The Reserve Bank of India has formed a new external committee, led by former deputy governor MK Jain, to evaluate applications for universal and small finance banks. Initial screening by the central bank will ensure eligibility, followed by the committee’s assessment. This committee succeeds the one led by Shyama Gopinath, with members like Revathy Iyer and Hemant G Contractor.
Tamilnad Mercantile Bank Q1 profit jumps 35% on strong income growth
Tamilnad Mercantile Bank reported a 35% year-on-year rise in June quarter net profit to Rs 412 crore, driven by higher income and net interest income.
July 27, 2026