The INR vostro facility is part of a special trade settlement mechanism which was finalized by the Reserve Bank of India (RBI) in July 2022. The arrangement allows Indian importers to deposit rupees in vostro accounts that overseas banks open with banks in India and clearing of dues to Indian exporters from the surplus balances in the vostro accounts.

Lenders led by Canara Bank have received close to ₹1,300 crore as part of their dues from Infrastructure Leasing & Financial Services (IL&FS) in what is a second payout from the defunct infrastructure financier.

The divestment process of IDBI Bank will complete in the fiscal year 2023-24, Department of Investment and Public Asset Management (DIPAM) Secretary Tuhin Kanta Pandey said in an interview with ETNow on Monday. ​Pandey said that while the names and the number of bidders for IDBI Bank cannot be revealed as yet, the next stage in the process will be related to giving access to virtual data room and solving queries

In July 2021, the RBI issued an advisory to banks and financial institutions to cease entering into new financial contracts that reference Libor as a benchmark and instead use any widely accepted alternative reference rate (ARR) by December 2021. The issue figured in a meeting between RBI and senior executives of all top banks in December.

The 15-month delay after the National Company Law Tribunal (NCLT) had approved the plan has made lenders wary of the consortium's promises.

Home loan rates have risen sharply in the past fi ve months, from 6.5% to 8.25%. A 20-year home loan taken in 2019 at 6.7% will get repaid in 21 years, even though EMIs have been paid for three years.