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The RBI said the cancellation of licence comes into effect from the close of business on May 12, following which the bank will no longer be permitted to conduct banking operations.
Updated : May 12, 2026

RBI cancels Mumbai’s Sarvodaya Co-op Bank licence; deposits insured up to ₹5 Lakh

RBI said the bank failed to meet multiple Banking Regulation Act norms, citing inadequate capital, weak earnings prospects, and non-compliance with key regulatory requirements.

Unlike annual or joining fees, credit card interest is usage-based and applies mainly when users fail to clear their full outstanding balance within the due date.
Updated : May 10, 2026

BT Explainer: When do banks start charging interest on credit card transactions?

Credit cards may offer convenience and rewards, but failing to understand how interest works can quickly turn them into one of the most expensive borrowing tools. From partial payments to cash withdrawals, several transactions can trigger high finance charges even when users think they are managing bills correctly.

Paying only the “minimum due” avoids late fees but keeps debt and interest rising.
Updated : May 8, 2026

Are you hurting your credit score despite paying EMIs on time?

Paying EMIs and credit card bills on time may not be enough to maintain a strong credit score. Experts warn that several hidden financial habits — from relying on BNPL apps to closing old credit cards — can quietly damage your credit profile and affect future loan approvals.

Higher interest rates reduce loan eligibility, meaning borrowers may qualify for smaller loan amounts. This can force compromises on property size, location, or quality.
Updated : May 2, 2026

Should you take a home loan in a high-interest economy?

Inflation doesn’t just make everyday expenses costlier—it also quietly increases your loan burden. Rising interest rates can push up EMIs, making borrowing more expensive over time. Understanding how inflation affects different loans is key to managing your finances effectively.

Despite branch closures, core banking services will continue uninterrupted. Customers can access ATMs, UPI, internet banking, and mobile banking platforms throughout the month.
Updated : May 1, 2026

May 2026 bank holidays: When banks will be closed across states, check full dates

Apart from Sundays and the second and fourth Saturdays, banks will remain closed on several regional occasions such as Maharashtra Din, Buddha Purnima, Labour Day, Rabindranath Tagore Jayanti, Sikkim State Day, Kazi Nazrul Islam Jayanti, and Eid-Ul-Adha.

A key differentiator is IPPB’s doorstep banking model, powered by India’s vast postal network.
Updated : Apr 30, 2026

What is a Self Help Group (SHG) Savings Account? Here’s how it works, why it matters

An SHG Savings Account is a specialised banking product designed exclusively for registered Self Help Groups. It allows groups to deposit collective savings, manage transactions, and build a financial track record within the formal banking ecosystem.

In essence, biometric authentication is not replacing the UPI PIN — it is optimising it for a faster, safer, and more intuitive payment journey.
Updated : Apr 30, 2026

No more UPI PIN? Pay up to ₹5,000 using fingerprint or Face ID with biometric UPI payments

ICICI Bank has enabled this feature on its iMobile app, allowing customers to use biometrics for person-to-person transfers, QR-based merchant payments, and online purchases. The feature is available on updated app versions and relies on biometric data already stored securely on the user’s device rather than collecting new data.

Despite the strong sequential uptick, underlying consumption trends remain moderate.
Updated : Apr 30, 2026

Credit card spends jump to ₹2.19 lakh crore in March; HDFC hits record share, SBI Card outperforms

India’s credit card spends surged to ₹2.19 lakh crore in March, driven by seasonal demand, even as annual growth remained moderate. HDFC Bank tightened its dominance with record market share, while SBI Card emerged as the fastest-growing major issuer.

Axis Bank, City Union Bank, ICICI Bank, and IndusInd Bank have been directed to pay 5% of the transferred amount, while Yes Bank has been asked to compensate 7.5% due to additional lapses.
Updated : Apr 23, 2026

78-year-old loses ₹22.9 crore in digital arrest scam, RBI pulls up banks

The RBI has directed five banks, Axis Bank, City Union Bank, ICICI Bank, IndusInd Bank, and Yes Bank, to compensate a victim in a ₹22.92 crore digital arrest fraud, citing lapses in KYC and AML compliance.

Under the new rules, recurring payments up to ₹15,000 can be processed without repeated OTPs, after a one-time AFA approval (OTP/PIN).
Updated : Apr 22, 2026

Now control your auto-debit payments: RBI’s new rules explained

The Reserve Bank of India (RBI) has revamped its auto-debit framework, giving users greater control over recurring digital payments while enhancing security. From OTP-free transactions up to ₹15,000 to mandatory 24-hour pre-debit alerts, the new rules aim to make payments both seamless and transparent.

