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The Reserve Bank of India has made some changes regarding the rules of banking license in the country. After this change the number of commercial banks in the country may increase. Under this, small finance banks can apply for universal bank license. However, looking at the eligibility conditions that have been set for this, it
RBI: Unemployment remains a matter of concern in the country. The government claims to take all necessary steps in this direction. But, there is not much improvement in the condition at present. According to the report of International Labor Organization (ILO), in the year 2022, the share of youth in the total unemployed population of
Small Finance Banks: The country may soon get many more banks. The Reserve Bank of India (RBI) on Friday has invited applications in this regard from many small finance banks. If no problem is found then they can be given the status of regular or universal banks by RBI. At present there are about a
Foreign Exchange Reserves: There has been a decline in foreign exchange reserves this week also. According to RBI, the country’s foreign exchange reserves have declined by 2.82 billion to $ 640.33 billion in the week ending April 19, 2024, which was $ 643.16 billion in the previous week. This is the second consecutive week when
Ashneer Grover on Kotak Mahindra Bank Crisis: Kotak Mahindra Bank’s troubles seem to be increasing. Bank regulator Reserve Bank of India has taken major action against Kotak Mahindra Bank and stopped it from adding new customers through online or mobile banking channels. Along with this, the Central Bank has also stopped Kotak Mahindra Bank from
The Reserve Bank of India has taken major action against Kotak Mahindra Bank and stopped it from adding new customers online. Also, issuing credit cards is also not allowed. However, no restriction is applicable for old customers. Kotak Mahindra Bank is one of the big banks of India, whose founder Uday Kotak is considered to
Uday Kotak Networth: After the major action of the Reserve Bank of India, on Thursday 25 April 2024, a huge fall of about 12 percent was seen in the shares of Kotak Mahindra Bank. Institutional and retail shareholders investing in Kotak Mahindra Bank have suffered huge losses. But Uday Kotak, founder and non-executive director of
RBI News Update:Banking sector regulator Reserve Bank of India has warned against unauthorized entities issuing prepaid payment instruments. RBI said that it has come to its notice that Talkcharge Technology Private Limited, based in Gurugram, Haryana, whose registered office address is Unit No. 233, JMD Megapolis, Third Floor, Sohna Road, Sector 48, is using the
Kotak Mahindra Bank Stock Crash: After the major action taken by the banking sector regulator Reserve Bank of India against Kotak Mahindra Bank on Wednesday 24 April 2024, the date of Thursday 25 April has been the most disappointing for the shareholders of Kotak Mahindra Bank. At market close, Kotak Bank shares closed at Rs
The stock market surprised everyone on Thursday, the fourth trading day of the week. After opening badly, Sensex and Nifty suddenly gained momentum and by the end of trading, both the indices became rockets. BSE’s 30-share Sensex jumped more than 700 points, while Nifty also ran wild. During this period, there was a strong rise
