All Banking & Crypto Related Details

The Reserve Bank of India has tightened foreign exchange rules. Banks can no longer offer non-deliverable forward contracts to clients. This move aims to support the Indian rupee. The new regulations also prevent banks from rebooking derivative contracts and dealing with related parties. These measures are effective immediately and could impact banks and corporate treasuries. from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/T6cjDQO via IFTTT

The Delhi High Court has declined to halt the 2024 performance-linked incentive scheme for senior public sector bank officials. Bank employee unions challenged the scheme, arguing it unfairly benefits a small percentage of the workforce and contradicts bipartite settlements. The court has requested responses from the government and the Indian Banks Association. from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/ADtTFys via IFTTT

Banks and telecom companies are developing a silent authentication mechanism to combat SIM cloning and eSIM swaps. This background check verifies mobile number and SIM card matches, flagging or blocking suspicious transactions in real-time without customer action. This move enhances security beyond traditional OTPs, aligning with new RBI mandates for two-factor authentication. from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/E8ShFB3 via IFTTT

Indian Bank and four south-based private banks have announced robust financial results for the March quarter. Gross advances and deposits saw significant year-on-year growth. Lending to the RAM sector drove advances for Indian Bank. Private lenders also reported healthy expansion in advances and deposits, indicating a positive trend in the banking sector. from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/sLZpagd via IFTTT

Axis Bank introduces a new digital feature for customers. You can now update your registered mobile number using Aadhaar-based face authentication directly on the mobile banking app. This eliminates the need for branch visits. The process involves three simple steps: entering your new number, completing face verification, and confirming with an OTP. from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/kd6xBLq via IFTTT

Banks' credit growth is projected to slightly slow to 13% in FY27, with a potential 0.20% rise in bad loans to 2.5% by March 2027, according to Crisil. MSME loans exposed to West Asia, along with micro-loans and unsecured advances, are key concerns. Other factors include Bihar's microfinance bill and Maharashtra's loan waiver impact. from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/9xwGbAC via IFTTT