India's Banking Intelligence, Daily
ProGet this in your inbox every morning. Free. Join 500+ bankers.
RBI benchmark rates
Commodities & FX
Indian & global equity indices
Latest RBI Update: The Reserve Bank of India maintained the Repo Rate at 5.25% in its August 5, 2026, Monetary Policy Committee meeting, holding rates steady for the fifth consecutive meeting.
Read on RBI.org.in →Curated for Indian banking professionals
Indian banks have attracted $65.397 billion in FCNR-B deposits within 75 days, driven by NRI demand for higher returns. This surge comes as the RBI has brought forward the deadline for its concessional swap facility for these deposits to August 31, 2026, accelerating inflows.
SEBI is tightening regulations on online bond platform advertising to protect investors from misleading claims. New rules mandate standardized information for specific securities and require explicit risk disclaimers for terms like 'fixed returns', while restricting ambiguous phrases such as 'high yield'.
Goldman Sachs has initiated coverage on 14 Indian banks, designating ICICI Bank and Kotak Mahindra Bank as top 'Buy' rated selections with substantial upside. The firm anticipates a cyclical earnings recovery for the banking sector, projecting private banks to outperform state-owned counterparts over the next two years.
Non-banking financial companies project resilient growth, buoyed by healthy credit demand and stable asset quality. While vehicle financiers show accelerated asset under management growth, gold financiers face moderated growth post-new guidelines, and power financiers lag behind the sector.
India Post has expanded eligibility for Rural Postal Life Insurance (RPLI), allowing premium payments through any scheduled bank savings account. This change facilitates policy maintenance for individuals transitioning from rural to urban areas, enhancing accessibility and convenience.
The RBI has released the premature redemption calendar for Sovereign Gold Bonds (SGBs) for October 2026 to March 2027, covering 32 tranches. Investors can check their SGB series and submit redemption requests within the specified windows to exit their holdings prior to maturity.
Click 1-Year column to sort. Highest rate in each column highlighted.
| Bank Name | 1-Year (%) ↓ | 3-Year (%) | Senior Citizen (%) |
|---|---|---|---|
| Kotak Mahindra Bank | 7.10 | 7.00 | 7.60 |
| Saraswat Bank | 7.00 | 7.00 | 7.50 |
| Bank of Baroda | 6.85 | 7.15 | 7.35 |
| SBI | 6.80 | 6.75 | 7.30 |
| ICICI Bank | 6.70 | 7.00 | 7.20 |
| Axis Bank | 6.70 | 7.10 | 7.20 |
| HDFC Bank | 6.60 | 7.00 | 7.10 |
Rates indicative. Source: respective bank websites. Re-verified daily; last checked 23 Aug 2026. Verify before investment decisions.
Repo Rate — MPC decision history
Plain-English summaries of this week's circulars
RBI has issued revised guidelines requiring banks to strengthen their Interest Rate Risk management frameworks. Banks must implement updated IRRBB measurement systems and report standardised metrics to RBI by September 2026. Applicable to all scheduled commercial banks.
Read full circular →Recent monetary penalties imposed by RBI
| Bank | Amount | Date | Reason |
|---|---|---|---|
| Punjab National Bank | ₹1.31 Cr | 12 Jun 2026 | Non-compliance with KYC norms |
| Federal Bank | ₹59.40 L | 09 Jun 2026 | Breach of cyber security directions |
| IndusInd Bank | ₹2.20 Cr | 05 Jun 2026 | Violation of priority sector lending norms |
Source: RBI Press Releases. For complete penalty history, upgrade to Pro.
Join 500+ Indian banking professionals who read BID every day. Free.