All Banking & Crypto Related Details

The Central Bureau of Investigation (CBI) has conducted searches on Wednesday, at 8 locations in Kolkata, West Bengal, in connection with three separate cases registered against Tantia Construction Ltd., Brahm Alloys Ltd. and Amrit Feeds Ltd. from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/SPClDo1 via IFTTT

To incentivise foreign currency inflows, the Reserve Bank of India will swap fresh dollar term deposits raised until end-September at par. In effect, the RBI will bear the entire hedging cost on deposits mobilised under the Foreign Currency Non-Resident (Bank), or FCNR(B), scheme. In line with the RBI's expectations, banks are passing on almost the entire benefit to depositors, making these deposits more attractive. from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/4tC25ka via IFTTT

The Reserve Bank of India has cancelled the banking license of Karnataka-based Shree Mahalaxmi Urban Co-operative Credit Bank due to its deteriorating financial condition. The bank's inability to meet its obligations and its lack of adequate capital and earning prospects led to this decision. Approximately 97.9% of depositors are expected to receive their full deposit amounts from DICGC upon liquidation. from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/lUghD8C via IFTTT

Credit access for bottom-of-the-pyramid borrowers in India has slowed as microfinance lenders turn cautious after two years of asset quality stress, increasingly favouring customers with established credit histories. A joint SIDBI-Equifax study shows the share of new-to-credit borrowers fell sharply to 20% from 33% three years ago, reflecting tighter risk filters. from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/jp5bZo7 via IFTTT

Axis Bank assures its digital systems are secure. The bank states cyber fraud largely occurs when customers are tricked by external communications, not due to weaknesses in its own cybersecurity. Officials highlighted that advanced AI models like Mythos can accelerate vulnerability discovery. Axis Bank is enhancing its response to identified weaknesses and deploying new security tools to protect customers. from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/IT4CcB8 via IFTTT

HDFC Bank's board meets June 18 to review legal findings on Atanu Chakraborty's concerns. Preliminary reports suggest no governance issues. The board will also seek a three-month extension for interim chairman Keki Mistry, pending RBI approval. Mistry's term ends June 18. The bank awaits the central bank's response on the extension request. from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/ObiERCu via IFTTT