*RBI Draft Proposal Seeks to Restrict NBFCs from Offering Revolving Credit Without Approval* The Reserve Bank of India (RBI) has proposed changes to the lending framework for Non-Banking Financial Companies (NBFCs). The draft seeks to restrict revolving credit facilities without prior regulatory approval. *Read More*: https://thekanal.in/en-IN/details/rbi-draft-proposal-seeks-to-restrict-nbfcs-from-offering-revolving-credit-without-approval-71925 #banking

*Punjab & Sind Bank Vigilance Complaint Seeks Inquiry Into Alleged Financial Irregularities at Nellore Branch* A complaint submitted to Punjab & Sind Bank's Corporate Vigilance Department has sought an inquiry into alleged financial irregularities at the Nellore Branch. The complainant has submitted supporting documents and completed identity verification. The allegations remain unverified. *Read More:* https://thekanal.in/en-IN/details/punjab-sind-bank-vigilance-complaint-seeks-inquiry-into-alleged-financial-irregularities-at-nellore-branch-97264 #banking

*Odisha Grameen Bank Officers' and Employees' Associations Raise Concerns Over Alleged Staff Harassment in Berhampur Region* The Association of Odisha Grameen Bank Officers' (AOGBO) and Odisha Grameen Bank Employees' Association (OGBEA) have submitted a representation to the Chairman of Odisha Grameen Bank. The letter raises concerns over alleged unfair labour practices and staff harassment by the Regional Manager of the Berhampur Region, seeking immediate intervention from the bank management. *Read More*: https://thekanal.in/en-IN/details/odisha-grameen-bank-officers-and-employees-associations-raise-concerns-over-alleged-staff-harassment-in-berhampur-region-35109 #banking

*RBI Prohibits Banks from Disabling Borrowers' Mobile Phones* The Reserve Bank of India (RBI) has revised its loan recovery framework. The updated norms prohibit banks from disabling borrowers' mobile devices as a recovery tool, except in specific device-financing cases. The revised framework also introduces safeguards for borrowers, prescribes conditions for technology-based restrictions on financed devices, and eases certain recovery agent disclosure requirements. *Read More*: https://thekanal.in/en-IN/details/rbi-prohibits-banks-from-disabling-borrowers-mobile-phones-55304 #banking

*SBI Reports Strong First-Quarter Profit, Beats Market Estimates* State Bank of India (SBI) reported a stronger-than-expected profit for the first quarter of the financial year, supported by steady loan growth and stable asset quality. The bank also remains on track to attract significant foreign currency deposits under the RBI's FCNR(B) deposit scheme. *Read More*: https://thekanal.in/en-IN/details/sbi-reports-strong-first-quarter-profit-beats-market-estimates-22433 #banking

*NOBO, NOBW Defend Stand, Accuse UFBU's Majority Unions of Double Standards in Fresh Letter* The National Organisation of Bank Workers (NOBW) and the National Organisation of Bank Officers (NOBO) have issued a fresh reply to seven UFBU constituent unions, defending their independent engagement with the Government and alleging double standards over unilateral actions, Five-Day Banking, and Industrial Relations issues. *Read More:* https://thekanal.in/en-IN/details/nobo-nobw-defend-stand-accuse-ufbus-majority-unions-of-double-standards-in-fresh-letter-84042 #banking

UFBU Allies Face Criticism from All India Punjab National Bank Workers' Organisation The All India Punjab National Bank Workers Organisation (AIPNBWO/NOBW) has criticised the seven constituent unions of UFBU over the five-day banking demand and industrial relations. In a statement, the organisation claimed it had raised these issues directly with the Union Finance Minister and questioned the role of other bank unions while reaffirming its commitment to bank employees. Read More https://thekanal.in/en-IN/details/ufbu-allies-face-criticism-from-all-india-punjab-national-bank-workers-organisation-79519 #banking

*RBI Raises FY27 GDP Growth Forecast to 6.7%, Lowers CPI Inflation Projection to 5%* The Reserve Bank of India (RBI) has revised its FY27 economic projections. The RBI has marginally increased its real GDP growth forecast for FY27 to 6.7% while slightly lowering its Consumer Price Index (CPI) inflation projection to 5%, reflecting its latest assessment of the domestic economy. *Read More*: https://thekanal.in/en-IN/details/rbi-raises-fy27-gdp-growth-forecast-to-67-lowers-cpi-inflation-projection-to-5-79220 #banking

*RBI Proposes New Interest Rate Framework to Improve Transparency Across Regulated Entities* The Reserve Bank of India (RBI) has proposed a principle-based framework to harmonise interest rate practices across banks, NBFCs and other regulated entities. The move aims to improve transparency, simplify lending practices and strengthen monetary policy transmission. *Read More*: https://thekanal.in/en-IN/details/rbi-proposes-new-interest-rate-framework-to-improve-transparency-across-regulated-entities-22540 #banking

*RBI Positions Distinguished Among Asian Counterparts, Says Governor Sanjay Malhotra* The Reserve Bank of India (RBI) has maintained the repo rate at 5.25%, distinguishing itself from several Asian central banks by keeping monetary policy unchanged. Governor Sanjay Malhotra said inflation remains under control, economic growth is resilient, and current price pressures are largely temporary, allowing the RBI to remain patient. *Read More*: https://thekanal.in/en-IN/details/rbi-positions-distinguished-among-asian-counterparts-says-governor-sanjay-malhotra-72697 #banking