The RBI, in its communication dated April 19, 2023, has approved the appointment of Kaizad Bharucha as Deputy Managing Director of the bank for three years with effect from April 19, it added. Besides, it also approved the appointment of Bhavesh Zaveri as executive director of the bank for a similar term with effect from April 19, 2023.

The Reserve Bank of India is holding a meeting with directors from all public sector banks on May 22 in New Delhi to discuss issues related to governance and ethics, and to clarify its supervisory expectations. RBI Governor Shaktikanta Das will address directors from the Department of Supervision, Department of Regulation and the Enforcement Department on a day-long interactive event.

More students from India's Tier 2 and 3 cities are seeking higher education abroad, and applications for loans have increased by 162%. Hyderabad, Mumbai, Bengaluru, Delhi, and Chennai in Tier 1 cities have seen the highest number of loan applications, with a rise of 237% in Delhi and 193% in Hyderabad.

State-run banks will set up an e-auction app to dispose of about 500,000 properties over the next five years. "Our target is that in the next five years, around six lakh transactions be done through the app, which include over one lakh auctions, and loan applications for those properties," said a senior bank executive, who did not wish to be identified.

The norms will largely be in line with the central bank's notification on wilful defaulters. Those norms provide for a personal hearing before an account/borrower is called a wilful defaulter, people familiar with the matter said.

The move is a fresh step in resolving the issue surrounding the European Securities and Markets Authority's (ESMA) decision to de-recognise the CCIL following the RBI's refusal to permit rights of an external regulatory audit. Following a significant softening in the stance of the European regulators, the RBI is said to be more amenable to settling the dispute.

AU Small Finance Bank on Wednesday said it has received permission from Reserve Bank of India to deal in foreign exchange. Reserve Bank of India vide its letter dated April 19, 2023 has granted Licence to act as Authorized Dealer Category-I (AD-I) under section 10 of FEMA, 1999 to deal in foreign exchange, AU Small Finance Bank said in a regulatory filing.

As part of the association, a multi-media campaign featuring Virat Kohli will showcase the value proposition of banking with HSBC. Through its suite of products and services, the bank is positioned to support various facets of the Indian economy poised for a significant and sustained growth trajectory, it said in a statement.