Maintaining the required bank balance helps avoid recurring penalty charges, which can erode savings over time.
Updated : Apr 22, 2026

Rs 19,083 crore lost to penalties: Why maintaining minimum balance in bank accounts matters

Banks have charged ₹19,083 crore for minimum balance shortfalls over three years. What seems like a minor lapse can steadily eat into your savings. These penalties often hit during periods of cash flow stress, amplifying the financial burden.

BHIM app integrates CIBIL score, allows users to track credit profile
Updated : Apr 20, 2026

You can now check your CIBIL score on BHIM app: Here's how

BHIM app already offers features such as expense splitting, family mode, spending analytics, and reminders.

Most modern floating-rate home loans are linked to external benchmarks such as the repo rate, ensuring faster transmission of policy changes to borrowers.
Updated : Apr 8, 2026

RBI holds repo rate: Home loan EMIs stay stable, borrowers save up to ₹13.9 lakh

The RBI’s decision to hold the repo rate at 5.25% is not a routine pause but a cautious response to global uncertainties, particularly oil-driven inflation risks from the West Asia conflict. The move preserves recent rate-cut benefits, allowing home loan borrowers to continue saving up to ₹3,000–₹5,800 monthly while keeping EMIs stable for now.

Data from banks and housing finance companies show that HDFC Bank’s home loan rates remain broadly competitive
Updated : Apr 8, 2026

HDFC Bank cuts short-term MCLR ahead of RBI policy; long-term rates unchanged

The bank has reduced its overnight and one-month MCLR from 8.15% to 8.10%, while the three-month MCLR has been cut from 8.25% to 8.20%.

SBI Card has revised the redemption framework for its popular Cashback SBI Card from April 1, 2026. Cardholders can now redeem reward points only in multiples of 4,000.
Updated : Apr 7, 2026

Credit card rewards reset: HDFC, SBI, Axis cut perks; what it means for you

The era of effortless credit card rewards is fading as banks recalibrate benefits to prioritise profitability over perks. For users, this marks a shift towards smarter spending, where rewards depend less on ownership and more on behaviour.

A pause in repo rates typically translates into stable borrowing costs, especially for home loan borrowers.
Updated : Apr 2, 2026

RBI MPC April 2026 meet: Why home loan EMIs may stay flat for now

The RBI is expected to keep the repo rate unchanged at its April MPC meeting amid global inflation and growth concerns. This pause could keep home loan EMIs stable in the near term, offering relief and predictability for borrowers.

MoRTH rolled out the system from March 1, initially integrating it with one public sector bank and five NBFCs, with more lenders to be added in phases.
Updated : Mar 27, 2026

How difficult is it to close a vehicle loan in India? Expert highlights new digital changes

Vehicle owners may soon avoid RTO visits after closing a loan, as the government rolls out an automated hypothecation removal system. The change connects lenders directly with the VAHAN platform to update records in real time.

Rising gold prices, higher borrowing limits, and tighter credit in other segments have led borrowers to prefer secured gold loans from banks and NBFCs.
Updated : Mar 15, 2026

Gold loan rates range from 8.5% to 23% with rising prices boost borrowing

Gold loan interest rates range from about 8.5% to over 11%, with some lenders charging higher depending on risk and loan terms. Strong demand has pushed gold loan disbursements up 94% year-on-year to ₹8.16 lakh crore in FY26, as per a report.

Under the proposed scheme, for losses below Rs 29,412, customers will receive 85 per cent of the loss as compensation.
Updated : Mar 7, 2026

RBI sets Rs 50,000 cap on small-value digital fraud claims; how will that affect you

Effective 1 July 2026, the rules aim to protect customers as digital transactions rise. Compensation will be allowed if the loss is genuine and reported to the bank and the Cyber Crime Helpline (1930) within five days.

Women borrowers led loan growth, with portfolios rising 23.4% year-on-year in December 2025 versus 16.7% for men.
Updated : Mar 4, 2026

Women borrowers outpace men in credit growth, repayment strength and business loans: CRIF report

Women borrowers show their strongest participation in secured lending products such as gold loans, education loans and housing finance. According to the report, women account for 43.5% of gold loan portfolios, followed by 36.7% in education loans and 32.2% in home loans.

The report said the spike highlights a growing preference for instant credit solutions that help individuals manage seasonal expenses without disturbing their monthly budgets.
Updated : Mar 3, 2026

30% surge in loan demand - short-term personal loan applications rose ahead of Holi 2026, says report

The average loan ticket size ranged between ₹40,000 and ₹50,000, with borrowers aged 30–35 years emerging as the most active segment.

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