ICICI Bank has disclosed that the Maharashtra Goods and Services Tax (GST) Department has issued a demand notice of ₹237.90 crore for alleged short payment of GST. The order, received on December 17 under Section 73 of the Maharashtra GST Act, 2017, includes ₹216.27 crore in tax and ₹21.62 crore in penalty, along with applicable…
India recorded a net foreign direct investment (FDI) inflow of $10.1 billion between April and August 2025, marking a significant increase from $4.6 billion during the same period last year, according to data released by the Reserve Bank of India (RBI). The surge in net FDI reflects growing investor confidence in India’s economic prospects, particularly…
The State Bank of India (SBI), the country’s largest public sector lender, is expected to report a modest decline in its standalone net profit for the second quarter of FY2025, despite healthy loan growth. Analysts attribute this to pressure on net interest margins (NIMs), which is likely to be partially offset by one-time gains from…
As part of its Corporate Social Responsibility (CSR) initiative, the State Bank of India (SBI) has donated a smart board to the Composite Regional Centre (CRC) in the Andaman & Nicobar Islands. The move aims to promote digital inclusion and enhance educational and training facilities for persons with disabilities in the region. The donation was…
Mumbai, October 9, 2025 — Reserve Bank of India (RBI) Governor Shaktikanta Das addressed key stakeholders in the financial technology sector today, outlining five strategic insights aimed at guiding the future of fintech innovation and regulation in India. Speaking at the Global Fintech Summit 2025, Das emphasized the need for responsible innovation, financial inclusion, and…
In a significant governance development, shareholders of IndusInd Bank have voted against a proposal by promoter entity IndusInd International Holdings Ltd (IIHL) to induct two nominee directors to the bank’s board. The resolution, which required an amendment to the Articles of Association, was defeated at the bank’s Annual General Meeting (AGM) held on August 29,…
Mumbai, August 28 — In a strategic move to boost retail credit demand ahead of the festive season, Bank of Baroda (BoB) has announced a reduction in interest rates on car loans and loans against property (LAP), effective immediately. The bank has lowered its floating car loan interest rate by 25 basis points, bringing it…
New Delhi, August 23 — The Central Bureau of Investigation (CBI) has registered a case against Reliance Communications Limited (RCOM) and its promoter Anil D. Ambani in connection with an alleged ₹2,000-crore bank fraud involving the State Bank of India (SBI). The action follows a formal complaint filed by SBI after the company’s loan account…
State Bank of India (SBI), the country’s largest lender, has announced plans to raise ₹15,000 crore through Tier II bonds during the current financial year. The capital will be used to replace maturing debt and support fresh issuance, as part of the bank’s broader strategy to strengthen its balance sheet and maintain regulatory capital levels….
IndusInd Bank’s shares fell over 3% on Wednesday following the resignation of its Managing Director and CEO, Sumant Kathpalia. The stock dropped to ₹810.40 on the BSE and ₹810.05 on the NSE, reflecting investor concerns over governance and financial reporting issues. Kathpalia stepped down on April 29, 2025, citing “moral responsibility” for accounting lapses in…
