The Reserve Bank of India (RBI) has issued amended directions on the conduct of regulated entities in recovery of loans and engagement of recovery agents, creating a more uniform and borrower-protective framework. The directions consolidate earlier instructions and strengthen requirements relating to recovery agents, borrower communication, data protection, training and grievance redressal. Effective from January…
Updated on August 6, 2026 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…
The Monetary Policy Committee (MPC) met on the 3rd, 4th and 5th of August to deliberate and decide on the policy repo rate. After a detailed assessment of the evolving macroeconomic and financial developments and the outlook, the MPC voted unanimously to keep the policy repo rate under the liquidity adjustment facility (LAF) unchanged at…
India’s digital payments landscape may be heading towards a significant policy change. A Bill introduced in Parliament by the Ministry of Finance proposes amendments to the Payment and Settlement Systems Act, 2007, creating a legal framework that would enable the government to prescribe Merchant Discount Rate (MDR) for UPI and other electronic payment systems. While…
Indian banks have reportedly proposed introducing a simple “Yes-No” confirmation prompt for high-risk UPI person-to-person (P2P) transfers as an additional safeguard against rising digital payment frauds. The proposal seeks to strike a balance between maintaining UPI’s hallmark speed and convenience while providing customers with an opportunity to verify suspicious transactions before funds are credited to…
The introduction of the Bankers’ Books Evidence Bill, 2026 in Parliament marks a significant milestone in the modernization of India’s banking and legal framework. Introduced in the Lok Sabha, the Bill seeks to replace the Bankers’ Books Evidence Act, 1891, a colonial-era legislation that has governed the admissibility of bank records in judicial proceedings for…
On July 30, 2026, the Reserve Bank of India (RBI) issued new directions to make interest rates on large fixed deposits more transparent and fair. These rules come into force on **October 1, 2026** and apply to all commercial banks, small finance banks, regional rural banks, payment banks, local area banks, and urban co-operative banks.…
All India CPI-W General index for April 2026, May 2026 and June 2026 respectively 149.90 150.80 and 151.90. Hence new rate of Dearness Relief for bank Pensioners for the half year August 2026 to January 2027 are as under. Dearness Relief Rates apply as a percentage of Basic Pension before commutation. (Dearness Relief Rates correspond…
All India CPI-W General index for April 2026, May 2026 and June 2026 respectively 149.90 150.80 and 151.90. Hence new rate of DA for the months of August 2026 to October 2026 will be 27.83 an increase of 2.13 %. * DA chart for bank-sub-staff for the months of August, September and October 2026
All India CPI-W General index for April 2026, May 2026 and June 2026 respectively 149.90 150.80 and 151.90. Hence new rate of DA for the months of August 2026 to October 2026 will be 27.83 an increase of 2.13 %. DA Chart SUB STAFF BASIC New DA Previous DA Difference 19500 7102 6558 544 20165…
