles in the organization. The Industrial Development Bank of India (IDBI) is inviting applications for three positions: Chief Economist, Head - Data Analytics, and Deputy Chief Technology Officer (Channels). These positions will be offered on a contract basis.   Vacancy Details and Key Roles The following posts are open for applications in the IDBI Bank Recruitment 202

The World Bank has advised India to lower import tariffs, ease regulatory restrictions, and simplify trade processes to enhance its global trade competitiveness and attract foreign investment. In a report released on Friday titled the Economic Memorandum on India, the World Bank highlighted that high trade costs caused by import tariffs on intermediate and capital goods, as well as non-tariff barriers, are limiting India's participation in global value chains (GVCs).The report emphasized

DBS Group, Southeast Asia’s largest bank, has announced plans to reduce its workforce by 4,000 employees over the next three years due to the increasing adoption of artificial intelligence (AI) and automation in banking operations. The move, confirmed by outgoing CEO Piyush Gupta, signals a major transformation in the financial sector, where AI-driven efficiencies are gradually replacing traditional job roles.   Speaking at an industry conference in Mumbai, Gupta r

Personal loans are often marketed as quick and hassle-free financial solutions, but borrowers are frequently caught off guard by hidden charges that increase the total cost of borrowing. While interest rates are clearly disclosed, additional fees, penalties, and deductions can reduce the actual loan amount disbursed and increase monthly EMIs.Lenders often do not fully disclose these fees upfront, making it essential for borrowers to understand all associated charges before finalizing their lo

UCO Bank is closing the registration window for the recruitment of Local Bank Officers (LBO) tomorrow. Eligible candidates who wish to apply for this position can visit the official website of UCO Bank (ucobank.com) to complete their application process. To apply, candidates must follow these steps: Go to the official UCO Bank website: ucobank.com Click on the “Click Here To Apply Online For Local Bank Officer (LBO) 2025-26” link on the homep

The Central Bank of India has initiated the application process for the recruitment of Zone-Based Officers (ZBO) for the year 2025. This recruitment aims to fill 266 vacancies. Interested and eligible candidates can apply online through the official website, centralbankofindia.co.in, before the application deadline of February 9, 2025. Candidates applying for the ZBO posts must have completed graduation in any discipline from a recognized university or possess an equivalent qualific

The World Bank-appointed Neutral Expert has affirmed its authority to resolve the ongoing dispute between India and Pakistan concerning the Kishenganga and Ratle hydropower projects in Jammu and Kashmir, under the 1960 Indus Water Treaty. India welcomed the decision, which supported its stance that all seven issues related to the two projects fall within the expert’s jurisdiction. The dispute, which centers around the technical designs of the two hydropower plants, escalated t

The State Bank of India (SBI) has officially announced the recruitment notification for the Probationary Officer (PO) position for 2024-25. A total of 600 vacancies will be filled, including both regular and backlog posts. The application window opens on December 27, 2024, and closes on January 16, 2025. The preliminary exam is set to take place from March 8 to March 15, 2025, with the main exam scheduled for April or May 2025. Candidates who meet the eligibility criteria can apply through SB

The World Bank has approved a substantial USD 800 million loan for the Amaravati Integrated Urban Development Program, which will support the development of Andhra Pradesh's greenfield capital city, Amaravati. The loan, approved by the Board of Executive Directors of the World Bank, aims to establish Amaravati as a sustainable, climate-resilient urban center that will create economic opportunities and improve the lives of its residents. The project is set to focus on building the city as

RBL Bank and Bajaj Finance Ltd. have mutually decided to stop issuing new co-branded credit cards following discussions that have taken place over the past month. While the change will not affect RBL Bank’s overall credit card business, it marks the end of a significant partnership that previously accounted for a large portion of RBL Bank’s card issuances. As of September 2023, Bajaj Finserv co-branded cards represented 41% of RBL Bank’s total credit card issuances.

HSBC Holdings Plc has made history by appointing Pam Kaur as its first female chief financial officer (CFO), a landmark decision for the bank founded over 150 years ago by a Scotsman. At 60, Kaur brings nearly four decades of banking experience, with a strong focus on auditing, risk management, and compliance. Kaur joined HSBC in April 2013 as the head of internal audit, shortly after the bank faced scrutiny for anti-money laundering and sanctions violations, resulting in a deferred

HDFC Bank Ltd, India's largest private sector lender, is set to sell ₹9,062.38 crore worth of car loans, amounting to 1,08,711 loans, as part of its strategy to address its increasing credit-deposit ratio. The bank will execute this sale using a financial instrument known as 'pass-through certificates' (PTCs), which provide fixed income to holders from a pool of assets like loans. According to insiders, this transaction may represent the largest PTC sale in India to date.