The new entity will be the second largest bank in the country after State Bank of India (SBI) with a total business volume of Rs 18 lakh crore.
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The FRDI Bill seeks to offer a bail-in clause to banks, which many fear will be detrimental to depositors.
The Reserve Bank of India on Thursday tweaked the cash reserve ratio (CRR) norms in a bid to increase lending to micro, small and medium enterprises.
State Bank of India (SBI) on Friday announced a reduction in its MCLR or marginal cost of funding-based lending rates by 5 basis points across tenors, and a cut in its fixed deposit interest rates. That marked the ninth cut in the MCLR so far in the current fiscal year. The bank said the new rates for home loans and fixed deposits will take effect ...
It can be noted that the longest repo that the RBI has so far done is of 56 days, while most of its either overnight or for a fortnight.
Observing that digital payments in the country have been growing rapidly, the RBI said it would make a digital payments index (DPI) available from July 2020.
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