President Droupadi Murmu on Tuesday stressed that the empowerment of farmers and the rural economy must remain a key priority for the Indian banking sector. Speaking at the 120th foundation day celebrations of City Union Bank in Chennai, Tamil Nadu, she highlighted the critical role banks can play in transforming the nation’s economy. “From start-ups...
The Union Cabinet, chaired by Prime Minister Narendra Modi, has approved the restructuring and extension of the Prime Minister Street Vendor’s AtmaNirbhar Nidhi (PM SVANidhi) Scheme till March 31, 2030, with a total financial outlay of ₹7,332 crore. This decision aims to benefit 1.15 crore beneficiaries, including 50 lakh new street vendors, according to an...
Reserve Bank of India Governor Sanjay Malhotra clarified on Monday that banks are free to decide the minimum balance requirement for savings accounts, as it does not fall under the regulatory jurisdiction of the RBI. He made this statement during a media interaction on the sidelines of the ‘Financial Inclusion Saturation Drive’ held at Gozaria...