logo
Vishweshwar Cooperative Bank gets Scheduled Bank Status

Vishweshwar Cooperative Bank gets Scheduled Bank Status

Pune, June 11 (UNI) City-headquartered Vishweshvar Cooperative Bank Ltd has got the Scheduled Bank Status from the Reserve Bank of India.
"This underlines the trustworthiness and functioning of the bank and we stand committed to keep doing our best. With this Vishweshwar Cooperative Bank has becomes the 50th cooperative bank from the country and the 3rd Bank from the city of Pune to get this status of a Scheduled Bank from the RBI," informed Anil Gadve, Chairman of the Bank during a Press Conference today.
Rajendra Mirje, Vice Chairman, and Shriram Apte, CEO of the Bank, were present on the occasion.
The Bank has been giving 10 percent dividend to its members since the past many years. The Vishweshwar Bank has been consistently following the RBI guidelines of "Financially Sound and Well Managed" (FSWM), he said.
UNI SP RN
Orange background

Try Our AI Features

Explore what Daily8 AI can do for you:

Comments

No comments yet...

Related Articles

'GDP may fall by...': Former RBI governor issues big warning for Indian economy, says US tariffs and China can disturb...
'GDP may fall by...': Former RBI governor issues big warning for Indian economy, says US tariffs and China can disturb...

India.com

time17 minutes ago

  • India.com

'GDP may fall by...': Former RBI governor issues big warning for Indian economy, says US tariffs and China can disturb...

US tariff- impact on India New Delhi: In a significant development amid the ongoing trade related conflict between India and US led by US President Donald Trump, former RBI Governor Duvvari Subbarao has warned that Donald Trump's proposed 50% tariff on Indian exports could reduce India's GDP growth rate by up to 50 basis points and worsen unemployment. Here are all the details you need to know about what former RBI Governor Duvvari Subbarao has said about US' tariffs on the Indian economy. What has former RBI Governor Duvvari Subbarao said on US tariff impact? How much GDP growth has Moody's Ratings predicted for India? In a recently released report by Moody's, India's strong domestic demand and the robust performance of its services sector will help cushion the economic impact of steep new US tariffs imposed as a penalty for continued imports of Russian crude oil. Why China is a major threat for India's GDP growth? 'We project that real GDP growth may slow by around 0.3 percentage points compared with our current forecast of 6.3 per cent growth for fiscal 2025-26 (ending March 2026). However, resilient domestic demand and the strength of services sector will mitigate the strain.' noted the report. How much traffic has Donald Trump imposed on India? Last week, US President Donald Trump signed an executive order slapping an additional 25 per cent 'penalty' tariff on Indian goods, citing India's sustained purchases of Russian oil despite Western sanctions. Notably, the rate is significantly higher than the 15-20 per cent levies faced by most Asia-Pacific nations, potentially denting India's competitiveness in global trade. (With inputs from agencies)

Turnover from futures and options in currency derivatives across all exchanges fell by around 85% in 2024-25: SEBI
Turnover from futures and options in currency derivatives across all exchanges fell by around 85% in 2024-25: SEBI

Business Standard

time38 minutes ago

  • Business Standard

Turnover from futures and options in currency derivatives across all exchanges fell by around 85% in 2024-25: SEBI

The security and exchange board of India, SEBI, in its annual report for 2024-25 said that in the currency derivatives segment, the total premium turnover from futures and options across all exchanges fell by 84.8 per cent to Rs 14.7 lakh crore in 2024-25, down from Rs 96.7 lakh crore in 2023-24 amid limited participation. On January 05, 2024, the RBI issued a notification titled Risk Management and Inter-Bank Dealings, which took effect on May 03. This directive stipulated that derivatives could only be utilised for hedging against foreign exchange rate fluctuations, thereby limiting market participation to hedgers only. This limited the participation of proprietary traders, who accounted for a predominant 67.7 per cent share in 2023-24 (which includes speculators and arbitrageurs) in the Indian currency derivatives market. During 2024-25, currency options recorded steep fall in settled trades with premium and exercise settlement falling off by 97.3 per cent and 95.8 per cent, respectively, when compared to 2023-24, SEBI noted. Even in currency futures, MTM settlement fell by 27.4 per cent to Rs 9,574 crore from Rs 13,196 crore in 2023-24. Overall, value of settled trades in currency derivatives declined to Rs 10,426 crore in 2024-25 from Rs 26,093 crore in 2023-24, a significant fall of 60.0%.

