NT compiles a list of major financial crimes that shocked India

Ever since Punjab and Maharashtra Cooperative Bank (PMC Bank) crisis unfolded, citizens across India are worried by the mounting financial stumbles that have plagued our nation as our economy continues to stumble downward. In this article, News Today compiles a list of major white-collar crimes that rocked our country. Continue Reading

SBI lowers rates on non-repo-linked loans

State Bank of India (SBI) announced reduction in its marginal cost of fund based lending (MCLR) rate by 10 basis points across all tenors, effective 10 October. This is the sixth time that the country’s largest lender has cut its MCLR or minimum lending rate in the current financial year. The rate reduction is not applicable to the repo-linked loans. Continue Reading

Banks: Why strike call & why it was withdrawn

Officers’ unions of public sector banks have deferred the proposed two-day strike following an assurance from Finance Secretary Rajiv Kumar to look into their concerns. Continue Reading

SBI to adopt repo rate as external benchmark from 1 October

On 4 September, the Reserve Bank of India (RBI) had mandated all banks to link all new floating rate personal or retail loans and floating rate loans to micro, small and medium enterprises (MSMEs) to an external benchmark. Continue Reading