This move not only reshapes Yes Bank’s ownership structure but also brings a deep-pocketed global player into the private banking space. Mint explains what this means for Yes Bank, SMBC and the banking sector. What does RBI approval of the Yes Bank-SMBC deal mean? The Reserve Bank of India’s (RBI) nod to Sumitomo Mitsui Banking…
Bank holiday today: Banks will be closed in Assam on Monday, August 25, 2025, to mark Tirubhav Tithi of Srimanta Sankardeva in the state. The banks in the rest of the country are scheduled to remain open on Monday, August 25, 2025. Tirubhav Tithi of Srimanta Sankardeva 2025 The Tirubhav Tithi of Mahapurush Srimanta Sankardeva…
Financial services companies attracted the lion’s share of foreign capital flows into India in recent years, two Union government officials said citing finance ministry data. Investments by sovereign wealth funds in India’s financial services sector climbed from ₹2,688 crore in 2020-21 to ₹16,228 crore in 2024-25, according to the officials, who requested anonymity. Investments by…
According to two people familiar with the matter, the new framework is designed to make the process more efficient, cut costs, and improve the overall value for creditors. The proposed group insolvency rules aim to streamline the complex and often lengthy process of untangling distressed corporate empires. “The rules will be designed to keep the…
Setty, who took over from Dinesh Khara as chairman of India’s largest lender a year ago, has informed the subsidiaries that since salaries, especially of the top brass, are benchmarked to industry standards, they must perform to justify that. “There is a message from the top that performance is key and the benchmarks are the…
The Finance Ministry has in two written replies to the Parliament last week, clarified on the requirement for and mandatory nature of CIBIL scores for loan applications, and also outlined whether it plans to replace the organisation in its role, with a government body. Responding to queries raised on “misuse of CIBIL score by banks”…
Multiple versions of the recreation exist on YouTube, with some clocking up to 2 million views, raising concerns around monetary implications as this diverts legitimate streaming revenue, and the work of original artists and composers remains uncompensated. Further, there is the issue of algorithmic abuse, where AI-generated tracks flood recommendation systems and crowd out legitimate…
New Delhi: Power prices on exchanges have softened in August, with the day-ahead market (DAM) and the real-time market (RTM) rates edging lower than a year ago as heavy monsoon rains lifted supply, while cooler weather kept the demand subdued. Data from the Indian Energy Exchange showed that the market clearing price (MCP) of power…
In the recently concluded Monsoon Session, this was clearly evident in the written questions directed at the civil aviation ministry. Coming in the aftermath of the Air India crash in Ahmedabad, several questions focused on air safety. Here are five revelations about India’s civil aviation sector: Regulators: High vacancies In India, three entities are tasked…
Bank holidays this week, August 25-31, 2025: The Reserve Bank of India (RBI ) has declared several holidays for August 2025. Banks across several Indian cities will remain closed in the upcoming week due to festivals and observances under the RBI’s Negotiable Instruments Act. For those people who are planning any important activities related to…