RBI has told at least two state-owned banks to penalize corporate clients for breaching foreign exchange laws by obtaining guarantees from overseas banks. While such guarantees are barred under FEMA, RBI’s 2019 master direction allows them. The discrepancies between these regulations have led to confusion and potential legal conflicts, prompting RBI to demand regularization.
IndusInd’s back in black for Q4 with Rs 594 cr profit; provisions, slippages fall
In a remarkable financial turnaround, IndusInd Bank reported a net profit of ₹594 crore for the quarter ending March 2026. This surge was largely due
April 25, 2026