Banking Regulation Act: News
26 Jan 2024
Life Insurance Corporation of IndiaRBI approves LIC's acquisition of 9.99% stake in HDFC Bank
Life Insurance Corporation of India (LIC), the nation's leading insurer, has been granted permission by the Reserve Bank of India (RBI) to acquire an aggregate 9.99% stake in HDFC Bank.
01 May 2023
JP MorganFirst Republic Bank's assets seized, JPMorgan to take over
First Republic Bank (FRC), which was on the brink of collapsing in the aftermath of the Silicon Valley Bank (SVB) crisis, has crashed.
20 Mar 2023
SwitzerlandCredit Suisse's fall: Tale of scandals and poor choices
Credit Suisse, the once formidable investment banking giant, is all set to be acquired by its long-time rival UBS. The Switzerland-based lender has been struggling for a while, and the UBS takeover is the culmination of multiple scandals.
20 Mar 2023
SwitzerlandWhy UBS agreed to acquire its rival Credit Suisse
UBS, Switzerland's largest bank, has agreed to buy its ailing rival Credit Suisse. The deal worth 3 billion Swiss francs was engineered by Swiss authorities to prevent the struggling financial sector from falling into more despair.
16 Oct 2022
IndiaPM Modi dedicates 75 digital banking units across 75 districts
To commemorate the 75 years of India's Independence Prime Minister Narendra Modi on Sunday dedicated 75 Digital Banking Units (DBUs) to the nation across 75 districts.
17 Nov 2020
Reserve Bank Of India (RBI)Lakshmi Vilas Bank under moratorium; withdrawals capped at Rs. 25,000
The Centre on Tuesday placed Tamil Nadu-based private sector lender Lakshmi Vilas Bank (LVB) under a moratorium for a period of one month, the Ministry of Finance said.
05 Nov 2019
PunjabPMC Bank crisis: RBI raises withdrawal limit to Rs. 50,000
The withdrawal limit for account holders of the crisis-hit Punjab and Maharashtra Cooperative (PMC) Bank has been raised to Rs. 50,000, the Reserve Bank of India (RBI) said in a press release on Tuesday.
18 Oct 2019
Supreme Court Of IndiaPMC Bank: SC dismisses petition to end cash withdrawal restrictions
On Friday, the Supreme Court refused to hear a petition filed on behalf of account holders in the Punjab and Maharashtra Co-operative (PMC) Bank seeking the lifting of restrictions on cash withdrawals.
06 Mar 2018
Reserve Bank Of India (RBI)RBI fines Axis Rs. 3cr, IOB Rs. 2cr for violations
The RBI has levied Rs. 3cr fine on Axis Bank and Rs. 2cr penalty on Indian Overseas Bank (IOB) for various violations.
21 Oct 2017
IndiaUIDAI has no jurisdiction over banks: IBA protests directives
According to sources, the Indian Banks' Association (IBA) has written to the RBI, IT Ministry and finance ministry questioning whether the UIDAI has the power to issue directives to banks under the Aadhaar Act.
26 May 2017
India3 years of Modi - how has business landscape changed?
As NDA government is now on the mature end of its tenure, it's not only India which is watching its every move but the entire world is.