New Delhi : The Reserve Bank of India (RBI) has officially dismissed widespread social media rumors claiming that all paper currency notes will be withdrawn from circulation after June 30, 2026, and replaced entirely with polymer (plastic) banknotes. The misleading messages, which spread rapidly across WhatsApp groups, social media platforms, and online forums, sparked concerns … Read more
Mumbai : The Government of India has appointed Sanjay Lohiya, Secretary of the Department of Financial Services (DFS) under the Ministry of Finance, as a Director on the Central Board of Directors of State Bank of India (SBI) with immediate effect. The appointment marks a significant leadership change at India’s largest public-sector lender and comes … Read more
Mumbai, June 2026 — The search for the next Managing Director & Chief Executive Officer (MD & CEO) of UCO Bank has officially commenced after the Financial Services Institutions Bureau (FSIB) invited applications for one of the most prestigious leadership positions in India’s public sector banking industry. The recruitment drive comes as FSIB seeks a … Read more
MUMBAI — Central Bank of India has announced key changes to its senior leadership team following the retirement of two top executives upon attaining the age of superannuation, marking an important transition in the management structure of one of India’s leading public sector banks. In a regulatory filing submitted to the National Stock Exchange (NSE) … Read more
India’s Banking Landscape Shifts as PSU Banks Regain Momentum in FY26 Mumbai, India — India’s banking sector is witnessing a major transformation in 2026 as Public Sector Banks (PSU Banks) regain market dominance, outperforming many private lenders in loan growth, profitability, and balance sheet improvement. For years, private banks led the industry in growth, technology, … Read more
Mumbai : YES Bank has been fined ₹31.80 lakh (approximately $38,000) by the Reserve Bank of India (RBI) for failing to comply with customer onboarding rules linked to the Central KYC Records Registry (CKYCR), according to a regulatory disclosure filed by the private sector lender. The bank informed stock exchanges that the RBI imposed the … Read more
Mumbai, India — : Bank of Baroda has introduced Indian Sign Language (ISL) support via video calls at its contact center, marking a first-of-its-kind initiative in India’s banking sector aimed at improving accessibility for customers with hearing or speech impairments. A Major Step Toward Inclusive Banking The new service allows customers to connect with trained … Read more
Mumbai : Canara Bank has successfully completed the payment of annual interest along with the full redemption of its Basel III-compliant Tier II bonds, reaffirming its strong financial discipline and compliance with regulatory norms. In a regulatory filing, the bank confirmed that it has paid a total of ₹3,251.31 crore, which includes both principal and … Read more
Mumbai : AU Small Finance Bank Limited, India’s largest small finance bank, posted a strong set of financial results for the fourth quarter and full year ended March 31, 2026, driven by robust growth in income, improved asset quality, and expansion across key segments. The bank reported a 65% year-over-year (YoY) surge in net profit … Read more
Mumbai — Axis Bank reported a standalone net profit of ₹7,071 crore for the fourth quarter of fiscal year 2026, broadly flat compared to ₹7,118 crore in the same period last year. The bank also announced a dividend of ₹1 per share (50% on face value of ₹2), subject to shareholder approval. The financial results … Read more
New Delhi — Public sector lender UCO Bank has appointed Neeraj Daporkar as its new Chief Compliance Officer (CCO), effective immediately, in a move aimed at reinforcing its regulatory and governance framework. The appointment, approved by the bank’s Board of Directors, was disclosed to stock exchanges in compliance with Regulation 30 of the SEBI Listing … Read more
New Delhi — In one of the most decisive regulatory actions in India’s financial sector, the Reserve Bank of India (RBI) has cancelled the banking license of Paytm Payments Bank Limited with immediate effect, effectively shutting down its operations and initiating a formal winding-up process. The move underscores the central bank’s increasingly strict stance on … Read more
New Delhi: Following the latest monetary policy decision by the Reserve Bank of India (RBI), fixed deposit (FD) interest rates across Indian banks have largely stabilized. With the Monetary Policy Committee keeping the repo rate unchanged, the interest rate cycle is widely believed to have peaked, making late February 2026 a key window for investors … Read more
Bilaspur: In a major success for law enforcement, police have cracked the ₹3.35 crore jewelry robbery case that took place in Bilaspur’s Sarkanda police station area. The accused were arrested following a swift, coordinated operation that extended into Mirzapur, where a brief encounter occurred during a joint operation with Uttar Pradesh Police. One Accused Injured … Read more
Mungeli, India — Serious concerns have been raised over the security of government funds following the exposure of a major financial irregularity at the Central Bank of India’s Mungeli branch. An amount of ₹2.687 million (approximately USD 32,000) from a government infrastructure account maintained by the Mungeli Collectorate was allegedly transferred without authorization, triggering administrative … Read more