Is your data safe when applying for personal loans online? What you must know
Is your data safe when applying for personal loans online? What you must know

Mint

timean hour ago

  • Mint

Is your data safe when applying for personal loans online? What you must know

The rise of digital lending platforms has made applying for personal loans convenient across the country. Still, major concerns about data protection, borrower privacy, and security have gained traction over the years. This has happened as borrowers share critical personal information online. The Reserve Bank of India (RBI) has stepped up oversight in this space along with other government organisations. This has been achieved by framing guidelines consistently to ensure responsible lending and protection of borrower rights from exploitation. Priyanka Kanwar, Co-founder & CEO of Falcon, says, 'Digital lending's growth makes the RBI and MeitY's focus on consumer protection timely and forward-looking, and their privacy-by-design approach lays the foundation for long-term digital safety while urging the industry to build transparent, trust-first systems to strengthen consumer confidence.' Rapid growth in technology, along with the comfort of one-click loan approval, has drawn millions of borrowers to fintech platforms in recent years. However, with speed comes the potential of financial losses and risks. Especially when crucial personal information such as PAN details, Aadhaar details, bank statements, along with income proofs, is the subject of discussion. In such cases, improper verification, weak encryption, and unclear data-sharing practices can leave borrowers vulnerable and exposed to identity theft and financial fraud. Therefore, to address these risks, regulators have nudged lenders towards more comprehensive and elaborate disclosures. The focus is now shifting towards consent-based data usage. Borrowers, on their part, are increasingly advised to review an application's privacy policy, credibility, checking whether it is linked to a regulated bank or NBFC, and avoiding granting blanket permissions for contact lists, photos, other personal information, or location tracking, none of which are mandatory for the approval of a legitimate personal loan application. Verify lending institution credentials: Carefully check and confirm the legitimacy of the lending platform. It is important to verify if the platform is registered with the RBI or partners with other authorised NBFCs, such as Muthoot Finance, Bajaj Finance, Aditya Birla Finance, among others. Carefully check and confirm the legitimacy of the lending platform. It is important to verify if the platform is registered with the RBI or partners with other authorised NBFCs, such as Muthoot Finance, Bajaj Finance, Aditya Birla Finance, among others. Verify past reviews, customer service team: Go to the official website of the lending institution and check the past reviews and the customer service team's performance. You can also check this from Google Play and the App Store to see if the application is available. Go to the official website of the lending institution and check the past reviews and the customer service team's performance. You can also check this from Google Play and the App Store to see if the application is available. Read the fine print : Understand and acknowledge how your data will be utilised, stored, and shared before clicking 'agree'. If in doubt, don't click on the agree option and discuss the issue with the authorised customer service team. : Understand and acknowledge how your data will be utilised, stored, and shared before clicking 'agree'. If in doubt, don't click on the agree option and discuss the issue with the authorised customer service team. Limit permissions : Grant only the relevant permission needed for the processing of your personal loan. Do revoke unnecessary app permissions and requests afterwards. : Grant only the relevant permission needed for the processing of your personal loan. Do revoke unnecessary app permissions and requests afterwards. Stay alert to phishing attempts: Official lenders will not request passwords, emailed codes, OTPs, CVVs, or PINs over the phone or email. All such information is privileged information and should never be shared with any bank representative or loan disbursing agent Hence, as digital lending deepens its roots in the nation with new borrowers entering the fold, the industry's creditworthiness and accountability will depend on how well it can secure consumer faith. While regulations provide directions, the onus also lies on borrowers to stay vigilant and safeguard their rights by treating their personal data as seriously as their bank balance. For all personal finance updates, visit here. Disclaimer: Mint has a tie-up with fintechs for providing credit; you will need to share your information if you apply. These tie-ups do not influence our editorial content. This article only intends to educate and spread awareness about credit needs like loans, credit cards, and credit scores. Mint does not promote or encourage taking credit, as it comes with a set of risks, such as high interest rates, hidden charges, etc. We advise investors to discuss with certified experts before taking any credit.

DOWNLOAD THE APP

Get Started Now: Download the App

Ready to dive into a world of global content with local flavor? Download Daily8 app today from your preferred app store and start exploring.
app-storeplay-store