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Of the total penalty amount collected, private banks amassed ₹4948.71 crore, whereas the 12 public sector banks recovered ₹2137.92 crore.
A financial fraud of over £10 million has been unearthed at a service cooperative bank in Idukki, India, involving fake loan accounts and fictitious beneficiaries.
India's Reserve Bank has demonstrated innovation and agility in managing economic challenges, particularly through its latest initiatives on FCNR deposits and external commercial borrowings, attracting significant inflows.
Following intervention by officers from Patana Police Station, the remains were taken back and reburied.
A family of four is homeless in Paravur after a bank sealed their leased house, locking their belongings inside.
The RBI has issued ‘Deposit Locker/Safe Custody Article Facility provided by the banks - Revised Instructions’, on August 18, 2021 and the banks have been advised to frame their own Board approved policy/operational guidelines, considering the same.
Determined to support her son’s independence, Shobha learned to drive and bought a car.
They sourced saplings from nurseries across the district, travelling through several towns before planting 21 vines.
A Bengaluru-based entrepreneur named Parameswaran Krishna Iyer initiated a significant policy change after witnessing his tribal employees repeatedly losing substantial portions of their earnings due to bank penalties.
The Indian government disclosed to the Lok Sabha that public sector banks collected nearly ₹2,900 crore in penalties for failing to maintain minimum balances in savings accounts during 2024–25.
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