banking

November 10, 2025 8:05 PM

Govt to establish urban cooperative bank in every city with over two lakh population in next five years: Home Minister

Union Home Minister and Minister of Cooperation Amit Shah on Monday said the government is committed to expanding the urban cooperative credit ecosystem and will set up an Urban Cooperative Bank in every city with a population of over 2 lakh within the next five years. Addressing the international conference on the urban cooperative credit sector — Co-Op Kumbh 2025 — in New Delhi as the Chief Guest, Shah said the event marks the International Year of Cooperatives and will play a key role ...

October 23, 2025 3:11 PM

Key nomination provisions under Banking Laws (Amendment) Act, 2025 to take effect from November 1

The key provisions relating to nomination under the Banking Laws (Amendment) Act, 2025 will come into effect from November 1, 2025, according to a notification issued by the Central Government. The Banking Laws (Amendment) Act, 2025, notified on April 15, 2025, introduced a total of 19 amendments across five major legislations - the Reserve Bank of India Act, 1934, Banking Regulation Act, 1949, State Bank of India Act, 1955, and the Banking Companies (Acquisition and Transfer of Undertakings) A...

October 9, 2025 1:36 PM

HSBC launches Innovation Banking in India, allocates $1 billion to support startups

HSBC India on Thursday announced the launch of its ‘Innovation Banking’ in India, which offers banking and financing solutions to support entrepreneurial businesses throughout their lifecycle, from seed to IPO, as well as their investors. The bank plans to allocate $1 billion in non-dilutive debt capital to support Indian startups. The funding targets growth of companies from early- to late-stage in scaling their operations without diluting equity, helping founders and investors to retain g...

January 14, 2025 12:45 PM

Banks hike interest rates on FDs amid fierce competition for deposits

Banks have started offering higher returns on FDs amid fierce competition to raise more deposits. While leading banks such as SBI and HDFC were the first to raise interest rates on FDs, smaller banks such as IDBI have followed suit for fear of getting left behind in the race. SBI introduced a new category of super senior citizens above 80 years -- who will get 10 basis points more than senior citizens. This scheme has been adopted by IDBI Bank as well. IDBI Bank has launched the 'IDBI Chiranje...

June 27, 2024 9:57 AM

Sensex, Nifty settle at new all-time highs; banking, media stocks shine

Indian benchmark indices reached fresh record highs on Wednesday, driven by gains in banking and media stocks. The BSE Sensex gained 620.73 points, or 0.8 percent, to close at 78,674.25, while the Nifty added 147.50 points, or 0.62 percent, to end at 23,868.80. Leading the gains on the Nifty 50 were Reliance Industries, Bharti Airtel, UltraTech Cement, ICICI Bank, and Grasim. Apollo Hospitals, Mahindra & Mahindra, Bajaj Auto, Tata Steel, and Hindalco Industries emerged as the top laggards....