Interest rates on bank deposits vary across institutions in India. To help you stay informed, we’ve compiled the latest deposit interest rates offered by all public sector banks and leading private sector banks. In the lists below, banks are arranged alphabetically under their respective categories —Public Sector Banks and Private Sector Banks. Next to each…
Income Tax Attachment and Garnishee Orders are both legal mechanisms that enable recovery of dues through attachment of funds held in banks. However, they differ significantly in terms of origin, procedure, and implications for banks. The following sections explain these distinctions in detail. Garnishee Order A Garnishee Order is issued by a Court attaching the…
Overview The Bank Rate in India is the standard rate at which the Reserve Bank of India (RBI) is prepared to buy or re-discount eligible bills of exchange or other commercial paper under Section 49 of the RBI Act, 1934. In modern practice, it functions primarily as an administered benchmark aligned with the Marginal Standing…
Central Bank of India reported a standalone net profit of ₹1,212.88 crore for the quarter ended 30 September 2025 (Q2 FY26), marking a 32.86% year-on-year increase. The bank’s asset quality improved with Gross NPA at 3.01% and Net NPA at 0.48%. Total business reached ₹7,37,938 crore, supported by deposit growth and stable margins. The Net…
Punjab National Bank (PNB) reported a robust financial performance for the quarter and half-year ended 30 September 2025 (Q2/H1 FY26), with notable improvement in profitability, asset quality, and business expansion. The following highlights provide a detailed summary of key metrics across performance segments. Profitability Asset Quality Business Growth Capital and Liquidity Segment and PSL Performance…
Abstract This paper outlines the regulatory framework and documentation requirements governing the Know Your Customer (KYC) process for opening various types of bank accounts in India. It integrates the provisions of the Prevention of Money Laundering Act, 2002 (PMLA) and the Reserve Bank of India (RBI) Master Directions on KYC, highlighting the risk-based approach, documentation…
Indian Overseas Bank (IOB) has reported a record quarterly performance for the unaudited quarter and half year ended 30 September 2025, driven by strong profitability, robust business growth, and continued improvement in asset quality. For Q2 FY26, the bank’s net profit stood at ₹1,226 crore, marking a sharp 57.8% year-on-year (YoY) increase, supported by higher…
Opening a bank account in India requires following specific rules and submitting valid documents. The procedure and documentation vary depending on whether the applicant is an individual, company, society, cooperative, or institution. This article explains the step-by-step requirements and includes easy compliance checklists for each category of account holder. 1. Opening Current Accounts for Clubs,…
Leave entitlements in banks are designed to accommodate both professional and personal needs of employees, while ensuring continuity of service and compliance with HR policies. Among these, Special Leave* and Extraordinary Leave (EOL are two important categories offering flexibility under specific circumstances. 1. Special Leave Special leave may be granted to bank employees for specific…
Indian exporters are now permitted to open and maintain Foreign Currency Accounts (FCAs) outside India, including in IFSC Banking Units, for receipt of full export value and advance remittances. The Seventh Amendment to the 2015 Regulations, issued in October 2025, clarifies repatriation timelines and defines the permissible use of funds, thereby enhancing flexibility and efficiency…
