Bengaluru-based startup Open has recently become India's 100th unicorn. It's a neobank. But, what exactly is a neobank and how is one different from a traditional bank? Let's find out.
The Reserve Bank of India has imposed a penalty on three cooperative banks, including Nagrik Sahakari Bank Maryadit, Raipur, Chhattisgarh, for deficiencies in regulatory compliances
RBI accepted 21 of 33 recommendations of internal working group, the key being allowing promoters to hold 26% in the bank they floated. RBI did not mention corporate and NBFC issues in its guidelines
Inadequately capitalised banks will face problems in increasing their credit portfolios. A credit squeeze on account of banks' balance-sheet constraints would also have larger macroeconomic dimensions