Citigroup isn’t the only foreign bank struggling in India, a closer look at the country’s banking ecosystem reveals.
India’s financial system remains stable notwithstanding weakening domestic growth, said the Reserve Bank of India (RBI) while releasing December 2019 Financial Stability Report (FSR) here on Friday.
The Reserve Bank of India (RBI) has imposed a monetary penalty of Rs 1 crore on Bandhan Bank Limited. RBI stated that this action is based on the deficiencies in regulatory compliance and is not intended to pronounce upon the validity of any transaction or agreement entered into by the bank.
The proposed merger of private sector lender Lakshmi Vilas Bank (LVB) with home financier Indiabulls Housing Finance has failed to get approval from the Reserve Bank of India (RBI).
The Reserve Bank of India (RBI) has approved six months extension to R K Chhibber as the interim Chairman and Managing Director of the Jammu and Kashmir Bank.
On Friday, September 28, shares of Laxmi Vilas Bank closed 4.94% lower at Rs 36.55 a piece after the bank said that Economic Offences Wing of Delhi Police has registered a first information report (FIR) against its directors of the board.
The RBI board accepting the proposal of a high-level panel headed by its former Governor Bimal Jalan.
More government-owned banks have announced linking their lending and deposit rates to the Reserve Bank of India’s (RBI’s) repo for facilitating faster transmission after the State Bank of India did so in May.