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PFRDA appoints Bank of Baroda as pension fund sponsor; bank becomes second PSU lender in business

• PFRDA appointed Bank of Baroda as a pension fund sponsor
• The appointment marks the bank’s entry into the pension fund business
• Pension-fund entry expands Bank of Baroda’s business scope

RBI consolidates existing guidelines on credit facilities for SC/ST borrowers

• RBI issued a Master Circular consolidating existing guidelines on bank credit facilities for SC/ST borrowers
• The guidelines cover lending and loan processing
• Banks must follow consolidated credit guidance for SC/ST borrowers

RBI allows one-time approval for eligible funds’ repeat bank stake acquisitions up to 10%

• Eligible mutual funds, insurers and pension funds can seek one-time approval for subsequent acquisitions up to 10%
• Prior approval remains mandatory for the initial acquisition
• Simpler stake-building rules may aid demand for Indian bank shares, including Bank of India

Matter of liquidity: How the RBI manages cash in the banking system

• The RBI uses a mix of short- and long-term tools to manage banking-system cash
• RBI liquidity management affects funding conditions for Indian banks

RBI eases rules for DIIs to buy bank shares

Banks, NPCI to ensure MDR not passed on: SBI

• Banks and NPCI will ensure MDR is not passed on to customers, SBI Chairman Setty says
• SBI aims to raise UPI transactions through Yono to 5 crore per day
• SBI’s UPI push may strengthen its digital payments reach against private-sector bank rivals

City of London Fears Windfall Tax on Domestic Banks in UK Budget

Banks shut for Gandhi Jayanti on October 2; digital services and ATMs remain available

• Bank branches across India will be closed on Friday, October 2
• Digital banking services and ATMs will continue to operate
• Branch closures pause in-person services, while digital channels keep Indian banks operating