A shocking bank fraud recently came to light in Chhattisgarh. Scammers set up a fake branch of the SBI to trick people out of their money. This elaborate scam included fake job appointments, bogus training sessions, and a fully furnished fake bank that appeared real to unsuspecting locals. In the village of Chhapora, Raipur, six ...

CS Setty has been appointed as the new chairman of the State Bank of India (SBI), according to an official document. Setty will take over the position from Dinesh Khara, with his three-year term set to commence on or after August 28. In June, the Financial Services Institutions Board (FSIB) conducted interviews for the role, ...

RBI rejects possibility of loan: On Wednesday, Reserve Bank of India told Supreme Court that extension of loan moratorium was not possible and would lead to downfall in nation’s economic growth. RBI submitted its statement in response to the plea filed in the apex court by various industry bodies including Association of Power Producers, Confederation ...

11 banks and 11 corporates in India have received downgraded ratings by global credit ratings agency Moody’s Investors Services. This was done a day after Moody’s downgraded India’s sovereign ratings from Baa2 to Baa3 on June 1, with outlook being retained as negative. The 11 banks that have been downgraded include long term and foreign ...

Amid the national lockdown, declared to curtain the spread of corona virus, Indian banks suggested their customers to opt for mobile or internet banking over cash. The shutdown has resulted in lesser staff. The move helps in preventing the unnecessary crowding of branches. The banks are offering digital schemes in the wake of pandemic to ...