Banks will have to treat such credit facilities unrated and assign applicable risk weights, the Reserve Bank of India said. To put it simply, if a borrower avails credit facilities from three banks -- A, B and C and the external rating firm does not make such disclosure, none of the banks can reckon the said rating, and therefore has to follow higher risk weights norms -- 100% or 150% as applicable.

The financial bids for the sale will be invited by March and the process is expected to conclude by September 2023. Union government along with Life Insurance Corporation (LIC) invited preliminary bids for selling 60.72% stake in IDBI Bank last week. The deadline for putting in Expression of Interest (EoI) is December 16.

"The bank does not have adequate capital and earning prospects," the RBI said. It also stated that the bank's current financial situation would prevent it from paying its current depositors in full. The Seva Vikas Co-operative Bank is prohibited from conducting banking business, which includes, among other things, accepting deposits and repaying deposits, with immediate impact, according to the RBI.

Everyday, hundreds of Indians get affected due to replying to a fake message or email, which turn out to be bank frauds. Here are some tips to identify a fake message from the bank.

South Indian Bank on Sunday bagged the world record for organising a first-of-its-kind category event of staging and swinging 101 'oonjals' simultaneously at a single venue. South Indian Bank MD and CEO Murali Ramakarishnan along with its group business head Thomas Joseph K received the World Book of Records certification.

Home loan outstanding of banks has clocked double-digit growth in the first five months of the current fiscal, despite the Reserve Bank raising the key interest rate thrice during this period by a whopping 140 basis points (bps), which led to a hike in the home loan rate.

The finance ministry is considering multiple ways such as dipping into other accounts of a cheque issuer and prohibition of opening of new accounts of offenders to effectively deal with cheque bounce cases. These cases have been clogging the legal system. Many suggestions were made at a high-level meeting recently called by the ministry to deal with the high incidence of cheque bounce cases, reported PTI.

To recoup more than Rs 746 crore, the State Bank of India (SBI) has lined up a number of non-performing assets for sale this month and the following month, including the fraud account of Sintex BAPL.