GIFT City continues to gain recognition worldwide, with top-tier foreign banks from France and the UAE queuing up to establish IFSC banking units. Their arrival strengthens India’s ambitions to rival leading international financial centres.
Ask Anything, Know Better
1 hour ago SUMMARY The Reserve Bank of India (RBI) issued new directives on June 12, 2025, to simplify the Know Your Customer (KYC) process, as reported by Business Standard. Key points Mandatory Notifications: Banks must send at least three advance written reminders before the KYC update deadline and three additional reminders, including one physical letter, if the update is not completed post-deadline. These must include clear instructions, support channels, and consequences of non-compliance. Banks are...
1 day ago HOW MUCH IS THE DEBT? India’s household debt has become a growing concern, with recent data showing a significant rise in borrowing. By June 2024, household debt reached 42.9% of GDP, as reported by the Reserve Bank of India (RBI) in its Financial Stability Report (December 2024), a sharp increase from 37.6% in March 2023 and well above the pre-pandemic average of 33% (2015-2019). The government’s push for financial inclusion has increased credit access, but without addressing income inequality or...
July 03 RBI classifies commercial banks in India into Scheduled Banks and Non Scheduled Banks. SCHEDULED BANKS The scheduled bank is a bank that has been included in the Second Schedule of the Reserve Bank of India Act, 1934. The RBI grants scheduled bank a status of a bank only if it fulfils certain conditions laid down in the RBI Act, 1934 and the Banking Regulation Act 1949, one of which is having a minimum paid-up capital of Rs. 5 lakhs. What is a paid up capital? click on the link to...
March 22 Know about why do the banks collapse? And whether Indian banks suffer from the same crisis as that of US banks? Watch the video to know the concept.
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