The Reserve Bank of India is introducing new rules for banks. Banks must now refund customers fully if a product or service is mis-sold. They also need to compensate customers for any losses incurred. These guidelines aim to protect customers and ensure fair practices in banking. The central bank is seeking feedback before implementing these changes.
Preferential allotment likely in PFC-REC merger to help Centre retain majority stake and government company status
The government is on the brink of a historic merger between Power Finance Corp and REC, with plans for preferential share allocation to retain public
February 12, 2026